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Let's make contracts and accounting fun with Braden Drake
Manage episode 421126837 series 3331587
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Today I'm chatting with Braden Drake, founder of Not Your Average Law Firm. He takes two typically dry subjects - finance and law and makes them a whole lot more fun. We discuss the importance of understanding legal and financial matters for wedding business owners. Braden talks about hiring practices, the necessity of comprehensive contracts, and the significance of separating personal and business finances.
Time Stamps:
(0:00:00) Hiring and managing employees, freeing up time for business growth.
(00:00:24) Introduction to the podcast and guest, Braden Drake.
(00:01:23) Initial conversation and welcome to the podcast.
(00:02:02) Making boring subjects exciting, sharing enthusiasm.
(00:02:50) Discussing the start of Braden's journey in law and numbers.
(00:03:30) Law school experience, comparison to "Legally Blonde."
(00:04:37) Graduating and starting own business with financial support.
(00:05:57) Transition from working with creatives to the wedding industry.
(00:07:44) Helping wedding industry professionals with legal and financial matters.
(00:08:37) Mission behind helping businesses with legal and tax matters.
(00:10:26) Common contract mistakes and the importance of having contracts.
(00:11:13) Essential elements to include in client contracts for wedding suppliers.
(00:14:27) Common mistakes in accountancy, importance of separate finances.
(00:15:54) Setting aside money for taxes and profits, utilizing auto-savings.
(00:17:36)Personal approach to managing profits and savings for specific goals.
(00:18:15) Encouraging proactive tax payments and automation.
Automating Savings (00:18:29) Braden discusses the benefits of automating savings and the psychology behind it.
Tax Deductions and Credits (00:19:19) Braden explains the difference between tax deductions and tax credits, using examples to clarify.
Transparency in Finances (00:21:08) Becca praises Braden's transparency in discussing his own finances and the benefits of normalizing such conversations.
Pricing and Mistakes (00:22:59) Braden shares insights about pricing services based on actual numbers and learning from business mistakes.
Being Unapologetically Yourself (00:24:10) Braden talks about finding confidence in being himself and the benefits it brings to his business.
Hiring and Business Growth (00:26:10) Braden and Becca discuss the importance of hiring and growing a team in business expansion.
Closing and Contact Information (00:27:39) Becca shares details on how to connect with Braden and concludes the podcast episode.
Mentioned in this episode:
Summer Support!
Looking for support with your wedding business or venue this season? I have put together some options for you. Wedding Pro Agency: Hand over some of your admin tasks to my team to give you some time back this summer. From social media posting to website updates, email sequences and crm set up, there are lots of ways we can help you. One to One support: I have two spaces to offer one to one support from June - August to help keep you in track. If you are interested, drop me an email: becca@beccapountney.com
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