What Do I Need To Legally Protect My Coaching Business?

Full disclosure   — as a lawyer, I am ALL ABOUT making sure your legal ducks are in a row. UGH — legal. I know, I know. Every coach I have met is intuitive, empathic, creative. They have these attributes that serve them well as coaches. They are driven to serve. Otherwise, they are in the wrong profession! But as business owners, it’s important to occasionally take off the creative, service-provider hat and focus on the business side of your business. What’s the saying? There is time to  w ork  IN  the business and time to work  ON  the business. The first and foremost item on your “Work ON the Business To-do List” should be getting your legal foundation in place to protect the business you are building. So what does protecting your business include? Here are the basics for a solid foundation to protect your business: Create a legal entity . A legal entity creates a separation between the debts, obligations, and risks of your business and your personal asse...

The first time I heard the term " life coach ," I have to admit, I snickered.  What kind of grown adult needs someone to coach them through life?    What kind of person thinks they are in a position to tell someone else how to live their life? In my experience networking with other women professionals, I started meeting a lot of coaches of all types.  That's because it's one of the fastest-growing industries for women entrepreneurs - and for good reason!  Life has gotten complicated; technology has made things more accessible and also more confusing.  Families have to juggle two working parents and kids' crazy schedules.  Living costs more, so people work more.  Throw in a pandemic and, well, life is just A LOT. As I talked to the coaches I met, I realized two things: 1) life coaches don't tell people how to live their lives, and 2) sometimes we are looking for an ear, a guiding voice, a sounding board, a neutral opinion, encouragement, and affirm...