WEBVTT

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Welcome to Networking Unleashed, Building Profitable

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Connections, the show where smart conversations

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protect your business and help it grow. I'm your

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host, Michael Forman, and today we're tackling

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a side of networking most people ignore until

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it costs them. We all love making, we're all

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talking about connections, collaborations, and

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opportunities, but what happens after the handshake?

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what's real, what's risky, and what actually

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needs to be in place when relationships start

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turning into revenue. My guest today lives at

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the crossroads of law, business, and AI. He helps

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entrepreneurs, startups, and growing companies

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build relationships the right way without stepping

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into legal landmines or misusing powerful tools

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like AI. If you're building partnerships, Using

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AI in your business or networking your way into

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your next opportunity, this episode will help

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you connect smarter, move faster, and protect

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what you're building. I'd like to welcome to

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the podcast, Matthew. Matthew, I really am excited

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for this podcast because I'm very interested

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in what you have to say. Would you mind introducing

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yourself and how you got here today? Sure. Thank

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you for having me, Michael. My name is Matthew

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Finaro. I'm a business law attorney. I'm in Coral

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Springs, Florida. I've been an attorney for 23

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years. My practice focuses on helping small businesses,

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entrepreneurs, and startups with their various

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legal issues, whether it's litigation or transaction.

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I got into this space by starting out when I

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was practicing law. I started out working for

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a boutique firm and then two Amla 200 law firms

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and I focused on predominantly commercial litigation,

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working for big companies, banks and insurance

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companies. And then about 11 years ago, I had

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the opportunity to work for an even bigger law

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firm or pivot and do something else. So I went

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through a lot of thought and internal soul searching,

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spoke to my wife, spoke to my family. And I decided

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that I wanted to go out and start my own law

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firm. And then I figured out in what my mantra

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or my focus would be helping the small businesses

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that I felt were underserved by bigger law firms

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and underserved by local law firms here out in

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the suburbs and non -metro areas. So that's how

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I decided to focus on helping small businesses,

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entrepreneurs and startups. And that's what I've

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been doing for the last 11 years. What I am here

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today for. That sounds great. It sounds the typical

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attorney. I worked for an attorney for about

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four or five years. I was a director of sales

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and marketing and brought them from a single.

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Single shop to four states twice. I've seen the

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growth, but I also saw how the small businesses.

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The attorneys really didn't react to or really

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didn't want. to go behind because I don't know

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if there was enough money or whatever the case

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may be, but these were left out in the loop.

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So I'm very interested to have you on and see

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what you're all about. From a legal standpoint,

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what are the most common mistakes entrepreneurs

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make when forming partnerships or collaborations

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through networking? Sure, the common mistakes,

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a pretty common mistake. The entrepreneurs or

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the business people, the founders, whatever you

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want to call them, are always very eager to get

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into business and want to start their business

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and do a good job and everything. So they overstep

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and step past some very basic steps to just get

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into business and start doing business. So what

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they miss out on is they don't do a written business

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plan. Before they even start their business which

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is a necessity in the written business plan tells

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you all about what your business is going to

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be what kind of structure is going to be who

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what when where why how about your business how

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you gonna spend money make money hire people

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fire people bring on people. Get rid of people

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lease property habit website all that stuff is

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in your business plan on people just skip over

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that step then the next step they skip over.

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is the next set of documents and papers that

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you need are your governing documents for your

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business organization. And this will also get

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into step three of what a lot of people miss

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out on is that people are so excited to get into

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business and start up that they just go, for

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instance, I'm here in Florida, you can go online

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to our secretary of state website and just kind

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of mess around and register your business like

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within five minutes and then. It gets approved

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like a couple of business days later and it's

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official and they think that's all that's required.

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So they don't really draft or have the operating

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agreement. If it's an LLC, the partnership agreement,

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if it's a partnership, the articles have been

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corporation or the bylaws. If it's a corporation,

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they just go online. They're like, Hey, the state

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took it. I'm in business. And so that's the second

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thing they miss is all those governing documents.

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And the third thing they miss that kind of ties

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back into. The first two is that. They miss collaborating

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with professionals who are there to help their

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business from before the start of the business

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to the life of the residence and that includes

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people like myself as a business law attorney

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an accountant commercial banker. You know depending

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on what your business is like a commercial real

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estate agent or someone who's into SEO or internet

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stuff or technology stuff. So they try to take

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on the entrepreneur, the founder, whatever, tries

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to take on too much responsibility to themselves

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and don't understand that it's a necessity, not

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a luxury to have your group of professionals

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who call upon for their advice in their council

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to help you out. And they just try to do everything

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themselves and they do everything with whoever

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they're in business with. And they try to do

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their best, but sometimes they make mistakes.

