The Business of Doing Business Podcast Episode 1

The Internet has revolutionized the way we do business.

In this inaugural episode, your host Yasmine Salem Hamdan dives into the world of digital entrepreneurship and online business, celebrating the unique strength and potential of independently owned businesses that are shaping the future of our business landscape.

Join Yasmine as she takes us through the premise of this new & exciting podcast, with a focus on online business, women entrepreneurs, and those with specific professional skills seeking to harness the power of business for financial independence and success.

Various business models tailored for digital entrepreneurs take the spotlight. Including personal coaching, corporate consulting, online courses, digital downloads, membership communities, agency models,  and freelancing.

A crucial aspect of the episode revolves around the importance of legal considerations in every facet of business, commerce & professional relationships. 

Drawing from her experience as a business & intellectual property attorney, Yasmine stresses the proactive need for entrepreneurs to address legal aspects early on, preventing potential issues down the line.

Links & Resources:

⭐️ FREE GUIDE: Download your copy of our Legally Launch Guide & Legal Check-up Checklist!

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Be featured on the show!

ASK your own question via #AskYaz, a business advice column-style segment addressing YOUR business questions!

SHARE your silly (or awkward) business story on Business Bloopers, a segment featuring amusing, unexpected,  and sometimes painful client & business situations!

LEAVE US A REVIEW on Apple or Spotify for a chance to be featured on an episode!

📲 Hang out with us on Instagram, Twitter (X) & Threads!

Episode Transcript

I firmly believe that independently owned businesses are the future of business. And that’s actually no secret because the SBA said so themselves. 33.2 million small businesses make up over 99% of all American businesses. Welcome to the business of doing business podcast with Yasmine Salem Hamdan.

Hello, my friend, and welcome to the business of doing business podcast episode freakin’ one, which feels pretty epic to say out loud, if I do say so myself, I have been wanting to create this podcast for quite some time now. And as we all know, all timing is good timing.

So I believe that now that this is actually happening, it must be great timing. And I trust that means if you’re listening to this, that you’ve also been wanting something like this, maybe even waiting for this podcast in particular. So I believe that it’s going to be great for everyone involved. And I am so pumped to kick this off.

First, I want to talk about you, my listener, I’m creating this for you, we are creating this for you, my team and I are creating this for you. And the person that I’m creating this for is a woman who has a particular set of professional skills, I’ll spare you the take in reference that I’m resisting right now.

But if you have a professional skill set that you are interested in leveraging to create a paid offering of some kind, like services or a digital product in a way that enables you to help more people in your target market, to create a flexible work schedule, and create financial independence for yourself and your family. I want you to know that you are in the right place. I am incredibly passionate about all of this, specifically, women using entrepreneurship as a tool to unlock financial independence and professional success that is compatible with your lifestyle as a modern woman.

I believe that in the current state of the world we’re living in, we are in a very exciting time of endless opportunities where the barrier to entry to business ownership, customer acquisition, and network expansion is virtually zero. It is a very, very low barrier to entry when it comes to starting a business, creating an offer marketing and selling it online, and delivering the service or the product.

And many times you can do these things with little to no cost. A lot of that can be done with minimal startup expenses to the business owner. And that just simply was not the case. It didn’t used to be the case when it came to creating a business, developing a product, marketing the offer, and reaching prospective buyers.

And then of course, actually selling the offer, ultimately delivering the product or service and of course, operating the business as a whole day-to-day. Doing all of those things used to involve a lot of manual work, a lot of in-person work, maybe even a physical office space. It involves also a lot of red tape and various barriers to entry. And for some industries could only be rendered locally to clients who live in your area, or within a close proximity to the business’s physical location.

Now, though, with business and the nature of doing business completely revolutionized and I mean, completely revolutionized by the internet, and all of the technology that has come about since the founding of the internet, anyone can create a business again, with minimal startup costs.

