#91 Your Business Isn't a Template, Experts Shouldn't Treat It Like One
No two businesses are the same, which is why every expert who supports your business should treat it as such. In this episode, I’m talking about what it is you can and should expect from experts and what is simply not okay.
Far too often I’m approached by new clients who have had terrible experiences with lawyers who left them high and dry by using templates. By not tailoring their legal documents to their specific needs, these business owners were left overwhelmed, confused and wide open to claims with no leg to stand on. In my view, it’s incumbent on experts to do everything they can to support business owners and not take shortcuts. This includes lawyers, accountants, bookkeepers and every expert who supports you so that you can stay in your zone of genius.
In this episode, I talk about the fact that over half of small businesses in Australia fail, the reasons behind this and why it’s vital for experts to be supporting business owners in a bespoke way. Many business owners purchase legal templates but taking this type of financial shortcut will only cost you more in the long run.
As a business owner, you have the right to ask questions from experts and be given answers so that you understand what you need to do and why. I talk about how vital it is to surround yourself with the right team who will give you the right support so that you can be in a position of confidence, knowing that your legal obligations are being met.
If you don’t feel supported and empowered by the experts who support you in your business, it might be time to seek help elsewhere.
TOPICS DISCUSSED AND WHERE TO FIND THEM:
[1:15]: In Australia, it’s estimated that 40-60% of new businesses won’t survive beyond 5 years.
[2:25]: As business owners, it’s important to surround yourself with the right people to give you the support you need. Lawyers, accountants, bookkeeping, Facebook ads etc.
[3:35]: Experts you engage with should take the time to understand your unique business, not treat it like a template. Sadly this isn’t always the case.
[5:30]: Clients come to me after terrible experiences with other lawyers who have used templates for their business. They have had to issue refunds due to poor terms and conditions that weren’t tailored to their specific business.
[6:50]: It’s my view that it’s incumbent on experts to do everything they can to support business owners and not take shortcuts.
[7:30]: Taking financial shortcuts will cost you more in the long run. If an expert doesn’t take the time to provide bespoke support, you need to find someone who does.
[8:50]: Business owners should be free to ask questions from professionals and be equipped with the knowledge they need to feel empowered.
[10:10]: If there is a claim made against you and your documents don’t cover you, you don’t have a defence. You need to be clear on what you need to do and understand that what you have in place meets your legal obligations.
[11:05]: Templates have their place but legal documents is not one of them. Businesses aren’t one size fits all.
[12:25]: Download a copy of my Annual Legal Checklist so you know which items apply to your business.
LINKS:
Previous episode mentioned: #85 Let's talk about DIY Templates
Join The Legally Empowered Entrepreneur Masterclass Series here
Get your copy of my Annual Legal Checklist here
Book a Strategy Session with me here
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