IAM322 – Former Litigator Helps People to Structure Their Business and Protect Assets

Before opening Royal Legal Solutions, founder Scott Smith was an aggressive litigator who brought suit against major insurance. He knows first-hand the tactics that plantiff’s attorneys use to win lawsuits. He brings this knowledge to bear when setting up business structures to protect your assets.

We analyze your individual situation and put nuanced strategies into place that will not only protect your property to the greatest extent possible but also save you money in taxes and state fees. You don’t need to be a millionaire to benefit from the right system for acquiring property and protecting your assets. Our clients range from first-time investors to seasoned real estate investors with a broad portfolio of properties.

• CEO Hack: Workout, journaling and meditating every single day OR go to the Suana
• CEO Nugget: Relax and do the next right thing.
• CEO Defined: Being a servant to your people.

Website: https://royallegalsolutions.com

Free LLC: http://royallegalsolutions.com/freellc

Full Interview

Check out one of our favorite CEO Hack’s Audible. Get your free audiobook and check out more of our favorite CEO Hacks HERE.

Transcription

The full transcription is only available to CBNation Library Members. Sign up today!

Intro 0:02

Do you want to learn effective ways to build relationships, generate sales and grow your business from successful entrepreneurs, startups, and CEOs without listening to a long, long, long interview?

If so, you've come to the right place. Gresham Harkless values your time and is ready to share with you precisely the information you're in search of.

This is the I AM CEO Podcast.

Gresham Harkless 0:29

Hello, hello, hello, this is Gresh from the I am CEO podcast and I have a very special guest on the show today Scott Smith of Royal Legal Solutions.com. Scott, it's awesome to have you on the show.

Scott Smith 0:39

Yeah, what's up? Gresh? Great to be here, brother.

Gresham Harkless 0:41

No problem. Super excited to have you on and what I want to do is just read a little bit more about Scott so you can hear about all the awesome things that he's doing.

Scott is a real estate investor, asset protection attorney, and owner of Royal Legal Solutions, the fastest-growing law firm in the country growing from 44 to full 40 full-time employees in only two years.

Scott, it's awesome to have you on the show. Are you ready to speak to the I AM CEO Community?

[restrict paid=”true”]

Scott Smith 1:03

Yeah, let's do it.

Gresham Harkless 1:04

Awesome, awesome, awesome. So the first question I had for you was to hear a little bit more about what I call your CEO story and what led you to start your business.

Scott Smith 1:11

Yeah, so I was actually a law student. In my second year, I bought my first piece of real estate, it was a transmission auto repair shop. So it's my first foray into real estate and my first foray into real business ownership. Now, I've been going cutting lawns and stuff since the time I was a kid, right? And always trying to do, just hustling for those dollars wherever I could grab them, right?

So what we all do, if you're an entrepreneur, you're trying to look like we're gonna pick up that easy money, because getting that nine to five sucks. And everybody knows it, right? So when I jumped into being able to do that, while I was in law school, that gave me my first taste of what does it like to be able to run these businesses and rehab buildings. And I ended up flipping the building and the business out of law school and graduated without any debt, I was the only one in my class to do that, from law school.

So I went to go to litigation after that, assuming insurance companies come to find out that certain insurance companies are really great at accepting their premium payments, but really bad at actually paying out. Alright, so we were suing the hell out of these guys because they don't pay out on valid claims, which is really cool. Except for a fact, it's a really gritty piece of work. And it's like, now I want to get back into real estate.

And so I got back into the real estate investing game, only to find out that everybody in the world actually needed help with so much more than just the real estate, there were the taxes there was the LLC, there's bookkeeping, there was a really what they needed was somebody that comes with a start to finish solution that says you want to invest in real estate, here are all the things you need to do from a legal tax and business perspective.

And I've already mapped them out for you because I already did it for myself. So I was a professional that also knew how to do the business that these people were in. And so then they were like, Oh, this is a natural fit for the client, went on to bigger pockets. And then boom, Royal legal solutions exploded onto a national stage. And now we have clients in all 50 states, over 3000 clients, currently with us now, and now I have a team of about 40 people, which I can tell you is probably the hardest thing I've ever had to do in my life, way harder than being an attorney, being an attorney is easy compared to being a business owner.

Gresham Harkless 3:06

Yeah, absolutely. I can imagine just all the different egos and personalities and different goals and all those things, you making sure that you take care of all that. So I know you touched on a little bit, can you drill a little bit deeper? And tell us exactly what you're doing with where your Legal Solution so that the listeners can understand.

