Interested in starting your own entrepreneurial journey in personal and business development but unsure what to expect? Then read up on our interview with Yasmine Salem Hamdan, Founder, and CEO of Coaches & Company®, located in Dallas, TX, USA.
What's your business, and who are your customers?
Coaches & Company is a modern media company providing entrepreneurs with the tools & education necessary to build a Protected & Profitable business. Our lawyer-created, industry-specific legal contract templates are a fan-favorite and make getting your business legally legit easier than ever.
Our customers are professional service providers who are selling services online – this includes coaches, consultants, course creators, marketing professionals (social media marketers, copywriters, graphic designers, podcast producers, etc.), operations professionals (systems strategists, online business managers, virtual assistants, etc.), and more!
Tell us about yourself
My background as a business attorney is what led me down this path of creating Coaches & Company — I found through my work that many new entrepreneurs were simply not in a position to invest in hiring a law firm or an attorney during the first year of their business development. It makes sense — most new entrepreneurs aren't able to spend $5k+ on having all of their business contracts custom-created... but they still need them! So what's the solution? Previously, our customers were pulling together pieces of various contracts they found online, held together with digital duct tape. These contracts are a disaster waiting to happen; between liability, confidentiality, collecting payment, and more, there are too many opportunities for disputes with clients and/or team members. And disputes can be expensive in terms of money and time. Our contracts make it simple to get your business protected with the specific contracts you need with clients, with employees, on your website, etc., without it costing you an arm & a leg.
What's your biggest accomplishment as a business owner?
Creating an accessible resource that bridges the gap between the world of legal & the world of entrepreneurs.
What's one of the hardest things that comes with being a business owner?
One of the hardest things that come with being a business owner is developing the skills needed to build and lead your team effectively. It's a skill set I'm working to build each and every day.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Pick one person and one problem: trying to help everyone solve everything will get you nowhere, fast. My tip is to pick one specific person you'll solve one specific problem for, and you'll find it much easier to market, sell, and deliver your product or service.
- Always have a contract in place. Any time you're doing business with a client, a contractor, an employee, a business partner, etc., put the terms in writing. Don't fall for the common misstep of doing business via email or on a handshake — if it's not in writing, every interaction you have with the person is a negotiation. Is no client contract in place? Prepare to negotiate the late payment policy terms when it comes up. Is no contractor agreement in place? Prepare to negotiate ownership of the content they help you produce. Is no partnership agreement in place? Be ready to negotiate the terms of your split if they decide they want to break up. Come to an agreement on the terms (in writing) before money changes hands or any services are rendered; it's the best way to do business and protect the interests of all parties involved in the transaction or relationship.
- Have a privacy policy on your site. If you are collecting any personal data (name, payment info, email address, phone number, etc.), the law requires you to have a privacy policy posted on your site in order to put visitors on notice of what data you're collecting, how you're storing it, how you're using it, and how they can contact you about deleting their personal information. Not having this on your site, even if you're just collecting email addresses, can land you in legal hot water.
Where can people find you and your business?
Website: https://www.coachesandcompany.com/
Facebook: https://www.facebook.com/coachesandcompany
Instagram: https://www.instagram.com/coachesandcompany/
LinkedIn: https://www.linkedin.com/in/yshamdan/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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