IAM1988 – Lawyer Turned Entrepreneur Helps Businesses File Their Business

Transcription:

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Deborah Sweeney Teaser 00:00

A lot of times when business owners are going into business, they might be looking for an online service, but they're also looking for guidance. And so we cannot get legal advice per se, but we try to give them as much guidance about the process, what to expect, how to get started and how to manage the business over the long term.

Intro 00:17

Are you ready to hear business stories and learn effective ways to build relationships, generate sales, and level up your business from awesome CEOs, entrepreneurs, and founders without listening to a long, long, long interview?

If so, you've come to the right place. Gresh values your time and is ready to share with you the valuable info you're in search of. This is the I am CEO podcast.

Gresham Harkless 00:45

Hello. Hello. Hello. This is Gresh from the I Am CEO podcast, and I have a very special guest on the show today. I have Deborah Sweeney from MyCorporation.Com. Deborah, it's awesome to have you on the show.

Deborah Sweeney 00:55

Gresham, thanks so much for having me. It's my pleasure.

Gresham Harkless 00:58

No problem. I'm happy to have you on the show. And what I wanted to do was read a little bit about Debra so you can learn a little bit about all the awesome things that she's doing.

Deborah Sweeney is a lawyer turned entrepreneur who runs a legal filing business, mycorporation.com, which she acquired out of Intuit. She has successfully grown mycorporation.com by focusing on top-notch customer service and long-time customer value.

Deborah, are you ready to speak to the I Am CEO community?

Deborah Sweeney 01:24

I am ready.

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Gresham Harkless 01:25

Awesome. Awesome. Awesome. What I wanted to do was give you the mic, so to speak for the first question to see if you can tell us a little bit more about your CEO story and what kind of led you to start your business.

Deborah Sweeney 01:33

Sure. So I was running the business, the business I now own as a part of into it as the general manager of the division. And it was 2009. The economy was faltering a bit and I had seen smaller divisions within into it be divested or closed. And so around that time, I presented to the Intuit leadership that I was interested in buying the business if they were ever interested in selling it just to say to put it in their minds, but not thinking that actually it might come true.

So then there were other possible buyers, and I was fortunate enough to, demonstrate the ability to continue to run the business to maintain the business for the employees and the shareholders and to spin the business out. So we have been successfully growing the business outside for the last almost nine years.

So I've been successful in the sense that I didn't become an entrepreneur necessarily with a mindset of becoming an entrepreneur. I'm a lawyer by trade, as you mentioned, but it was a neat change of pace for me and it was perfect and I've enjoyed every bit of it.

Gresham Harkless 02:31

Awesome. Awesome. Awesome. Yeah, it's funny. Sometimes you don't expect things to happen once you put it out into the universe. Like you said, you just say what it is that you're hoping to happen. It's sometimes always happens, catches us off guard.

Deborah Sweeney 02:42

Right? Sometimes you have to be careful with what you wish for.

Gresham Harkless 02:46

Our words are very, very, very powerful. So awesome. Awesome. Awesome. So I wanted to hear a little bit more about what you're doing at my corporation. com. Could you tell us, take us through like some of the products and services that you have for entrepreneurs and business owners?

Deborah Sweeney 02:58

Absolutely. So if you're new business owner or your business owner that's done this many times, you know that there's a part of starting a business where you have to incorporate or form an LLC with the state level, often the state in which you're doing business, other often business licenses, DBAs and filings that need to be taken care of.

And so what we try to do is to take that burden off of the hands of the entrepreneurs and business owners and take it into our own hands, making sure that they not only file in a timely manner for their business, new startup, but also that they maintain their corporation in good standing for the long term lifetime of their business.

So we try not to just be a transaction-based company, but to really, as you mentioned earlier, focus on the lifetime value. How can we provide value for a business as they're growing foreign qualifying outside of their home state, getting into new businesses, filing for trademarks or copyrights, taking on Employees opening payroll and needing state I.D. Filing says Sue ease withholding filings to qualify the state.

So all of those are things that we help business owners with. And oftentimes there are business owner questions just about running a business. And so we also try to be an information-based company where they can come and help get answers about not just the legal nuances, but the practical pieces of running and maintaining a business.

Gresham Harkless 04:08

Yeah, absolutely. You've done a phenomenal job of answering a ton of questions that we have on our CEO roundup. So I definitely appreciate you for that and appreciate all the information that you've given to anybody that might be going through some of our blogs and looking for information on the practical size of actually running a business.

Deborah Sweeney 04:24

It's fun, right? It's fun to not just think about selling a product, but also offering value to customers and business owners and entrepreneurs. And they often have questions, the same questions I have. So it's fun to share my experience both in the corporate world, in the legal world, and then also in the entrepreneurial world.

It's a needed opportunity to have that experience and share what I know.

Gresham Harkless 04:43

Absolutely.

Deborah Sweeney 04:43

And often what I don't know.

Gresham Harkless 04:45

Yes. Which is always can always be a lot for a lot of us. So that's why we're always leaning on experts like yourself to be able to know, at least not know what we don't know, but at least know who we can ask if we need to know an answer to a specific question so that.

