Competition in business isn't necessarily a negative thing. In fact, it's a crucial aspect of the marketplace. Clients and consumers deserve choices, and honest and good faith competition is something I genuinely believe in.

Knowing who your competitors are and staying informed about industry trends is wise. It’s just good business - and being aware of what others are doing can even open the door for potential collaboration. However, there’s a big difference between taking inspiration from other businesses and flat out copying. That is certainly not okay.

Dealing with Dishonest Competition

Unfortunately, not all competition is fair. There are instances when competitors might copy your work, mimicking your efforts to advance their own business. While imitation is often said to be a form of flattery, I completely disagree. Copying someone's hard work and presenting it as your own is just wrong, and today's digital age makes it easier for such unethical behaviour to occur.

If a competitor is copying you, it's crucial to stay focused on your own business. Don’t allow this to consume you or derail you from your own business goals because getting distracted will incur a bigger cost on the business than the copying itself.

Be Confident and Anchored to Your Why

Always remember your business's mission, vision, and unique selling points. Stay focused on your values and continue serving your clients to the best of your ability. The truth of the matter is that anyone who copies your work is only demonstrating that they have no originality and they will not stand the test of time. Stay in your lane and keep focussed on your why.

Stay Informed

Keeping your finger on the pulse with industry trends and knowing what your competitors are up to is good business practice. This way, you can discern whether a situation is genuinely harmful to your business or whether it’s something that you can shake off.

Stay Focused

Don’t be consumed by what your competitors are doing. By keeping your focus on your business, you’ll ensure that you're not distracted from the important activities that generate revenue and really push the needle forward.

Understand and Protect Your Intellectual Property

Make sure you understand your intellectual property including trademarks and copyrights. Protecting your unique ideas and original work can deter competitors from copying you outright and resolve issues swiftly if or when your copyrights are infringed.

Don't Go It Alone

Having a reliable support system is invaluable in business. This could include your business lawyer or a team of advisors who understand your business's intricacies. When issues arise, discussing them with trusted individuals can help you develop a strategic response and give you peace of mind for how to move forward.

Competition is inevitable in business, and it should be embraced when it’s fair and ethical. However, understanding how to deal with less honourable competitors is equally essential. By staying confident, informed, focused, and legally protected, you can navigate the challenges that arise without letting them derail your business success.

LINKS:

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Coaching can be an immensely valuable service for a business owner. Over the years, I've had some fantastic experiences with coaches who made a significant impact on my business journey. However, as the coach, it's crucial to make sure that you are running your business with an unwavering commitment to risk mitigation.

If you’re a long-time listener, you would have heard me talk about why a risk mitigation strategy is critical for small businesses. In today’s episode, I’m focussing specifically on how to protect your coaching business, focusing specifically on your legal documents, often referred to as your coaching agreement.

The Importance of Tailored Agreements

A coaching agreement is a vital document that outlines the terms of your service engagement with clients. It should be specific to you and drafted with your unique business in mind. This contract should include:

Your services: What you do and how you do it.

Exclusions: What you don't do.

Payment terms: How you get paid.

Termination clauses: Your policies on ending the contract.

Disclaimers and Liability Clauses

The most critical parts of a coaching agreement are the disclaimer and liability clauses. These are the sections that will truly protect your business.

Disclaimer Clauses: These clarify explicitly what you are not promising to do, which guarantees you are not making, and what you are not responsible for. This clear communication gives your client absolute clarity about what you are not offering, which helps to prevent misunderstandings and misaligned expectations.

Liability Clauses: These outline what you, as the coach, will not be responsible for. They limit your liability and define very clearly what you undertake to do. Knowing where you're liable and how to limit that liability is crucial.

Why Templates Won’t Suffice

If you’re tempted to use a template or copy someone else’s agreement, think again. Templates do not take into consideration the nuances of your specific business and, in most cases, won’t cover you against risk. You won’t know whether these documents work as intended until you need to rely on them, and by then, it might be too late.

Ask yourself these questions:

Do you have a tailored coaching agreement aligned with your business operations?

Are your disclaimer clauses and liability provisions adequate and correctly worded?

If the answer is no to any of these questions, it's time to consult with a business lawyer or reach out to me for a discussion. Ensuring you have the proper documentation in place will provide the confidence and peace of mind you need to serve your clients effectively.

LINKS:

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Since launching my business I’ve seen business growth play out in many different ways. Sometimes it’s fantastic, with businesses taking off and flourishing. However, sometimes it doesn’t end so well. Some businesses have folded, others have suffered considerable losses—both financially and in terms of infrastructure.

