I’m wringing the maple syrup outta my ears over here after an incredible long weekend in my favorite place — Vermont.
I went up there to slow down, hike, eat delicious local food, and spend time along the river to wade through my first anniversary of my Dad, Norm’s passing.
I so appreciate your kind words about Norm. ❤️
Normally, I’m the queen of transitions. But this is a week of stillness and calm – not the week of being quippy.
Let’s jump into our legal Q&A sesh! 👇
The Question // Candice asks
How are legal contracts and general biz stuff different for small shops vs larger ones?
The Answer //
Oooh such an interesting question, Candice! First we have to clear one thing up:
All businesses need legal protection — regardless of their bank account, number of clients, or followers on Instagram/TikTok.
You don’t get any sort of pass or protection for not being profitable or far along. The law expects you to take the necessary steps to protect yourself from the start.
Do I have the same amount of legal protection that Nordstrom has? Of course not.
Do I even have the same legal protection I did 1 or 2 years ago? Nope! It’s grown with me.
You need basic legal protection when you start your online business. To start, you typically need to:
- Register your business
- Get a contract/policy in place for your offer
- Explore + sign up for business insurance
Once you start hiring employees/contractors, or making a lot of profit in your business, there are certain layers you’ll add on.
As your business grows, you might need more coverage on your business insurance policy.
But that’s actually a really ‘cool’ (humor me…) part of legally protecting your business.
It’s sort of a one and done process.
You get the basics in place and then you update your contracts, upgrade your policies as needed (which means something good is happening!) and evolve.
If you’re looking for a place to start with legally protecting your business –
Watch my free legal training “5 Steps to Legally Protect & Grow Your Online Business.“
In it, I’ll give you my 5-step strategy to legally cover your personal assets, business money, client relationships and more.
Hope this was helpful! Hit comment and say “yes” if it was 🙂
I love hearing from you!