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If you’ve listened to previous episodes, you would have heard frequently talk about the importance of having your legal documents tailored to suit your business. There are a host of reasons why this is the case, and today I hone in on the importance of Terms & Conditions and how they work in conjunction with your business processes & systems.

In this episode, I discuss why Ts & Cs matter and provide some context for the practical applications in which they relate to the daily operations of your business. I talk about why having crystal clear Ts & Cs helps you navigate dispute resolution with ease, build lasting and positive client relationships and gives you peace of mind moving forward in your business. 

LINKS:

Get your free copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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In this season of the podcast I’ve been focusing on sharing practical examples of how the information and content I’ve shared in previous seasons applies in real life. 

If you’ve been listening for a while, you’ll have heard me speak of how vital it is to tailor your business legals to suit your individual business. This includes your Website Terms & Conditions and in this episode I share 4 reasons why you should never copy them from another website.

I discuss how taking someone else’s Website Ts & Cs is a copyright infringement, that they may not even suit your business or protect your business when the time comes to rely on them. I also discuss the importance of professionalism and how copying other Website Ts & Cs reflects poorly on your business. 

As always, prevention is better than cure. Get it done right at the beginning, you’ll not only save yourself a lot of hassle down the track but have confidence moving forward knowing you’ve set your business up for success.

LINKS:

Get your free copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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

Facebook:https://www.facebook.com/traceymylecharanesolicitor

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In this season of the podcast, I’m focusing on giving you real-life examples of my clients to help bring some context around the recommendations that I’ve been making throughout the last 2 seasons. A lot of these clients unfortunately engaged my services when they found themselves in sticky situations but hopefully, their experiences can help you avoid the same pitfalls.

In this episode, I talk about the all-important Terms and Conditions and what can happen if you don’t have them in place. I discuss how having carefully prepared Ts & Cs makes it easy to navigate through payment disputes, refund and cancellation policies and what your obligations are under the Australian Consumer Law.

I share the example of a client of mine who, having no Ts & Cs in place, relied only on emails and phone conversations to provide a service to her client. You’ll hear what happened when a misunderstanding took place and how it cost her not only financially but also the loss of a business relationship.

As I always say, prevention is better than cure. You’ll never regret doing the work up front to get your business documents in place. And hopefully, you’ll never have to call your business lawyer to get you out of a sticky situation.

LINKS:

Website:tmsolicitor.com.au

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A question I get asked a lot is on the topic of agreements. Do I really need to have them in writing? My answer is always absolutely, without a doubt, yes. I can’t stress highly enough how vital it is to make sure you have your agreements in writing and to make sure they are crystal clear right from the outset.

In this episode, I hone in on the importance of partnership agreements in particular.  Having spent the first 12 years of my career in litigation and dispute resolution, I’ve seen it go wrong time and time again and a failure to have a rock-solid partnership agreement in place is one of the all too common scenarios that lead people to court. If only they had understood that prevention is better than cure.

Drawing on an example of a recent client of mine, I discuss a scenario where four business partners had no partnership agreements in place and describe the devastation that happened when a dispute took place, leaving no party happy with the outcome. I talk about the importance of clarity in your documents, putting your exit plan in writing and how doing so will leave no room for misaligned expectations.

Starting a business is a lot like being in love. Everyone is happy at the beginning, which makes this the perfect time to get all the details nutted out. Then, when disagreements inevitably arise, you’ll have a rock-solid and crystal clear document to refer back to, avoid unnecessary disputes and put the focus back on making your business a success.

LINKS:

Website:tmsolicitor.com.au

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

Facebook:https://www.facebook.com/traceymylecharanesolicitor

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Welcome to the first episode of Season 3.  In seasons 1 and 2, I discussed in rather broad terms some of the vital information that business owners should be aware of. Moving forward, I’ll be diving a bit deeper into these topics, sharing real-life case studies to add context to the information I’ve already delivered.

In this episode, I discuss the all information topic of business structure and what can happen when you’re not operating under the best business structure for you. I discuss the recent government stimulus packages during covid and how a lot of sole traders, unfortunately, missed out on the benefits that corporate entities were entitled to. 

I talk about a common experience that a lot of sole traders have when they are personally liable for their business expenses and the consequences that followed for one of my clients. I also discuss the process of changing business structures and how this created more flexibility for another client who wished to bring on an investor. 

There are many unknowns in life and in business but doing your best to think long term by including business structure in your planning will put your business in good stead for a successful future.

