Building Your Business Advisory Team  Bob Bell – Director,  Lawler Partners Anthony Sullivan – Director, Lawler Partners L...
Building Your Business Advisory Team  Bob Bell – Director,  Lawler Partners Anthony Sullivan – Director, Lawler Partners L...
<ul><li>Louise Woodbury </li></ul><ul><li>Co-author of </li></ul><ul><li>The Invisible Partnership &  </li></ul><ul><li>Th...
<ul><li>“ If business owners are not working with an advisor, they run the risk of becoming insular or trapped within the ...
<ul><li>‘ How coachable am I?’ </li></ul>
<ul><li>“ You need clarity on what is it you need and then who would have the greatest positive impact on your life and yo...
<ul><li>“ The advisors must understand human dynamics. The logical and emotional.” </li></ul>
<ul><li>“ The advisors must be successful in advising how to build a business holistically. Entrepreneurship, stewardship,...
<ul><li>“ In choosing the right advisor(s) is no different to recruiting a new team member(s).”  </li></ul>
<ul><li>“ You need to consider not only what strengths, skills, background, but also the networks the advisor can bring to...
<ul><li>“ Most importantly the advisor(s) must align with your core values.” </li></ul>
<ul><li>[email_address] </li></ul>
Building Your Business Advisory Team  Bob Bell – Director,  Lawler Partners Anthony Sullivan – Director, Lawler Partners L...
Selecting Legal Advisors Key Considerations John Pagacs Special Counsel July 2010
What is a Lawyer? <ul><li>Can be a sole practitioner working alone or a large partnership of hundreds of lawyers (and ever...
Why see a Lawyer? <ul><li>Australia has complex laws and regulations for all businesses </li></ul><ul><ul><li>Thousands of...
Typical Legal Issues <ul><li>Terms of trade – contracts with suppliers and customers (eg security interests) </li></ul><ul...
Common Mistakes <ul><li>Failing to protect IP and security interests </li></ul><ul><ul><li>Results in reduced goodwill and...
Minimising Costs <ul><li>Example: Insurance  </li></ul><ul><ul><li>Small regular outlay to offset a large potential cost <...
Selecting a Lawyer <ul><li>Key factors to consider: </li></ul><ul><ul><li>Is your lawyer someone you trust & respect? </li...
Practical Tips <ul><li>Budget for legal costs– they are not so painful if you have anticipated them in your business plan ...
FURTHER HELP <ul><li>Australian Business Lawyers </li></ul><ul><ul><li>John Pagacs </li></ul></ul><ul><ul><li>Special Coun...
Building Your Business Advisory Team  Bob Bell – Director,  Lawler Partners Anthony Sullivan – Director, Lawler Partners L...
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Lets Talk Business Building Your Business Advisory Team

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Let's Talk Business: Building Your Business Advisory Dream Team

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Lets Talk Business Building Your Business Advisory Team

