February 8, 2010 by Aaron Scott Young
Our company does a lot of live seminars. In fact, in 2009 we did more than 100 live presentations and that number could easily go higher in 2010. When I took over as CEO back in 2001, Laughlin Associates did just four 3-day workshops per year. These programs were more focused on selling than educating. They sometimes included pitches something like this, â€œIf you buy right now you will get (fill in the blank) for free.â€ It was clear that this kind of tactic could create excitement or cynicism depending on your perspective. The seminars were successful selling machines but there were challenges that followed behind. The problem with selling based significantly on excitement and emotion is that buyers will often experience buyerâ€™s remorse. Thus, after some seminars there might follow a significant refunding of money or other company-client squabbles. This was not good and it was clear that we could improve our product.
CEO Aaron Young also maintains his own blog at smallbusiness411.wordpress.com
Today, if you examine one of our seminar fliers you will find a very different agenda. Our programs feature highly trained Laughlin staff, expert lawyers and CPAs each with a unique specialty. We cover topics ranging from choosing an entity that is right for your business, how to manage your corporate record book, lectures on the latest tax deductions for business owners, bullet proof asset protection, and how to organize your business so that it you can sell it or pass it down to your heirs. There is no doubt that we want people to become clients, but the tactics are different.
Our goal is to teach you everything you need to know in order to take care of all of these issues yourself. However, it is our experience that business owners tend to want to understand the big picture and then want somebody else to deal with the details. Thankfully, they hire us to handle those details more often than not.
There is a general consensus among the legal and accounting firms that we work with that the vast majority (maybe 95% plus) of businesses that are being conducted through a corporation or LLC are NOT getting the protections that the owners believe that are getting. The devil is in the details and that is what most owners ignore and what Laughlin has been taking care of for almost 40 years.
I would like to hear any stories that you have about having the corporate veil pierced or audit challenges that you have experienced or heard about. We hear horror stories everyday as owners engage our company. I bet you have some scary ones to share. They may not be pretty, but sharing them will help others avoid some or your pitfalls.
We look forward to seeing many of you at the March Seminar