If you’re a longtime listener of this podcast, you will have heard me talk a number of times about the reasons you need to have your legal documents tailored properly for your business. In this episode, I’m talking about one strategy in particular that I believe is key in successfully converting prospects to clients. 

It’s my belief that the first place to start when setting yourself up for success in your business is managing clients’ expectations. From the first touchpoint and onboarding through to off-boarding, it’s crucial to be really strategic about how your clients experience you and your service. This includes being clear on your messaging when it comes to how you show up on things like social media, on your website and in your marketing. 

And while those are more obvious areas in which you can create a positive impression on your audience, putting the same amount of time and energy into our legal documents often gets overlooked. Today I discuss how your legals underpin the integrity and authenticity of what you do and how, when aligned with your branding, they create the consistency that will support potential clients’ trust in you. 

You may be surprised at how much people pay attention to what they’re signing up to. Whether it’s a program, course or mastermind, prospective clients look for assurance that they’re safe to sign up or hit subscribe. Being clear that you prioritise your legal obligations and comply with consumer law will show that you’re a professional and someone who can be trusted. One way to communicate this is by tailoring your terms and conditions to be consistent with your language and branding. 

Legal documents do not have to be dull and boring, and in fact can enhance your overall messaging when you put more of yourself into them. My hope for this episode is that you find a new perspective on your legals, and how empowering they can be when you give them the attention that they deserve.

LINKS:

Connect with Tracey: 

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

A lot of the work I do with my clients is strategic in nature and one of the things I ask them early on is what they stand for in business. When it comes to deciding where to invest in your business, there is a lot of noise out there about what you should be doing. That’s why it’s critical to understand what you stand for so that you can make informed, sustainable decisions that align with you and your business. 

In this episode, my goal is to help you navigate the often confusing world of business investments. I’m not talking about stocks or trading, but the internal investments that can make or break your business, such as engaging with contractors, investing in a coach, upleveling your website or social media advertising. 

Knowing where to invest in your business can be really daunting. There are endless options out there. As business owners, we need to be crystal clear on why we do what we do and stay grounded amidst the alluring quick fix promises that we’re bombarded with on a daily basis. 

So today I’m sharing the three critical questions every business owner needs to answer before making any business decisions - What do you stand for, what drives you, and what are your goals? 

I’ll guide you through what it looks like to get clear on these questions and how the answers directly impact your investment decisions. Whether you’re just starting out or you’re a seasoned business owner, if you want to make strategic, growth-focused decisions, gaining clarity on these questions will help cut out the noise and make your decision making process so much more simple. 

LINKS:

Previous episode mentioned:

Getting Personal: What REALLY drives me in my business

Connect with Tracey: 

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

In today’s episode, I’m getting personal. I wanted to share with you more about my own career journey, in hopes of inspiring anyone looking to uplevel or take that next step forward. I encourage you to join me as I run through what got me started and what really drives me in my business.

When I first started out in my law career, my main driver was wanting to enrich and change people’s lives. However, after a time of working in both criminal and litigation law, I quickly began to lose sight of who I was and what was really important to me. 

Today I share how realigning with my core values set me on the path to a fulfilling career that honours who I am and what I want my life to be. 

Identifying what truly motivates you is vital for every business owner, and I discuss the three pillars that personally drive me in the work I do. Prioritising time, space and connection has allowed me to be the business leader and mother I strive to be. I talk about the ways in which I make room for these three objectives and invite you to get clear on how you can honour your own values.

Running a business is not for the faint-hearted. It’s often hard, and there are many challenges we face along the way. However, once you know what you stand for and learn to stay true to your convictions, everything else becomes much easier. 

If you’re feeling lost or lacking in confidence in how to progress your business further, this episode is for you. I hope you take some valuable insight from my learnings and are inspired to embark on your business journey in the most authentic and soul-led way possible.

