When I start working with a new client, a question I frequently ask is: "What do you want to achieve in this next season of your business?" Nearly every time, the responses revolve around gaining more clients, revenue or growth. Yet, the tool that most powerfully supports this growth is often misunderstood—the legal documents.

I get it - legals aren’t the most exciting part of the business growth journey. But legal documents that are tailored specifically for you are a powerful undercurrent in your business that ensure not just protection, but propel you towards sustainable success. To me, they are vital. 

In this episode, we're talking about:

- Why your legals are the hidden force behind your business growth

- Guarding against legal pitfalls

- Creating seamless client journeys with your legals

- The cost of misaligned legal documents

- Q&A: Legal document length and refund policies 

If you haven’t looked at properly tailoring your legal documents for your business, I encourage you to reconsider the vital role they play in growing a sustainable business. If recognised as the powerful tools they are, they will consistently support your vision for growth.

If you need help getting your legals done right, feel free to reach out. Let’s get you started on your journey to accelerated growth in business!

LINKS:

Episode Website:  https://tmsolicitor.com.au/rise-up-in-business-podcast/the-hidden-force-behind-business-growth

Sign up for my fortnightly Briefing Notes here

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Keeping up with legal updates can be overwhelming and confusing. If you’re like most of my clients, you’ve probably felt unsure about where to source reliable information. With the huge amount of content floating around online, it’s easy to get lost in what's accurate and applicable to you. So, today I’m guiding you through some critical legal changes you need to be aware of as a service-based small business owner. 

Wage Compliance

One topic gaining significant attention is wage compliance. As of 1st January, intentionally underpaying employees is now a criminal offence. If you’re uncertain about your compliance, I strongly encourage you to consult the Fair Work website, particularly the Voluntary Small Business Wage Compliance Code. Making sure you're on the right side of this law is crucial so engage your accountant or legal team to ensure you’re meeting all necessary standards.

Understanding Privacy Law Overhauls

The privacy legislation is outdated and the current exemptions for small businesses are going to be removed, which means privacy compliance is not an option - it’s a necessity. 

You need to have a compliant privacy policy accessible on the home page of your website, showcasing transparency with your clients about how you handle their data. Particularly in this climate where more and more people are doing things online, being crystal clear on your compliance with the way you manage personal data is essential. 

The Right to Disconnect

Don’t worry - you’re not going to jail if one of your employees gets an email from a client out of business hours. But make sure that you start discussions with your team now to establish clear after-hours communication policies. Understanding what’s reasonable in your specific context is crucial to ensuring compliance.

Industry Specific - Tax and BAS agents

For tax and BAS agents, new mandates from 1st July will require stricter adherence to record-keeping and quality management standards. Ensure your documents, disclosures, and client agreements reflect these changes. There is a lot of information here, so if you're overwhelmed by everything you need to go through, my advice is to make a list and start from the top. 

Industry Specific - Interior Designers

For those in construction or interior design, pay attention to the ban on importing certain engineered stone products like benchtops, panels and slabs. You have a positive obligation now to know what's banned and what's not. Make sure you keep this front of mind when making selections with your clients.

Unfair Contract Terms

It’s absolutely vital that your client service agreements do not include any unfair contract terms, particularly when it comes to your termination clause. If there are any unfair terms, your entire contract will be considered null and void and you’ll have absolutely nothing to stand on.

With everything when it comes to business law, staying compliant involves constant vigilance and surrounding yourself with the right professionals. If you’re unsure about any changes to the law, feel free to reach out. I’d love to help.

LINKS:

Sign up for my fortnightly Briefing Notes here

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Let’s talk about AI and business contracts. If you're like me, you're always on the lookout for tools that could streamline our work processes, save us time and of course, save us a bit of money. But when it comes to something as critical as business contracts, should we actually entrust this task to AI? This discussion is more important than ever, considering AI is becoming an indelible part of our lives, whether we like it or not.

To give you some context, when I talk about AI in this realm, I refer to the likes of generative AI and anthropic AI, such as chatbots like ChatGPT and Claude AI. They're great at churning out content, but when the stakes are high and involve the legalities of business contracts, there's a lot to consider. 

Today, we'll unpack some of the looming questions around AI, exploring: 

- Whether AI should have a role in developing business contracts

- The risk of breaching confidentiality when using AI for automating business contracts

- The importance of incorporating human knowledge into AI contract review and analysis

- The positive side of AI in business

While AI offers some intriguing prospects, when it comes to the complexities and nuances of business contracts, I would advise caution. The technology isn't yet advanced enough to replace the tailored, up-to-date expertise required in legal practices. As we tread this fast-moving landscape, let's focus on harnessing AI to benefit our businesses, but always within the parameters of due diligence and legal compliance.

