Legal Business Myths Exposed!

Many business owners have preconceived ideas about what the law can and can't do for them. And, most of these ideas are wrong. i'm going to write a bit on the top three legal myths that many business owners actually believe. If you have a question about a legal issue, ask an attorney or send in the topic. I would be happy to provide you with a generic answer and you can take that information further with a legal review of your specific circumstances.

#1. An LLC will always protect your assets. Forming a corporation or an LLC does provide some protection, but it’s far more limited than you realize. In most cases, if someone really wants to go after your personal assets, not only can they pierce your business entity, they will.

#2. You’re liable for damages due to injuries on your property. This couldn't be further from the truth! You’re not responsible for the negligence, clumsiness, stupidity, or criminal acts of others- period! I don't care if this happens on your property, you're not responsible for it.

#3. A contract has to be complicated. A great contract is to simply communicate the terms and intent the parties agree to. That’s what minimizes disputes and litigation after the fact. You don’t even need an attorney to negotiate and draft a legal agreement. If you note all the facts, costs and a cancellation policy- you should be good. When contracts build in loopholes, you should be concerned.

Business is complex enough. Knowing what is a myth and what is fact will help you navigate your way to success!

Twyla

Social Media Tricks

Social media plays a crucial role in our day-to-day lives. Think about the recent tragedy in Boston. When police capture the suspect a press release wasn't the first thing to go out. A Tweet was! Your business' brand depends on a great social media campaign and daily updates. Below are some simply ways to improve how you use social media.

#1. Respond and listen. I recently read this great article by social media God Dave Kerpen. A couple of years ago, when Kerpen went to Vegas, the check-in line at the Aria hotel where he was staying "took forever," he said. So Kerpen did what he does best--took to Twitter, and quickly posted: Waiting on line for 45 minutes at the Aria. Not worth it. #fail

Did he hear anything from the Aria? No. But he did hear from the Rio, a hotel down the street. Within two minutes, the Rio Tweeted back to Kerpen: Sorry you're having a bad experience, Dave. Hope the rest of your time in Vegas goes well. Kerpen didn't switch hotels on that trip, but where do you think he stayed the next time he went to Vegas? The Rio. And he "liked" the Rio on Facebook. And sometime later, a friend going to Vegas saw that Kerpen had "liked" the Rio, so asked if Kerpen would recommend the hotel. His response? "I don't think it's the fanciest, but I know that they listen," Kerpen recalls telling that Facebook friend.Kerpen pointed out that all the Rio did was pay attention to Twitter, and respond with empathy. (source: Allison Fass of Inc.com.)

If you're online and you're paying attention, your clients can come from anywhere, especially where other companies are messing up. So become engaged and get involved. Don't just promote yourself online.

#2. Give Everything Away. Ok, not everything. But, if you are trying to establish your brand then giveaways are a great way to engage potential customers and grow your following. People share giveaways online. It only takes a few "Likes" or Retweets to get the social media ball moving.

#3. Don't engage in wars. There are going to be upset clients from time to time. And, they will take to social media to express their anger or disappointment. Don't talk about their issue in a public forum. Instead, invite him or her to provide you with their contact details. Immediately address the person on the phone, find out how to rectify the problem and follow up with a letter.

Social media, as I have said before, is an art. Learn how to navigate your way through it and you will add to your success!

Until next time,
Twyla

Feeling Negative? Let Me Help!

Business owners and employees can feel negative about their work experiences from time to time. It happens. We all have bad days or run ins with people that sour our attitudes. Bouncing back from feelings of negativity is a necessity when it comes to being successful. The first thing you want to do is always address why you're feeling negative. What are the circumstances surrounding your mood? Are you just feeling negative or is there fear involved? Fear is often involved if you feel your status within the company has been threatened or that your business is in jeopardy.

After addressing the situation take a walk. Walking will clear your head and allow you to think about the severity of what is going on with your emotions and within the company. Are your assumptions and fears right? Can you really not stand THAT person? A little perspective can go a long way before a call to action is required.