Scott Smith 3:20

Yeah, so what are legal solutions, it's the first time first company of its kind, or law firm, what we're doing is we're looking as a one-stop shop for entrepreneurs, and real estate investors, to sever everybody that comes in and interacts with us, where we can map out for you what your life is gonna look like over the next 20 years, and all of the things that come up. And this is really important for people because the one question we always have when it comes to legal tax and business issues is what is it that I need right now? Right? And that's what we're doing is we're building the roadmap for people, if here's when you're going to need certain things, here's why you're gonna put them in places certain times. And of course, we're going to be able to do that for you.

Because that's the way we make our money, right? But what we're gonna do and what we're built on a foundation for is just like Google, we default to open with all of our information, we give everybody the full playbook of here's what you need to do, why you need to go do it. If you want to have somebody else, go do it, or you want to do it yourself. God bless you go do it, right? A lot of people don't want to do that. And that's when they have us be able to put it all together and that's what led us to our huge growth is that we give away all of the secrets. That's what we're about.

We blow up all the secrets, we give away all the information we're working to make attorneys have to move up the value chain because we're not going to allow people to make money off of just other people that don't know the information, how do I do little things? No, no, we give away all that stuff. So that way everybody now has to perform at a higher level professionally and what we find is those levels, everybody has a better relationship. We have lifelong relationships with our clients.

Gresham Harkless 4:50

Yeah, that makes perfect sense because a lot of times whenever you're a business owner you're starting a business you always want to work is focused on the core of exactly what it is you do so you don't have that one, I have to worry about all those additional things. So it's great to have you guys be able to kind of take on, a lot of those things to provide that playbook and provide all the secrets that everybody wants and is looking for. So now I want to ask you for what I call your secret sauce. And you might have already touched on this, but this is what you feel distinguishes you or your organization.

Scott Smith 5:17

Yeah, the secret sauce is defaulting to open. I read that book, but I forget, it was at Bose Bose by the founders of Google. And it changed the way that I think about what it is that we actually are creating as attorneys and professionals, and my viewpoint on it saying that what's happened before, up until before Royal legal solutions is that attorneys and CPAs knew stuff you didn't.

So then you had to pay him after Royal legal solutions. And what I do here, as I know, we're all gonna get the same playbook of what the information is, and exactly what people need to go do. And now that gives the consumer the customer, the investor, the entrepreneur, all the power to know here's exactly what I need to go do. I don't have to, quote-unquote, just trust some guy, right?

I actually could think through all this, and the secret sauce comes down to actually being able to educate I was a Montessori teacher, actually, before I went to law school. It's like, how do you take really complex subjects, and then break them down in a way that everybody can understand and that they make sense? And it's not just me thinking like, this is where I break it down for a customer makes sense. I break it down to other attorneys, and CPAs because I have to educate them about how things work at the highest level. Because these things don't work. Just one-offs. People think law and business taxes are just one-off little things that you buy, no, the power is in the synergy. When you get everything working together in the right way, you end up with this huge benefit.

And that's what it takes deep knowledge about knowing who your customers are, and what are the challenges they're facing. Do you have the knowledge to break it down? Not just the individual things you need to do? But how do they glue together in a way that they can understand say, okay, cool? Now I actually see what it is you're trying to do at the very highest levels.

And I tell you, what, there's probably only a handful of people in the country that are like me that are actually doing that and teaching that. Yeah, absolutely. Because as you mentioned, you know, being able to say to give the power to the people, so to speak, where you actually have and are empowered to be able to know all that information where usually there are people that charge people for that you have to call me in order to get your whatever taken care of your taxes or your legal entities taken care of.

Gresham Harkless 7:15

So that is awesome that you guys are able to do that. So I wanted to switch gears a little bit and ask you for what I call a CEO hack. And this might be an app or book or habit that you have. But something that makes you more effective and efficient.

Scott Smith 7:27

That workout every day. Every day, you don't give it up you can do six days a week, take one day off, and work out every single day. I've been working on one thing that like actually moves the dial man, that's it like because what it does is reset your mind, it gets you thinking right, get your testosterone up. So you're a lot more confident, and your head is a lot more clear. It's super important for us. There are just all kinds of studies about there, and all just comes down to working out.

And if you're too like beat up to work out or you got injuries or whatever, go sit in the sauna, for 30 minutes in the sauna at super high temperatures, your HGH, your testosterone goes through the roof, and your recovery goes up. So you don't you can be injured and still get all these positive psychological benefits. And what you notice is something that I just talked about with Grant Cardone, last week on

The Real Estate Nerds podcast, which is my show. And we're doing these live shows now like every day with celebrities. I mean, it's incredible. But one of the things that we talked about with him on the show was about saying, what are the things that you're doing? That leads you to their best decision-making. We all know we made mistakes, and we know mistakes we made decisions before in our life, that we said, I know I shouldn't have done that. And I did it anyway, why did I do that? Well, there are things that you're building into your day to say what prepare me to make my best decisions. And for me, one of those things is working out meditating, and journaling. Those are my core foundation. So when I do those things, I know my mind is at a 10 I know my physicality is at a 10 I know my emotional state is at a 10 of where it is I want it to be.

