Entrepreneur Like You

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

📞 Schedule A Call With Me - https://llcfreedom.com/calendar

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🔈 Listen To My Podcast - https://llcfreedom.com/podcast

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Join My FB GROUP: https://llcfreedom.com/group

Youtube: https://llcfreedom.com/youtube

Welcome to the entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way.

Today is the first day of the month and the first day of the month. Always. It's kind of a huge eye-opener because a lot of money gets trapped it out for a lot of different things. You know, like obviously like rent everywhere is, do office rent is due. Um, I have a storage unit that I say every month I went to clean out because it's a pointless expense and that's like 200 bucks a month and its, you know, then there's like website building software that uh, the monthly charge comes out on that and it's just like, holy crap, like that are just so many. Like auto drafted funds that come out at the beginning of each month. And I've been talking about on here how April was, was by far my most successful month. But then I look at my bank account at the beginning of the month and you're just like, OK, gotTa, build it back up, get up, get ready for next month.

Like one of the biggest expenses that we have is just health insurance. That's something you've got to think about when you're an entrepreneur is that you're not really able to rely on kind of cheaper health insurance right now in health health care, health expenses are some of the most expensive. That's one of the most expensive things on earth to deal with. Um, that's why it's so important to have health insurance. But that's also like one of the reasons that health insurance sucks so bad because it's so expensive and most of the time, especially for an entrepreneur, you're on the cheapest possible plan if you have a family and it only covers hardly anything. It's just there in case of like you break your arm and you have like, you know, $20,000 hospital stay or some crazy thing, which isn't that hard to get to. Like it's doesn't take that much to get to stay in the hospital.

But that leads me back to kind of why the [inaudible] when you're dealing with real estate is so freaking important because when you have tenants on a property, like you own a piece of property and there's somebody renting that piece of property, those are human beings in that house. And I talked about this with somebody yesterday. She called and was like, do I need a separate llc for this one aspect of my business versus this other aspect. One of the, one of the sides of our business was buying and holding real estate and putting tenants in there. I was like, look, everybody's different. It's all about how much risk you're willing to take. But here's an example of, of how the type of risk that's associated with having tenants in the house. Human beings are very fragile and very, um, opportunistic sometimes. But that's not even really what it's about.

It's not about like scumbag lawyers or something like drug dredging up a case that against your, your, your business or your or you personally. If you don't have an we'll see a just to make some money. A lot of times that's because people have medical bills, medical bills are expensive, and there's not really a great way to get a break on it like you're getting billed by the hospital. If you go to the hospital, maybe you have some way to pay those bills, maybe you have insurance, maybe you don't, but a lot of times people don't, or insurance companies don't pay or they're looking for some way to just get themselves out of like a $10,000 hole, which can happen real quick with medical expenses. So somebody slips and falls. This is an example we talked about. Somebody slips and falls on the, on the ice, despite the fact that that's not your fault as the owner of a house.

Um, it doesn't even have to be somebody that lives. There could be just some kid walking to the bus stop or something. Somebody slips and falls and breaks their arm. That's a lot of money for them to get that fixed. You don't know their situation. You don't know what their insurance company is going to do. You don't know how much that hospital is going to charge them. You don't know if they have some special circumstance where they get their bones broken, especially easy. There's this rule in a civil law tort law that's called the, I think it's called the egg shell. What is it? I can't remember the actual t, the, the nickname of the rule, but the rule means this. You take the, the injured party as you find them, meaning like if they have some special disease where every time they fall down like the guy and unbreakable, they break every bone in their body.

You can't say, well, that's like a weird circumstance that we shouldn't have to pay for that because that's an odd circumstances. Does that person know that's that person's situation? And if they fall and break every bone in their body just because they slipped on some ice and just tumbled off one stair or something like that, uh, that. And you lose that lawsuit, you're still responsible for all those bills. So it's, I really don't use scare tactics in my marketing or when I'm talking with potential clients or people that want to get an llc set up that are asking me questions about how lawsuits can come about. Um, I'm just, that's just the honest truth of what can happen. This is not some random situation that I've made up that stuff happens every day. The courts are so full with litigation and lawsuits that they force people to try to arbitrate first because there's so many cases that came and handle them.

That's like everywhere around the country lawsuits or one of the ways that we settle grievances in the United States. It's not that it's like slime ball attorneys are slimeball opportunistic, a tenants or whatever. It may be somebody slipping and falling in a grocery store or something like that. It's not that there's, they're out necessarily always to just get an opportunity or it's always some frivolous bad thing that they're doing. One of the time. It's just, that's the only option they have. You have to look at it from their perspective. Like medical bills are expensive, so you need to protect yourself. They're just trying to protect themselves. Lawsuits are how we recoup money, how money changes hands in this country, like it or not, that is just the way that disputes get settled here. So I mean, we're not like using, you know, 15 paces turnaround engine and dual or something to shoot each other lawsuits or a civilized way to do it.

And uh, I don't know of any better way to do it unfortunately, and, but you don't want to find yourself, you know, on the, on the losing end of a lawsuit and not have an LLC in place. Those are kind of the things that, that I've been dealing with this month. Finances for people. You don't know what their situation is, you don't know what your tenant situation is. And um, you know, if they get injured, they have every right to come back on and, and look for something from you to help them if, if there's been an unsafe situation. So either way, not trying to scare you, these are just the realities of doing real estate business. Talk to you guys soon. Hey guys, thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast, so I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc, freedom dot [inaudible] slash get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc freedom.com/gets sued and pick that up today.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

📞 Schedule A Call With Me - https://llcfreedom.com/calendar

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🔈 Listen To My Podcast - https://llcfreedom.com/podcast

------

Join My FB GROUP: https://llcfreedom.com/group

Youtube: https://llcfreedom.com/youtube

Welcome to the entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way. Hey guys, chance reynolds here with episode.

I honestly can't remember. I was sitting here trying to think if it's episode five or six, but it's either five or six. Have coffee on white trash porches with garbage. I'm generally on this show. I'm just talking about my business and how the previous week went. Um, the main portion of my business right now is selling low c's. I am a business attorney, best selling author on a book about diy LLC creation. Um, so, so that's kind of what I do in my business. It's llc freedom is the name of the business. I'm kind of doing more of a, trying to do a little bit more seo savvy branding of have bought the url, that LLC guy. I'm trying to kind of work that some. See if that will work as far as the personal brand. So people will be like, I don't want them to have to remember chance Reynolds and definitely like llc freedom.