So, why does this happen? When growth occurs too quickly it becomes unsustainable and overwhelms the business. Today I want to share my five tips for navigating fast business growth and overcoming the common hurdles.

1. Ensure You Have the Right Business Infrastructure
Rapid growth can strain a business's infrastructure if it's not set up properly. Take the time to think about all the components of your business that keep things running smoothly - your people, skills, services, digital marketing, bookkeeping, financial management, and advisory team. There's no shortcut here! You need to take the time to think about all the cogs in your business machine. It can be the difference between sustainable growth and disaster.

2. Master Your Financial Management
With growth comes increased revenue, but with increased revenue comes increased expenses, pressures, and liabilities. The best way to guard yourself is to connect with a bookkeeper and/or accountant who can help manage your finances. Even if you can manage your finances yourself, that doesn’t mean you should. Delegating these tasks lets you focus on your zone of genius.

3. Solidify Your Processes and Systems
Growth will test your business operations and without strong systems in place, cracks will start to show. Think about your client engagement, onboarding, service delivery, invoicing, revenue tracking, and expense management. These areas can make or break a business in times of rapid growth.

If you’re not sure whether your systems and processes can handle increased volume, now is the time to reassess and strengthen them. Consult your accountant and business lawyer to help you identify weaknesses and make the necessary adjustments.

4. Focus on Team Acquisition and Retention
Rapid growth brings pressure and challenges that can overwhelm a business. For long-term sustainability you need a team you can rely on. Evaluate your current team, both employees and contractors, to ensure you have the necessary skills covered. Do you have the right people in the right places? Are you leveraging their strengths effectively? By addressing these questions now, you can avoid issues down the line.

5. Keep Up with Contracts and Agreements
During periods of rapid growth, it's easy to let contracts and agreements slide as you focus on immediate demands. It might seem like a necessary risk at the time, but it can cause major complications for your business. Take the time to prepare your documents now, so you're guarded against misunderstandings and misaligned expectations later on.

Fast business growth can be exhilarating if you’re prepared but devastating if you're not. By focusing on these five areas, you can set your business up for sustainable growth and long-term success!

LINKS:

Episode Website:

https://tmsolicitor.com.au/rise-up-in-business-podcast/my-top-5-tips-for-navigating-fast-business-growth

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Every now and then on the podcast, we reach out to our community to ask what you would like to hear from us. In today's episode, I address a question from one of our long-time listeners: What are my favourite legal documents to design?

Today I’m diving into one of the aspects of my work that truly sets my soul on fire—drafting client service agreements for small business owners. So join me as I take you through the intricacies of legal agreements and why the client service agreement holds a special place in my heart.

The Joy of Designing Client Service Agreements

You can call it anything you like - a design agreement, styling agreement, client service T's and C's - but client service agreement lays out the terms that a business issues when they're working with their client. Essentially, it's the agreement that a business enters into with its clients, setting the stage for a smooth, professional relationship. I relish the opportunity to dive deeply into a business when crafting these agreements. It's not just about the legal text; it's about creating a document that aligns perfectly with the unique workings of each business. This detailed approach allows us to address pain points and set client expectations - and I just love collaborating with my clients to ensure their business is protected.

The Process and Impact

As I’ve mentioned many times before, my process is very client-centric. I take the time to ask my clients essential questions about their operations—everything from project timelines to payment terms. This helps me ensure that the client service agreement covers all bases and shields the business from potential issues.The real and lasting impact happens when a business owner feels secure, knowing they’re protected legally and they can focus on their core activities.

Implementation and Lasting Success

One of the most important aspects of this process is the implementation of these agreements. It's not enough just to have the document; the business needs to know how to use it effectively. This includes understanding how to incorporate it into their processes and systems. I even go as far as reviewing the communication that will accompany the agreement to clients, ensuring every aspect is finely tuned. The goal is for the client to feel confident and self-sufficient in using these documents, and the privilege of enriching lives through these crafted agreements is central to why I do what I do.

Now that I’ve talked you through what brings me the most joy in my business, I’d love to hear from you about what your favourite part of your business is. And if you’re not quite sure, this might be your little nudge to give it some thought and to lean into doing more of what you love.

LINKS:

Previous episode mentioned: Legals By Design® - I am thrilled to share this with you

Episode Website:

https://tmsolicitor.com.au/these-are-my-favourite-legals-to-design

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

I've noticed that I have the same recurring conversations and answer similar questions from my creative clients. So today I’m revealing the answers in one spot so you too can know the legal secrets that every creative entrepreneur must know.

