In Show 045 – Business Legal Lifecycle in 2018 originally broadcast on Facebook Live on Wednesday 27 December 2017 we explore this interesting topic.
It’s the last show of 2017! We wanted to use this episode to recap some of what we have spoken about over the last year. And we want to give you a preview of what you can expect in 2018. We have been building The Business Legal Lifecycle for a while now but we now want to expand into other countries. Our goal is to offer low-cost and easily understood legal advice for everyone.
One of the new products we are going to roll out this year is a free test. The test will give you some really valuable information about where you are in your business and where you need to go. The BLL is divided into four different sections. It outlines what you need at the beginning middle and end of your businesses life. The first focusses on the start-up phase. The second is on the consolidation phase. The third deals with scaling up the business. And the fourth and last section talks about the business exit phase. We are working on new books that will expand on each of those sections and will provide more detail. Each of those books will be released this year.
Our international expansion is well under way. We are already collaborating with a lawyer in the UK to develop a UK specific version of the BLL. We also want to bring additional versions to the US and Canada. Our long-term goal is to take this product worldwide.
BLL TV and the podcast are also going to continue through 2018. We are going to bring you a lot of new interviews with many business experts.
We are going to be focussing on Phase 6 of the BLL which is all about maximizing your current business and bringing in new investors. We are going to detail the best ways to get the most out of your current business model. Investors are a big part of expanding the business. Dan Holden will be one of our guests on investors. Dan has a lot of experience on how to maximize and grow a business using shareholders agreements.
We are going to discuss Phase 9 in February which is about real estate investments and investments in general. Investing in property is a great strategy for increasing your capital. To that end we will detail how to deal with real estate agents. We are also going to show why investing in property early in the business is often a good idea.
Most business owners have a long term plan of selling the business. In March we are going to discuss the best ways to prepare your business for that sale. Maximizing the sale price is hugely important. There are many individual parts of the business that need to be prepared for an eventual sale. It isn’t always easy to do that but we are going to give you a step-by-step guide.
No business owner wants to even think about the possibility of their firm going under. But if that misfortune should occur you need to do it right. April will all be about insolvency and the best ways to wind-up the business. Understanding this process can be difficult. The consequences of bankruptcy and insolvency can be severe so you need to educate yourself.
We will cover Phase 4 in May. It’s all about bringing on employees and how to do that correctly. The costs of an unfair dismissal lawsuit can be high. Having your employment agreements in place is hugely important. You have many obligations when hiring people. Detailing their rights and responsibilities must be done in accordance with the law. If you don’t do this right from the start you could be headed for trouble down the road.
It’s the end of the financial year in June and we will be discussing dispute resolution that month. The debt recovery process is really important at the end of the year and you may have to take people to court. Litigation can be avoided using a dispute resolution process that will save you a lot of money in the end.
July will mark the one year anniversary of BLL TV and we will be doing something a little different that month. We will be discussing both Phase 8: Estate Planning and Phase 12: Retirement. Retiring can mean selling the business or winding down the business if a sale can’t be made. Estate planning is really important for the succession plan of the business. If something were to happen to you clearly detailing who should get the business is really important.
We are going to be discussing with many of the business owners who have been helped by the BLL in August. We are also going to be talking about how the BLL applies in other countries around the world.
We’re really excited about the upcoming year and we hope to provide you with excellent legal value over the next 12 months and beyond!
More about this Show
We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.
Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.