The name of the business in my mind was like, you can get an llc and you're more free to do other things. Like that was the idea behind the name when I started it. But uh, never caught on. Nobody understands it. They're like, oh, it llc freedom. We don't have freedom LLC. And it's like, no, that's not by business. There's already a freedom llc. I wouldn't want to be free to mellow, see, even if it had been available that that's my business, just so you know, the backside of it. And I've seen crazy growth through April. April was just a really, really good month. Normally I go back just through the week, but I'm going to just talk about exactly what happened this entire month, what that translated to in terms of growth in my business and kind of what, how I'm moving forward in my business, you know, over the next month.

So at the very beginning of April, I think it was probably the first week I started doing facebook laws. I sort of following, I'm a real estate investment course on personal branding that talked about how to, uh, do free advertising essentially like how to get, get people to meet people that are going to give you referrals in the, a real estate investment niche specifically. So I started doing that, but I instead of like pushing out content that was related to real estate investment and wholesaling houses and things like that, I just started promoting the business that I already had, which was the llc creation business and it just like blew up. So. So step one was move everything off of your business page that I've been doing facebook lives and stuff like that and posting content and I podcast every day and doing stuff like this for a while, for probably about six to eight months I've been doing it like on and off.

Um, mainly because I didn't have an office to do it and I didn't have the courage to do a lot of it. So finally I got the courage to do it and it just still isn't. You had to kind of put money behind it. So that's what I was doing. I was doing facebook lives through my business page and then promoting that out to try to build a following and it worked a little bit, but it was costing me money like I would, I would put less than $5 a day behind an ad, um, through my facebook business page and it would grow and people would see it, but I wasn't really, I didn't have a good way to capture their information and then you know, kind of market to them more directly other than just retargeting people that had already seen the ad. So I was been doing that for several months.

It was working, I was getting clients that way here and there. It wasn't like a real steady stream, like a, like every business needs to maintain and grow, but it was good. But I'm still looking for other ways to market and do personal branding stuff as you can tell because I was seeking out this other course. And then another whole line of a stream of income and real estate investment, like getting really interested in that. So it turns out like that I've found the real estate investment niche was like, just like online entrepreneurs, they really curious about the LLC but not really moving forward, not knowing like where to turn a lot of super bad advice in the facebook groups there and stuff. So I was like, you know, I really want to do real estate investment, but I'm just going to go ahead and like fill this void real quick and see what happens.

So I started posting, you know, free value posts in facebook groups related to real estate investment, which I've done for all entrepreneurs tons of times. I've talked about that on here. Just basically saying, here's my credibility. I'm an attorney, here's the LLC, here's what it does, here's why you need it. A given like what you're doing in this, what the people in this facebook business group are doing. Um, if you don't have an LLC, this, these are the risks. If you do have one, this is how it protects you. This is how much it costs. Here's how to move forward. Then I reached out to the owner of that group and I told him, no, I, I, s I saw what was going on in the group that people didn't understand. [inaudible] told him I'd be willing to provide like a really good deal for people in his group and educate them if he would let me do that and just kind of like tell them, hey, here's what it does.

If you need someone to help you, I'm here to help you go over to my personal facebook profile. At that time I was just driving them straight to my facebook messenger, but it just got so big I couldn't do that, so I started driving them to my calendar, which is like one of the biggest changes that's ever happened in my business. You can tell this is a very low production because my ac is like turning off and on in the background, but so I started pushing it into my calendar instead where they were booking. I asked for their email address from building my email list of even if I'm not closing those people, even if they're not showing up for the calendar meeting, I now I'm building an email list. I'm getting telephone numbers. I am, uh, you know, talking to people on the phone, figuring out what their problems are and started closing a lot more.

And my calendar filled up crazy. The first two weeks were the biggest two weeks in my business when I started doing this and using my personal facebook profile instead of my business page. So I kind of skipped over that part. But when I, when I started doing the real estate investment stuff and I got this course on how to do it and it turned out that the course, I thought it was going to be a course on like step by step guide on how to approach sellers, find them, negotiate with them, stuff like that and help them avoid the foreclosure in all the details like that. But it turned out it wasn't that at all. It was just a personal branding like forget like all the traditional means of marketing that real estate investors are doing rather than do that do all these other things where you were making a, building your network with, with relevant people in your area.

And I realized that this will work for any business and the, one of the first things that said to do was forget about business. You can have a business page or a personal, a public profile, a public figure page or something like that if you want. And eventually you do want to do that. But in the beginning, just use your own personal facebook profile. Max it out to [inaudible] friends. Um, people will start to follow you and then use that as a platform to show them what valuable solution you provide. So I did that, uh, that I did the facebook group posts, drove people directly to my facebook page, didn't facebook lives every day where I took q and a's on [inaudible]. That just blew it up. Like all those things in combination just created a number of leads and a number of conversations with people that like 10 times of what I'd had before.

So I was like, OK, this is clearly the most powerful thing I've ever had. Any facebook ads that have worked as well. I've never done youtube videos that have worked as well. I've never done anything on a business profile page that's worth this. Well, like this works. This is a genuine way to, to build a business. So I did that crazy for two weeks, felt up, filled up my calendar like where I was just on calls all day, making sales. This last week I did less lives. I think I only did maybe one or two facebook lives and I made half the sales. So I'm very, very clear on the fact that the facebook live from your, from your personal page, from your personal profile rather, um, is is the most valuable thing you can do on facebook as far as branding. And if you're, if you're closing people like on the phone rather than like have some automated system where you're selling info products.

I really think that a facebook live is the biggest driver of that this last week, the downturn in the amount of clients I new clients that I took on as proof of that to me. So that's exciting to kind of figure that out. Obviously I didn't want to make less sales this week, but I was kind of sick and I was like, Eh, fuck. If I make, if I, if I take on more clients right now, like it's going to be a disservice to the clients that I already have. I need to make sure they're like sewn up. So I've focused less on bringing in new business this week and more on just closing out the existing business that I had so that, that was good. I mean it's, you get nervous like when your numbers start dropping off a little bit, but you know what the driver of those numbers are, which in my case is facebook live.

So super big lessons this week. I really am. And just excited about moving forward with, with all the different businesses and business ideas that I have. Like I'm still super invested, AH, mentally in real estate investment and I want to move forward on that. I will be moving forward on that. I'm probably like about a month away from possibly launching a foreclosure litigation law firm with the, with the other attorney, a partner, and you know, he has to get his situation correct first and then so are just kind of waiting on him. He's the, the foreclosure expert out of the two of us and I've kind of started the businesses that we're going to team up and see if we can make something happen on that front as far as providing a solution to people that are going through foreclosures. Um, as well as real estate solutions, like multiple solutions to help people avoid getting a foreclosure on their record and avoid having to take a chapter 13 bankruptcy, which is what a lot of people do.

