Alain Guillot

Life, Leadership, and Money Matters

What Do New Entrepreneurs Get Wrong About Legal Costs

What Do New Entrepreneurs Get Wrong About Legal Costs?

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The chances are pretty high that you could agree that starting a business feels like jumping into a whirlwind, well, a good one. Like this is something that is pretty fun, but at the same time it’s terrifying, because it’s all new. You’ve got ideas pouring out of your head, a great logo that wasn’t made in Canva, and maybe about a hundred tabs open for business name checks, tax IDs, and website templates. So, what’s the last thing on your mind? Well, chances are, it’s the boring legal stuff. Like no one really thinks about legal protection until it’s too late. 

Besides, who wants to think about contracts when you’re trying to take over the world? While it might seem fairly obvious, well, from a distance, that whole “I’ll deal with it later” approach will usually snowball. It’s basically how small mistakes turn into big, expensive messes. And yeah, that’s exactly where so many new entrepreneurs go wrong.

Legal Help isn’t Just for when You’re in Trouble

Yeah, it makes total sense that you would think that, of course. Anyways, somewhere along the way, people started treating lawyers like firefighters, like you call them only when something’s on fire (figuratively speaking here).  The problem is, by the time you’re calling one, the damage is usually already done. Now, you really have to understand that a lawyer’s job isn’t to make your life complicated. It’s to make sure your future self feels safe, so yeah, it’s about prevention, not panic.

Actually, just go ahead and think of it like this: would you only get car insurance after a crash? Yeah, probably not. You’d have it before, because you know bad luck shows up out of nowhere. Well, the same goes for legal help. It’s not about assuming something will go wrong; it’s about knowing you’ll be fine if it ever does.

But what About the Cost?

At some point, every new business owner whispers it to themselves: How much does a lawyer cost? Okay, yeah, it’s a fair question. Maybe you already did a quick Google search, and that alone ended up in sticker shock. Okay, while it might be hard to believe, it’s really not as scary as it looks, and skipping it usually costs more in the long run. 

It might help to think of it like this: trying to DIY contracts or borrow “free templates” from the internet is like cutting your own hair. It seems easy until you look in the mirror and realize it’s a disaster.  Like, a total and utter disaster.  It might be hard to believe, but yes, you can actually save money by getting one. 

Just Think of it as “Business Self-Care”

Okay, maybe that within itself sounds extremely weird, right? But yeah, legal protection isn’t glamorous, but it’s essential. You probably do preventive care on yourself, right? Like you wear sunscreen to avoid sunburns on hot days, well, think of it like that. So, just having a lawyer look over your contracts, trademarks, or partnerships keeps you from getting blindsided by things that sound minor but cost thousands to fix.