Archives for March 2017

Ep. 12 – 5 Legal Must-Haves Before Launching Your Online Course

March 29, 2017 by Art Steele 6 Comments

Online courses are taking off! Everyone has one or every one wants to have one. That’s because it’s a win-win situation for everyone involved. The great thing about having an online-based business is that you can reach a wider range of people than if you were to operate your business locally. But, that doesn’t give you more hours in the day. An online course allows you to scale your business by reaching hundreds of people at the same time.

For that reason, an online course is a very valuable business asset. My goal is to help you protect that asset because the last thing you want is to put so much time and energy into creating your course and have someone rip you off by copying or redistributing your work, or end up suing you because of it. I came up with the idea of this podcast because last week, Nicaila Matthews of Side Hustle Pro did a podcast about How To Create Your First Online Course. I thought covering the legal aspects of offering your course would be a great complement to her podcast.

Below I’ve given some detailed explanation but make sure the download the cheatsheet for sample provisions.

Here we go!

Listen to Episode 12

NUMBER ONE: ADVERTISING
I know how excited you get when you can finally offer your course. You want to tell your audience about all of the wonderful results they will get if they participate. But I caution you to be very careful about any claims you make. Pursuant to the Federal Trade Commission Act:

advertising must be truthful and non deceptive;
you must be able to back your claims or promise with evidence; and
advertising cannot be unfair (so unreasonable a consumer could not figure it out).

If your advertising is considered false or misleading, the FTC could fine you stiff penalties (as much as $45,000 PER DAY!). Furthermore, if you use testimonials, they must be testimonials from the average user. That means if 30 people buy your course and only two achieve the desired results then they are not your average user. You can still use these testimonials, but you must qualify it.

Cheatsheet includes sample testimonial language.

NUMBER TWO: REFUND POLICY
Your refund policy will generally be included in your Terms of Use, but I mention it here because I want you to pay close attention to drafting a clear policy. You want to make sure to tailor it specifically to your program and your own policy. You want to make sure your refund policy explains these three things:

Is there a refund? You could have a “no refund” policy. And that is something you want to consider when selling digital content. Just make sure you make it clear.
The time frame within which to request a refund. Many people who buy online courses will not access it for weeks, sometimes months. So make it clear that if they want to request a refund, it is within X days of the purchase date.
What kind of refund? Partial, full?

***SEE CHEATSHEET FOR SAMPLE LANGUAGE FOR REFUND POLICY

NUMBER THREE: TERMS OF USE-ONLINE COURSE – GET FULL DOCUMENT HERE
This is similar to the Terms and Conditions on your website, but much more important because this is the contract your buyers are agreeing to in order to use your online course. You want to make sure to set up your cart in a way that requires your buyers to agree to the terms BEFORE they purchase the course. In addition to standard boiler plate, make sure to include and review very carefully these items in your Terms of Use document:

- Name of your course. State the name of your program and what you are offering – again, good to be specific.
- Fees. State how much the course costs and what the different payment options are if you have different payment options. You also want them to acknowledge that they are giving you permission to automatically debit their card each month to collect payment. And finally,explain what will happen if they stop making payments (i.e. their access will be terminated).
- Refund Policy. Already addressed above
- Disclaimers. You want to include the standard disclaimers notifying your buyers that the information in your course is for informational and educational purposes only and that you are not a financial advisor, lawyer, or doctor (and if you are, just say that even though I am a lawyer, doctor, or financial advisor, this still isn’t ____ advice.). You also want to include an earnings disclaimer explaining that you do not make any guarantee that they will earn a certain amount (or any amount of money) by participating in your online course.
- Intellectual Property Rights. Again, you do not want to simply cut and paste this provision because you want to make sure it explicitly states what your users are not allowed to do with your content. I’ve seen many that simply say: “this program is protected by intellectual property law.” You should enumerate exactly what they are NOT allowed to do with your digital content (i.e. cannot copy, sell, upload, redistribute, exploit, repackage, etc. your content for commercial use). You should also list what they do have permission to do (i.e. can download and print out materials for you own personal use or for your personal use in your business). They should agree that they will not infringe upon your copyright and trademark laws. Finally, because you can’t possibly think of everything they could do, you want to state that all rights not listed in your agreement are reserved for you.
- How to Settle Disputes. Give consideration to how you want to formally settle any disputes with your customers. Your options are court, arbitration, and mediation. They each have their pros and cons. But make sure to chose one and state whether that method is binding on the parties (so that if you choose arbitration, the losing party can’t then take the other to court because they are unsatisfied with the result). You also want to state where it will occur, and yes, it’s absolutely fine and sensible to choose the state where you live. And by agreeing to your Terms of Use, your customer is agreeing to resolve their dispute in the forum you chose.