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And it starts even before they start up, they

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pick the wrong business organization and they

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pick the wrong, wrong contracts to enter into

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or whatever, the wrong lease to enter into, the

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wrong services agreement to enter into. And then

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they have all the best intentions and everything,

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but they're on the road to things not turning

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out well because they took a few missteps at

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the beginning. And that's probably the three

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biggest areas in common. are the three most common

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areas of mistakes that businesses make in their

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startup cycle. It sounds, if you follow what

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you just said and you don't be penny wise, dollar

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foolish, you should really just, I've been in

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multiple businesses. I've had brick and mortar

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businesses. I've had virtual businesses. I've

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been the employee while I've had businesses.

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And I learned early on. get yourself a good attorney,

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get yourself a good accountant, get a business

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plan in place, and then start your business.

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So you have to get all those. So you have to

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pay a little bit to get in the right sphere,

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but you'll be thankful for it every year afterwards.

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Correct. And it's not just preventative maintenance.

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It's necessary because Little things that you

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can do at the inception are very preventative

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and proactive that prevent catastrophic huge

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issues from happening later on in your business,

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whether your business is successful or it's unsuccessful.

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You need all those steps and you need to interact

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with those professionals and stuff to avoid future

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issues, whether you're successful or not, because

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issues are going to arise. As I have found out

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multiple times, so I understand that completely.

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When business relationships move fast, where

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do you see handshake agreements quietly turning

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into legal problems later on? The issue is that

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any handshake agreement can turn into a legal

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problem, not just fast, slow, medium. It just

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happens over time. So everyone who goes into

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business obviously has the best intentions and

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wants to succeed. Everyone who goes into business

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with someone or something else obviously wants

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the best and wants to succeed. But sometimes

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things happen, whether it's good things or bad

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things, adversity hits your business and your

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handshake isn't going to cut it when you're faced

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with a lawsuit, when you're faced with like an

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IRS investigation issue, whether you're faced

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with some kind of EEOC employment claim or something

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like that. All of a sudden, the person who you're

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a buddy with or whatever in your business, all

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of a sudden, there's cracks in the relationship,

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there's issues that can happen. So you always

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want to reduce your relationship with anyone

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or anything in business into writing in the form

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of a contract, no matter how In substantial you

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think it is it has to be in writing because if

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it's not in writing it doesn't exist and it's

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he said she said at that point and Your memory

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and their memory are going to be different particularly

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when there's liability involved or when you're

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apportioning fault So that's why you know, even

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though you start out with the best of intentions.

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You don't want to have adversity You don't want

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to fail. You don't want things for everyone's

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protection, for your protection, for the other

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person's protection, and then most of it only

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for the business's protection, you want to have

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a contract that's in writing, that's clear, that

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says what the relationships between the parties

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are, how everything happens, and if there's a

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dispute, what happens. Yeah, I usually, when

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I went into a contract with a friend of mine,

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we wrote the contract out, we put it in the safe,

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and we left it there. until there's a problem.

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Then we can always refer back to it. But I always

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felt that the best thing was to put everything

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on paper and we can put it away, put it to safe.

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We don't have to look at it again, but put it

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all on paper in case anything should happen.

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So that's the way that I always thought about

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it. How should entrepreneurs think differently

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about trust in networking while protecting themselves

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legally? But it goes back to a little bit of

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what I just said. You want to make sure everything's

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in writing. So when you're networking with people

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and they want to either build business relationships

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with them or referral relationships or whatever,

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you want to make sure that if it's a official

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legal relationship, you have it in writing. So

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if you're networking with someone and you want

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to use them as a vendor or you want them to use

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your services or your products, if it's... Official

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relationships you want to make sure you have

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a contract with just a networking kind of relationship

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or relationship. You're fine just doing course

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of business but make sure that if you're. Doing

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something where it's like you get a referral

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fee or your co fees is like a co party or whatever

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that needs to be in writing because. Again, if

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it's not in writing, it doesn't exist. So it's,

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he said, she said, so you just want to make sure

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when you're networking or you're developing your

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business that it goes back. If you're in a business

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relationship, you want to make sure it's in writing

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so that there's no discrepancies and there's

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no dispute as to what people are supposed to

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do or what businesses are supposed to do, not

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do, and then how things are resolved if there

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is an issue. Absolutely. Absolutely. What legal

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conversation should happen early in a relationship,

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even when everyone feels aligned and optimistic?