LINKS:

Connect with Tracey: 

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

As a small business owner, the idea of being sued can be daunting. The legal process is complex and overwhelming, and the potential consequences can be significant. That's why it's important to understand what actually happens when you're sued, and how to minimise the risk of ending up in court.

In my previous career as a litigation lawyer, I’ve seen firsthand the devastating impact legal disputes can have on businesses. In this episode, I emphasise the importance of prevention over cure, and urge you to ensure your legal documentation and processes are best set up to avoid facing any future damaging legal proceedings.

While I do believe that all businesses should do their best to minimise the risk of being sued, we cannot control the actions of others. That means that in some cases, being taken to court comes at a surprise. Today I take you through the different stages of litigation, what you are obliged to do, and how long you can expect proceedings to take. 

Bringing a dispute to court is not only emotionally draining, but comes at a cost to everyone involved. I talk about legal fees, who pays what, and how you may have to pay a percentage of the other party’s costs when being sued. 

The consequences of litigation are significant and can have a lasting impact on a business's finances, reputation and relationships. I encourage you to reach out to your legal representative for advice on creating a strategy that will best support you in the event of a legal dispute.

LINKS:

Connect with Tracey: 

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

As the end of the financial year approaches, it's the perfect time to review your existing documents, agreements, processes, and systems to ensure that your business is set up for success in the new financial year.

One of the most common questions I get asked is when is the best time to update legal documents and my answer is always the same. The best time is whenever something changes, such as a new hire or a new service offering, or to review your documents annually to ensure that everything is up to date.

In this episode, I talk about the common updates I do for my clients to ensure their legal documents are continuing to protect their businesses as they evolve. I share why updating the Business Ts & Cs is the most common, along with Website Ts & Cs, particularly if you are offering lead magnets, PDF freebies, podcasts, online courses, or masterclasses. Each of these offerings has its nuanced terms and conditions that need to be captured properly in your legal documents.  

I also talk about updating contractor and employment agreements to reflect new conditions, new arrangements, or changes in workplace conditions. This is an excellent opportunity to ensure that everyone is clear on what they're doing moving forward and to help set you up for a great next financial year.

If you haven’t already, make sure you download a copy of my Annual Legal Checklist to help you review your legal documents and ensure that they are up to date and current.

LINKS:

Get your copy of my Annual Legal Checklist here

Check out my Getting Paid Made Easy course here

Connect with Tracey: 

Website:tmsolicitor.com.au

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

Book a Strategy Session with me here

Something I’ve seen a lot is when business owners make decisions based on cost as opposed to quality and what will really meet the needs of their business. Unfortunately, this often costs more in the long run, both financially and, in some cases, in reputation. 

Today I’m talking about why buying cheap in business costs more. I share some examples from working with my clients in the context of legal documents, outsourcing to other professional services such as graphic designers and also how buying cheap can actually end up doing your reputation a disservice. 

Budget and cash flow are real constraints, but regardless of budget, it’s important to bring awareness to how and where you spend money and make informed decisions according to the values of your business. There will be times when you might choose to invest in something less costly for the short term, knowing that eventually your business will evolve and you will uplevel in due course. In these situations, you’re making a conscious, intentional choice and you know what you’re signing up for. 

Unfortunately, it’s when business owners try to take shortcuts by doing things themselves that it can really cost in the long run. This is true for a lot of professional services, and certainly true for legal documents. I talk about the particular use of legal templates and how many clients have come to me for help after having purchased templates that left their businesses unprotected. 

I also talk about why we need to make sure that every connection point with our audience is on brand, of a certain level of quality and aligns with the values that we stand for in our business. Otherwise, if you buy cheap when it comes to the content you’re putting out there, it will cost you in terms of reputation. 

When you are crystal clear on your values, expectations and what your business really needs, it helps you to target the right professionals and spend your money in an intentional way. Doing this will not only get you a professional result, but save you so much time, money and headache in the long run. 

