Join me and seasoned entrepreneur Sara Urquhart as we share stories (good and bad) about business partnerships and give you the tips you need to make smart business partnership decisions. Sarah spells out the critical questions that you should ask yourself when you are deciding whether to go solo, bring on a partner, and how to navigate changing roles, expectations, and life events that can threaten successful business partnerships. If you are in a business partnership (or planning on being in one!) ESPECIALLY if you are going into business with friends, or family, don't miss this deep dive episode!
In this episode:
Why a lot of female founders think they "need" a business partner and how to overcome it
What you should look for in a good business partner
How to evaluate business partnership compatibility
How to use dynamic equity to make business partnerships more fair
How to structure more peaceful partnership check-ins
What intellectual property issues need to be addressed between business partners early in the "business marriage"
What's a "business prenup" and why do you need one
+++ more!
Links:
HELPFUL RESOURCES
Creative Counsel Episode 45 - Business Partnerships 101
Operating Agreement Template - the business "prenup"
Make sure you're legally legit with my free legal workbook!
Do you have the contracts you need in place? Take a free quiz and find out exactly what you need for your business at creativecontracts.co.
Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify, and iHeartRadio.
Or browse through my quick tips and tricks by connecting on Instagram.
LET'S CONNECTInterested in working together for one-on-one legal services? Book some time on my calendar!
*Not legal advice. No attorney-client relationship. For informational purposes only.*
Courtney Brown is the CEO and founder of Cents of Style and Be Fulfilled, two multimillion-dollar Utah-based eCommerce companies. Cents of Style aims to bring the latest in clothing and accessories in an accessible and affordable way while Be Fulfilled aims to help influencers develop, source, ship, and service their own product lines.
In this episode of Creative Counsel, Courtney shares her 15-year journey in building her companies from the ground up, including some giant pivots and bringing her husband into the businesses full-time. She also geeks out with me about how we've had a front-row seat to the changing shape of eCommerce, especially with brands grown through influencer and affiliate marketing. Courtney also shares how to create business boundaries, especially when working with friends, how to handle the inevitable curveballs that come with physical product, her best tips on hiring and managing team members, and how to approach the constant problem-solving that is part of the entrepreneurial journey.
In this episode:
Courtney Brown's Quotes:
"If you're passionate about something, don't let that deter you.There will always be something standing in the way. There will always be a challenge. That's where the opportunity lies. If you can figure out how to solve the problem that others say is impossible. That's the largest opportunity if you can figure it out."
"If it were easy, everyone would do it. But your willingness to find solutions to the problems and move beyond them to shift, to change. And to keep going -- that is the number one predictor of success."
"Let's not forget the market is enormous. You don't need the whole pie. I don't want the whole pie. I just want a little piece of it. I want to create enough value that people see the value and want to participate in it. You can take up a little bit of the pie and live a very beautiful life and help and bless a lot of people."
Links:
The Four Agreements by Don Miguel Ruiz
Other podcast interviews with Courtney:
Fight Like a Mother: Raising Kids with Mental Illness
Dr. Julie Hanks: Healing Aspirational Shame
Nitty Gritty: Courtney and John Brown
Connect with Courtney
Contract Templates for eCommerce Companies: 2. Client Service AgreementBrand Protection:
Interested in securing and protecting your own brand name? Chat with Brittany about whether you are ready for a federal trademark registration to protect your brand assets.
Ready to get your business legally legit?
Download my free legally legit workbook HERE and get access to my newsletter with tips and tricks for YOUR growing creative business.
Like to listen and learn?Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify & iHeartRadio
Let's Connect
Interested in working with Brittany for one-on-one legal services? Sign up for a 15-min phone consult at brittanyratelle.com/services.
Want an attorney-drafted, industry-tested legal template for your business? Take a free quiz and find out exactly what you need for your creative business at creativecontracts.co.
Or, browse through my quick tips and tricks by connecting on Instagram.
