I know legal can be a BEAR. It can be confusing, stressful, and just downright annoying (no offense taken here!). It’s one of those things you KNOW you need, but you aren’t always sure about the WHY, WHAT, AND WHEN, right?!
You may believe some things about what you need to get legal as a coach that are just downright not true. On the flip side, it could be hurting your business, especially if it’s keeping you from moving forward.
Here are 3 myths that you may believe about GETTING LEGIT that are just NOT TRUE:
- I need an LLC before I can start my coaching business
- Getting a good client contract in place will cost me thousands of dollars
- Having legal in place is just important for 6 or 7 figure coaches
I’m tired of hearing about these myths and I want to show you that it's time to stop believing those and believe what IS TRUE!
First, you don’t need an LLC to get started or any formal business entity for that matter. ALL YOU NEED is a way to get paid and a contract. That’s it. An LLC is important to get within the first year but it’s not needed on Day 1 - don’t let this myth slow you down. The minute you start selling, you are a sole proprietor - congratulations!
Second, the days of paying an attorney $750/hour to draft a $5,000 contract for you are DONEZO. Destination Legal was born out of a desire to help more people get protected. These days you can get a rock solid coaching contract for just a few hundred dollars.
This third one really gets me, legal is NECESSARY for everyone, I don’t care if you have made $10 or $10,000 - protecting your business is not an option. Because, what isn’t a myth is that if something goes very south in your business and you don’t have the proper protections in place - not only could that impact your personal life (think lost income, stress and lawsuits) but also put your personal assets (home, car, bank accounts) at risk. It’s important to treat your business LIKE A BUSINESS from the beginning. Not only will this ensure that you don’t get sued on Day 1 but it will give you the confidence to keep bringing in MORE and MORE clients.
If you are ready to start treating your business like a business ...why not head over to the Template Shop and see how easy it is to #protectyourpassion®
Sarah Kornblet Waldbuesser, Esq.
Attorney for Coaches & Online Business Owners
After several years at a law firm and a few career jumps, she ended up falling in love with online business and loves helping entrepreneurs achieve their dreams in a smart and protected way. She is also an adventurer, traveler, and food and wine lover. When not at her computer, she loves hanging with her family, having wine with friends, flying around the globe and connecting with other online business owners.