Anyone can develop a brand, anyone can access a marketing platform, or execute on a marketing strategy that doesn’t involve thousands of dollars in marketing or advertising costs, or other barriers to entry. And you aren’t limited to just the people physically close to you, either. Thanks to the internet, I love you so much internet, you can sell to anyone anywhere across the country or even around the world.

Anyone can do it if they want to, including you, my lovely listener, you might actually already be doing it, which is awesome. Now, I believe that with the information, the tools, and the technology available today that are so outrageously easy to use, and that’s one of the things that we’re gonna be talking about on this podcast.

Anybody who’s motivated to do so can learn to navigate starting and building a business, marketing and selling online, creating and signing contracts, negotiating deals in partnerships, creating content plus other intellectual property assets, managing client relationships, and how to do all of those things legally, and in a way that creates consistent income for yourself by serving and providing value to your target market that you have designed a solution for.

Let’s take a quick look at some numbers. The US Census reported that there were 5 million new businesses created in 2022. That’s a 42% increase from pre-pandemic levels wild in 2020. Amid COVID-19 pandemic, there were nearly 1 million more businesses created than in 2019, and that was the first time new business creation surged during a recession.

Recent survey data from Gusto indicates that this spike in entrepreneurship has been driven by pandemic-induced disruptions, and is led by women and entrepreneurs of color, which is interesting considering reports that show in 2021 49% of new business owners were women, up from 29%, before the pandemic, and that the share of entrepreneurs who identify as Black or African American has increased from 3% in 2019 to 9%, in 2021.

It literally tripled in size, which is incredible, and shows tons of potential for the future. All of this is very exciting to hear. I know, I feel the same way. It leads me to believe that people are motivated to do something different, to explore other options that probably weren’t presented to you as the traditional or expected path to take in your career.

That more and more women than ever before are realizing I can sell a service or a product myself in a very simple way that does not involve only fans. Okay, um, I joke, I joke, I joke if that’s you more power to you. But that’s all we’re talking about here. More and more women are realizing I can leverage my skills, and the online platforms that I have access to and the tools available today to create a thriving business.

I can reach my customers directly and deliver value to them without having to raise millions of dollars in venture capital, without having to invest thousands and thousands of dollars in marketing. And without having to hire a huge team to get started.

Technology and the internet now allows us to reach our customers directly to automate much of our business operations and marketing efforts, to store everything digitally, which we can love that, and to leverage our intellectual property as a path towards growth. I firmly believe that independently owned businesses are the future of business. And that’s actually no secret. It’s not groundbreaking or anything because the SBA said so themselves in 2022, that the 33.2 million small businesses that exist in the US make up over 99% of all American businesses.

So we’re out here doing this, and there’s plenty of room for everyone. So what kinds of things are women with valuable skill sets selling online, we found that many women business owners sell at least one offering and for some a combination of different tiered offers, varying in terms of price and accessibility to the business owner or the service provider. In terms of time and delivery.

Some of the most popular offerings include coaching services, both one-to-one coaching services and group coaching services, which is becoming more popular consulting services and private corporate trainings or workshops, online courses, and trainings that can be delivered entirely online or in person. Digital downloads, like tools, or templates or ebooks, subscription membership communities, agency models, or freelancing where the business offers services related to marketing operations, or maybe something entirely different.

You might even already be familiar with one or more of these business models. If so, that’s amazing. What all of these different business models have in common is the sale of a service or a product to the consumer. And when it comes to selling a service or product, there are some legal implications of course.

In my years of practice, as an attorney, I’ve seen a lot. Let’s just put it that way. And through this podcast, I want to share my experiences with you, I want to share the lessons I’ve learned with you. I want to help you avoid learning the lessons the hard way, which I believe it’s possible for entrepreneurs everywhere, to avoid learning lessons the hard way, and instead, be proactive and intentional about the business that you’re building. So that you’re not having to come out of pocket thousands and thousands of dollars to do damage control, so that you’re not having to consider shutting down your business because of an expensive legal problem.