So we have some alternatives and ideas on how to drive that forward. I'm really excited about using personal branding to drive that business forward as well because that's really a trust based business as it should be because people are trusting their futures with you, their homes with a couple hundred bucks here, there. This is like major investments that they've made that they need help with. So that's what's going on with me. I'm jabbering on like crazy. But uh, it was a fun week and thank you so much for watching. If you have something, you know, any issue with the [inaudible] you want to chat with someone who's foreign them all over the country. Definitely reach out to me at [inaudible] freedom.com/calendar. Something else interesting happened this week. I might. I'm debating on whether or not I shouldn't talk about. I had an angry, not an angry client whatsoever. I had an angry clients.

Mom actually reached out to me is an accountant and uh, I kept telling the guy asked your accountant this as your accountant that. And it turns out his mom was his accountant and she reached out to me and didn't understand really what I was doing. It was really like pissed, like a mama bear thinking I was taking advantage of her son and I had to explain to her, no, I'm not actually, this is like this crazy good deal that I'm giving to your son and I understand I have a kid and I had kind of a tiger mom. Like that was like come out and attack people. That was very protective. So I was like, I get what's going on, talk to talk to her off the ledge. Uh, hopefully, like, I think she was still a little bit skeptical at the end, but that was the first time I ever had an angry mom reached out and just be like questioning my morality, my ethics I guess. Uh, but that was very interesting. So reminded me of my childhood either way. Had talked to you guys next week. Hey guys. Thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast.

So I'm going to keep it up and I just wanted to say thank you. Also, if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc freedom.com/get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc freedom.com/get sued and pick that up today.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

📞 Schedule A Call With Me - https://llcfreedom.com/calendar

-----

🔈 Listen To My Podcast - https://llcfreedom.com/podcast

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Join My FB GROUP: https://llcfreedom.com/group

Youtube: https://llcfreedom.com/youtube

Welcome to the entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way. So this podcast is about how you, oh, you

can't do everything in your business yourself. A lot of us who are starting businesses, you know, and it's just us when we start and you're thinking about your business long-term and you're like, I only need to do a couple things to be successful and you only look at your business as yourself and maybe your like down the road I might hire somebody to help me out like an assistant or something, but for the most part I can do everything. And as, as someone who started a lot of businesses, some that have succeeded, some that failed, I can tell you the ones that I started off thinking I could do everything in the business, all failed. There's just no reason to do it that way. You might have some vivid imagination of how your business is going to bloom and blossom and you only need this many customers per month and to accomplish this many things per month, but it doesn't work that way.

Especially if you have a service based business, you cannot expect that you can grow your business, get your new leads, do your marketing, complete the tasks that need to be completed, um, and push everything forward and, and you know, handle the money, handle the promotions, handle your social media, you know, make sure your website's up, do the blogging, seo so you can not do all that stuff yourself. And it's not about just hiring freelancers. I mean, of course this depends on the, on the business. If you just have one infoproduct you're going to sell, maybe you could pull. So you know a little bit more of this off. But as soon as you start getting clients, it's not gonna work anymore. Like if you have any sort of service that you have to provide, you cannot do it yourself. You cannot do it. So when I first started selling my, my [inaudible] I was doing everything myself and, and I was trying to figure out like where do I fit into this business?

That's kind of a weird thing you might think to think about your own business because it's like you know where you fit into the old business that you started, but when you start your business you don't know. You probably don't know like what your role is going to be in that business and it can't just be, you are the business people get confused by that because a personal branding is such a big thing with business and it's more. It's pretty important to have a personal brand when you're, when you're doing anything that's going to be online and you're going to be promoting it through social media or something like that. You want to be able to have a face of the company. It will give you other opportunities if people know, like, and trust you to branch out in the future. So it's a long term play because it's not like you're going to be famous, but, but being known in a group for being a trustworthy person can give you more business opportunities down the road because other people will come to you with offers and a want your help promoting them and if it's something that's good and you can help your, your current clients or your potential, you know, little tribe of people that listen to what you have to say, then it's valuable for you and your clients and your tribe to cross promote stuff.

That's just how business, especially in the online world works. So building your personal brand long-term is something that is very good, but that doesn't mean that you do every single thing in your business. Yes, you're the face of the business. The business is spawned by your imagination. You created the business and it's your business essentially, but you don't, can't touch every single aspect of the business. There's this book called, uh, I think it's called one big thing. Or is it the one big? The one big thing regardless. And Russell Brunson also talks about this, talking about the big domino, Tim ferriss relative this, and it's not just that these gurus are intuit. It's a realistic way to look at your business. What's the one part of your business that if you do that you see growth in your business? When you can figure out what that is, you won't know that right off the bat.

So in the beginning you have to do all the stuff and at least get an idea of what it is. Unless you have a business partner that can help you do some of that stuff. But you need to think about the one thing that you can do every day. You know, day in, day out that's going to be your role in the company, that when you do that, you see growth in your business. You know, I'm starting to really see where those areas are for me in my business. And it's exactly where all the guru said it would be in the personal branding. I hate to admit that they're right, but that's the, the fact of the matter. So when I do my facebook lives, when I allow people to just call me and talk to me on the phone, you know, and I'm talking directly with people, dealing directly with people, that's the most valuable thing I can do for the business.

That's when I filled the pipeline with more potential leads. I get more sales, more people get all C's and I'm providing more value to people and more people are set up properly because of that. So look at what the mission. Have a clear mission of what you want your business to do. And don't sell yourself short. Don't think only need to make three deals a week. Think I. If I make three deals, yeah, that'd be great, but I'd much rather make 30 because I could help more people. And if you don't think that way, I'm 100 percent convinced that your business will fail. If you don't understand that simple thing, then you will probably fail in your business. It's about being able to help people

with whatever the mission of your businesses and you cannot play every role in that business. You had to think about and really sit down and think about it and try different things. Sometimes it takes testing like business is not easy. It's not so clear cut. It's hard. So as soon as you can figure out what that one thing is, then you can focus on that. Then you delegate the tasks in your business to either virtual assistants, if you want to do it that way. In my case, sometimes I have to delegate to paralegals, legal assistants, things like that. Um, yeah, that's just what you have to do. Figure out what, what, what you could do to drive the business forward and then delegate. That's how you build a business. You cannot think, well, I can handle everything from start to begin, you know, from, from beginning to end on this deal. And I could probably hit about three of those a month. So I just need three. If you will run out, you will be out of business guaranteed. No question. You'll be back at a job very soon. So I've been seeing a lot of that recently and I know the journey because I've gone down that road. So it's not like I'm trying to be above anyone that thinks that that way, but it's just I've seen the results of that in my own business and it just didn't. It doesn't work. Does not work that way.

