There are so many legal requirements for starting an online business–is it even worth the effort? That’s what one of my students asked me last week. So I decided to get an attorney to answer. But not just any attorney–you’re gonna love this guy!

To help you turn these ideas into action, click here to download this week’s free “key ideas” Worksheet.

Today you’re going to learn…

• Why businesses need to get their agreements in writing.
• Why businesses need to have a strategy for their “legal stuff.”
• The mistakes businesses make that can sink their brands.
• The legal mistakes business make with social media.

Show Sponsor:

Are you curious to know how I created a million-dollar writing business without being famous or having a New York Times bestseller? Would you be interested in knowing how YOU can duplicate what I did–only faster and while avoiding all the mistakes I made?

I’ve learned a few things about running a profitable writing business and I want to share them with you. That’s why I’m hosting a FREE masterclass: “The 3 Simple Secrets Of Building A Profitable Copywriting Business.”

Register for free at RayEdwards.com/3secrets

Ray’s Tip of the Week:

(2:25) This week I want to tell you about a new tool I’ve been using to create my own sparkling water instead of buying TONS of sparkling bottled water.

Tune in to find out my favorite new “drink maker” tool.

Spiritual Foundations:

(3:55) Do you pray for your business? Is that a selfish practice? I can’t find any evidence of this in the Bible. But God does talk about worry. 

Tune in to discover…

• What the Apostle Peter had to say about worry. He made it clear what God will do with all our worries–if we let Him.
• The magic that often happens when we choose to pray despite our worries. Even though God already knows how we feel, He doesn’t want us to be shy and He often rewards us with this blessing while we’re in the act of praying.
• How to build your faith and in God and how to apply His power in your business. You can get started with a simple daily task that works well in tandem with your daily prayers.

Feature Presentation:

Bobby Klinck is not your typical lawyer. Sure, he went to Harvard Law School. But he’s not a stuffy curmudgeon. He’s a fully-fledged online entrepreneur who understands our kinds of businesses. Better still, he tells funny stories, makes fun of lawyers, tells “dad jokes,” uses pop-culture references, and even sneaks in the occasional poop emoji.

It’s not that he doesn’t think the “legal stuff” if serious. He just figures that having fun with it all makes it less daunting for entrepreneurs. And he’s right!

Tune in to discover…

• (8:35) Why Bobby is “trying to give up” his regular law practice like a bad habit. How he got his law practice started almost by mistake and why he’s now moving 100% into the online space.
• (10:40) How Bobby learned to network without networking. The surprising answer he gave to his life-coach that really pushed him to become a full online entrepreneur.
• (13:25) How failing in his first online course launch got him hooked on online marketing. Now he’s an addict, even though he lost thousands in wasted Facebook ads on that launch and the only customer who bought refunded on day 29 of the 30-day refund period.
• (18:30) Why taking a little time at the start of your business to get the “legal stuff” set up correctly can save you massive headaches down the road. Even though lawyers are often a pain to work with, they do play an important role in helping you stay out of trouble.
• (19:35) Why relying on a faceless attorney service like Legal Zoom is a big mistake. But only relying on your friendly neighborhood attorney isn’t enough either. You’ve gotta find a specialist who knows how your style of business really works.
• (22:40) Should you be a sole proprietorship, an LLC, an S-corp, a C-corp? Why getting this right from the start saves you all kinds of time and money.
• (24:30) Which type of business you should have if you have hired help, like a virtual assistant or a social media manager. If you don’t have this type of business set up, you’re not fully protected.
• (29:40) Why so many people think getting into online business is as simple as turning your computer into an ATM. There’s a whole lot more to it, and getting your business entity set up correctly is a better investment than buying all those online courses.
• (31:05) How many rookie entrepreneurs put the cart before the horse. Why trying to harvest the grain before planting the seeds doesn’t work.
• (33:15) The 3 policies every online entrepreneur should have on their website to protect themselves. It’s the boring lawyer stuff, but without it, you’re putting yourself at risk. (See this week’s worksheet).
• (39:50) The 3 practices every online entrepreneur should get in the habit of doing, no matter what. Lawyers thrive on uncertainty and these practices keep you covered.
• (48:00) How Bobby has moved from “no-name” lawyer to super-successful online entrepreneur. In just the past year his income has more than doubled and there’s no end in sight to his growth.