Because what’s incredibly important and absolutely game-changing to understand is that it’s not a matter of if you’re gonna face legal issues, it’s a matter of when it just comes with the territory. It’s a part of doing business. And it’s something to be embraced and to prepare for, as opposed to waiting to do damage control or clean up a mess that was caused by failing to take a few steps in securing your business legally.

A lot can be prevented. And that’s great news. It just requires that you gain some key knowledge and take proactive action when you can and ideally that’s early on and before you get deep into the thick of things.

Another reason why I want to share important things to know and do as a business owner in order to prepare your business for business activities, and the more you do business, and the more you experience, and the more experienced you become, in your business, you will realize this, and you might have already discovered this is that legal touches every single aspect of business.

Legal affects marketing. It affects sales, it affects operations, it affects hiring, it affects finance, it affects your content creation, your partnerships, your client, customer relationships, it affects relationships with your team members internally. And there’s probably more that I haven’t listed right now. every single area of your business is impacted by legal and has some legal aspect to it.

So it’s important for you to go into business and entrepreneurship with a foundational understanding of certain legal concepts, ideas, and things to think about as you go about building your business. And as you navigate the different situations that come up in business.

Like I said, it’s not a matter of if it’s a matter of when to prepare yourself, and you’ll be really grateful that you did. Now I’m going to preface this entire podcast every single episode that we’ll publish here. This is not customized legal advice, or personalized legal advice. Of course, this is a pre-recorded episode, this is not live. Nothing I share here is specific to your particular situation, it’s really important to understand that every single business and every single situation varies even if they’re the exact same business.

If there’s a single fact that varies. It’s a different situation. And it’s not cookie cutter you never want to accept cookie-cutter advice. So please consult with an attorney before you make any major decisions related to your business. Or if you’re facing a legal issue of some kind. You’ll be glad that you did.

This might also be a good time to introduce myself briefly. I am Yasmine Salem Hamdan, if you’re curious, my name is Arabic for Jasmine, it’s just spelled with a Y. So it can be pronounced Yasmin in English. Yasmine in Arabic. And if you’d like you can call me Yes, everyone does. I am a business and intellectual property attorney based in Dallas, Texas. I’ve worked with innovative companies across all industries and my time as an attorney.

If you name an industry or a niche, I likely have worked with a client in that space. My clients have done really, really cool things like creating physical and digital products, and offering services and industries like business, operations, marketing, health, wellness, personal development, finance, and more.

Over the years, as I’ve worked with my clients, I’ve talked to hundreds and hundreds of small business owners and entrepreneurs. And in those conversations, I found that many do understand the necessity of legally protecting their businesses, they just don’t really have a budget to hire an attorney, which makes total sense when you’re just starting out and are in the first year or two of your business.

The thing is, though, even those without a budget for legal services have very real and very necessary legal needs that they need to take care of to give their business, a solid legal foundation, and actual legal protection for themselves and the business that they’re building. And so I wanted to solve that problem for them and help them with their legal needs without them having to take the step of hiring a lawyer one-on-one or working with a law firm having a law firm on retainer, which can be very expensive for a new business.

And so what I did was create coachesandcompany.com in order to provide more accessibility to quality legal tools, like our instantly downloadable, fully customizable, lawyer-created industry-specific contract templates designed specifically for entrepreneurs who are selling services, including coaching and consulting and done for you agency or freelance services, as well as digital products like courses, ebooks, templates, etc. online.

Our templates and educational resources, help our customers and members of our community, make sure that you all have the right contracts for your different business relationships. That your business formation is taken care of and that you understand internet and business law, because those are real things. And they’re really relevant to what it is that you’re doing If you’re building a business.

Also, that you are doing the right things online to protect yourself when you’re advertising your offers, and working with clients so that you’re building your team correctly with contractors or employees and that your intellectual property assets are secured so you can make money off of your creations as you please.

Here’s my big thing. I want every single entrepreneur to be able to take care of their legal needs, even if they’re just starting out. Even if You have a minimal budget. I see so many business owners ignoring the legal stuff, having horrible things happen to them losing sleep at night over it all, and dealing with tons of stress, and expensive legal fees because they didn’t take the steps that they needed to protect themselves, their businesses, and their intellectual property.