Hey guys, thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast, so I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to [inaudible] freedom dot [inaudible] slash get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc freedom.com/get sued and pick that up today. Yeah.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

📞 Schedule A Call With Me - https://llcfreedom.com/calendar

-----

🔈 Listen To My Podcast - https://llcfreedom.com/podcast

------

Join My FB GROUP: https://llcfreedom.com/group

Youtube: https://llcfreedom.com/youtube

Welcome to entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way.

OK, so rather than tell a story or talk about the backside of my business, I want to clear something up really quickly about the difference between an LLC and I'm putting up air quotes here and I'll see an s-corp. The reason I'm using quotes is because an LLC, an s corp are essentially the same thing. Now, if that's confusing to you, stick around to the end so you can hear the full explanation. So here's the deal. I get this question. I'm not even joking at least 10 times a day and, uh, as I've wanted to do and become an authority in certain real estate investor groups where any question that's asked about the [inaudible] c a, I get tagged in it, or someone says, talk to chance Reynolds, do whatever. Uh, you know, he's helped me. He can help you. And it's amazing to me how many people have this question.

I can see why now legal zoom has, has created over a million [inaudible] because there are just so many people that need [inaudible] and I'm really starting to see that the real estate industry and the real estate niche is probably the most in need of elsies than any other niche. Very specifically. Either way. Here's the deal. I, so let's, let's just play it out. So somebody comes into real estate investing, they get into a facebook group is what happened to me this morning. I wake up and somebody has asked what's the best llc? An S Corp, a c Corp sole proprietorship or, or, and generally those are the ones that don't understand. Sole proprietorship is just what their default is. Um, they don't know. And why should they know that's not their specialty. They're just trying to flip real estate. And so understanding the old C isn't really there. What isn't what they're aiming to do.

They just want to do business and be safe. So they're doing the smart thing by saying like, what should I do? Should I even take a step? Some people don't even take a step, but here's what happens in the group. They asked the question and people come in and just say, make you make the deal first. Just do it. You don't need to know. We'll see. Just worry about your structure later because they don't understand liability there. Just thinking these people are looking for an excuse not to take action. That's what they're imagining is happening, so they're just like, just do it. Then somebody else will come in and say, no, you need an S-corp. I have an s corp, and they're like, what's an S-corp? And the person who hasn't an score doesn't even understand what an S-corp is, and they say, well, you just create an llc and then you just click a box and an s-corp just means like you're working by yourself and you don't have a big team or something.

It's like, no, that is not at all. Or an S-corp is and probably you'd have like no protection. So that's the big problem. Here's the deal with an LLC versus an s Corp and LLC is what you file with the state. An S-CORP is how you choose to have your entity where you can have a corporation at the state or no, we'll see at the state. Most people are going to have an old c at the state because it's more flexible and it's just, there's no reason to use a corporation instead of an llc at the state level. Um, there's just no reason to do that. Why? Why would you do that? If you're going to have a c Corp and take on a bunch of investors, but you could even do that with an llc at the state level. Regardless, you definitely don't need a c Corp.

You need an llc at the state level and if you do nothing at the like, you just apply for your ein with the ears, you'll have what's considered pass-through taxation. The ears will consider You either a sole proprietor or a general partnership. don't tune out. I know this is techno babble. This is the equivalent of techno babbLe, Like somebody who Creates software, like telling you how the software works and you're like, I don't care. I just want like, you know, to build, to build a quick landing page or whatever, um, whatever the software does, but you need to know this distinction, so llc at the state level so you know, when you, when you apply for your ein, you, they will, uh, tell you, if you're going to use pass-through taxation, if you choose, if you're wanting to be. So let me just lay that out.

Pass-through taxation just means that you're taking all the income of your llc and just reporting it on your personal tax return just as if you had a job or something where you have income, any other income, and it's the simplest way to do it. It's the whole reason that it was created it. So there's not double taxation. Like if you had a c corp that's there's double taxation there. Meaning you're paying a corporate tax, you're paying, you're paying tax at the corporate level as this as if a corporation is an individual in files, its own tax return. This is the organizing. Corporations have the ability to donate money to like political campaigns. And why you hear politicians say like corporations are people, that's why a corporation like actually pays taxes and llc is not generally the default is not that that the llc operates that way.

So the money passes through at the llc comes to you, your personal tax return and if you have a business partner or something in the [inaudible] to their personal tax return and you just pay your taxes on turbo tax or whatever. I mean you shouldn't use turbotax but you understand what I'm saying? Like you just pay your taxes on the income that you made. You don't have that file a separate term for your llc or anything like that. You just file your personal return. If you have an s-corp, it's infinitEly more complicated. But the upside is that there are big savings on the backside potentially. So with it, with an s corp, you've fallen llc at the state level, then you file a 25, 53 with the irs. See already your, this is just a big pain in the ass. Um, when you file that [inaudible], you know, you have to follow that within 70, I think 75 days of creating your llc to do elect to get the s corp status.

There are some other ways you can do it, a late filing and waiting a year and then changing the way that your entity as structured. But this is just generally, if you don't file in the first 75 days, you've kind of missed your window on the s-corp and you're going to end up paying the default pass-through taxation, which is just fine. You're still protected. The s-corp requires you to take a reasonable salary given your industry. The reason they do this is because in an s-corp you take a salary that's taxed at one rate, like the higher rate, the rate, that's like at least probably 20 percent because you're going to pay, you know, if that's just what it, what it is. I'm not a cpa, I'm not going to explain that. Your salaries tax, just like how you would, your, your money that you made on your llc that had pass-through through taxation is taxed.

Then you can take, you can pay out dividends to yourself from the, from the s corp, you know, quarterly or at the end of the year, however you want to do it. Uh, and those will be text. Those are taxed as dividends at a lower rate, generally around 15 percent. So you can say five to 10 percent on taxes, on those [inaudible] dividends. But this is a complicated thing to do. I mean, it's not complicated for cpa or an accountant or somebody that understands that that's been doing it, but for just the regular person who's just trying to operate a business, you shouldn't be doing that wing of it yourself because if you don't do it exactly right, you could lose your liability protection. Not only will you not get the tax benefits, but the ears are the. Even the courts, if you get sued, might take a look at it and say you're not operating this thing as a business.