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Sure. You got to talk about what, you know, you

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got to talk about the foundation of your business,

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the direction of your business, how it's going

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to run. It's all the things that go, that start

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out in your written business plan. You need to

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have discussions about everything that's in there

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so that you have a cohesive written business

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plan and then when you go to the next step. Make

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sure that you have a cohesive set of governing

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documents for your business once it started and

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then make sure when you go to the next step,

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you have your open and very transparent and honest

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conversations. with your professionals who help

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you to figure out what the best legal structure

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is, what contracts you need, what agreements

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you need. And then on the tax side, what business

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organization you should be from a tax perspective,

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because if you're one kind of organization, you

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should have been another, you're going to get

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killed on your taxes. And then from a banking

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perspective, what kind, do you need to borrow

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money? Do you have money? Who's contributing

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money? How are they going to contribute money?

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Are you going to have a checking account? Are

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you going to have a merchant services account?

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What are you going to do with it? So those are

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all conversations that need to take place even

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before the foundation of your business, but especially

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during the foundation of your business, because

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it's going to dictate how things turn out afterwards.

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Absolutely. Absolutely. As you're speaking, I'm

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just thinking back of all the businesses and

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the partners and all the documents that I had,

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I was safe. filled with documents, and each one

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was from a different business, from a different

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year. I understand everything that you're saying.

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AI is changing how professionals connect. What

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new legal risks are emerging from AI -driven

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outreach, contracts, and communication? Sure.

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So, you know, one of the things with AI is I'm

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very into AI, both in the practice of law and

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the actual running and development of my business.

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But the first thing I always say is that I'm

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in charge. The buck stops with me. I'm at the

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top of the pyramid, whatever metaphor you want

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to use. I make sure that I review that and approve

00:15:03.539 --> 00:15:07.799
every single AI created thing. that is attributed

00:15:07.799 --> 00:15:12.159
to my business. And that's what the main issue

00:15:12.159 --> 00:15:15.360
is with AI is that people just take it for face

00:15:15.360 --> 00:15:18.980
value and put it out there without properly vetting

00:15:18.980 --> 00:15:23.080
it or properly researching it or properly making

00:15:23.080 --> 00:15:25.279
sure that it's correct because they just think

00:15:25.279 --> 00:15:27.879
that AI is probably correct. And then that's

00:15:27.879 --> 00:15:32.360
where people in businesses get into huge issues.

00:15:32.940 --> 00:15:35.799
And I can tell you from a legal standpoint, from

00:15:35.799 --> 00:15:39.559
an attorney standpoint, there's a lot of attorneys

00:15:39.559 --> 00:15:43.220
who just go with the flow and use AI for legal

00:15:43.220 --> 00:15:46.659
research or legal drafting. And they don't do

00:15:46.659 --> 00:15:49.659
it responsibly. They don't review the work product.

00:15:49.779 --> 00:15:52.740
They don't confirm the case in a rule of citations

00:15:52.740 --> 00:15:56.200
and law citations. They just take it and throw

00:15:56.200 --> 00:16:00.129
it out there. And they get in major trouble in

00:16:00.129 --> 00:16:02.889
litigation, they can trouble with courts, with

00:16:02.889 --> 00:16:05.830
bar associations and things like that. And then

00:16:05.830 --> 00:16:09.090
with other parties or other clients or whatever,

00:16:09.269 --> 00:16:11.970
the work products, if it's like from a transactional

00:16:11.970 --> 00:16:13.970
standpoint, may not be correct. And they're going

00:16:13.970 --> 00:16:17.629
to get major issues from that point. For lay

00:16:17.629 --> 00:16:19.909
people, let's say, just the average business

00:16:19.909 --> 00:16:23.710
person or whatever, it's just like the same issues

00:16:23.710 --> 00:16:29.759
when you for the last 25, 26 now plus years of

00:16:29.759 --> 00:16:31.980
just using Google, doing a Google search, looking

00:16:31.980 --> 00:16:34.360
for a document. You're gonna find a document,

00:16:34.379 --> 00:16:36.340
but you don't know if it's right or wrong or

00:16:36.340 --> 00:16:38.500
if it's correct or incorrect or if it applies

00:16:38.500 --> 00:16:41.500
or not, because you're not the subject matter

00:16:41.500 --> 00:16:43.940
expert. You're just the lay person who's taking

00:16:43.940 --> 00:16:47.220
what you found on the internet. And all AI does

00:16:47.220 --> 00:16:50.320
is takes that to another level and another crescendo