LINKS:

Episode Website:  https://tmsolicitor.com.au/rise-up-in-business-podcast/

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

It’s the 200th episode of the Rise Up in Business podcast and I want to celebrate by talking about one of my all-time favourite topics—contracts. 

They’re not just a legal requirement to get out of the way. When done right, they can be a powerful tool for navigating the stress and success of running your own business. 

So what’s the difference between an ineffective contract, and an excellent one? 

Well, the first thing to remember is that your contracts belong to you—yes, even if a lawyer drafts them. They're an extension of your business brand. It's so crucial to ensure they look and sound like your business. 

Imagine presenting a 42-page contract drafted in indecipherable jargon to your clients. Is that a good look? Absolutely not. 

Instead, we want to create contracts that are on-brand, understandable, and worthy of pride. This is your business’s voice, after all.

When I’m drafting or reviewing contracts, I focus on the following four pillars of excellence: 

1. Protection

Contracts must provide security for both parties involved. It’s not just about warding off potential issues for yourself but also about setting clear expectations for your clients. This includes detailing the services offered, setting boundaries, and clearly defining terms to avoid what's known as scope creep.

2. Clarity

The primary purpose of a contract is to lay down clear expectations. Define responsibilities, timelines, and terms of payment explicitly. By doing so, you can avoid surprises and ensure that both parties are aligned in terms of what is expected.. Not only does it help you navigate misunderstandings, it makes sure you preserve the relationship too! 

3. Practicality

Contracts need to work practically in real-world scenarios. Whether dealing with situations where a client defaults on payments or adjusting the scope of work, your contract should provide a clear framework for these eventualities. By doing so, you empower yourself to act confidently without the fear of overstepping legal boundaries.

 4. Flexibility

Allow your contracts room to breathe and grow with your business. They should be adaptable enough to accommodate changes without requiring a total rewrite every time your business takes a new direction.

Once you’ve considered these pillars, you also need to be wary of common 'contract killers' that could sabotage your efforts. Unnecessary formality, missing essential clauses, unenforceable provisions, and inconsistent terminology can all undermine your contract's effectiveness and your professionalism. So get help from a professional who can make sure your contracts are legally compliant and reflect your brand. 

Ultimately, excellent contracts are your most crucial business tool. They underpin growth, protect against risk, ensure you get paid, and help navigate tricky situations. Whether it’s a client service agreement, employment contract, or website terms, the principles remain the same. Make sure they're clear, protective, practical, and flexible.

LINKS:

Episode Website:  https://tmsolicitor.com.au/rise-up-in-business-podcast/what-makes-an-excellent-contract

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Ready to leave behind the corporate grind and become your own boss? 

You’re not alone!

Over the last year, I've seen a big increase in clients seeking my guidance as they set up their own businesses. They come from various industries, each with unique skills and backgrounds, but they’re all asking the same question: "How do I successfully make this leap?"

I absolutely love answering this question and helping budding business owners feel confident and secure as they set out on their journey. Which is why today I’m breaking down what you need to consider from a legal perspective when moving from corporate to consultancy.

1. Your Business Structure:

 Choosing the right business structure isn’t just a box to tick; it’s a foundational decision. I see a lot of people jump in as a sole trader to 'test the waters’, thinking they can reassess later.  But I can't stress enough how important it is to get this right from the start! Each option carries its own set of risks, so it's crucial to understand which path suits your industry and personal goals best. I know it can feel overwhelming, so get help from a knowledgeable business lawyer or accountant to work out what will work best for you!

2. The Necessity of Insurance:

The question isn’t whether you need insurance or not (you do), but what kind of insurance you need. Insurance protects your enterprise from unforeseen liabilities, and some larger clients wont work with you if you don’t have it. Connect with a reliable insurance broker to work out what policies suit your needs. They can walk you through the nuances of different policies and help you choose the best fit without relying on anonymous online templates.

3. Guarding Your Intellectual Property:

 When you're taking the plunge to start your consultancy, it's vital to consider your intellectual property (IP). What ideas and materials are you bringing into your new business, and are they truly yours to use? Beyond identifying what you can legally use, we must also look at how best to protect your IP. By setting clear parameters for sharing and using your IP, you can prevent conflicts and ensure your ideas remain yours

4. Regulatory Compliance:

Don’t underestimate the importance of regulatory compliance, particularly if your industry demands specific licences or certifications. In the corporate world, these were often managed for you, but now it’s your responsibility. Be sure to fully understand your obligations to avoid any unwelcome surprises.

5. Client Service Agreements:

 Many new business owners feel uneasy about presenting their own agreement, wondering if they should simply use the client’s, but this is a recipe for trouble. Work closely with your business lawyer to craft an agreement that reflects your business ethos and protects your interests. It should detail service scope, payment terms, confidentiality, IP usage, and termination conditions.