You have to give them a reasonable salary. And it has to be, you know, it can't be like you pay yourself $10,000 salary and then 100,000 dollars dividends with the lower tax rate, like the ears isn't going to let you get away with that. It has to be like you'd pay yourself a hundred grand and maybe you get 10 or 20 grand, you know, at the [inaudible] dividends. That's just a random example. But you understand what I'm saying? Direct is wants to get their money and they're going to get their money. Like regardless. So s corp can give you good sale, big savings if you have a team in place that can help you structure it. And that's not an insult. Like I wouldn't operate an s-corp just because I don't want the hassle of it unless I was. It was like major savings. I'm an llc with default taxation to me.

I just don't like to mess around with my taxes. You know, you have a right to pay the smallest amount of taxes that you possibly can. And I'm all for that. But at the same time, like I just want the peace of mind of knowing that I'm operating my llc properly because it takes like nothing to operate an loc properly other than just keeping your bank account separate, you know, keeping your business stuff with your business, keeping your personal stuff with your personal. If you do an s-corp, iT's not that easy and the court can see really easily. Just say you're not operating this thing properly, so we're just gonna. Set the whole entity aside and just let somebody sue you personally. That's what happens with people that set up their own. So don't set up your own s-corp llc if you don't understand escorts, and if you don't have an accountant, just get an llc and just use the default pass-through taxation until you can hire a team, an accountant, a cpa that understands escorts to operate it for you. Gosh, there's probably not that many people still listening, but that is the difference between an llc and an escort. Essentially, they're the same thing. It's just how you choose to have them taxed.

Hey guys, thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast, so I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc, freedom dot [inaudible] slash get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc, freedom [inaudible] slash get sued and pick that up today.

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Welcome to the entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way,

at least 10 times before. But when we're talking about it for the 11th time, I guess, so what are the things that people are going to try to get you to do is expand the scope of the services or the products that you're providing. If you're providing a product, it might be a little bit easier to expand it depending on the product, but if you're, if you're providing a service, you can get into deep water really quick because you're desperate to make a sale. So one of the things that I am doing now, I'm really making an effort to do is to be on the phone with new prospects for at least two to three hours a day. I'd prefer three. Um, and last week I was doing like five, six hours a day, but that was too much. I couldn't do the day to day stuff I needed to do.

So I'm shooting for two to three hours a day for new prospects and if you're operating as the sales wing or the prospecting sales wing of your business, which most of you probably are, because most of us are solo entrepreneurs or maybe we have a couple of virtual assistants or maybe one or two employees, and then you. That's your responsibility if you don't. If you're not prospecting today, then what are you gonna do tomorrow for sales? What are you going to do two days from now? Lot of times it takes people two, three, four days before they turn over a sale if you don't close them right on the phone. So I try not to do like a hard close with people on the phone. I'm not in a situation where I'm negotiating like competing necessarily against somebody else. My offer that I'm making is, is kind of what's called an irresistible offer.

So if somebody wants to go somewhere else than the, that's their choice. Whatever. I'm not gonna. Try to give them the hard sell, you know, sell to come with me. I'm not using any urgency or scarcity tactics. Meaning, I'm not saying this offer expires in 24 hours. You need to buy now. I'm not doing that right now. I May. There's nothing wrong with that. I don't look down on that at all, but I'm not doing that. So at least with the offer I'm making right now. So, so prospecting and filling up the pipeline with potential people, letting them know who I am. Um, hopefully if I help them they go off and help tell somebody else how helpful I was is a huge part of my business. But something that people are constantly asking me to do is to help them with estate planning issues.

So they just see that like you're an attorney, they see that you do all season that, you know, you understand asset protection and they're like, OK, but what about leaving my property to my kids in a trust and avoiding probate. These are all things that I understand how to do, but it would me a while to do it and I would have to charge a lot more than, than probably really what I'm worth in that arena because that's not my specialty. Like, that's just not what I do. Um, it's like going to a dentist with a broken arm. It's like guests, they, they're kind of like doctors, but that's not really what they specialize in and, and probably they could have their staff who are nurses and they're equipped to do things and they have machinery there that could measure what's going on with you.

Um, but ultimately they're going to send you down to the doctor down the street. So that's what I try to do with, with those sorts of offers and I don't know, one out of every four people I talked to tries to do that and on top of that I'll have at least, you know, a friend or a family member asked me to do something in that arena. Like anytime somebody dies or gets sick or, or is contemplating even death or they have a family member that does or something, they call me to see what they're supposed to be doing. And it's like, I don't know, like that's not what I do. I'm not a probate attorney, I'm not in a, you know, an estate planning attorney. I'm a business attorney and so people dying is not the business that I want to be in. I guess you could be a business attorney, you know, in your clients were all, you know, cemeteries or morticians or something, but that's not what I do and if they're really close friends, I'll, I'll do my best to help them, but for the most part I just, I, that's just not what I do.

I don't know how to do every single thing and so I could do it. I know how to learn how to do it, but it would take me like a whole day at least to learn how to do it and I can't take a day away from my business so I have to say no to people all the time and I feel really guilty about that. But when I don't do it, I feel a lot worse because then I can't grow my business. I don't have any money to, to pay the bills that I need to pay. So it's really a balance between those things and understanding that you have to just be able to say, I don't know. And you don't even know, it's not your responsibility to refer to them over to somebody either, like, it's not your responsibility to grow a network of people that can help other people with their, their problems.

You want to be able to refer your clients to somebody depending on, on where they are. So it's rough for me because I'm rough. It's, it's, it's complicated for me because I'm in Texas and my clients are kind of a all over the country and I can do that because I'm not providing them legal service as much as I am a providing them with something like a filing service. So I'm giving them business advice, not legal advice while they, it always spills over into them wanting legal advice reasonably. So they're like talking to somebody that's knowledgeable and um, I'm demonstrating that I know a ton about the LLC. You probably more than anyone else they've ever spoken with. And definitely more than all of the, like when I'm talking about real estate people way more than any of their mentors or anything like that about the LLC.

And so they're like, well, I've heard this thing about the trust and the trust is something that, that, you know, I'm, I'm considering building into my business, but they're not asking about it and in a business sense, they're asking about it and like how to move their personal property, uh, you know, after their death in order to avoid probate fees for their kids, stuff like that. I understand it, but it's just, I'm not going to do that in my business. It takes too long and that's not what I'm doing in my business. I don't have like an estate planning firm. So I might be launching, you know, a foreclosure or pre-foreclosure wrong for wrongful foreclosure from here very soon. And in that business I will be handling a lot of pre foreclosure discussion, but I'm only going to be doing that with very select group of people that were kind of targeting, you know, in the state of Texas.