00:16:50.320 --> 00:16:54.679
of A much more refined cohesive product that

00:16:54.679 --> 00:16:56.799
you pull off of the internet that you don't know

00:16:56.799 --> 00:16:59.580
if it's right or wrong or if it applies or not

00:16:59.580 --> 00:17:03.299
or what the consequences are. And business people

00:17:03.299 --> 00:17:05.559
just throw around contracts that they get off

00:17:05.559 --> 00:17:07.819
AI business people throw out research that they

00:17:07.819 --> 00:17:10.640
get off of AI because I guess. They're trying

00:17:10.640 --> 00:17:13.180
to do it yourself and save money or save time

00:17:13.180 --> 00:17:15.180
and the issue is is just like with everything

00:17:15.180 --> 00:17:18.710
else you get what you pay for. and you're putting

00:17:18.710 --> 00:17:21.190
out material that could be right or could be

00:17:21.190 --> 00:17:24.009
wrong. And if it's right, great, you dodged a

00:17:24.009 --> 00:17:27.009
bullet, but if it's wrong, it's gonna be catastrophic

00:17:27.009 --> 00:17:29.390
because there's major consequences if you're

00:17:29.390 --> 00:17:31.970
putting out a contract there that, you know,

00:17:32.150 --> 00:17:34.710
doesn't have what it needs in it or actually

00:17:34.710 --> 00:17:38.490
has the wrong stuff in it, or material like soliciting

00:17:38.490 --> 00:17:40.589
material, whatever, just you don't know what's

00:17:40.589 --> 00:17:42.369
right or wrong because you don't know what you

00:17:42.369 --> 00:17:46.029
don't know. So obviously AI is probably the most

00:17:46.250 --> 00:17:49.130
significant technological change to come along,

00:17:49.490 --> 00:17:51.930
maybe ever, who knows at this point, because

00:17:51.930 --> 00:17:55.789
it's limitless potential, limitless productivity,

00:17:56.170 --> 00:17:58.890
limitless time saving, limitless force multiplier.

00:17:59.369 --> 00:18:01.789
But with anything, you have to take responsibility

00:18:01.789 --> 00:18:04.089
and ownership of it. And a lot of entrepreneurs,

00:18:04.230 --> 00:18:06.150
a lot of business owners, whenever, like I said,

00:18:06.529 --> 00:18:08.710
are just throwing stuff out there that they get

00:18:08.710 --> 00:18:12.369
from various AI platforms, not just general platforms

00:18:12.369 --> 00:18:16.140
like ChatGBT or something like that, but specialized

00:18:16.140 --> 00:18:19.859
platforms too, that they don't know what they're

00:18:19.859 --> 00:18:23.700
putting out there. So obviously I encourage people

00:18:23.700 --> 00:18:27.839
to use AI. It's a godsend as far as running your

00:18:27.839 --> 00:18:30.140
business and doing things. They can do things

00:18:30.140 --> 00:18:32.480
that are just revolutionary, that are time saving,

00:18:32.619 --> 00:18:36.720
that are resource optimizing and force multiplying

00:18:36.720 --> 00:18:39.700
and all those cliches or metaphors you want to

00:18:39.700 --> 00:18:41.839
use. But you have to make sure that you take

00:18:41.839 --> 00:18:45.519
responsibility and ownership over it. because

00:18:45.519 --> 00:18:47.380
you're responsible for what you're putting out

00:18:47.380 --> 00:18:49.400
there. Whether the AI made it or not, it's your

00:18:49.400 --> 00:18:51.200
name on it and it's your thing and it applies

00:18:51.200 --> 00:18:54.299
to all industries. I encourage people to use

00:18:54.299 --> 00:18:56.859
AI. I just encourage people to use it responsibly,

00:18:57.039 --> 00:18:58.559
which is what the issue is that people aren't

00:18:58.559 --> 00:19:00.819
using it responsibly. They just take it for face

00:19:00.819 --> 00:19:04.519
value and put it out there. They always said

00:19:04.519 --> 00:19:07.980
that everything that's online, if it's online,

00:19:08.119 --> 00:19:11.309
it must be true. Right? Because everything online

00:19:11.309 --> 00:19:14.690
is factual. It's 100 % correct. Now you and I

00:19:14.690 --> 00:19:17.890
both know that's not true and that you really

00:19:17.890 --> 00:19:22.190
have to be careful what you read online. But

00:19:22.190 --> 00:19:27.029
chat GPT takes all of its information from online.