Deborah Sweeney 04:58

Sure.

Gresham Harkless 04:58

So I wanted to ask a little bit more about your organization, your company what do you feel is unique about mycorporation.com? What is, what is your kind of differentiator?

Deborah Sweeney 05:06

I really believe that you mentioned earlier in my intro that it's our customer services that keeps us unique and in an industry that's semi-commoditized.

There are so many providers that do incorporations and LLC filings. Our focus is really on building relationships with our clients. So what makes us special is our team. We listen, we pay attention to what you need. We work with many large companies that use us as their back end. So sometimes the clients or entrepreneurs may not even know who's doing it behind the scenes.

And so our goal is to really create a relationship with our partners and our customers in order to make sure we're filling that need for them. So what makes us really different is we listen. We want to know what they don't know. We want to try to answer those questions and we want to try to be a great resource.

We also focus on the automation technology and tools. But truthfully, A lot of times when business owners are going into business, they might be looking for an online service, but they're also looking for guidance. And so we cannot get legal advice per se, but we try to give them as much guidance about the process, what to expect, how to get started and how to manage the business over the long term, what the filing deadlines are, what the requirements are.

So really being a good translator from the state and business nuances to how a business can practically just make sure they're in good standing.

Gresham Harkless 06:18

Yeah, that makes perfect sense. And I think being able to couple both of those things together where you, you provide that listening ear, but also are able to bribe the kind of like the technology aspect of it, because, you can go online and do and find information that you guys provide on your website.

I think that's huge because it's such a scary thing to start a business. Sometimes you need to have that conversation with somebody and have that listening ear. So, that you are making the right decision. So it's awesome that you guys focus on that.

Deborah Sweeney 06:42

Yeah, absolutely.

Gresham Harkless 06:43

And one of the next things that I wanted to ask you was basically for a CEO hack. And this might be like a resource or a book or something that you use or can lean on on every everyday basis that you feel like makes you more effective and efficient as a business owner.

Deborah Sweeney 06:57

I am. I know it's not. Something novel, but I am a focused person when it comes to organizing my calendar to being really strategic about how I manage my days.

Because sometimes when you're running a business, your days can get away from you and you don't recognize what you've done and you don't meet any of your goals. And so I focus on, it sounds silly, but my outlook, I create an agenda. I even create a calendar for an item for, respond to email for do particular items when I write or I do write content or work with my team.

So I schedule them very strategically so that, for example, my team members may have questions and everyone always pops in and I sit out on the floor with the team anyway. So people are always asking me questions on any given day. But if they see on the calendar that they have a meeting with me tomorrow, then it's perfect.

They organize it toward that. So I would say my CEO hack is really about staying structured and organized, certainly knowing that variables as a business owner come in all day long, but to be as organized in your calendar and how you spend your time at work rather than letting your work day manage you.

Gresham Harkless 08:03

I love that. I love that. Yeah, I think that's a, it's a small thing, but it's a huge thing because I always say to myself control what you can control and being able to manage and kind of map out your schedule and understanding that the team members can also understand when they can talk to you is huge because it helps you be more efficient and effective.

So I think that's a phenomenal hack. The next thing I wanted to ask you was for a CEO nugget, which might be like a word of wisdom or a piece of advice that you might have for other entrepreneurs and CEOs.

Deborah Sweeney 08:28

Okay, so I think I look back on how I got this business out of into it and how the whole deal happened and how I run the business I run today.

And I really believe that maybe it sounds childish, but I believe in kindness. I think that people respect you when you, you have your mind, you are organized and structured, but on top of it all, you're kind. And I believe that that's created an environment for my own Business that has led to my success.

So I would say a lot of times in a world where entrepreneurship is dog, eat dog and beat the competition and hear what they're doing and try to win up and keep your employees in line and that kind of mindset. I really believe in listening to others, forging my own path, but also really spending my days treating people, right?

So whether it's treating customers treating our employees right, and I think it's not just completely altruistic, right? I, I don't, I don't just do it necessarily because I'm a good person, but also because it serves me well to, to be kind to others. And what ends up happening is comes back to me.

So I think that it works out. In a holistic way, and at the risk of sounding corny in an industry that is commoditized like ours, when you show that large businesses, small businesses, employees, customers, and clients all recognize it. And I think that's how you can be a differentiator and really have my nugget of wisdom because it, it really does make a difference in life and in business.

Gresham Harkless 09:53

Yeah, that definitely makes perfect sense. Like we were talking about like energy that you're putting out or things that you're putting out. I'm understanding that that can come back, maybe not in the same exact person, but maybe someplace else or even, understanding like how small the world and especially the business world is where sometimes people do talk and people do know one another.

And if you have that reputation, if you have been putting out good five, so to speak, then all of a sudden things start to build upon each other.

Deborah Sweeney 10:15

I believe it. And it's not overnight, right? It's that it's who you are. It's committing to being a person of good standing. And I think you're 100 percent right about the community.

I hear it all the time. Oh, we've heard good things about your business. I think a lot of people say, oh, I've just heard of your competitor, and I think, oh, okay. And then when they hear of us, they hear good things.