LINKS:

Connect with Tracey: 

Get your copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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

Book a Strategy Session with me here

Legal services are an essential part of running a business but understanding how lawyers charge for their services and knowing what to watch out for can save you some headaches (and money) down the line. So, I’m here to help you unravel the mysteries of lawyer fees together.

In this episode, I’ll take you through the legal requirements we lawyers must follow, finding the right fit for you, understanding how different lawyers in different practice areas charge differently, and the different methods lawyers can use to bill a client.

It's absolutely essential to have open and transparent communication with your lawyer about billing expectations from the very beginning. Make sure you discuss and receive their client service agreement that includes any potential additional charges. This will help avoid any misunderstandings down the line.

One common method of payment for a lawyer is the hourly rate. This is fairly easy to understand and means that you'll be billed for the actual time spent working on your case. Hourly rates can vary depending on the lawyer's experience, expertise, and location.

Now, remember not everything a lawyer does will be charged at their hourly rate. Administrative tasks, such as making copies or sending emails, are often billed separately. These additional charges, known as disbursements or out-of-pocket expenses, can quickly add up, so it's wise to discuss them with your lawyer and have a clear understanding of what to expect.

Another billing method that's becoming more popular is the flat fee or fixed fee. This is the charging method I use in my business with clients and I find it works best for me. This means you'll pay a predetermined agreed-upon amount for a specific legal service. This approach provides transparency and allows you to budget accordingly. However, remember to discuss the scope of work covered by the flat fee to avoid any surprises and, if needed, your lawyer can change and update it if the nature of the work changes.

Sometimes, lawyers may also offer contingency fees, particularly in certain types of cases like personal injury or compensation disputes. In a contingency fee arrangement, the lawyer will only be paid if they win your case or secure a settlement. They'll take a percentage of the amount recovered. While contingency fees can be enticing, be sure to understand the specific terms and the percentage the lawyer will claim if successful.

The devil is in the details!

Finally, we have the retainer fee. You pay your lawyer a fixed amount of money each month for their services. This is useful as you'll know what you're getting from them each month and you'll always be a priority in their caseload.

Tune into this episode to arm yourself with this knowledge about lawyer fees. Whether it's hourly rates, flat fees, contingency arrangements, or retainers, understanding how lawyers charge and what to be cautious of will help you navigate the legal landscape more confidently.

Stay informed, ask questions, and build a strong partnership with your lawyer. With the right legal guidance, you can protect your business and keep those legal headaches at bay!

LINKS:

Connect with Tracey:

Get your copy of my Annual Legal Checklist here

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

Book a Strategy Session with me here

As business owners, we can’t be all things to all people and nor should we put that amount of pressure on ourselves. Despite beautifully tailored onboarding processes, discovery calls and efforts to serve our clients in the best way possible, we won’t always be aligned with everyone. And that’s okay. 

Clients sometimes reach out to me for support when they’ve come to realise that they need to cut a client loose. This is a reality for every small business owner and, although it might feel awkward and stressful, there is a way to let go of clients in a clear, professional way which doesn’t leave your business exposed and which won’t leave a client unduly impacted or at a disadvantage. 

In this episode, I’m sharing my recommendations for how to approach this situation and some clear and concise steps you can take if you need to let a client go. It’s really important to be crystal clear on what you want to achieve and have absolute clarity around how you're going to do it. Then, just rip the bandaid off!

I talk about the importance of developing a clear exit strategy so that the transition is as smooth as possible. Your service agreement will include a termination clause that you can refer back to, which is one of the reasons why tailored legal documents are so important. Make sure you look at your service agreement and understand the conditions that you’ve entered into with your client. 

The next important thing to do is look at key dates, depending on what your business is and how you are serving your clients. Once you've got clarity around those dates and you can make sure that you are not leaving your client exposed, you then need to think about how you're going to execute the termination and if a handover is necessary. 