00:19:27.589 --> 00:19:30.950
Right? So it brings all this information together

00:19:30.950 --> 00:19:34.269
for you, but it may be putting together something

00:19:34.269 --> 00:19:38.430
that is erroneous. So it may save you time in

00:19:39.000 --> 00:19:41.880
collecting all this information, but you have

00:19:41.880 --> 00:19:45.000
to do your due diligence and you have to trust

00:19:45.000 --> 00:19:47.900
it, but verify everything that's in there. So

00:19:47.900 --> 00:19:50.920
you're not back to square one because you got

00:19:50.920 --> 00:19:54.740
all the information, but you have to verify everything

00:19:54.740 --> 00:19:57.980
that you get. Correct. And then also another

00:19:57.980 --> 00:20:00.359
thing with the AI is that it's biased because

00:20:00.359 --> 00:20:03.259
it wants to get you the right answer. It wants

00:20:03.259 --> 00:20:05.380
to get you what you're looking for. So it's going

00:20:05.380 --> 00:20:09.299
to try to engineer the data and the information

00:20:09.299 --> 00:20:11.500
it gets to make it appear like it's what you

00:20:11.500 --> 00:20:15.059
want. And there's a big, not just misinformation

00:20:15.059 --> 00:20:17.859
issue, but there's a big bias issue because if

00:20:17.859 --> 00:20:21.200
you frame your prompts in a certain way, you

00:20:21.200 --> 00:20:23.559
can essentially get whatever answer you're looking

00:20:23.559 --> 00:20:26.319
for because it'll find exceptions or it'll find

00:20:26.319 --> 00:20:28.500
whatever, and then it'll frame it as something

00:20:28.500 --> 00:20:31.119
that stands for something that's not the actual

00:20:31.119 --> 00:20:34.319
proposition. So another big thing about AI that

00:20:34.319 --> 00:20:37.500
I should have mentioned is that the prompts that

00:20:37.500 --> 00:20:39.380
you generate are probably the most important

00:20:39.380 --> 00:20:42.059
thing that you can do because it establishes

00:20:42.059 --> 00:20:44.660
your guardrails and establishes what goes on

00:20:44.660 --> 00:20:48.299
with the AI. Absolutely. I was going to bring

00:20:48.299 --> 00:20:50.900
it up because you didn't bring it up until the

00:20:50.900 --> 00:20:54.380
very end. I was going to say garbage in is garbage

00:20:54.380 --> 00:20:57.559
out. You have to really put your prompts together

00:20:57.559 --> 00:21:01.299
properly. What it takes to put the prompts together,

00:21:01.759 --> 00:21:05.740
you may ask a question. depending on the answer,

00:21:05.900 --> 00:21:09.819
you'll have to revise that prompt like two, three,

00:21:09.900 --> 00:21:13.779
four times until you get to the, what you're

00:21:13.779 --> 00:21:17.140
actually after. So you have to really have to

00:21:17.140 --> 00:21:20.400
drill down and figure out, you can't just talk

00:21:20.400 --> 00:21:22.960
about emails. He has a make my email better.

00:21:23.460 --> 00:21:26.279
That's everything you have to really, when you're

00:21:26.279 --> 00:21:29.240
trying to create a slide, you have to tell him

00:21:29.240 --> 00:21:34.380
act as a. whatever, an event planner or a design

00:21:34.380 --> 00:21:38.079
manager for 15 years and that you want to create

00:21:38.079 --> 00:21:42.279
a slide for X, we have to really get down into

00:21:42.279 --> 00:21:45.099
it. I've done a lot with AI, if you can tell,

00:21:45.700 --> 00:21:49.720
but I trust, but I verify. No, I do too. And

00:21:49.720 --> 00:21:52.779
so should everyone. Everybody should. That's

00:21:52.779 --> 00:21:57.309
first and foremost. How can business owners use

00:21:57.309 --> 00:22:01.089
AI to strengthen relationships and operations

00:22:01.089 --> 00:22:07.049
without crossing ethical or legal lines? Sure,

00:22:07.049 --> 00:22:10.549
you can be much more productive and proactive

00:22:10.549 --> 00:22:14.750
doing things with AI and it becomes easier every

00:22:14.750 --> 00:22:18.130
day because there's more and more specific AI

00:22:18.130 --> 00:22:21.589
tools out there to help you strengthen your business

00:22:21.589 --> 00:22:24.920
relationships and things like that, and he just

00:22:24.920 --> 00:22:30.019
pointed out there's so many AI programs, apps,

00:22:30.519 --> 00:22:32.960
bots, whatever you want to call them, websites

00:22:32.960 --> 00:22:37.420
that help you do things like help your social

00:22:37.420 --> 00:22:41.380
media, help your internet marketing, help your

00:22:41.380 --> 00:22:46.180
email campaigns, help your visibility, help you

00:22:46.180 --> 00:22:50.119
do business planning and execution. So those

00:22:50.119 --> 00:22:52.880
are all out there to help you. And it's the same

00:22:52.880 --> 00:22:55.539
adage. You can use them. I use some of them.