6. Pitfalls to watch out for:

Never rush into accepting revisions to your agreement just to secure a client. Take the time to seek legal advice and understand the implications fully.

Beware the handshake agreement! It doesn’t matter if they’re a stranger or a long-time friend, every client should go through the same onboarding process to ensure nothing falls through the cracks.

Steer clear of using template agreements that might not suit your business. They might seem cost-effective at first, but tailored documentation is the way to ensure comprehensive protection.

So remember, transitioning from corporate to consultancy is a significant move, and it's perfectly normal to seek guidance on this path. If you’ve still got questions or want more tailored advice, reach out. I'm here to help you make this journey as smooth and successful as possible!

LINKS:<

As we find ourselves in this time of year ripe with fresh starts and renewed perspectives, I wanted to share an important conversation I'm having frequently: aligning with the right clients and parting ways where necessary. 

Letting go of clients who no longer align with our evolving goals can be tough. I know from stories shared by many of my lovely clients that this can be quite daunting. You feel that dreaded stomach drop at the thought of having "the talk,".

Let me assure you, you are absolutely not alone. Every business owner faces this at some point in their journey. Wanting to work with more aligned clients is a positive indicator of growth—it's a necessary part of evolution. Recognising misaligned client relationships isn't a reflection of carrying out something incorrectly; it's merely an acknowledgment of normal progress. 

Think of it like ripping off a Bandaid; the quicker the better. The more we stress over it, the worse it seems. 

Today, I'm taking you through the practical steps to best approach this delicate process:

1. Assess Your Client Service Agreement

2. Plan Your Exit Strategy

3. Consider the Handover Process

4. Communicate Transparently

5. Follow Through with Integrity

By framing the process as an opportunity for both parties, letting go of misaligned clients can become a mutually beneficial step. Terminating a contract doesn't have to be awful, and when handled with care, it can reinforce your brand's integrity and values. 

I believe that both you and your clients deserve to thrive in partnerships that excite and inspire. If you need assistance or feel out of your depth, don't hesitate to reach out. You don't have to navigate these waters alone. Remember, your support network can be instrumental during these challenging times.

LINKS:

Episode Website: https://tmsolicitor.com.au/rise-up-in-business-podcast/starting-fresh-with-aligned-clients-ending-client-contracts

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

As we step into a fresh year, there's often an energy, a spark, a readiness to tackle the things we've previously put off. And if you’re anything like me, one of those things you’ve been delaying getting stuck into is your digital presence. Specifically, LinkedIn. 

For years, I eyed LinkedIn from a distance, slightly overwhelmed and uncertain about how to start, until the end of last year when I decided it was time for a change. And today, who better to help guide us in navigating these sometimes murky waters than Amy Smith, an online business coach for service-based business owners and someone whose insights I hold in high regard.

Amy also happens to be a LinkedIn marketing specialist, helping business owners, coaches and consultants to grow their businesses and brands online. She has personally grown her own LinkedIn profile to over 30,000+ 1st degree connections and has had over a million interactions on her content on the platform.

One of Amy's key pieces of advice is to niche beyond the niche. By narrowing your focus, you position yourself as the go-to expert in that space, attracting the premium clients we all desire.

Once your profile is polished and primed, the next step is content creation. Think of them as content lanes – themes around which your expertise and message revolve. Amy uses the analogy of bowling with bumper guards, ensuring your content stays on track rather than veering off into every trend that catches your eye. Stay in your lane, and talk to your dream client as though they’re the only one listening.

Is success measured by connections, engagement, leads, or conversions? Amy cautions against getting too caught up in numbers like total connections. Instead, focus on building quality connections with people directly relevant to your niche.

Amy has been a treasure trove of information, and these insights are just the beginning. If you've been holding back, unsure where to start with LinkedIn, now's the time to dive in. Her full guide and more can be found on her website amylsmith.com, and she's also active on LinkedIn for more real-time tips and support.

So, drop me a line or shoot me a DM to let me know your thoughts on how you’ll make the most of this powerful digital platform.

Will LinkedIn form part of your strategy this year? 

LINKS:

Connect with Amy: 

Website: https://amylsmith.com/ 

LinkedIn:https://www.linkedin.com/in/amylsmithcoach/ 

Episode Website:  https://tmsolicitor.com.au/rise-up-in-business-podcast/the-power-of-linkedin-for-service-based-businesses-with-amy-smith

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

As we step into the new year brimming with potential and opportunity, I find myself reflecting deeply on the lessons that have shaped my journey. I hope your festive season was everything you wished for, filled with joy, relaxation, and precious moments with loved ones. As we transition back into the hustle and bustle of business, I want to share a revelation that has been pivotal for me—a lesson that even after nearly six years in my current business and over a decade earlier in litigation, I continually revisit. It’s a lesson in boundaries and the complex dynamics between business and friendship.

