EP 236 | Protect your Business with Braden Drake
August 24, 2021
As design professionals, we have a high earning potential, but it’s impossible to realize that level of profitability without taking some risks. To protect your business and your mental health, a layered approach to legal protection keeps you safe and able to do your best work. Braden talks attorney with us in a non-attorney way.
In this episode we learn:
- for maximum legal protection, it’s best to seek a layered solution
- initial layers of protection include insurance and contracts
- after the initial layers of protection are in place, assess your personal risk aversion to decide if you need further protection
- to indemnify another party is to compensate that party for losses that that party has incurred or will incur as related to a specified incident
- alternative dispute resolution is a means to solving a dispute outside of court
That was a big one. I way undercharged for my first two years. I doubled pretty much all my prices one week. My client load, and workload, decreased by about 25%, but my revenue increased by about 50%. This gave me more money to hire some help and more time to market my business.
Legal Disclosure | This podcast is for educational purposes only and should not be used for any legal decisions. Kimberley Seldon Design Group, Kimberley Seldon Productions Inc., Kimberley Seldon Design and Media, Inc., Business of Design™, or any of its affiliated companies or staff is not responsible for any errors or omissions effecting accuracy in any content, and they will not be held liable for the use or misuse of information, facts, details or any other aspects should there arise any defects, errors, omissions or perhaps inaccuracies. Extensive research has been conducted to put this podcast together for the purpose of educating our industry in order to better serve the public. Care has been taken to acknowledge ownership of copyrighted material. The advice and strategies contained herein may not be suitable for every situation. This work is offered with the understanding that we do not render any legal, accounting or other professional advice. Seek the advice of a lawyer and/or other competent professional person in all matters of law. Further, listeners should be aware that internet websites mentioned may change or disappear between when this was recorded and when it was listened to.