And I'm so happy to hear that versus just knowing that they exist as a general matter, but really feeling like we're a company that's upstanding, that serves well to entrepreneurs throughout the U. S. And really at. focusing on that. I love to hear that more than I love to hear. Just I know what your company does.

Gresham Harkless 10:49

I love that. Yeah, make sure you know you're the company on a different level. So that makes perfect sense. And now I wanted to ask you kind of like what your definition of being a CEO and one of the things that we get to do on this podcast is as CEOs in different walks of life, so to speak, people that have, huge, huge teams and people that might be just starting up their organization.

So I guess for you, what does being a CEO mean to you?

Deborah Sweeney 11:12

I think it's about providing leadership in the true sense of the word right about not just doing everything myself about not being a dictator and mandating what I need, but about making my team better.

We recently had a sales expert come in and really the team was so scared. What are they going to say? What are they going to do? And I thought it's just about learning. And I think if you can be a good leader and help your team learn and grow, then everybody is going to be better for it.

So I would say that being a CEO is really about being a leader in the type of vein that be led and wanting to get table and to have a great attitude your customers the way you would treat them I think that all makes a difference, I think people always make a joke that we have so much fun in our company, silly games in the afternoons and we have talent shows do a lot of Play loud music when we pass out paychecks or whatever, and people were like, how do you do your, does your team work?

And I think, I have to work here too. And so I wanna be the kind of CEO that enjoys going into work myself and working with people who are happy to be here. And I think that that is what makes a difference.

Being the kind of person for whom you would wanna work, but also being a leader, getting your team to think for themselves and do for themselves, and be strategic so that again, it helps your business continue to grow.

Gresham Harkless 12:26

That's awesome. And that's phenomenal. Yeah, it's a quick question you can always ask. We can always ask ourselves as CEOs, would you want to work for yourself? And then the answer is, maybe you want to make some tweaks or switches to what it is that you're doing. But if the answer is yes, then yeah, that's definitely something awesome that you're, you're doing.

And it sounds like, you're creating a phenomenal company culture. So that's awesome.

Deborah Sweeney 12:44

I try. I'm sure I have fails. I have fails, but anyway.

Gresham Harkless 12:48

We all do. We all do. So, it's awesome, Deborah. I appreciate you for taking some time out of your schedule. What I wanted to do was just give you the floor, so to speak, and see if there's anything additional you want to tell us as far as like pieces of advice, words of wisdoms, or anything additional about My Corporation that we can take on.

Deborah Sweeney 13:04

Sure. I think in general, when entrepreneurs and business owners are getting Started, I know you talked to a lot of businesses that have been in business for a long time and know and know the drill, but I think for those startups out there, one thing to keep in mind is really separating your personal assets from your business.

Protecting yourself, forming a corporation or LLC is a really smart idea, and I think a lot of business owners and entrepreneurs think they have to meet a certain threshold or they have to make a certain amount of money, or they have to be a certain level of sophistication.

And the truth is that protection, the tax savings can exist no matter what size business you have. And so really being aware of that and knowing that you don't, it's not as complicated as it seems. I think the mystique, and I'm a lawyer, so I know that, sometimes there's this mystique to the legal filings and the act of creating and forming a business.

But the truth is that it really doesn't have to be as complicated as a business owner or entrepreneur would think. There is help out there. First of all, there's tons of information, but also that the process itself, once you get started, is not super complicated.

So I think just thinking strategically for yourself, especially if you have business partners, if you have investors being mindful about how to properly structure your business and get off to the right start.

So say that would be my words of wisdom. It's not as complicated to think you should do it right from the beginning and grow right into your business in a successful way, saving on taxes and making smart business decisions. Those are my parting words.

Gresham Harkless 14:23

Awesome. Awesome. Awesome. And one final thing I wanted to ask if somebody is listening to this and they want to follow up with you and learn more about everything.

All the awesome things that you're doing. What's the best way for them to get a hold of you?

Deborah Sweeney 14:32

I'm really active on Twitter. So @DeborahSweeney or at my corporation, I'm also great to have people email me. It's DSweeney@mycorporation. And I'm thrilled. I respond to emails. I respond to Twitter.

There are questions you have just general business questions. All of our team members here are happy. You can give us a test if my word is true that we are really focused on great customer service. So feel free to give us a call to I don't know if you want my our phone number, but it's 8776926772. And that's our toll-free number. Call anytime.

Gresham Harkless 15:01

Awesome. Awesome. We'll have those contact information in the show notes, just in case anybody wants to follow up, but Deborah, thank you so much again. And I appreciate all the awesome things that you're doing.

Deborah Sweeney 15:11

It's my pleasure. Thanks for having me. It's been fun.

Outro 15:13

Thank you for listening to the I Am CEO podcast powered by CB Nation and 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.

Want to level up your business even more? Read blogs, listen to podcasts, and watch videos at cbnation. co. Also, check out our I Am CEO Facebook group.

This has been the I Am CEO podcast with Gresham Harkless Jr. Thank you for listening.

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