The Conversations with a Business Attorney podcast is your legal guide to navigating the challenges and opportunities that arise throughout the life cycle of a business. Jeff Large, a start-up business owner, explores topics like operator agreements, employee retention, and the value of protecting your company with Rhoades McKee Attorneys. Don’t get lost, listen and learn.
Tony Pearson, a business attorney at Rhoades McKee, talks about building your professional team and protecting against risks when starting your business.
In This Episode You’ll Learn:
- The main professionals to hire to protect you and your business
- What business entity option is best for your company’s goals and growth
- How to balance risk when starting a business
The team that you build to support your business is often made up of four main members; accountant, attorney, insurance agent, and coach. Tony discusses the role each plays in setting up your business to either assist in the creative side or to balance the risk element. But he sets a realistic expectation of how each business owner’s experience can impact who and how these roles are filled:
“The less that you have skills and experience dealing with that, the more I would prioritize having legal representation.” [5:17]
Taking a step back, Tony uses experiences to share how to set up business entities and the ways they protect a business owner. These stories demonstrate how to know which entity could be the right fit.
Tony discusses the customization of choosing your business team and entity:
“If you can find your ideal flexibility point and tax treatment point, we can combine the flexibility of the various entities to accomplish your purpose.” [29:14]
He shares some first steps and what to consider before going to your attorney. Tony reminds business owners that it can feel daunting at first, but the work is worth doing right to ensure you’re protecting what you’ve built.
Click here to read the transcription of the full interview for Episode 1.
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