Blow up the Box Chronicles - July 2023 Edition

This month I have worked with some high-performing clients who are crushing their goals every single day. They do so by coupling their passion and their work. They wake up every day with the focus on their work because they do what they love.

We are more willing to take risks when we do what we love.

But when we take risks, we have to remember that we are putting EVERYTHING on the line.

Working with these clients, we have ensured they have a solid legal plan to protect their assets and their family if the risk doesn’t pan out.

The plan includes:

1. A solid legal structure. You have to protect your personal assets from your business liabilities. Two popular ways to do so are through an LLC or corporation.

2. An Employee Handbook. Even in a right-to-work state, you need a handbook and your employees need to agree to it before they start working. The handbook is more to protect you than the employees. If you are solo - get one now so you can have it ready when you hire.

3. Standard forms. If you sell a product or service, you need forms. Contracts with actual remedies, employment contracts, standard operating procedures, recipes, everything! Standardize as much as possible.

4. A Crisis Communications Plan. You should let your employees run free on social media. They can be your best ambassadors. Just make sure they have guardrails. Also, make sure you have a plan in action when SOMETHING goes wrong, and something will go wrong.

5. A Disaster Recovery Plan. Don’t think a storm can kill your business? Ask those small businesses whose brick-and-mortar was destroyed in Hurricane Ivan. Ask that remote team whose Asian workers couldn’t get online because of the latest Typhoon.

6. A succession Plan. You need a plan unless you are the one human created to live forever. Eventually, you will either not want to or not be able to work. Plan for it (including having an updated will and estate plan.)

It doesn’t matter how big or small you are, you need these six things finished BEFORE you take those big, growth-fueled risks.

Check out my talk “Know Your Worth” below.

The Speakers Collaborative is now forming its next cohort. We take aspiring speakers/politicians/C-Suite executives from amateur to professional in six weeks.

Books I am into:

• “The Miracle Morning” by Hal Elrod

• “10x is EasierThan 2x” by Dan Sullivan with Dr. Benjamin Hardy

• “Time’s Up! The Subscription Business Model For Professional Firms” by Paul Dunn and Ronald J. baker

• “The Bible” by God

Side Hustles I am working on:

• Networking @ First: A small group of professionals at First United Methodist Church of Cary, MC

• Dads Who Disney: a full service travel agency serving families of all budgets (and giving my daughter some small business training.)