Are you considering selling your business, stepping back from it, or thinking of taking on a partner or investment to grow it further?
Learn about many steps you can take early on to set yourself and your business up for success down the road when you're ready for an exit, in this month’s series of podcast episodes.
In this episode, I cover the legal basics you need to have in place before even thinking about leaving or stepping back in your business:
- The importance of making sure your contracts are airtight (and a resource to help if you're not sure yours are)
- Why your contracts need to be regularly revisited, especially if an exit is on the horizon
- The importance of choosing the right corporate entity
- Getting a handle on your business's intellectual property assets with an audit or inventory
Key takeaway: A little preparation before you’re ready to sell or take on a partner or investor in your business will take time and financial resources. But if you’re planning to build your business to sell it so you can lounge on the beach with a cocktail in your hand, or take on investment so you can grow your business to the next level, planning for the future now has its benefits.
Additional resources:
Forbes.com article about Autumn: https://www.forbes.com/sites/kellyhoey/2018/09/20/podcasting-and-working-with-influencers-is-how-this-attorney-is-scaling-her-practice/#3199465331f5
Small Business Administration: www.sba.gov
SBA checklists: TSBDC Checklist and TSBDC Small Business Orientation Packet
Customizable contract templates for online businesses: https://awbfirm.com/contract-templates/
This podcast is information, not legal advice specific to your situation.