I can't do that all over there. Certain legal. I can't really give legal advice outside of the state of Texas period. Um, and people don't want to hear that. They're just like, I got an attorney on the phone. It's free is the first time I talked to attorney in a long time. Probably the last thing. I'm going to talk to one in a long time. They want all their questions answered. I've had people just straight up say, I know that, uh, you're only giving away 30 minutes for this consult for free, but, uh, I need like an hour maybe more. And it's like, OK, right now just saying, OK, let's do it. As long as I don't have a, another client meeting right after that, like stacked 30 minutes later, I'm like, OK, I'll do that. Like, that's not something I'm going to say no to, but if they're asking me to, you know, spend five, six, seven hours researching, drafting something up, maybe possibly using one of my paralegals to help me do that.

I'm not going to do, I'm going to have to say no. I'm going to have to say no. And you have to learn how to say no to the time consuming things in your business. You want to provide people with what they want. That's, you know, if you, if you're not asking your potential clients what they want and then providing it to them, then you'll probably go out of business, but you can't give them everything they want, you know, focus on a couple of those things and once they start going further and further out from what you do, then you have to learn how to say no.

Hey guys, thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast. I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc, freedom dot [inaudible] slash get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to [inaudible] freedom.com/get sued and pick that up today. Yeah.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

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Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

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Welcome to the entrepreneur like you with business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal marketing strategies and storytelling tactics that will help you grow your business the right way.

Alright guys, so doing a little weekly wrap up. It's been a great two weeks. It is Friday and it is April 20th. So yeah, I'm sure going to see plenty of awesome for 20 posts today. So yeah. Um, this week the big thing I've been doing over the past two weeks is just, or that I'm seeing, I guess provide the most value and provide the most returns is just providing valuable information to people. So I don't care if that's facebook live, youtube, you know, twitter, however you're doing it this week I'll explain exactly what I'm doing. I'm providing value through facebook live and through facebook groups and then I'm telling people if they want more or something more specific to them, a strategy that might work better for them, not legal advice but some sort of business advice and then they can book a time on my calendar when they book a time on my calendar.

I call them back, I answer all their questions. I talked for at least 15 to 30 minutes to each person sometimes longer, and I answer every single question that they have and they're, they're always extremely glad and happy. And then they, then they know me, they like me, and then they trust me for if they become customers. Some of them don't, some of them probably hate me. They feel like they, they don't, they don't know me, that I'm untrustworthy. Whatever the opposite of know, like, and trust is a, that's probably the feeling that some of them have. Some of them are skeptical. I talked to someone yesterday and she was just like, um, she was actually from Russia, Super Nice Lady, but she was like, I don't understand like, why you're doing this at these prices. That doesn't really make any sense. This is not like a salesforce actually happened. I was like, well, here's the mission of my company. This is what I'm doing, you know, and it's not like I'm doing it for free. I am making money off of it. Um, and she was just like, yeah, OK, I get that. I mean, I wasn't able to help her. She needed to hire an attorney. That's what I told her to do. Um, hire local attorney in Washington. But yeah, there's just, there's nothing

better.

OK,

as far as like moving someone from just cold, not knowing who you are, too warm or even red hot as a client or a purchaser, a then just providing them with free value and answering their questions. Some of them will take the, the value that you gave them and go off and do it themselves or hire somebody else. Whatever. Demonstrate every day, that's fine, but as long as some of them don't, then you're good. Next time that person, they provided value value to need something they're going to call you. If they know somebody who's in a similar situation, they're going to tell them about you. So that's been the big thing. I'm, I'm, as I've talked about on here before, I'm probably hopefully like very close to launching a wrongful foreclosure litigation, pre foreclosure litigations, what I like to call it technically, I guess it's wrongful foreclosure litigation firm with a friend of mine who's a wrongful foreclosure litigation attorney and we're kind of discussing it and he doesn't, he's not so much an entrepreneur so he hasn't really done much marketing on his own and that's one of the reasons why we're teaming up because I've done so much and he knows more about the foreclosure side of it and I know more about the starting the entrepreneurial side and the marketing side and he's extremely skeptical about like, I'm just like, look, we're just going to provide value this way.

You know what? We're going to provide a bunch of free value and then that will help. And he's like, OK, the website, like what's it gonna look like? You know exactly where I was when I first started a business. He's really concerned about the website, not realizing that like the website, like nobody asked to see my website. I mean, you need something there to send people so they can book your calendar and you don't want it to just look terrible, but uh, it doesn't have to be very much explains who you are, you know, how, what, what's, what solution you provide and kind of tells your story a little bit, but really you just want to figure out how to, how to move them onto the phone and start talking to you because it's not like it's an info product, you know, you need, they are going to want to talk to a human being.

And so I was like, that's not really the first thing we should be worried about is the website. In fact, that's like not even really in the top five things that we should care about. We can pay 100 bucks and get something thrown up. And he's just like, no, we need like thousands of dollars. I was like, dude, no, trust me. I was in the same boat that you're in. Um, that's not what's important, but you can't convince people otherwise. So I just went and made like a little list of the top 10, a peripheral closure websites that come up on Google and showed them to them and they're not, they're all just garbage. They're all garbage. I mean, yes, they're at the top of Google when you, when you look at that. But uh, the websites themselves, they're not, there's nothing spectacular about them. There's hardly any of them get, get it right.

I don't think they're there. They're like stock websites that are put up that are just specifically to get people to the top of Google. I don't think when people go there, they're impressed by any means. I don't think that's really the goal of them, but it's just not the route I would go. And I'd rather have no website that have those websites. Honestly, I think you'd be just as successful as long as you just have a calendar. You can say, go to this website, here's, here's the calendar and that takes, you know, 10 bucks to do that. So anyway, that's what's going on this week. Just value providing value for me. It turns out that the best way to provide values, to get people to book a call with me, schedule time on my calendar and give me a call and then I can answer your questions if you're trying to fake it till you make it and you don't really know anything about what your businesses.

Of course you can't do that, but you still could really. You could outsource it. You could have people book it and to have a little option of what they're going to ask about and then do a three-way skype call with the person who's knowledgeable. You just like, do like a introduction. Hey, this is chance you reached out to me about Seo. This is James is our ceo guy who was, maybe he's in freaking London. It doesn't matter. It doesn't matter. Like that's one way you can do it if you're just like the sales wing of your business. So either way, that's what's going on this week. It's been an awesome week, but a really great two weeks. Uh, everything moving forward. I, I added another team member yesterday to handle some of this stuff is starting to pile up that I want to get on top of, so work with two team members now, um, to prayer, to paralegals. It's awesome. It's just been cool. Hope everybody has had a great week. He'll be, have a great weekend. Talk to you next week.