Gresham Harkless 8:50

I love that. And I think it makes perfect sense to be able to f try to vibrate higher as quickly as possible. And to be able to do those hacks like working out journaling. And you said meditating as well, too. I believe those are all great things, that are great CEO hacks. So now I wanted to ask you for what I call a CEO nugget. And this is a word of wisdom or piece of advice. Or if you can happen to a time machine. What would you tell your younger business?

Scott Smith 9:11

Oh, yeah, just relax, relax, and do the next right thing. You can't solve tomorrow's problems today. But what you can do is just relax into it. Do the work you need to get done today and tomorrow will take care of itself.

Gresham Harkless 9:26

Absolutely, yeah, sometimes with there's so many things that are moving on, you can get very overwhelmed. But the important part is just to make sure that you're doing your CEO hacks just like he touched on and then making sure that you're relaxed because that all goes hand in hand. So now I want to ask you my absolute favorite question, which is the definition of what it means to be a CEO. And we're hoping to have different quote-unquote CEOs on the show. So Scott, what does being a CEO mean to you?

Scott Smith 9:49

That actually means being a servant to your people. 100% That's what it really means to me. That's what it is. Every day that I wake up and I got all these people right. What's my job? Right, My job is to serve them and to empower them to get the most out of what they can possibly do for me, which means that I'm also at the top of the food chain, I'm also at the very bottom, it means that I'm here given directions and orders of saying, this is where I need things to go, guys.

And here's the clarity of the vision, I need to execute over there. And the next moment could be somebody's crying on my shoulder about something that's happening that ain't working for him. And I got to counsel them through that because they need me, it's very much into that same zone, we're at the top and the bottom all at the same time. And you think you can make people do stuff they don't want to do, you're just frickin fooling yourself, because that's not what real life works.

Gresham Harkless 10:39

Exactly. It's very short-lived if you think you're going to do that. But what's the quote that goes, if you help enough people get what they want, you can get what you want. So that makes perfect sense, right in alignment with the top and the bottom of the food chain, as you talked about, so cool. Well, Scott, I truly appreciate your time, what I wanted to do was pass the mic so to speak, just to see if there's anything additional, you want to let our readers and our listeners know, and then of course, how best they can get ahold of you.

Scott Smith 11:02

Yeah, so one of the coolest things that we're doing right now at Royal legal solutions is that every single member of the firm is going to receive a free anonymous LLC. I mean, these are top-tier companies that be able to protect your assets, protect your wealth, protect your credit score, if you're in business for yourself, and be able to do that. We have this all part of every single member that comes in.

So it's not just for the free LLC, but you're the people who get live access to be able to talk to our guests directly, like Grant Cardone, and meet celebrities to get access to our dealer network. They get wholesale pricing on 1000s of different legal products. That is cheaper than Legal Zoom cheaper than Rocket Lawyer, once they're a member, they get access to our form database to be able to get the legal forms that they need every single month, and it only costs 49 bucks and you get in there's a tonne more things that you get for free like in there, as well as security and information audits and screening to find out what is your public information that's out there.

But that's what we're doing like right now. And that's what I'm super excited about in our new offerings from there, and you can get it by just going to Royallegalsolutions.com/free LLC, it's royal legal solutions.com/free LLC, or call us at 512-757-3994.

Seriously, for LLCs. I've been talking about even paying the filing fees for people because we're on a mission to get every single person protected and get everybody moving in the right direction of what they need to in an affordable way. Because at the end of the day, the more people that we can get active, the more people we can get moving, the more people we can get off the ground taking action to build our businesses, the healthier we all are as a country as a people and just as a community.

Gresham Harkless 12:32

Absolutely, absolutely. And I love that mission and we'll make sure to have that link and that information in the show notes as well so that people can follow up with you and hear about all the awesome things you're doing and of course get their free LLC. So Scott appreciates your time. I hope you have a phenomenal rest of the day.

Scott Smith 12:48

Yeah man I'm good everybody royallegalsolutions.com/free LLC go into the show notes and grab it today.

Gresham Harkless 12:53

Awesome.

Outro 12:55

Thank you for listening to the I AM CEO Podcast powered by Blue 16 Media. Tune in next time and visit us at iamceo.co I AM CEO is not just a phrase, it's a community. Be sure to follow us on social media and subscribe to our podcast on iTunes Google Play and everywhere you listen to podcasts, SUBSCRIBE, and leave us a five-star rating grab CEO gear at www.ceogear.co. This has been the I AM CEO Podcast with Gresham Harkless. Thank you for listening.

[/restrict]