Resources:

Links mentioned on today’s show:

• Check out Bobby’s free training at YourOnlineGenius.com/academy.
• Check out Bobby’s GDPR Kit at YourOnlineGenius.com/GDPR.
• Check out Bobby’s fantastic legal templates at YourOnlineGenius.com/forms.

I’d love to hear from you. Tell me your biggest takeaway from today’s show on Twitter @rayedwards, on Instagram @rayedwards, and on Facebook too.

Today’s show was produced by Kris Edwards with show notes and worksheets by Doug Pew and Juan Lopez.

Until we meet again may you prosper in all things: health. wealth, and wisdom. Now go live your most prosperous life.

This week I welcome my friend and former student Mike Kim to the show. He’s an amazing marketing strategist, consultant, and copywriter. His podcast, “Brand You podcast” is the #1 podcast on personal branding according to Apple. 

Mike worked for years as the CMO of a big-time company before building his personal brand. One of his current marketing clients is none other than John Maxwell.

We’ve prepared a FREE worksheet for this week’s show to help you apply Mike’s suggestions and get started with your own personal brand. You can download it at RayEdwards.com/388.

Feature Presentation:

Tune in to our off-the-cuff conversation to discover…

• (1:32) How my well-intentioned yet dismal “flop” of a marketing contest helped get Mike on my radar. If it hadn’t been for that failure, we might never have met.
• (3:32) The secret to avoiding super awkward icebreaker conversations with your favorite guru or expert. It’s the best way to get to know them before you actually meet in real life.
• (4:30) Mike’s “introvert” secret to leveraging and mining relationships. This unique superpower of his is one of the biggest reasons for his remarkable success.
• (6:45) Which artistic career Mike and I both dreamed about when we were kids. Mike even got the attention and some helpful tips from one of the most famous practitioners of this art form.
• (10:02) The “Spider-Man” relationship strategy Mike’s been cultivating since childhood. How it’s helped him turn online business acquaintances into best friends.
• (14:35) How falling asleep during church turned into a full-time songwriting career in his early 20s. The nagging question that took Mike from adolescence to a music ministry, and eventually to a career in marketing.
• (20:06) How being worn out from life on the road led Mike to become one of the top experts in personal branding in 4 short years. It all started with a simple habit which became the hinge to opening doors all over the industry.
• (23:05) The huge difference in how people in their 20s and people and 40s define a “personal brand.” Why Mike started to separate and re-categorize “influencers” vs “thought leaders.”
• (27:10) Who should build a personality brand and who should be an influencer. Mike describes what he calls “the Holy Trinity of content” and how using them as the 3 legs of the platform stool is the best way to give substance to your brand.
• (32:45) Why focusing on looking for and finding common ground with people is one of the best ways to build your personality brand. This works for all types of businesses, even the ones that seem boring or ordinary like the neighborhood furniture store.
• (36:55) The Wikipedia test Mike uses when consulting hyper-polished, veneered, corporate marketing teams to help them realize why personality brands are so powerful. I bet this test works on you too. It worked on me!
• (38:30) How the stocker in all of us contradicts our fear of posting something personal social media because it might be “off brand.” Mike calls us all out and shows the paradoxical principle of branding we need to learn from our actual online behavior.
• (41:34) The easiest way to help people make the decision whether or not to follow you online. It takes courage, but it’s by far the best way to build your personal brand and a loyal tribe of hungry fans and followers.
• (43:40) Mike’s best up-to-date advice about how to get started with your personal brand. There’s one crucial practice you must adopt. It’s the biggest hurdle for most people. But it provides an easy way to overcome the challenge and get started today.
• (48:05) The 11th commandment, coined by Mike, that got him started with the discipline of building his personal brand. But it’s not a “quick” fix. It’s a year-by-year process he’s been using since 2014 to get where he is now.

Resources:

• To learn more about Mike and follow what he’s doing, visit MikeKim.com.
• To download the FREE worksheet for this week's podcast, go to RayEdwards.com/388.