Hey guys. Thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast, so I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to [inaudible] slash get sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to LLC, freedom [inaudible] slash get sued and pick that up today.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

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Welcome to the entrepreneur like you business attorney and entrepreneur chance reynolds, a daily podcast that brings you the best legal tips, marketing strategies and storytelling tactics that will help you grow your business the right way. I've talked a lot about

giving people what they want, so a lot of times if you don't know what product or service you're going to create, you kind of just figuring out who your audience is that you're going to serve and you ask them what they want. Like if you're gonna try to serve Internet marketers. You would try to figure out a way to like do a q and a, figuring out what questions and problems they have and then solve those problems. You don't want to just think about what problem you have and not know if anybody else even cares about that problem and then you know, create some product without, without understanding what the market is asking for and needing. And that goes pretty deep. And I've talked about that a whole lot of times on the podcasts since its inception because it's something that I struggled with in previous businesses and even in every business I've ever had, successful or not.

Um, you have to pivot, you have to figure out eventually people will start asking me for something else and you have to decide, you know, do you want to provide that or do you not want to provide that? I mean, you don't have to do everything that people want you to do. So for example, yesterday I got on a call, I talked to tons of attorneys all the time. Um, a lot of them are extremely curious what it is that I'm doing with my llc business. And of course they all have opinions. And, uh, just one random attorney that I spoke to was trying to tell me, uh, you know, what I should be doing this is this, is this thing. Like, people always think that they know, despite the fact that they may not have ever been in a successful business ever. They may be.

I'm one cog in the wheel at a law firm. And maybe they're a great attorney, agreed attorney doesn't necessarily understand [inaudible], a great attorney. Didn't necessarily understand what your market wants. I'm a great attorney. May Not really understand business or even how to talk to somebody, you know. That's, that's one thing that I've realized that a major issue with some attorneys, they might be the smartest person you've ever met in your life, but a, they don't know enough. They don't have enough, I should say, social skills to really do a q and a with you and figure out what it is that you're, what, what it is that makes your situation unique. And so to me that's like a big problem. If I'm talking thinking about doing business with somebody and they're asking me to do something essentially because they don't know how to do it, they might, you fill some gap in their business and they want you to do it for free.

I'm like, push them business. You should do this. You should go into the do on facebook and go to the. And it's like, are you on facebook? Well, not really. I like to keep my stuff private sick. You don't know anything, you don't know anything about how to accomplish what you're thinking you need to accomplish. You're asking me to accomplish it for you and uh, I'm not in the business of just creating other people's businesses for free. So that's something that's been just going on daily. It's not any one particular person or attorney or client or anything like that, but at some point you have to stop thinking about giving people what they want, what you've discovered, what your niche wants, and you've created it and you've given it to them. Um, and it's, it's not some finite product that is going to expire and that you had to keep building things on top of and on top of and on top of.

You might not need to continue to expand what you're offering. If you have a good offer and it works and it continues to work, yes, you have to innovate, you have to pivot. You have to potentially create higher end offers and upsells and one time offers and all these things that can, you know, double and triple the, the profitability of your business. And it's just creating different offers. It's like you know, any, any store that just sells one thing and has no variation, you don't really see those in existence. You just don't really see those in existence. There's multiple products from every successful business, so you had to think about that. But at the same time you can't just infinitely scale your business if, if, if that's not within your means and capabilities. So you have to figure out like is what you're doing working.

If it is, maybe you should consider doing some upsells, but maybe you shouldn't. Maybe you should consider for me, for example, people want me to do contracts every day, but contracts are going to take me a long time to talk to people. I wanna I want to help people. I want to be valuable to people, but I can't spend my time doing questions and answers with the every person that I do on that little see for to figure out what their con contractual situation is. That's just. I'm not really interested in doing that. If I had a two more actual attorneys on staff in my office or something like that and I was operating a law firm, I would say yes, of course that would be like the bread and butter of what we did, but that's not what I do with my company. I'm probably about to launch a law firm helping a pre foreclosure situations with a business partner and we're going to get asked all these same sorts of things to do to do every single legal thing and the book that you can think of, but that can really stop your growth.

Sometimes. If I spent a day dealing with somebody's contract and I'm not going to charge them a thousand, 1500 bucks or something like that, then I'm potentially losing long-term sales in my business because my. My team isn't that big. It's me. I have a virtual assistant who handles nothing really legal. It's just like branding stuff and then I have a freelancer that I use for helping me with the actual llc stuff. It's an attorney. We're operating as a paralegal essentially underneath me and that's worked out great and I'll probably continue to build that out and I'll probably eventually hire other, a legal assistant or paralegal to be an office with me, but I don't want to have a staff of 10, 20 people that are in one office, um, in order to just take on any possible thing that comes my way. I'm not interested in doing that.

I want to give the people what they want, but I also have to keep in mind what the vision of my life is, my business, and if my goal is to the mission of my businesses to create, sees I can't spend my time creating contracts. They're making an appointment. People don't want to [inaudible] and all they wanted were contracts. Then I might have a business that that's all that that it does is contractual style stuff or a law firm. That's all they do, but it's much more limited what I can do in that arena because of my profession. So you've got to balance your vision of your company, the mission of your company and your business versus what other people want you to do. People ask you to do all sorts of stuff. You don't have to do it. You can say no. You have to say no if you want your business to grow.

Hey guys. Thank you so much for listening. I really, really appreciate everybody tuning in and all the great feedback I'm getting about the podcast, so I'm going to keep it up and I just wanted to say thank you. Also if you want to figure out the three ways that most entrepreneurs are getting themselves sued, you can head over to llc freedom. [inaudible] gets sued. I have a little freebie there that kind of outlines the three major ways that people are getting sued and how they can easily be avoided. So hop over to llc freedom.com/get sued and pick that up today.

Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

📞 Schedule A Call With Me - https://llcfreedom.com/calendar

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Hello! I'm Chance Reynolds - AKA - That LLC Guy. Here's How You Can Follow Me everywhere to see how I'm building my businesses!

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Alright guys, coffee on white trash porches with garbage episode three. This is my third take. Trying to get this this morning because my other phone, I was like on us 45 percent. It will, uh, like I have two phones, my wife and now I'm using my wife's phone and it has 45 percent sure of the record, like a six, seven minute video. Then I got into like the 10 minute territory and it died and I lost the entire episode. So I'm going to try to keep this one like under five minutes. Seriously tried to. But uh, I was just super hyped about this week. So episodes one and two I talked kind of about what type of branding I'm doing for my business as far as specifically personal branding, how, what steps I'm taking to make myself more known, more available to my niche market, which are entrepreneurs, real estate investors generally that awe need ll c's

get that out of the way. Um, and this week was, was I've had every, every, every week since I started using those strategies of, of opening up my facebook. I'm talking directly to the entrepreneurs, you know, through my personal facebook profile, making videos pretty much every day for 45 videos a week, driving people to my personal calendar to actually talk to them on the phone about their situation, about, about. They're just answer their questions, really solve whatever problem they have related to the LLC if I can. And um, what else am I doing branding wise? Uh, I mean, that's pretty much it. Just just establishing that I am, have a value in that arena, that I have a solution to a problem that these people, um, that potential clients, not these people that potential clients might need help solving. And I, I do it for a pretty much an irresistible offer which is I'll do operating agreement, you know, create the [inaudible] and help you get your Ein for a pretty low price.