Coaches and Company and coachesandcompany.com is here to change that. So you can take care of your legal needs quickly and correctly. And continue growing your business confidently without stressing over things that you know you need to do, but just haven’t yet. And this podcast is a part of that too. So if you know that your business contracts could use some legal lovin, head over to coachesandcompany.com.

We have a special promo code for our podcast listeners that we’d set up as a part of our launch celebration, you can use the code “podcast” for special savings, just for our podcast listeners to celebrate the launch of our podcast. And that’s valid for a limited time. So check that out. Now, if you’re listening to this within our lunch period, I highly recommend checking out our bundles too, if you want to save money, which I think probably all of us do as business owners and entrepreneurs, especially when it comes to our legal expenses.

Most people do not want to have to spend any money honestly, on a lawyer. And I’m saying that as a lawyer. So take advantage if you know you need to level up when it comes to your business contracts. If you’re not fully confident in your client contracts, the terms and conditions on your site, the terms and conditions for your course, the agreement you have with your employees or contractors, all that good stuff, then get it together quickly and easily with our lawyer created contracts, coachesandcompany.com.

Okay, I’m gonna shift gears now, what you can expect from this podcast is a place where I’m going to share with you all the good stuff that you need to know, as an entrepreneur, if you’re selling services, selling digital products, if you’re putting your knowledge and experience out there, if you’re creating contracts and deals and partnerships, working with clients, or if you’re building a business in 2024, and beyond, where you’re leveraging your intellectual property, you’re going to want to know these things.

And I’m going to be sharing them with you here, I’m going to be breaking it down. Sometimes the topics, you know, that can sometimes be complicated legal things, but I’m going to be breaking them down into really easy-to-understand short, bite-sized episodes that you can listen to in the morning, while you’re getting ready, while you’re working out while you’re driving to the gym, picking up your kids, or whatever it is that you’re doing.

So that you can level up your business and your need your legal knowledge in a matter of minutes. It’s gonna be really fun. I’m really excited to be so good. And I know you’re going to be absolutely obsessed. I’m already just on cloud nine with this because I know that this is going to change so much for our listeners, I know it’s going to change so much for this new generation of entrepreneurs.

So many people in my community are entrepreneurs who started their business in the last 10 years. Yeah, to have a business that’s 10 years old, that’s significant. That’s awesome. To have a business that’s three years old is significant and awesome. But in the bigger picture, you’re still a newer entrepreneur. And so there are a lot of things that we learned through practice.

And like I said earlier, there are a lot of things that we can learn, not the hard way, we don’t want to have to learn every lesson the hard way, right? So I know it’s going to change the game for so many entrepreneurs. And what I’ve been trying to focus on is the best way I can support entrepreneurs in general, including new and aspiring entrepreneurs who might not have access to legal representation, and funds that they can allocate towards working one-on-one with a lawyer.

Not that there’s a substitute for working with a lawyer. I’ve just witnessed that there is a huge gap and information gap between the legal world and the business world, especially for this new generation of entrepreneurs. And the reason why I want to create this for those that are not in a position to work one-on-one with a law firm or lawyer is because I truly and wholeheartedly believe that every entrepreneur should have access to this information and these resources, even if they can’t afford to hire a law firm or a lawyer to work with them one-on-one, because I’ve seen it for years, what gatekeeping in the legal and business world looks like.

So if all of that sounds great to you, stick with me, my friend. You won’t regret it. It’s gonna be great. You might be wondering why I’m speaking specifically to women. The reason why I’m speaking to women in particular is because I am a woman and I understand what it’s like to be a woman. I understand the kind of things that we care about, I understand that we are women who want to live a free life women who want to live a quality and rich life.

Women who are value-driven family In relationship-focused or shared family values. These are the women that I’m talking to. And I don’t necessarily even mean that you have kids or you don’t have kids, which of course, each of those life paths are such unique and rich experiences of life as an adult woman, with children, and one who does not have children and is living her life independent of children. Each of those is such a rich path to take. And it is truly apples and oranges with both having the complete potential of being so juicy and delicious, just to keep that that analogy going.