I talk about how to plan for the notice that you’re going to give to your client; thinking about the reason you’re going to state, how to frame it and being crystal clear on your end date. Once you’re clear on all these things, both parties can move forward with confidence knowing that you won't be working together anymore and knowing what needs to happen up until the date of termination. 

Remember, we won’t always be aligned with everyone and that’s okay. Cutting a client loose in this way will be a win-win. It allows space in your business for more aligned clients and will enable the unaligned client to find a service provider who is able to serve them in the way they need. 

LINKS:

Connect with Tracey: 

Get your copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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

Book a Strategy Session with me here

It’s sometimes the simple things that get overlooked in our businesses that end up causing us a lot of grief. However, unnecessary angst can be avoided when you set yourself up in the right way. Today I run you through the 3 Cs in business, which I believe are non-negotiable in both the context of your client relationships and running your business successfully. 

I see a lot of businesses letting themselves down when there’s a gap in managing client expectations. This can cause ups and downs in client satisfaction, and may even cause a loss of clients altogether. 

In this episode, I emphasise the importance of having crystal clear communication across all of your touchpoints consistently. Ensuring that clients are clear on what you stand for and how you can help them from the get go is crucial in ensuring a positive experience for everyone involved. 

I talk about the different ways to implement clear communication, including the onboarding process, ongoing conversations and throughout all of your documentation. For instance, does the client know they’re paying for that phone call? Did you provide them with your terms of service or payment? You may be creating misaligned expectations if you fail to provide the necessary information, and this can cause issues that take your time and energy away from what you do best. 

When it comes to running your business generally, it’s not just with clients that crystal clear communication should be prioritised. This should carry over into all of your relationships to ensure your business stays grounded in what you value and how you want things to run. Being clear with your team, including your employees, accountant, strategist or social media manager, will create a flow in your business and set you up to be able to focus on what really matters.

I encourage you to be intentional with how you communicate with those around you, rather than operating on the fly or in reactive mode. It really could be the difference between growing sustainably and feeling like you’re continually up against a brick wall.  

Crystal clear communication really is a game changer, and I hope today’s episode has inspired you to think about the ways in which you could create more clarity in all areas of your business.

LINKS:

Connect with Tracey: 

Get your copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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

Book a Strategy Session with me here

There are currently 2.4 million. small businesses in Australia, not to mention the number of businesses we interact with online. That’s a very large pool that we’re all swimming around in. In that vast number of small businesses, how do you stand out?

Standing out is often heard in the context of business coaches, niching, and strategy. However, there's a really valuable way that you can use your legal documents, combined with solid processes and systems, to stand out. I explain how your legal documents provide a great deal of power when it comes to standing out from the crowd and can act as an important point of difference between you and your competitors.

There is also power in having solid, sustainable processes and systems in place. I explain how, when a potential client receives your proposal or quote with your terms and conditions that are branded with consistent language, their expectations are managed. Your offer and the next steps for the client to take are crystal clear. When you deliver in accordance with what you've outlined in your documents and offboard them effectively, the client has been through an amazing experience with your business. You have up-leveled the experience that a client would otherwise have in your business. That's how we build and grow sustainable, authentic businesses.

When we don’t have these set up, things fall through the cracks. When we don't follow through, or when we don't follow up, we can lose a potential client and we lose a sale. But having proper processes and systems set up in your business, especially when they are set-and-forget, will set you apart.

If you haven’t yet got your legal documents and systems and processes set up, I encourage you to look at these. You can use these to up-level your presence in the business space and deliver a stellar client experience.

LINKS:

Previous episodes mentioned:

Ep 71 - What legal documents does my business need?

Ep 20 - How Ts & Cs work with your business processes & systems

Ep 6 - Website documents

Connect with Tracey: 

Get your copy of my Annual Legal Checklist here

Website:tmsolicitor.com.au

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

Book a Strategy Session with me here