Legal

The Fine Line: The Legal Consequences to Questionable Business Practices with Thomas Croessmann – [PowerTips Unscripted] S5 E7

The remodeling industry is highly competitive and some may be tempted to break the rules. Although some may do it intentionally, others may start with good intentions, but over time the line between right and wrong becomes blurred. Thomas Croessmann will be joining the show to discuss the consequences of breaking the rules, which in some cases can result in jail time.

Thomas Croessmann is the Managing Partner of Croessmann & Westberg, P.C., a construction law firm in the DC area. The firm is a full-service law firm for construction contractors. Thomas has worked with many of the Remodelers in the Metro D.C. area.

Thomas, Victoria, and Mark talk more about:

  • What are the dangers of hiring an undocumented worker?
  • What are the legal concerns with a contractor front-loading the payments of a project?
  • What is a Captive Trade Contractor?

Estate Planning 101 with Thomas Croessman – [Best of PowerTips Unscripted]

Today on PowerTips Unscripted, Thomas Croessman joins the show to discuss the need for small business owners to plan for their company’s transition in their estate plan.  While your business might be humming along now, how will it perform if you’re not around? Unfortunately, most small businesses only survive the first generation because of estate planning and communication failures. Thomas explains Wills, Powers of Attorney, and Trusts, when those documents become effective. He also gives some practical tips to help the transition go smoothly.

Thomas Croessmann is the Managing Partner of Croessmann & Westberg, P.C., a construction law firm in the DC area. The firm is a full-service law firm for construction contractors.

Thomas, Victoria, and Mark talk more about:

  • What is an Estate Plan?
  • What is Power of Attorney, and when is it used?
  • And more…

How Cybercrime WILL Impact Your Remodeling Business with Charles Hammett – [Best of PowerTips Unscripted]

Are you worried about your business being the next victim of a cyberattack? Today on PowerTips Unscripted, Charles Hammett joins the show to give some advice on how to protect your business from cyberattacks. Charles breaks down some of the types of cyberattacks and how remodelers could be affected. He also talks about some of the benefits of having cybersecurity and the protection it brings to your business.

For over 25 years, Charles Hammett has managed IT and cyber security initiatives for several businesses throughout the US. He has worked closely at the federal level, building secure data centers and at the public level protecting businesses of all types.

Victoria, Mark, and Charles talk more about:

  • Are small businesses at risk?  
  • How does this impact the remodeling industry?
  • How can you protect your business from cyberattacks?
  • And more… 

Will Your Personnel Files Survive a Legal Trial with Jody McLeod – [Best of PowerTips Unscripted]

On this episode of PowerTips Unscripted, Jody McLeod joins the show to answer legal questions, including whether companies are set up to withstand a legal challenge. Jody discusses the best way to ensure having a complete personnel file for each employee, including documentation of conversations and key facts,  so that you can support yourself and your company during a legal trial. Jody also advises business owners to help them avoid lawsuits through a complete onboarding process and proper training for all managers.

Jody, an attorney, and former Fortune 500 legal executive is the Founder and Principal of McLeod Legal Solutions (MLS). MLS partners with business owners to protect their business during HR and employee relations disputes with direct access to litigators, employment lawyers, and legal executives from Fortune 500 companies.  Jody specializes in employment law, litigation and litigation management, compliance, investigations, and training.

Jody, Mark, and Victoria talk  more about:

  • Complete personnel files 
  • Best practices to avoid legal trial 
  • Inappropriate or incomplete personnel files 
  • And more… 

Will Your Personnel Files Survive a Legal Trial with Jody McLeod – [PowerTips Unscripted] S4 E5

On this episode of PowerTips Unscripted, Jody McLeod joins the show to answer legal questions, including whether companies are set up to withstand a legal challenge. Jody discusses the best way to ensure having a complete personnel file for each employee, including documentation of conversations and key facts,  so that you can support yourself and your company during a legal trial. Jody also advises business owners to help them avoid lawsuits through a complete onboarding process and proper training for all managers.

Jody, an attorney, and former Fortune 500 legal executive is the Founder and Principal of McLeod Legal Solutions (MLS). MLS partners with business owners to protect their business during HR and employee relations disputes with direct access to litigators, employment lawyers, and legal executives from Fortune 500 companies.  Jody specializes in employment law, litigation and litigation management, compliance, investigations, and training.

Jody, Mark, and Victoria talk  more about:

  • Complete personnel files 
  • Best practices to avoid legal trial 
  • Inappropriate or incomplete personnel files 
  • And more… 

Personal Wealth Building for Business Owners with George Kall-[Best of Powertips Unscripted]

As a remodeling business owner, building wealth and financial security is something you want to achieve.

Unfortunately, it’s something that many put off because the needs of today are more pressing, especially with the current market.

In this episode, Victoria and Mark talk to George Kall about tips and advice on planning for your future financial security today.