***SEE CHEATSHEET FOR SAMPLE DISCLAIMERS

Don’t want to piece it all together? Get the full Terms of Use document here.

NUMBER FOUR: COPYRIGHT
Copyright protects original artistic expression, i.e. music, lyrics, books, etc. Digital content is also protected against copyright infringement. The moment you publish the content on your blog or release it on the internet, it has copyright protection. You don’t even need to put the “©” on your content. It doesn’t hurt to include the copyright symbol on your material though, because this way you can let readers know that you are claiming copyright ownership of the materials and if anyone wants to copy or redistribute it, they know who to contact. But, there is a benefit to registering your content with the US Copyright Office. If you register your copyright within three months of publishing it and someone infringes on your right AFTER registration, you are entitled to damages up to $150,000. If they infringe upon your right before it’s registered, you have to do more work to get damages.

NUMBER FIVE: TRADEMARK
Obtaining a trademark is more complex than copyright, and protects a business name, a logo, a phrase, or the name of a product. You should give serious consideration to trademarking your online course because not doing so could have a direct impact on your ability to even sell or use your own products. I know what you’re thinking, that means I have to hire a lawyer, or that means it’s going to cost a lot of money, but think about this, after putting in all of your hard work and resources, and marketing your product and then finding out you can’t use the name you were planning on using. Or that you’ve been selling your product of a year and someone contacts you with a “Cease and Desist” letter because you are infringing on their trademark. So before getting started, do a search to make sure the name you want to use is not taken. Start by searching the USPTO trademark database, then do a google search to see if anyone is using the name already because they may have a “common law” trademark and search your state entity forming agency (it’s the State Corporation Commission (“SCC”) in Virginia) to see if that name has been registered by someone.

Helpful links:
Federal Trade Commission’s Brochure on Advertising and Marketing on the Internet
FTC – Health and Fitness Claims
Advertising FAQs – A Guide for Small Businesses
Copyright General FAQs
Copyright Fees
Copyright Basics
Copyright Registration Portal (application to copyright your material)
USPTO Trademark Search Database

Listen to Episode 12.

Enjoy!

Listen on iTunes, Soundcloud, Stitcher

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Ep. 11: Top 5 Legal Questions from Small Business Owners

March 21, 2017 by Art Steele Leave a Comment

Hello Shingle People!

I’m really excited about this episode. As you see in the preview above, I had a bit of an epiphany. After participating in a legal clinic a couple of weeks ago, I realized that the “legal stuff” is very much still a mystery for a lot of new business owners.

*****Note: The subscription box above only sends the most recent download. Click here for Episode 11 Cheatsheet.

Starting a business is hard enough, the last thing you want is be bogged down with figuring out the correct way to form your entity, which entity to pick, what your next steps are, and if certain rules applies to you, etc. So, I’m here to take away some of that stress and to educate and empower women business owners about their legal rights and obligations when it comes to their business.

When I started my law firm almost three years ago, my goal was to use my corporate background and expertise to remove the legal barriers minority business owners, especially women of color, face when starting a business. I started this podcast in order to create a platform that would expand my reach to to minority women business owners all over the country.

In that vain, I decided I would answer the top 5 questions that were asked at the legal clinic. You know, because maybe you have the same questions. And even if you didn’t have this question right now, you could down the line and that’s why I have included the above cheatsheet to go with it.

So here they are. I give a bit of explanation on the cheatsheets but go into way more detail on the podcast, so if you want to full story, make sure to tune in.

Top 5 Legal Questions from Small Business Owners

1. Do I need to file a separate tax return for my LLC?

2. Can I use my business funds to pay personal expenses?

3. Where should I register my business entity.

4. What is the benefit of registering my business name?

5. Do I need a privacy policy on my website?

Make sure to enter your information above to get the cheatsheet.

As promised, you get a FREE Privacy Policy that you can add to your website today! Enter your information in the box above and it will be delivered to your inbox.

You’re welcome.

Listen to Episode 10.

Subscribe: iTunes

Ep. 010: Price Yourself to Get Paid! Free 12-Page Workbook to Pricing Your Products and Services

March 14, 2017 by Art Steele Leave a Comment

Hello Shingle People!
I’m so excited about this post! This is a workbook I’ve been working on for the last month! It’s a 12-page workbook that goes through a few exercises to help you come up with a sound and systematic pricing system that incorporates your value and the costs of running your business.