  1. 1. Building Your Business Advisory Team Bob Bell – Director, Lawler Partners Anthony Sullivan – Director, Lawler Partners Louise Woodbury – CEO Quantum Dynamics; Co-Author &quot;The Invisible Entrepreneur“ John Pagacs – Special Counsel, Australian Business Lawyers Moderated by Small Business Commentator Valerie Khoo
  2. 2. Building Your Business Advisory Team Bob Bell – Director, Lawler Partners Anthony Sullivan – Director, Lawler Partners Louise Woodbury – CEO Quantum Dynamics; Co-Author &quot;The Invisible Entrepreneur“ John Pagacs – Special Counsel, Australian Business Lawyers Moderated by Small Business Commentator Valerie Khoo
  3. 3. <ul><li>Louise Woodbury </li></ul><ul><li>Co-author of </li></ul><ul><li>The Invisible Partnership & </li></ul><ul><li>The Invisible Entrepreneur </li></ul>
  4. 4. <ul><li>“ If business owners are not working with an advisor, they run the risk of becoming insular or trapped within the confines of their own knowledge.” </li></ul>
  5. 5. <ul><li>‘ How coachable am I?’ </li></ul>
  6. 6. <ul><li>“ You need clarity on what is it you need and then who would have the greatest positive impact on your life and your business.” </li></ul>
  7. 7. <ul><li>“ The advisors must understand human dynamics. The logical and emotional.” </li></ul>
  8. 8. <ul><li>“ The advisors must be successful in advising how to build a business holistically. Entrepreneurship, stewardship, social responsibility.” </li></ul>
  9. 9. <ul><li>“ In choosing the right advisor(s) is no different to recruiting a new team member(s).” </li></ul>
  10. 10. <ul><li>“ You need to consider not only what strengths, skills, background, but also the networks the advisor can bring to your business.” </li></ul>
  11. 11. <ul><li>“ Most importantly the advisor(s) must align with your core values.” </li></ul>
  12. 12. <ul><li>[email_address] </li></ul>
  13. 13. Building Your Business Advisory Team Bob Bell – Director, Lawler Partners Anthony Sullivan – Director, Lawler Partners Louise Woodbury – CEO Quantum Dynamics; Co-Author &quot;The Invisible Entrepreneur“ John Pagacs – Special Counsel, Australian Business Lawyers Moderated by Small Business Commentator Valerie Khoo
  14. 14. Selecting Legal Advisors Key Considerations John Pagacs Special Counsel July 2010
  15. 15. What is a Lawyer? <ul><li>Can be a sole practitioner working alone or a large partnership of hundreds of lawyers (and everything in between) </li></ul><ul><li>Some are specialists, other are generalists </li></ul><ul><li>Lawyers are expensive </li></ul><ul><ul><li>$200-$400/hr for a lawyer in a small suburban firm </li></ul></ul><ul><ul><li>$400-$700/hr for a senior lawyer in a medium to large firm </li></ul></ul>
  16. 16. Why see a Lawyer? <ul><li>Australia has complex laws and regulations for all businesses </li></ul><ul><ul><li>Thousands of pages of new laws every year </li></ul></ul><ul><ul><li>Business advisors, accountants and business Chambers are valuable and can help but can not give legal advice </li></ul></ul><ul><li>Avoid penalties for breach of some laws </li></ul><ul><li>Assistance to fully protect your business interests (eg: personal assets, IP) </li></ul>
  17. 17. Typical Legal Issues <ul><li>Terms of trade – contracts with suppliers and customers (eg security interests) </li></ul><ul><li>Protection of intellectual property </li></ul><ul><ul><li>Trade marks vs Domain or Business names </li></ul></ul><ul><li>Employment laws </li></ul><ul><ul><li>Fair Work Act, Modern Awards, Unfair dismissal laws </li></ul></ul><ul><li>Business Structure – may need to change as the business grows </li></ul>
  18. 18. Common Mistakes <ul><li>Failing to protect IP and security interests </li></ul><ul><ul><li>Results in reduced goodwill and allows competitors to gain an advantage </li></ul></ul><ul><li>Failing to update business structures </li></ul><ul><ul><li>Tax issues / Disputes among the owners </li></ul></ul><ul><li>Uncertainty when dealing with employees </li></ul><ul><li>Waiting for a dispute before fixing a problem </li></ul>
  19. 19. Minimising Costs <ul><li>Example: Insurance </li></ul><ul><ul><li>Small regular outlay to offset a large potential cost </li></ul></ul><ul><li>Legal Costs </li></ul><ul><ul><li>Early and regular advice and assistance may cost a few thousand dollars </li></ul></ul><ul><ul><li>Litigation usually costs tens or hundreds of thousands of dollars </li></ul></ul>
  20. 20. Selecting a Lawyer <ul><li>Key factors to consider: </li></ul><ul><ul><li>Is your lawyer someone you trust & respect? </li></ul></ul><ul><ul><li>Can your lawyer add value to your business? </li></ul></ul><ul><ul><li>Do you need a generalist or a specialist? - A specialist may cost more per hour but will know exactly what to do to help you in their field </li></ul></ul><ul><ul><li>Are you the type of client that is a good match with the lawyer you have chosen? </li></ul></ul><ul><li>What to look out for: </li></ul><ul><ul><li>Hidden costs </li></ul></ul>
  21. 21. Practical Tips <ul><li>Budget for legal costs– they are not so painful if you have anticipated them in your business plan </li></ul><ul><li>Have a “legal health check-up” for your business every few years – you may not always recognise you have a problem, but a professional may spot it straight away </li></ul><ul><li>Avoid comparing lawyers on hourly rates alone </li></ul>
  22. 22. FURTHER HELP <ul><li>Australian Business Lawyers </li></ul><ul><ul><li>John Pagacs </li></ul></ul><ul><ul><li>Special Counsel </li></ul></ul><ul><ul><li>(02) 9458 7006 </li></ul></ul><ul><ul><li>[email_address] </li></ul></ul>
  23. 23. Building Your Business Advisory Team Bob Bell – Director, Lawler Partners Anthony Sullivan – Director, Lawler Partners Louise Woodbury – CEO Quantum Dynamics; Co-Author &quot;The Invisible Entrepreneur“ John Pagacs – Special Counsel, Australian Business Lawyers Moderated by Small Business Commentator Valerie Khoo

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