Ep. 10 - Leveraging Financial and Legal Resources as an Entrepreneur

Andrew Smith and Lucas Mitchell dive into the importance of legal and financial considerations when starting a business, including business formation, contracts, and protecting intellectual property. The conversation highlights the importance of having a legal resource to reach out to for advice and guidance through all stages of your business journey. On the financial side, they  recommend keeping separate business and personal accounts and discuss how and when to utilize a bookkeeper and accountant to fully leverage your time and maximize business tax advantages. 

 

Key Takeaways

02:17 Acknowledging the Challenges of Entrepreneurship

05:44 Importance of Legal and Financial Considerations

09:43 Starting Small and Business Formation

12:58 Adapting and Evolving in Business

21:12 The Importance of Legal Documents and Templates

23:01 Having a Legal Resource for Advice and Guidance

28:14 Managing Bookkeeping and Accounting

35:32 The Role of a CPA or Tax Advisor

43:31 Clear Communication and a Crystal Clear Vision

Disclaimer: The hosts speak from their own personal experience and this content is not intended to provide legal or financial advice. Please consult legal counsel and tax professionals with specific questions about your business.
For recommendations on resources, please email podcast@nourishandsow.com 

 

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