Worried about recession rumors? Want to get your online or creative business as resilient as it can be? Business attorney Brittany Ratelle guides you through the most important things you can change in your business to help set up business boundaries and protect your profits and peace.
In this episode:
what do you actually need in your website footer
what are the new privacy laws in 2023 and do they matter if you're a smaller website
what is negative option marketing and how can you avoid it
why did Vonage and ABC Mouse get into trouble with the FTC
what is the best practice for cancellation for a subscription business
what are the most important contracts for a service business
what should be in a good client service agreement
how old blog post photos could cost you money and how to fix them
are those copyright infringement scary letters real for real
what's a business prenup and do you need one
how you can create a real business boundary
Quotes:
"I don't believe in fearmongering. I do believe in preparation and I also believe in opportunity."
"The ability to self-confront and to be able to challenge yourself and to be able to work through these issues is a really important critical skill for a business partner."
Other Episodes
Episode 45: BUSINESS PARTNERSHIPS: 5 TIPS FOR A GOOD FOUNDER'S AGREEMENT
Contract Templates mentioned in this episode:
Client Service Agreement
Independent Contractor Agreement
Brand Protection:
Interested in securing and protecting your own brand name? Chat with Brittany about whether you are ready for a federal trademark registration to protect your brand assets.
Ready to get your business legally legit?
Download my free legally legit workbook HERE and get access to my newsletter with tips and tricks for YOUR growing creative business.
Like to listen and learn?Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify & iHeartRadio
Let's Connect
Interested in working with Brittany for one-on-one legal services? Sign up for a 15-min phone consult at brittanyratelle.com/services.
Want an attorney-drafted, industry-tested legal template for your business? Take a free quiz and find out exactly what you need for your creative business at creativecontracts.co.
Or, browse through my quick tips and tricks by connecting on Instagram.
Hala Taha joins attorney Brittany Ratelle on the Creative Counsel podcast to share macro podcasting trends and reveal how Hala used battle-tested skills (and perseverance) to grow a 7-figure business podcast and podcasting agency from the ground up.
Hala Taha, dubbed the "The Podcast Princess," is the host of Young and Profiting (YAP) Podcast, frequently ranked as a #1 Education podcast across all apps. Hala is also the founder and CEO of YAP Media, a social media and podcast marketing agency for top podcasters, celebrities and CEOs. She is well-known for her engaged following and influence on Linkedin, and she landed the January 2021 cover of Podcast Magazine. Hala has interviewed star-studded guests from Matthew McConaughey to Seth Godin and her show was recently awarded as a 2022 Webby Honoree and is currently on track to bring in over $1M in revenue in advertising sponsorship deals in 2022.
In this episode, you'll hear:
What to do when your friends and family don't "get" what you're trying to do
Hala's exact LinkedIn re-targeting recipe
What is happening with podcasting, YouTube and long-form video
What a personal brand should be doing to elevate their offerings
How to overcome a scarcity mindset, especially in crowded fields
What you should (and shouldn't) be doing in your podcast journey
How to monetize your podcast (with ads and beyond!)
++++ MORE!
Connect with Hala:
Hala's Linkedin: https://www.linkedin.com/in/htaha/
Hala's Instagram: https://www.instagram.com/yapwithhala
Clubhouse: @halataha
Ready to get your business legally legit?Download my free legally legit workbook HERE that will guide you step-by-step on how to legalize your modern small business and get access to my newsletter with tips and tricks for growing your creative business.
Are you a podcaster?
If you interview guests, make sure you are using a GUEST RELEASE so you can repurpose all that awesome content (including on short-form video)
If you are ready to get monetized through sponsorships, make sure you have a legit agreement when the brand says "Yes!" to your pitch with a PODCAST SPONSORSHIP AGREEMENT, especially for 360-deals where you are leveraging other channels.