The Power of Tailored Client Service Agreements

Your client service agreements, when customised for your unique business, can be the most powerful tool in your arsenal. Don’t use templates, copy someone else or cobble something together from Google searches. Instead, invest the time and resources to have these documents tailored specifically for your business. Engage a business lawyer who understands your industry and the unique risks you face. This will ensure that nothing is overlooked and you are properly protected.

Your Processes and Systems are Important

Having tailored legal documents is only part of the equation. Your processes and systems are equally vital to ensure that these documents are implemented and executed correctly. This includes how you issue your client service agreements, proposals, and quotes. It also involves the sequencing of these documents and the proper wording in your correspondence with clients.

By developing robust internal processes and systems, you not only set yourself up for success but also manage client expectations and compliance with consumer law. If you get the process wrong, you might not be able to rely on your agreements at all.

Your Intellectual Property is Your Gold - Protect It

As a creative, your intellectual property (IP) is one of your most valuable assets. This is why it's imperative to protect your IP through your client service agreements. Clearly define who owns the IP in your creations, the scope of any licenses granted, and the terms of those licenses.

Consider the importance of trademarks if exclusivity over certain aspects of your business is crucial. However, understand that trademarks can be complex and not everything is trademarkable.

Build from Solid Foundations

Many business owners overlook the importance of a solid business structure. Although not the most exciting side of business, having the right legal business structure is foundational to your success. This involves understanding your options, from operating as a sole trader to incorporating as a PTY LTD company.

As your business evolves, make sure you reassess and adjust your structure as needed, consulting with your lawyer and accountant to ensure your structure aligns with your current needs and goals. The right structure provides confidence, flexibility, and clarity, allowing you to focus on building your business and sharing your genius with the world.

Know Your Risk Mitigation Strategy

Reducing risk in your business is crucial, and there are three main components to focus on: your business structure, insurance, and legal documents. Of these, insurance is often the most misunderstood. Many creatives ask if they really need insurance, and the answer is a resounding yes.

However, not all insurance policies are created equal. Whatever you do, don’t buy insurance online - you won’t understand what's covered and what's excluded. Instead, work with an insurance broker who can guide you in selecting the right insurance for your unique business needs.

LINKS:

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

In today's episode, we're exploring one of the most complex and controversial issues in employment law: restraint of trade clauses in employment contracts. I'm diving into this because in the small business circles in which I operate, there's a lot of discussion around whether or not restraint clauses are valid and whether we can have them.

It has also become more topical in the broader community due to a recent decision in the United States, where the Federal Trade Commission made a ruling banning the use of restraint of trade clauses in contracts altogether. The question we’re now asking ourselves now is: will Australia follow suit?

Restraint Clauses: What Are They and Are They Enforceable?

Restraint of trade clauses are designed to prevent former employees from competing with their ex-employer in ways that could harm the business. These clauses come in two main types: non-compete and non-solicit. A non-compete clause restricts an employee from working in a similar business, while a non-solicit clause prevents them from contacting the former employer's clients. The million-dollar question here is whether these clauses are enforceable. The simple answer? Only if they are reasonable. I’ll take you through the nuances of what our legal system deems a restraint clause enforceable or not.

Tailoring Clauses to Your Business Needs

One of the most common mistakes I see is the use of broad, generic restraint clauses that cover large geographical areas and long periods. These are often unenforceable from the get-go. Business owners need to draft these clauses to fit their specific needs. We’ll discuss how to make sure your restraint clauses are not so broad that they prevent an employee from earning a living, as the courts heavily scrutinise such clauses.

Practical Steps to Protect Your Business

Rather than relying solely on restraint clauses, I recommend bolstering other areas of your employment contracts to safeguard your business. By being proactive and understanding what is reasonable for your specific business, you can better protect your interests and avoid the high costs and stress associated with any legal battles that may arise.

If you're a small business owner or planning to hire employees, this episode is a must-listen to ensure you're setting yourself up for success while staying on the right side of the law.

LINKS:

Episode Website:

https://tmsolicitor.com.au/rise-up-in-business-podcast/restraint-of-trade-clauses-in-employment-contracts-can-you-have-them

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

This week's podcast episode is one I’ve been planning to record for a while, and it's finally time to share it with you. I've been working for some time on how to articulate in a really succinct and clear way how it is I do what I do when working with my clients, and how it is I create legal documents that work for small business owners.

Now, if you’ve been listening to this podcast for a while, you know I don’t often talk about myself. Today, however, I want to share with you my unique approach to working with my clients, the vision for my business and the ‘why’ behind it all.