George owns Metro Building and Remodeling Group, a Design-Build firm in Ashburn, VA. George started the company seven years ago and now employs a team of 9 and was recently ranked #107 on this year’s Remodeling Magazines list of largest remodelers.

Victoria, Mark, and George talk more about:

  • Establishing a company 401k and how you implement it.
  • Setting aside money for your family.
  • Planning for uncertain times.
  • Obtaining financing for the business.

Best of Powertips: Ep.132: How to Shatterproof Your Business with America’s Legal Coach

There are many legal challenges that can appear suddenly for remodelers, builders and business owners. It is imperative to build your business on a foundation that can weather the storm so that, as our guest today puts it, it doesn’t matter.

In this episode, we talk more about the process of “shatterproofing” your business with America’s Legal Coach, Scott Reib.

Scott is the owner of ReibLaw, a full-service law firm with over 20 years of Business Law and Estate Planning experience. For the last two decades, Scott has been helping business owners, entrepreneurs, coaches, and service providers to “shatterproof” their businesses and succeed in the professional world.

Victoria, Mark and Scott cover:

  • How Scott became known as America’s Legal Coach.
  • The difference between a legal coach and a lawyer.
  • What is meant by a “shatterproof” business.
  • Why a business would need to be shatterproof.
  • The biggest legal mistakes Scott sees businesses making.
  • And more…

Ep.165: The Top 3 Deductions Your CPA Never Told You About with “The Tax Goddess”

Are you looking for innovative tax strategies to reduce you or your clients’ tax burden? 

Or, simply sick of paying more than you need to in taxes? Then tune into this episode to hear vital information that you won’t want to miss! Guest Shauna Wekherlien, CPA provides proven, legal, effective, and easy strategies that any audience member can implement to keep more of their hard earned money.  

Shauna is the founder and business owner of Tax Goddess, a company ranked in the top 1% of all tax strategists in the USA. The team at Tax Goddess is committed to helping clients reduce their tax burden to the bare legal minimum with proven strategies that are guaranteed to save thousands off of tax bills each year.

Victoria, Mark and Shauna talk more about:

  • The difference between a CPA and a Tax Strategist
  • The most commonly missed deductions
  • The types of business owners that can benefit from a Strategic Tax Coaching Program
  • And more…

Ep.136: How to Build, Accelerate and Harvest the Value of a Company with John Warrillow

Small business owners spend a lifetime building a company and have one shot at getting their exit right.

Yet waiting to pounce on this unsuspecting group is a legion of financial mercenaries, private equity predators and corporate giants set up to prey on owner’s lack of experience when it comes to mergers and acquisitions.

These financial engineers use sleazy tactics like “strategic pacing,” “re-trading,” and “proprietary deal flow” to dupe owners into selling their life’s work for pennies on the dollar.

Our guest in this episode, John Warrillow, passionately advocates owners reframe how they approach their company from thinking of it as a job to building a transferable and valuable asset.

John is the founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide. He is a past Keynote Speaker at our Remodelers Summit and has been a guest here on PowerTips Unscripted in milestone episodes 01 and 100.

Victoria, Mark and John talk more about:

  • The selling trends that John foresees with business owners who were hit hard during the pandemic.
  • The biggest mistakes John sees owners make when it’s time to sell.
  • The evil tricks large corporations and private equity groups use to pray on inexperienced owners.
  • How owners let potential buyers know they are interested in selling without looking desperate.
  • When owners should tell their employees they are thinking of selling.
  • And more…

Take the Value Builder PreScoreTM Assessment and Discover How “Sellable” Your Business is

Whether your exit is on the horizon or years away, the PREScore™ assessment will prepare you personally for a successful transition into your next chapter while enabling your business – and your people – to continue to thrive without you. More importantly, the changes you would make to ensure your business is more “sellable” will also make it stronger and more profitable.
[Click Here to Get the Link to the Assessment]

Ep.134: Preparing a Successful Exit Strategy with Dave Leff

Have you given any thought to your exit strategy? How are you going to leave your business when you’re ready to retire and enjoy your remaining years?

It is never too early to start, and you should really be planning for that day, no matter how many years you have left.

There are many options when it comes to planning a successful exit and our guest, Dave Leff, joins us to talk more about his process, one that he is closing on within the next few weeks.

Dave, President/CEO of Leff Construction – Design/Build, explored a number of different options over the past five years and ultimately determined that an Employee Stock Ownership Plan (ESOP) was the direction that provided the best outcome.

Victoria, Mark and Dave talk more about:

  • When Dave first started thinking about exiting his company.
  • The main things Dave did to prepare his exit strategy.
  • The main options Dave considered for your exiting and the pros and cons of each option.
  • The decision to go with the ESOP option.
  • How an ESOP works and the benefits and challenges.
  • And more…

Do You Need Help With Your Exit Strategy?

Our business coaches and consultants at Remodelers Advantage are standing by to help you formulate your strategy. It’s never too early to start and you will find that there are many steps you should be taking now to insure a more successful exit later. [Click Here to Learn More]

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