LINKS:

Website: tmsolicitor.com.au

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

Facebook: https://www.facebook.com/traceymylecharanesolicitor

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Welcome to the final episode of season 2. As I conclude the season, I thought it fitting to discuss the topic of selling your business and I bullet point some really important steps you need to take before signing on the dotted line.

Selling a business isn’t a quick operation and in this episode, I talk about the importance of long term planning and surrounding yourself with a team of trusted advisers. I go through some of the vital things you need to think about and list the necessary documentation you should have in place in order to maximise the value of your business. I then discuss the process of a sale to give you an idea of what’s involved.

I’m so grateful that so many of you are tuning in and taking away real value from these episodes. I’ll be back with you for season 3 in a couple of weeks. Until then, don’t hesitate to reach out if I can help you in any way.

LINKS:

Website:tmsolicitor.com.au

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Facebook:https://www.facebook.com/traceymylecharanesolicitor

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In previous episodes, I’ve talked a lot about setting up good foundations for business, discussing what you need to know, why you need to know it and how to go about doing it. In this episode, I talk about how you can build on those solid foundations to keep your business running well.

I share my top 5 tips to help your business stay well, including the all important business legals, licences and insurances and making sure you review these on a regular basis. I also discuss cash flow, which is the cornerstone of every business, and why it’s so important to have debt management policies, procedures and strategies in place.

A thread that runs consistently throughout this podcast is that prevention is better than cure in business. Taking the time to get things right at the start will save a lot of grief, stress and money in the long run and reviewing those vital components regularly will keep your business running in tip-top shape.

LINKS:

Website: tmsolicitor.com.au

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Facebook: https://www.facebook.com/traceymylecharanesolicitor

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In previous episodes, I’ve talked a lot about building solid foundations for your business and making sure that all the necessary framework is established right from the word go. In this episode, I discuss a very important topic for when it’s time to start building your team.

Today I talk about the difference between employees and contractors. I discuss why it’s so important to understand the difference and how doing the work upfront to choose the best fit for your business will prevent you from entering into legal battles in the future.

I discuss the importance of establishing the right agreements for your business and what can go wrong if the agreements you enter into don’t line up with the conditions put in place. 

LINKS:

Website:tmsolicitor.com.au

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Facebook:https://www.facebook.com/traceymylecharanesolicitor

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At some point, every business owner encounters a sticky situation. Whether it be a client dispute, a misunderstanding with a business partner or landlord or difficulty with a supplier, it’s inevitable that things go wrong sometimes. 

Having spent the first 12 years of my career in litigation and dispute resolution, I know all too well the loss and heartache that can follow these situations getting out of hand. Sadly, many of the situations my clients found themselves in could have been avoided if they had known how to handle things differently.

In this episode, I share 4 things NOT to do when things go wrong in business. I talk about staying objective rather than getting emotional and taking things personally and discuss what can go wrong when situations are ignored. I talk about making sure you surround yourself with a team of trusted advisors and how they can help you navigate through difficult situations to find resolution. 

I also discuss the importance of having a solid strategy to work through a dispute and share an example of what this might look like in your business. Every business is different and there is no one size fits all approach, but if you stay calm, objective and seek to understand, in my experience, most situations can be resolved quickly and quietly.

As I always say, prevention is better than cure. Unfortunately, some circumstances are unavoidable but you can certainly be prepared to know how you will navigate through those difficult situations.

LINKS:

Website:tmsolicitor.com.au

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Going into business with a friend can sound like a really great idea and many people do it successfully. Unfortunately, I’ve seen it time and time again where misunderstandings, life changes and frustrations lead to the breakdown of the business and also the friendship.  The good news is, these breakdowns are often avoidable with the right preparation and a rock-solid iron-clad agreement.

In this episode, I flag the areas that I consider absolutely vital when going into business with a friend. I discuss the importance of recording your agreement in writing and being crystal clear on every little thing, down to the smallest detail. I share some of the common areas that lead to breakdowns and how taking the time to do things properly can help you navigate any grey areas that arise between business and friends.

The best scenario is that you’ll never have to rely on your document but if you are starting a business with your friend, do it with your eyes open and take the time to put everything in writing at the very beginning. You’ll never regret putting the care and attention into something that could potentially save your business and your friendship.

LINKS:

Website:tmsolicitor.com.au

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

Facebook:https://www.facebook.com/traceymylecharanesolicito