5 Things You Should be Asking your Lawyer and Accountant

How often have you heard the saying, “You don’t know what you don’t know” and when it comes to running your own business, what you don’t know can actually cause you to fail.  

And that’s why I brought the best minds in business law and accounting, Pam Jordan and Stan Padgett, to this episode of I’m That Geek Web-TV show.

With more than 50 years of combined professional experience, Enrich Your Elephant is made up of attorney,Stan Padgett and financial management executive, Pam Jordan.

Having worked with everyone from startups to multi-million dollar companies, they have experienced the challenges that businesses face when they do not take the proper time and leverage the proper experience to set up their organization correctly.

And that’s why Enrich Your Elephant was born.

During the show, we discussed the different questions you need to ask when looking to hire an accountant and a lawyer, the different numbers you need to be looking at each week in your business and why it is so important to have an accountant and lawyer that knows what they are doing as part of your team.

Do you know if your business is set up correctly? If not, you could be in danger!  If you aren’t quite sure where to start, we also give you access to take an assessment so that you can see where you currently are and the next steps to take to make sure that your business thrives. 

About Pam Jordan and Stan Padgett

Pam Jordan has worked with small businesses for over 15 years as a MBA Business Accountant and Fractional CFO.

Also known as The Profit Finder, she has helped start-ups to multi-million dollar companies improve their profits, manage their cash flow and reach their financial goals. Pam specializes in organizing the chaos of small business and finding solutions to the ever-changing challenges. She lives in North Carolina with her husband and 3 children.

Stan Padgett has been a business trial lawyer for over 30 years. He has helped companies grow, get out of messes, and sell.

His passion is helping small businesses succeed and for business owners to have the freedom they deserve. Stan is an international speaker and best selling author. He lives in Tampa with his wife and enjoys spoiling his grandkids.

Takeaways

• How to find a good lawyer and accountant for your business 
• What 5 numbers you need to focus on to make sure your business thrives
• Why you need to have a good lawyer and accountant on your team

Summary

• How what you don’t know could be hurting your business (02:38)
• How Pam Jordan and Stan Padgett started working together (04:26)
• How do you even know where to start? (07:55)
• What causes 80% of businesses to fail? (11:12)
• How do you save on your taxes? (12:42)
• What to look for when hiring a good accountant (15:59)
• How to find a good lawyer for your business (18:22)
• What are the Top 5 Numbers you should care about in your business? (22:39)
• When should you be calling your lawyer for advice? (26:04)
• How do you know your home and personal assets are protected if something happens to your company? (30:30)
• What different types of issues can you encounter from trying to do things yourself and downloading forms from the internet? (33:49)
• Why you should take Pam and Stan’s Assessment to see if your business is set up correctly (37:26)
• Why you want to hire a lawyer with a broad range of experience with different business issues (44:02)
• What else you should look for when hiring a good accountant (45:38)
• What is the best type of business structure to set up? (48:13)
• What is the best type of accounting software to start with for your business? (50:22)
• Where are you losing money as a business owner? (53:09)
• Where can you find and connect with Pam Jordan and Stan Padgett? (58:06)

Links

Enrich Your Elephant Assessment

Pam and Stan Facebook

Pam and Stan Instagram

Pam and Stan’s Website

Pam’s Website

Stan’s Website