00:22:55.539 --> 00:22:57.599
Like I said, on the business side of my business,

00:22:57.700 --> 00:23:01.140
but like I said, the buck stops with me and I

00:23:01.140 --> 00:23:03.220
need to take ultimate responsibility for that

00:23:03.220 --> 00:23:07.079
stuff. And it's a very time saving. It's very

00:23:07.079 --> 00:23:10.460
resource rich and it helps a lot of things, but

00:23:10.460 --> 00:23:12.160
you got to make sure that you're in charge of

00:23:12.160 --> 00:23:15.720
it and don't be afraid to use it, but don't cavalierly

00:23:15.720 --> 00:23:17.859
use it and just, I'll just see what happens or

00:23:17.859 --> 00:23:19.539
you got to make sure you're in charge of it.

00:23:19.799 --> 00:23:23.000
But It can totally revolutionize your interactivity

00:23:23.000 --> 00:23:25.079
with other people and other businesses because

00:23:25.079 --> 00:23:28.960
you can just put in your whatever your thoughts

00:23:28.960 --> 00:23:31.579
or whatever and then it'll send out social media.

00:23:31.579 --> 00:23:35.319
It'll send out email contacts. It'll send out

00:23:35.319 --> 00:23:37.579
virtually anything you need to maintain business

00:23:37.579 --> 00:23:41.200
relationships and further develop those. Correct.

00:23:41.319 --> 00:23:45.420
Very good. Should entrepreneurs know about ownership?

00:23:45.849 --> 00:23:51.450
data and confidentiality when AI tools are involved

00:23:51.450 --> 00:23:56.170
in collaborations? Sure. And the easiest thing

00:23:56.170 --> 00:24:00.509
to remember is that anything, unless it's unequivocally

00:24:00.509 --> 00:24:04.690
specified in your particular AI program, and

00:24:04.690 --> 00:24:08.109
it will be the first thing that it tells you

00:24:08.109 --> 00:24:11.390
about itself, that your data is secure, which

00:24:11.390 --> 00:24:16.740
is very few AI platforms and very few AI apps

00:24:16.740 --> 00:24:20.200
and very few AI bots, most of it's unsecured.

00:24:20.220 --> 00:24:23.640
So you need to act as if you're handing your

00:24:23.640 --> 00:24:27.880
confidential data and your personal information

00:24:27.880 --> 00:24:30.019
or whatever, you're handing it to a third party.

00:24:30.640 --> 00:24:32.900
And it's just as if you were to hand it to someone

00:24:32.900 --> 00:24:35.079
off the street and ask them to put it together

00:24:35.079 --> 00:24:38.440
and hand it back to you. You've lost confidentiality,

00:24:38.539 --> 00:24:41.200
you've lost exclusivity, you've lost everything.

00:24:41.619 --> 00:24:45.710
So the rule of thumb is don't put that Into the

00:24:45.710 --> 00:24:49.750
a i keep that confidential information people's

00:24:49.750 --> 00:24:52.630
personal contact information or sales figures

00:24:52.630 --> 00:24:55.630
or information that you want to keep secret that

00:24:55.630 --> 00:24:57.609
you don't want out there so i'm not gonna get

00:24:57.609 --> 00:25:01.289
leaked if you put it in a but legally speaking

00:25:01.289 --> 00:25:04.690
you've given it to a non confidential third party

00:25:04.690 --> 00:25:08.069
so now it's out there so don't put it out there

00:25:08.069 --> 00:25:10.839
don't. use the AI to do things with confidential

00:25:10.839 --> 00:25:13.240
information. Use it for non -confidential information

00:25:13.240 --> 00:25:15.920
and then take it. And then if you want, put the

00:25:15.920 --> 00:25:18.480
confidential information in it yourself if you

00:25:18.480 --> 00:25:20.359
need to have that in there. If not, just don't

00:25:20.359 --> 00:25:23.079
do it. And that's probably the easiest way to

00:25:23.079 --> 00:25:25.839
avoid dealing with confidential information issues

00:25:25.839 --> 00:25:29.660
or confidential data or business processes or

00:25:29.660 --> 00:25:32.559
trade secrets or whatever it is you want to characterize

00:25:32.559 --> 00:25:37.680
it as. Absolutely. Absolutely. You've seen both

00:25:37.680 --> 00:25:41.349
startups and established businesses grow through

00:25:41.349 --> 00:25:45.089
networks? What legal foundation must be in place

00:25:45.089 --> 00:25:49.809
before growth accelerates? It goes back to the

00:25:49.809 --> 00:25:51.309
first thing we're talking about, making sure

00:25:51.309 --> 00:25:54.430
you have all your documents in place and your

00:25:54.430 --> 00:25:56.930
governing documents and your business processes

00:25:56.930 --> 00:25:58.829
and everything, but you want to also make sure

00:25:58.829 --> 00:26:03.190
that you have a culture to your business or a

00:26:03.190 --> 00:26:06.410
mantra to your business that you uniformly and

00:26:06.410 --> 00:26:10.789
objectively conduct your business in a straightforward