Negativity also stems from feeling rejected or experiencing anger. Perhaps you pitched a proposal to a client or boss that was shot down. You might feel negative because you feel rejected. Or, maybe an undeserving competitor or coworker got what was to be your account. You might feel very angry and also negative. Regardless as to what happened, immediate reactions can be detrimental to your reputation. Don't let feeling negative ruin your reputation.

Twenty percent of your work generally produces 80 percent of your results! You need to stay focused and, again, gain perspective on your feelings and why you feel that way. If you need to take an hour to walk it off, or a mental health day- do so! Whatever you do, don't react when feeling fueled with negative feelings- it will only escalate a situation.

Stay as positive as possible and remember to focus on the 20% of work that produces 80% of results. Keep your eye on the prize!

Twyla

The Boston Bombs, My Thoughts.

As A Homeland Security expert I have various thoughts on the tragedy that occurred in Boston yesterday. I also, like everyone, have different questions. I can't really get into the logistics of my questions, but watching the media speculate has been interesting. There is a lot of parties involved when a tragedy occurs, like the one in Boston. Various resources have to pull together without warning and work under terrible circumstances. How people pull together can be planned and tested day in and day out, which is primarily what IME does. I've complied a workbook for such events and it is going to be inserted in my upcoming Homeland Security book. In the meantime, here are a few tips for how to handle a tragic event as a member of the public.

What To Do During A Terrorist Attack or Natural Disaster:

Preparation is key. If you are going to a large event try to keep your ears open. Listening for strange sounds, weird chatter, or even an increase in coughing- leave the scene. Also, be aware of where to go. Make a mental note of marked exits and places that could become exits if need be. Make sure you set up an emergency meeting point with your family should you get separated.

Invest early. I know some people who invest in KI (potassium iodide. Although extreme, this isn't that bad of an investment. KI fills up the thyroid with good iodine so your body doesn’t absorb the radioactive iodine, which is needed should there ever be a nuclear event.

Know how to react. If you get trapped in rubble from an explosive device (or natural disaster), don't panic. Make sure to cover your mouth with a piece of clothing to help filter the dust. Do NOT use a lighter since there could be gas leaks! Tap on a pipe or wall so rescuers can hear you. Yelling may cause you to inhale a lot of dust and first responders are trained to listen for tapping and subtle noises.

These basic tips are just the basics. I will be posting more throughout the week so make sure to check back.

Stay safe out there,

Twyla Garrett

MEDIA CONTACT:

Helene Vece
702-749-5925
702-749-5925, ext 210
Helene@JumpStartInk.com

Speaking of Earvin “Magic” Johnson.

I've got some great news for those of you who read my daily blog. On May 17th I will be speaking at the Black Enterprise Events Expo. This event features many successful African American business owners and leaders. I'm proud to be a part of the expo. I will be speaking in the afternoon for the 6B Sisters Inc. session hosted by Walmart. Other speakers on the panel with me include: Kimberly A. Blackwell, Managing Partner/CEO, PMM Agency, Lauren Maillan Bias, Founding Partner Gen Y Capital Partners/CEO Luxury Marketing Branding, and moderator Sonia Alleyne, Multimedia Editorial Director, Black Enterprise.

The Expo is being held at the Columbus Convention Center in Columbus, Ohio. You can read more (or purchase tickets) by clicking here. http://www.blackenterprise.com/events/2011/07/11/test-post-ec/

More about me can be read by clicking here. http://www.blackenterprise.com/events/?post_type=speakers&p=147422

I'm proud to be speaking at an engagement that promotes opportunity, success and has Earvin "Magic" Johnson as a headliner. Helping people succeed in life is one of my passions. I have come across many mentors when learning how to navigate my own way through life. If you can attend this event, please do so. It is a great way for us to meet face-to-face and for you to network with other business leaders.

Happy Sunday!

Twyla