Matthew Fornaro on Business Law Essentials, Entrepreneurship, and Core Values
In this episode of Wisdom on the Front Porch, LS Kirkpatrick talks with Matthew Fornaro about the essential business formalities and steps for entrepreneurs, especially when changing states. They discuss the importance of understanding state laws and collaborating with local attorneys to improve and transition businesses. Matthew shares insights on balancing business with family life and maintaining core values amidst challenges. The conversation delves into career transitions, strategies for finding clients, and key advice for new entrepreneurs. They address overcoming discouragement, the significance of reflection, and the role of business contracts in success, concluding with resources and gratitude.
Key Points
- Proper planning and having a written business plan are essential steps before starting any business to ensure everything is on the right track from the beginning.
- It's crucial for business owners to have a group of professionals, including a business law attorney and an accountant, to help them make the best decisions and maintain proper documentation throughout the life of the business.
- Believing in oneself and having systems and processes in place are key to overcoming challenges and ensuring the success and sustainability of a business.
Chapters
| 0:00 | |
| 1:52 | |
| 6:37 | |
| 11:19 | |
| 12:47 | |
| 16:21 | |
| 23:06 | |
| 26:43 | |
| 30:55 | |
| 32:59 | |
| 34:16 | |
| 37:32 | |
| 38:29 | |
| 39:13 |
Transcript
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