Brand ProtectionInterested in securing and protecting your own brand name? Chat with me, Attorney Brittany Ratelle about whether you are ready for a federal trademark registration to protect your brand assets.
Let's ConnectBrowse through my quick tips and tricks by connecting with me on Instagram @brittanyratelle!
Kristen Ley, founder of Thimblepress® shares her wholesale secrets from being in the stationery businesses for more than a decade. Thimblepress is an international lifestyle company that encourages kindness and inspires fun, through her artisan cards, Push-Pop Confetti, and viral hits like the "Your butt looks great in those jeans!" card. In their interview with attorney for creators Brittany Ratelle, Kristen dives into her creative process, how she launched Thimblepress and grew it to an internationally successful company as a passionate creative, businesswoman, coach, and woman of faith. Kristen has grown Thimblepress as a reflection of her life, love of her family, and reflecting back on one of her favorite places in the world; one of them being her home in Jackson, Mississippi.
In this episode:
Online wholesale outlets Kristen mentions (where you can find Thimblepress):
Kristen's questions for creatives who want to expand:
Quotes:
"I have been running this business since 2012 and it looks very different than it did, but the integrity and the core values of our brand have always remained the same."
"When you hire, if people don't align with your core values, it's going to make communicating with them and them going out and communicating for your brand super difficult."
"You need saved three months of being able to pay your employees in a savings account because those times will get hard – things can happen out of your control."
"One of the worst things I've done in my business is having to let people go – and that usually comes from hiring too fast."
"I feel like I'm making a difference in people's day-to-day – even if they're little small differences. I visualize all those little small products, like every greeting card that goes out, those hundreds of thousands of push-pops of confetti, out into the world. And I think of every time we send something out, it's like a little red heart. So I picture all these little red hearts everywhere."
"A legal lesson I learned the hard way - if you file for a provisional patent application, make sure you follow up within a year later and file the actual patent, or you lose that right forever."
"Don't look around at what everyone else is doing and make the right decisions for you, your family, your company, your faith, all those things like are so important."
"Don't make work your idol – make it part of your life, but not the hero. Because you're the hero - not what you do."
"I always say people don't ask for what they want enough. Pitch yourself as much as you can. The more you ask - just mathematically - the more yes's you're going to get."
"You have to big be your biggest cheerleader. If you're not going to be excited about the things that you're doing, how do you expect anyone else to be excited for you?
"For promoting yourself, sometimes you have to yell when even when you think it's a whisper, especially on social media. Sometimes, I feel like I'm saying things over and over again, and that I feel like I'm yelling at them but truthfully, it's not that because we're all inundated with noise."
"I always say it boils down to three things. People just want to feel seen, loved, and heard. If you can make your customers feel seen and loved and heard, I would say job well done."
Resources:
Wholesale Agreement Template
Pop-up shop Agreement Template
Kristen:
Business Coaching by Kristen Ley (1:1 creative call, monthly mentoring and weekend workshops)
Kristen's Stronger Together Facebook Group
Her Vision Board and Dream Workshop download
OTHER EPISODES
Episode 74: 7 Biggest Legal Mistakes Physical Product Companies Make
Contract Templates mentioned in this episode:
Brand Protection:
Interested in securing and protecting your own brand name? Chat with Brittany about whether you are ready for a federal trademark registration to protect your brand assets.
Ready to get your business legally legit?
Download my free legally legit workbook HERE and get access to my newsletter with tips and tricks for YOUR growing creative business.
Like to listen and learn?
Listen and subscribe to Creative Counsel on iTunes, Overcast, Stitcher, Spotify & iHeartRadio
Let's Connect
Interested in working with Brittany for one-on-one legal services? Sign up for a 15-min phone consult at brittanyratelle.com/services.
Want an attorney-drafted, industry-tested legal template for your business? Take a free quiz and find out exactly what you need for your creative business at creativecontracts.co.
Or, browse through my quick tips and tricks by connecting on Instagram.