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WTW005 What’s the worst that can happen to Jo Wood and Zoe Whitman of 6 Figure Bookkeeper?
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Jo Wood and Zoe Whitman are business partners who together run their business 6 Figure Bookkeeping, helping to train and coach bookkeepers into building their own respective businesses. Together they share stories of losing tens of thousands of pounds in previous partnerships, whilst Suzanne shares her own story of losing over £5000 in her own business. Suzanne also discusses the importance of letters of engagement, how to guard against cancellations of events due to covid, the risks of shareholders falling out and the importance of trademarking your name if you want to license or franchise your business. In This Episode:
[1:47] Jo and Zoe explain their business model.
[3:01] Jo shares how she has lost tens of thousands through previous partnerships.
[4:31] Suzanne describes her own story of a client not paying her the £5000 that was owed to her.
[5:11] Zoe explains her attitude to legal risk and how not knowing she had things right kept her stuck in her business.
[7:23] Jo and Zoe talk about the issues their own bookkeepers face when starting their own businesses and growing them including the importance of having letters of engagement in place.
[10.00] Suzanne dicsussed the risks of relying on industry provided terms of business.
[10:30] What do Jo and Zoe think is the worst that can happen with their bookkeeping business? They talk about events, covid and Shareholders Agreements.
[11.30] Suzanne discusses the importance of having a no refund clause and a force majeure clause in your b2b contracts.
[12.30] Suzanne talks about the worst that can happen for Jo and Zoe's business, in terms of their relationship breaking down and terms in the Shareholders Agreement about what would happen to the business. Suzanne shares ideas on how commercially you can deal with a relationship breakdown between two or more shareholders.
[17.20] Suzanne discussed the importance of registering your name as a trademark for protecting your brand when licensing or franchising and summarises the timescales for trademarking.
Learn more about how Jo Wood and Zoe Witman are helping bookkeepers.
Find the resources mentioned in this episode!
www.suzannedibble.com/podcastresources
The contents of this podcast are provided for information purposes only and are not intended to amount to advice. You should not rely on any of the contents of this podcast. Professional advice should be obtained before taking or refraining from taking any action as a result of the contents of this podcast. Suzanne Dibble and Niche Legal Solutions Limited disclaim all liability and responsibility arising from any reliance placed on any of the contents of this podcast (other than in relation to matters for which is not legally permissible to disclaim liability)
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