The subscription box above only sends the most recent download. Click here for Episode 10 Pricing Workbook.
I was inspired to create this workbook because I was once at a place where I had no method of valuing my skills and my services. When I first opened my law firm, I had no idea what I was doing when it came to the price of my services. I found myself constantly reducing my price with every client because I had no way of explaining to them why I had charged what I did.

So one day, after going to a practice management seminar for solo practitioners, the presenter briefly touched on budgeting and price. It was a light bulb moment and I came home, did the calculations and things have been smooth ever since.

That is not to say I haven’t been turned down when I give my price – that happens more times than I get a client. However, I’m no longer afraid to stick to my price. I’m no longer negotiating my price down. It just means I understand my value and how much it costs for me to perform my services and the minimum I need to earn to make that job worth my time.

I won’t go into too much detail here – I’m actually planning an EPIC blog post that will compliment the workbook and the podcast. Here are some of the exercises you’ll learn:

Value yourself – this is where it has to begin. You need to understand your own value before you can communicate it to someone else. There are a few questions you need to ask yourself to help you get a clearer picture of the value you offer your clients.

Embrace your cost – an important part of your price is determining how much it costs you to do business. This is important because you don’t want to run a business just to break even. If you don’t have a comprehensive view of your costs, what you charge will not be enough to cover your expenses and for you to make a profit.

Price yourself! – pulling a price “out of the air” as a starting point is tempting, but a set-up for failure. Here’s why: that price has nothing to do with your time, your value, and your financial goals. That’s not to say you can’t use it as a guide, but as long as you adjust it to your goals, it could work. I take the guess-work out of determining a price by providing you with two calculation methods to help you confidently price your services.

Let me know what you think. I would like to hear your feedback. I also want to know what methods you have used and what has increased your confidence about your price.

Listen to Episode 10.

Subscribe to iTunes

Enjoy!

Ep. 009: How Quickbooks Changed My Life! – Lacoya Heggie of Hello Love Events

March 7, 2017 by Art Steele Leave a Comment

Hello Shingle People!

Welcome to March Money Madness!!! This month is all about money snatching!

Bringing in clients is only one part of the picture. You have to learn to properly communicate your value to your clients in order to maximize your revenue. When you do bring in revenue, tracking it gives you a clear picture of how your business is growing.

Without a proper system in place, you will lose money. Simple fact. So, this month, I want to help you to stop leaving money on the table. I’m talking about properly pricing your services, deductions, business planning, seed money, business loans, paying professionals, keeping your records in order, the whole nine! That’s what my next guest did and she was able to go full-time just four years after starting her wedding planning business.

When Lacoya Heggie began Hello Love Events in 2012, she was sure of one thing: she was all in. It didn’t matter that she was working full-time as a systems engineer; she spent her nights, weekends, and even her lunch breaks, to build her business.

How She Did It
Lacoya built her business by being confident and developing a strong work ethic. From day one, she introduced herself as a wedding planner; she never used the words “part-time” or “side gig” when describing her business. She believes this attitude helped her break into the industry and make valuable connections. These are Lacoya’s tips:

be confident in both tone and body language;
clients can sense doubt and dishonesty;
lack of confidence can affect your ability to build relationships; and
confidence allows you to make a great first impression.

In addition to confidence, you must be willing to put in a tremendous amount of hard work. Even though she had a full-time job, Lacoya poured more of time into her business than she did working as an engineer. As a matter of fact, when I first discovered Lacoya’s Instagram and Facebook pages, based on how much she was engaged with her audience, I never suspected that wedding planning wasn’t a full-time job for her.

Managing Your Business
Lacoya knew early on that she wanted to someday be a full-time wedding planner. But in order to do so, she needed to know exactly how much money she was capable of making. She went from not having a system to keep track of her expenses to using a spreadsheet and then managing her business through Quickbooks accounting tools.

As a result, Lacoya noticed a few things:

she was spending more than 50% of her revenue on general expenses;
she was paying for subscription services that she wasn’t using;
she became aware of the types of purchases and expenses that were deductible and non deductible, which made her more strategic about her spending.

According to Lacoya, using Quickbooks changed her life. She now has a better handle on her finances. For example, she can run reports in Quickbooks that show her a breakdown of her revenue. This information allows her to prioritize certain areas of her business.

This episode is packed with encouraging words from Lacoya and a blueprint of exactly how she became a full-time wedding planner.

Enjoy!
Listen to Episode 9

Subscribe: iTunes

Archives for March 2017

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