Varies depending on whether or not I've worked out a deal with, with certain people on facebook groups, things like that. But it's low, it's as low as anywhere. Um, but yeah, it had a big week and I want to, I want to explain when I say I had a big week that, that doesn't mean that I had, you know, a $10,000 day or anything like that. I didn't have 100,000 dollar. I'm not going to have to make 100,000 dollars this month or anything crazy like that. I just mean I had success that I talked with a bunch of people, some people purchase my services and you know, so I am making a profit for sure, but I'm not ever going to have in my llc business $10,000 days, anything like that. Not with the product I'm offering right now. And that's just fun. The mission of my company, Llc Freedom, which is a company that sets up [inaudible] is to help as many entrepreneurs get their llc set up properly.

So not just sheer numbers. Um, and I've talked about on my podcast, entrepreneur like you is my podcast, which is a daily podcast where I kind of do this, but I talk about more specific things and various what I talk about. But, um, I've talked about on there that I want to take down legal zoom. I do have that goal that's like my Gary v buying the jets goal where it's like, that's clearly not going to happen because they have billions of dollars invested in that company. It's a massive company. But, uh, ultimately that's what I strive to do is provide a better solution than what they have. And realistically right now I'm not going to have to do more than 50 to 60 llc in a month or something. So you could do the math on that. It's not, I'm not gonna Break The bank with my llc business, but that's not the goal of that business.

Now down the line, I may talk to so many entrepreneurs that I'm going to understand other problems that they have and I may create some higher valued course or solution to like real estate entrepreneurs. Like asset protection is a big thing for, um, advanced asset protection is a big thing for, for real estate investors. So you can charge five, $10,000 for like a seminar style course where you can work one on one with, with real estate investors that aren't in the beginning stages where it's like they have a lot of homes in five to $10,000 to them to make sure everything's set up properly to all their homes and their assets are segregated properly. A, that's not a lot for them because sometimes when you're, when you're rolling over deals, $10,000 on a deal, this is just one deal. So I probably will do something like that in the future as my base grows and people that have helped now or succeeding, they'll probably come back to me for more solutions because they know, like, and trust me because I've helped them.

That's not why I'm helping them. I don't have a plan down the road, but just being a business person, being someone that's at least somewhat looking to the future, um, that that's probably something that people will start asking me to do. And I like to solve people's problems in that arena. And I especially like to solve people's problems that have already bought something from me, so I feel an obligation to help them, you know, and I can't do it for free. I can't do it for like two to $300, which is like what I'm doing cs for because it's more advanced. Um, so probably I'll have something down the road where I'll have a $10,000 day or 100,000 dollar month or something. You never know. That's not really my goal. I don't, I'm not gonna consider myself successful if I don't make 100,000 dollars in a month, like that's, it's OK for me to not make that much.

I don't do that much to be happy, but it wouldn't make me happy to make that much as well. But personal branding this week really super hardcore paid off. I've talked about so much in the past on my podcast, how paid traffic is really the measure of a lot of businesses. And I'm starting to kind of rethink that. I really think it's the free traffic. It's how you handle getting referrals into your business. That at least for me, has been much more important, much, much, much more important on a larger scale. If you're selling something that is more automated, like a course paid traffic, yes, you need to be able to drive paid traffic to something where you can just scale it infinitely and that does make sense because referral sources, once they get cut off, if that's your only source of business, how are you going to keep moving forward?

You're kind of relying on someone else, but if you're driving paid traffic, you're relying on another platform as well. Like something like facebook. So it's a, it's a double edged sword in a way, but you can scale crazy. I'm with paid traffic for sure, but for my business right now, paid traffic just wasn't doing nearly at all what a just free traffic is doing referral traffic and just providing value to people straight up for free on facebook and on Youtube. I haven't cracked the code on Youtube yet, but it's getting, getting, you know, more to the point where that might be successful. Anyway, I'm just rambling on like how I do every time on these. Um, but it was a great week a, I just, I'm so grateful that this approach worked. I was not a surprise to really at all that it worked and that I was on the phone, like back to back off one call on another call off one call on another call just exhausted by the end of the day, which is how I'd like to end my days.

This is why I went into business for myself. So I'll probably put all this strategy on the backside after another month or so into some sort of course of that that will be something more automated because it's so super valuable. It's been so valuable to me. I want to lay out the steps of what I'm doing and kind of show the backside of what I'm doing for sure. But that's not why I'm doing this. It's not the end goal is in a course or something. But uh, if I can provide a solution for people, people are reaching out, like, how are you doing this? If I can help them do that, providing them that for free up front kind of make sense. And I'll tell, tell you what I'm doing, but on a larger scale, if I can help more people because what I'm doing is working so well, uh, I don't mind like throwing something together and charging a little bit of money for it because it's valuable and when people pay for something, they're much more likely to actually follow through and take the steps that are needed.

So, but right now it's still just learning and implementing and uh, it's just, it's been an awesome week. Super grateful, super happy to be doing it. I Love Setting Up lcs, I love talking with people about their businesses and uh, I'm going to keep doing that. So if that's you, if you are curious about the LLC and you want help from mere you just have questions, I will get on the phone with you. Schedule a time at [inaudible] freedom dot slash calendar. Um, yeah, it's, it's, there's not a whole lot of availability this upcoming week, but there's probably some slots left so you might have to go another weekend to the future to do that. But we just me on facebook, if you have a pressing need for something and I try try to answer everything I can on there as well. If you don't need to get on the phone, we can chat through facebook messenger as well.

Either way, have everybody had a great week in their business. I'm just super excited moving forward and I'm thinking it's still going to keep trending upward with the tactics that I'm using. So I look forward to letting you guys know how that works throughout the week. Check on my podcast, entrepreneur like you, um, you could subscribe to that on Itunes, that entrepreneur like you dot [inaudible] slash subscribed, that will take you over to itunes. What else? A friend me on facebook. Or you can go to my facebook group, LLC, freedom.com/group. That will, will take you out about facebook group. Either way, those are all the ways you can kind of contact me. Hope you're having a great weekend. Hope you have a great week in your business this week. A reach out.