00:26:10.789 --> 00:26:14.470
and transparent manner and that you follow all

00:26:14.470 --> 00:26:17.089
the laws and rules and that you uniformly do

00:26:17.089 --> 00:26:20.329
that because if you don't do that, you're gonna

00:26:20.329 --> 00:26:23.670
maybe run into issues later on down the road

00:26:23.670 --> 00:26:27.740
because if you don't always comply with business

00:26:27.740 --> 00:26:30.059
formalities then you're going to run into a problem

00:26:30.059 --> 00:26:33.920
when you didn't do your annual report or you

00:26:33.920 --> 00:26:38.400
didn't have an annual corporate meeting or you

00:26:38.400 --> 00:26:40.480
didn't do something with your taxes or whatever.

00:26:40.640 --> 00:26:42.279
So you always want to make sure that in addition

00:26:42.279 --> 00:26:45.460
to all your basic documents and everything that

00:26:45.460 --> 00:26:49.619
you're comporting yourself in compliance with

00:26:49.619 --> 00:26:54.680
rules and laws and just norms regarding business

00:26:54.680 --> 00:27:00.180
and don't vary or don't swerve off of that, that

00:27:00.180 --> 00:27:02.039
platform. Because if you do, you're going to

00:27:02.039 --> 00:27:03.940
run into problems because if you don't uniformly

00:27:03.940 --> 00:27:07.200
do things, you don't objectively do things. Then,

00:27:07.339 --> 00:27:09.539
you know, the time that you didn't do it or whatever

00:27:09.539 --> 00:27:11.160
is going to become an issue because it could

00:27:11.160 --> 00:27:14.259
be a major hurdle down the road or it could explode

00:27:14.259 --> 00:27:20.960
into a very bad situation. Okay. So how can professionals

00:27:21.339 --> 00:27:24.940
Spot red flags during networking conversations

00:27:24.940 --> 00:27:28.799
that signal future legal or financial trouble

00:27:28.799 --> 00:27:33.599
Sure, so when you're networking with someone

00:27:33.599 --> 00:27:36.940
or a business organization or whatever Obviously

00:27:36.940 --> 00:27:41.700
if they make specific outcome guarantees or promise

00:27:41.700 --> 00:27:44.500
things or whatever It needs to be in writing

00:27:44.500 --> 00:27:46.839
and it needs to be substantiated. And not only

00:27:46.839 --> 00:27:48.440
does it need to be in writing substantiated,

00:27:48.539 --> 00:27:50.819
but you need to independently verify that it's

00:27:50.819 --> 00:27:53.700
actually feasible and not just take their word

00:27:53.700 --> 00:27:56.400
for it. So you need to do your own due diligence.

00:27:56.940 --> 00:27:59.140
And that's always a red flag when you're networking

00:27:59.140 --> 00:28:01.920
is if someone's legit and, you know, they're

00:28:01.920 --> 00:28:04.859
promising you a lot of stuff that they can substantiate

00:28:04.859 --> 00:28:07.819
it and show you in an objective format. They

00:28:07.819 --> 00:28:10.279
can show you the data or the metrics that support

00:28:10.279 --> 00:28:13.190
what it is they're referencing to you. And that

00:28:13.190 --> 00:28:15.529
they're not afraid to have it committed to writing

00:28:15.529 --> 00:28:18.250
in the form of a contract if they're promising

00:28:18.250 --> 00:28:20.210
you something that they're going to deliver and

00:28:20.210 --> 00:28:22.349
if they don't promise you then there's consequences.

00:28:23.069 --> 00:28:26.490
So someone wants networking with you and promises

00:28:26.490 --> 00:28:29.690
you a lot of stuff that's great can they substantiate