As accidental friends—those we perceive as more than mere contacts due to regular business interactions—the line between professional relationships and personal friendships can blur all too easily. For years, I found myself repeatedly grappling with the notion that business partnerships meant true friendship. It was a cycle that led to misunderstanding whenever those connections inevitably shifted once the professional tie ended.

Perhaps you, too, have felt the strain of relationships built solely on business endeavours. Rather than exhausting you, understanding this lesson can be empowering if used as a catalyst for personal growth. Acknowledging this challenge doesn't diminish your care or moderation but rather enhances the quality and sustenance of both your work and personal relationships.

As we embrace this year, let's enter it with newfound awareness and openness to learning. Establishing clear boundaries in business helps not only in thriving professionally but also in managing personal energy efficiently. This clarity can transform disappointment into gratitude for the lessons learned, guiding healthier interactions.

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

As we near the end of another year, it's a time filled with joy and festivities that naturally lend themselves to reflection and renewal. I've managed to create a smooth transition into this season, and while it hasn't always been seamless, I've learned to cherish this time as an opportunity to reset and prepare for the year ahead. 

Today, I’m sharing with you my process for doing just that. This reflection process is something I hold dear and has been a key component of my personal and professional growth. Reflecting on past experiences, it's evident that a year-end reset didn’t happen by accident. It’s a meticulous process I’ve cultivated over nearly six years since starting my business, focusing on reflection and resetting to bridge the gap between where I am and where I want to be. 

As a business owner juggling various responsibilities, my life is not only about work but also about maintaining harmony between business and personal commitments. Practices like journaling allow me to explore ideas and understand the meanings behind my actions, helping me achieve clarity and purpose. It provides the grounding I need, especially during my reflection periods.

Reflecting back on previous years, I identify areas of struggle or imbalance, such as the enormous guilt associated with taking personal time away from work. In overcoming this, I now permit myself guilt-free joy and relaxation, understanding that personal wellbeing directly impacts business health. This year, I even avoided the pitfalls of past burnout phases by recalibrating my expectations and redefining success metrics to focus more on personal satisfaction and less on rigid, financial achievements.

My reflection and reset process isn’t a once-a-year exercise but an ongoing series of check-ins, a connection with my soul’s goals and life priorities. I've poured a lot of thought into sharing this process with you, and hope you find it enriching and applicable as you reflect on your own journey.

Thank you for joining me in this reflective space. If you’ve found value in my journey, I encourage you to share this reflection with a friend or colleague, helping to spread inspiration and insight. Until next time!


LINKS

Episode Website:  https://tmsolicitor.com.au/rise-up-in-business-podcast/my-end-of-year-reflection-reset-process

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

The end of the year is a time of celebration and joy, but as a business owner, it's important to remember that your legal responsibilities don't take a holiday. One aspect that requires careful consideration is the end of year Christmas party. In today’s episode, I'll provide you with some tips and tricks to ensure a safe and enjoyable event for everyone involved.

The most important thing to remember is that your Christmas party is still a work event. This means that you have legal responsibilities towards your employees, even if they are not being paid for attending the party, and it's essential to be mindful of this fact throughout the planning and execution of the event.

If you choose to serve alcohol at your end of year party, extra precautions are necessary. To ensure the safety of everyone, you need to provide a controlled environment for alcohol consumption. The best way to do this is to have someone with the appropriate qualifications serving drinks at your event. 

I’ll talk about what to consider when choosing a venue. Opting for a venue outside of your premises can be a great way to ensure a safer environment. However, it's crucial to do your due diligence and understand the details of the venue so that you can mitigate potential risks and liability.

It’s important to clearly communicate to your team that the standard of behavior expected at the party should be no different from what is expected in the workplace. It's also helpful to establish a clear end time for the event, setting boundaries and allowing employees to plan accordingly.

Secret Santa can be a source of potential issues in the workplace. To avoid any conflicts or uncomfortable situations, it's important to make it clear to all team members that the gifts exchanged should be G-rated and neutral. The gifts should be suitable for opening in front of family members to prevent any potential cases of discrimination or harassment. Humorous gifts, in particular, should be avoided, as humor can differ greatly from person to person, and what may be funny to some can offend others.

Ultimately, the goal of an end of year celebration is to foster a sense of appreciation and joy while keeping your business and employees safe. By taking a proactive and mindful approach, you can create a positive and safe environment for your team, allowing everyone to ring in the new year with a clean slate and without legal headaches.

Wishing you a joyful and risk-free end of year celebration!

LINKS:

Get your copy of my Annual Legal Checklist here

Check out my Getting Paid Made Easy course here

Website:tmsolicitor.com.au

Instagram:https://www.instagram.com/tmsolicitor/

Book a Strategy Session with me here