EP184: The Must-Know Legalities When Scaling To 7-Figures & Beyond

Not all parts of business are sexy! But some are absolutely necessary. Andrea Henry, founder and CEO of Henry Business Law, joins me for this podcast episode as we continue our Millionaire Mindset series. Andrea started her firm with $1000, three clients and A LOT of hustle – growing her business to 6-figures in under a year. This is the type of success she now wants for her clients. You might think that this conversation may not apply to you ‘yet’ because, in your mind, you haven’t ‘made it’ yet, but believe me, it’s a must-listen for anyone in business. Andrea and I talk about how to set up your business correctly from a legal standpoint and we dive into the things you will want to start thinking about right away regardless of where you are.    More About Andrea Andrea is a Cambridge-educated lawyer with more than a decade of experience working with businesses of all sizes and at every stage of the entrepreneurial journey. She is the daughter of an entrepreneur and is pretty much obsessed with all things business. Andrea has expertise in working with all kinds of clients, specifically those in regulated industries.    What We Talk About In This Episode: The benefits of delegation - both personally and professionally Transitioning from the ‘doing’ to ‘leading’ The importance of having systems and processes in place The legalities of being successful in an incorporated business Knowing what to do with surplus funds Your legacy, estate planning and asset protection The shift in mindset from being a sole proprietor in business to a self-operating company What it means to be a responsible business owner Addressing worst-case scenarios by planning ahead  The positive energy around protecting your assets The importance of acting now and not waiting to protect yourself and your company Conquering upper limit problems   Things We Mention In This Episode: Andrea on Instagram: @henrybusinesslaw Andrea on Facebook: https://www.facebook.com/henrybusinesslaw/ Andrea’s Website: Henry Business Law and The Secure Startup The Big Leap by Gay Hendricks   Here’s How To Subscribe & Leave A Review (pretty-please): Want to get notified when I release new episodes so you don’t miss a thing? Click here to subscribe to the podcast on iTunes. And it would mean the world to me if you’d leave a rating and review. I’d love to know what you think of the podcast and how I can make it better for you. Plus iTunes tells me that podcast reviews are really important and the more reviews the podcast has the easier it will be to get the podcast in front of more people, which is the ultimate goal. You can leave a review right here.   Let’s Keep The Conversation Going… What steps have you taken to protect yourself and your business? I would love to hear all about it and I’m sure others would too. Comment below and share your story or visit me on Instagram which is currently my favourite way to connect.  You can also join my free online community to connect with more than 25,000 other health practitioners just like you to ask questions, share wins and struggles, and get lots of support from me and my team! I hope to see you there.