Anyways, what I was saying, though, is that I know what it’s like to be a woman. And I know that you want to live a comfortable life, one that allows for you, to be you, and to be fully you the fully expressed version of you, and to be with your loved ones and your family and to provide for yourself and to care for your family and care for yourself all very well. And I want you to know that you don’t have to depend on others.

And that’s not the only path for financial independence, you can create your own business, it’s, of course going to be a little bit challenging. And if you’re already someone that is in business, you’ve established your business, you’ve started selling services, or you started selling products than you already know, it’s not a walk in the park, it’s certainly not a get-rich-quick scheme. It’s certainly not an overnight success. Like, if you’re here for that you’re in the wrong place.

So many people have done it. And so many people have failed to because that’s a reality of life. But so many people have done it successfully. So stay tuned, if you want to build or if you’re already building a business like the ones that I’ve described in this episode, there’s so much goodness coming your way on this podcast. And I hope you’ll subscribe and come back for future episodes every week. We’ll also have two segments on our show.

Like I said, I want this to be fun, this is gonna be good. So we were going to come up with some segments, we already have two segments that we’re going to launch with, that you can look forward to so one of them is Ask Yaz. Our business advice column, which will air at the end of each episode, or depending on the question, it might be a standalone episode on its own. If the topic is something that our listeners would be interested in us going a bit deeper on. So you can submit your question your business question for Ask Yaz at our website, the businessofdoingbusiness.com.

You even have the option of being featured on our podcast by reading your question aloud in an audio recording, and attaching it for us to play on the air when we answer it. So that’ll be fun. And I look forward to hearing from y’all. Our second segment is business bloopers where I along with a special guest to be announced at a later time, we’ll read your anonymous submissions of stories and times where you dealt with an absurd or hopefully hilarious client or business situation that took an unexpected turn, we ask that you include the juicy details and how you handled it.

But make it anonymous if you know what I mean. We’ll talk about our recommendations for handling similar situations, and how to best navigate client disputes and misunderstandings. And that submission form can also be found at the businessofdoingbusiness.com.

If you’re hearing all of this and thinking oh my gosh, I know people that would also love this. Please share this with your friends. Share it with your business bestie I humbly ask you if you’re able to spend 60 seconds, leave a rating and a review for us. Please, please know that we sincerely appreciate that as it is the best way that you can support this podcast as an independently produced podcast.

We hang out over on Instagram and on threads. So be sure to connect with us there. Our handle is at coachesandcompany I’ve been enjoying threads. I was on Twitter for a while. And that was fun. I had some thoughts on Twitter or I guess now it’s known as “X,” we can talk more about that later, too. Anyways, our handle is coachesandcompany.com and I will talk to you in the next episode. Peace.

Hey, friend. Thanks for listening to this episode of the Business of Doing Business podcast powered by coachesandcompany.com. If you enjoyed what you heard, please share it with a friend or to your social media and tag us at coachesandcompany.

And if you haven’t already, subscribe to the podcast so you never miss an episode. The best way to support this podcast is by leaving us a review wherever you’re listening to it now, it takes just a few seconds to do so and makes a huge difference to us as an independently produced podcast and can help us continue to create great content for our listeners.

Also, you can find more tips and resources for your business by visiting coachesandcompany.com and by following us on Instagram at Yasmine Salem Hamdan, and at Coaches & Company if you have any questions or comments, any topic requests or future episodes, or maybe you want to be a guest on our show, you can reach me directly by emailing Hello@coachesandcompany.com.

Thanks again for listening and I’ll see you next time!

Disclaimer (because, duh): The information presented in this podcast and on any affiliated platforms are for educational, informational, and entertainment purposes only. Consuming this content does not create an attorney-client relationship. If you need legal advice pertaining to your particular situation, you should consult directly one-on-one with an attorney.

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