Introducing Legals by Design

Legals by Design is my signature approach, developed over my more than 20-year career in the legal field. While it has evolved over the last five years since launching my business, I have spent the past 12 months refining and articulating it for you. This approach is a blend of my extensive knowledge and expertise, combined with the insights and practical implementations I deliver when collaborating with my clients. It's unique to me and captures the essence of what I deliver when developing legal documents that work.

The Four Elements of Legals by Design

In this episode, I’ll take you through the fundamentals of my signature framework so you have a clear understanding of who I am and what I do:

1. Client-Centric Approach: My focus is empathetic and centred around you, the client. Recognising that every business has different needs and challenges, I meet you where you're at with fluidity and flexibility. I offer fixed-fee value-based pricing to ensure you only pay for what your business truly needs.

2. Better Communication: With feedback from clients, I've honed an accessible and down-to-earth communication style. I specialise in making complex legal issues simple and understandable, empowering business owners with clarity and confidence.

3. Richer Outcomes: My tailored legal documents are designed to be relevant, current and compliant with your business's legal obligations. They ensure confidence and pride whenever you issue them, whether to a client, a team member or any business partner.

4. Comprehensive Implementation: Bringing all elements together, I spend time ensuring that the legal documents truly work for your business. From setup to practical application, I guide you through every step, sharing my extensive experience to avoid potential pitfalls.

While these elements may sound simple, they’re not always a reality in traditional legal practice. I believe this framework sets me apart from the rest, and is also what sets my soul on fire.

I hope this episode helps to explain the nuances to my approach and what underlies my thinking behind developing legal documents that truly work for business owners.

Happy listening!

LINKS:

Episode Website:

https://tmsolicitor.com.au/rise-up-in-business-podcast/legals-by-design-i-am-thrilled-to-share-this-with-you

Discover the Masterclass Series here

Check Your Legals with the Essential Legal Checklist here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here

Intellectual property (IP) is a term you often hear in the world of creative businesses. I've observed that many business owners have a general understanding of IP but they don’t necessarily comprehend how to protect it effectively. That’s what I’m going to shed light on today so that you can understand what intellectual property means for your creative business and what you need to do to protect it.

What is Intellectual Property?

Simply put, intellectual property refers to your original creations—whether it’s drawings, photographs, your name, or your tagline. For these to be considered your intellectual property, they need to be both original and created by you. Intellectual property fits into four primary categories: Trademarks, Copyright, Patents and Designs.

Trademarks

The term "trademarks" is often misunderstood. Trademarking involves registering a trademark with IP Australia for exclusive use over a name or phrase crucial to your business but it can't be something you just fancy. It has to be capable of being trademarked. For example, if your business name, logo, or tagline is unique and vital to your branding, it might be worth considering trademarking it.

Beyond trademark registration, there are other steps you can take to protect your IP:

• Register a Business Name: If a name or phrase is essential to your brand, register it as a business name to prevent others from legally using it.
• Register the URL: Secure the relevant domain names associated with your business to ensure no one else can use it.
• Document Usage Rights: If you allow third parties to use your intellectual property, make sure the terms in which they are entitled to use it are outlined in your service agreement. Crystal clear clarity is vital here so you can protect what’s rightfully yours.

Copyright

Copyright differs from trademarks because you don’t need to apply to register it in Australia. The Copyright Act automatically protects your original works. Whether you create drawings, photos, logos, or designs, the copyright belongs to you as long as it's your original work.

However, if you want to safeguard your creative work, you need to assert your ownership of your copyright.

• Client Agreements: Clearly state in your agreements that you retain copyright over your work and specify the usage rights granted to clients.
• Copyright Notices: Place copyright notices on your original works and client deliverables to indicate ownership.
• Cease and Desist: If someone infringes on your copyright, a cease and desist letter can be a powerful tool in protecting your rights.

The Rise of AI and IP Protection

Many creatives are curious about using AI in their work. While AI can streamline processes, using it to create work raises questions about originality. Remember, your copyright protects original work. If AI generates part of your creation, it may not be considered entirely original. Always consider this when integrating AI into your creative process as it could impact your legal standing.

Protecting your intellectual property is vital for the growth and sustainability of your business. I hope this episode is helpful to you and that you feel better equipped to protect your original creative work and avoid unnecessary disputes down the track.

LINKS:

Chat GPT and Copyright

Discover the Masterclass Series here

Book a Free 20-minute Initial Consult with me here

Join me on Instagram here