00:28:29.690 --> 00:28:31.549
what they're promising and are they willing to

00:28:31.549 --> 00:28:34.230
reduce it to writing and stand by and if the

00:28:34.230 --> 00:28:38.890
answer is no then that's a red flag. Usually

00:28:38.890 --> 00:28:43.210
with, when it comes down to networking with any

00:28:43.210 --> 00:28:47.490
industry, that's really not the place for those

00:28:47.490 --> 00:28:51.450
exact numbers, those guarantees. And if you're

00:28:51.450 --> 00:28:55.829
networking with somebody and they are guaranteeing

00:28:55.829 --> 00:28:59.910
a certain number, you don't have the time to

00:28:59.910 --> 00:29:05.170
challenge that. I just, as a rule, I dismiss

00:29:05.170 --> 00:29:08.619
that person. Because during a networking event

00:29:08.619 --> 00:29:11.380
for him to come out and say, Oh, I can guarantee

00:29:11.380 --> 00:29:14.119
you X amount. I don't put a lot of credence behind

00:29:14.119 --> 00:29:16.900
what he's saying. I think he's full of castor

00:29:16.900 --> 00:29:19.920
oil would think that. So that's what I try to

00:29:19.920 --> 00:29:23.160
do. Okay. Let's bring this podcast full circle.

00:29:24.160 --> 00:29:27.400
If you could give one rule for building profitable

00:29:27.400 --> 00:29:31.599
relationships that stay clean, compliant, and

00:29:31.599 --> 00:29:36.740
drama -free, what would it be? Sure. Just going

00:29:36.740 --> 00:29:38.680
back to what I've been talking about, reduce

00:29:38.680 --> 00:29:41.460
it to writing and make sure that the relationship

00:29:41.460 --> 00:29:46.440
is clearly expressed in objective terms, that

00:29:46.440 --> 00:29:49.480
everyone understands what is supposed to be done,

00:29:49.539 --> 00:29:51.799
how it's supposed to be done, and if it's not

00:29:51.799 --> 00:29:55.200
done, what the consequences or remedies are for,

00:29:55.380 --> 00:29:58.680
and make sure that you apply that to every opportunity

00:29:58.680 --> 00:30:01.740
or business relationship that you have. And then

00:30:01.740 --> 00:30:04.339
in doing that, make sure that you do it in a

00:30:06.420 --> 00:30:11.039
cohesive objective fashion every time and you're

00:30:11.039 --> 00:30:13.180
going to avoid a lot of problems that you could

00:30:13.180 --> 00:30:16.359
have had if you do things that way. Absolutely.

00:30:16.700 --> 00:30:20.259
That's great, great advice. Matthew, I'm so glad

00:30:20.259 --> 00:30:24.400
you came on my podcast. You gave me a lot to

00:30:24.400 --> 00:30:27.460
think about, but I hope all of my listeners have

00:30:27.460 --> 00:30:30.240
something to think about. But if they want to

00:30:30.240 --> 00:30:33.140
contact you, even just to speak with you, get

00:30:33.140 --> 00:30:36.019
advice, or to hire you, what's the best way to

00:30:36.019 --> 00:30:38.299
get hold of you? Sure, Michael. The best way

00:30:38.299 --> 00:30:40.200
to get a hold of me is just go to my website,

00:30:40.539 --> 00:30:44.299
which is fornarolegal .com. Just my last thing,

00:30:44.400 --> 00:30:48.000
legal .com. And it has all my contact information.

00:30:48.380 --> 00:30:51.720
It has all my social media. It has all my blogs.

00:30:51.839 --> 00:30:54.480
It has all my white papers. It has all my podcasts.

00:30:54.599 --> 00:30:57.599
It has all my videos. It has all my free guides.

00:30:58.099 --> 00:31:01.400
So it's a really good resource for people with

00:31:01.400 --> 00:31:03.480
questions, because a lot of the answers are right

00:31:03.480 --> 00:31:06.839
there. And then if not, Feel free to email me

00:31:06.839 --> 00:31:11.500
or call me. That's great. This conversation is

00:31:11.500 --> 00:31:14.859
a reminder that great networking isn't just about

00:31:14.859 --> 00:31:18.480
who you meet. It's about how you protect relationships

00:31:18.480 --> 00:31:22.200
that matter. The strongest connections are built

00:31:22.200 --> 00:31:25.519
on clarity, smart conversations, and knowing

00:31:25.519 --> 00:31:28.920
when to move fast and when to slow down. Add

00:31:28.920 --> 00:31:32.200
AI into the mix, and the stakes get even higher.

00:31:32.509 --> 00:31:35.130
If today's episode changed how you think about

00:31:35.130 --> 00:31:39.029
partnerships, agreements, or AI in your business,

00:31:39.549 --> 00:31:41.990
share with somebody who is building something

00:31:41.990 --> 00:31:45.589
real right now. Make sure you're subscribed to

00:31:45.589 --> 00:31:48.190
Networking Unleashed, building profitable connections

00:31:48.190 --> 00:31:50.809
so you don't miss conversations that help you

00:31:50.809 --> 00:31:54.670
build opportunity without unnecessary risk. And

00:31:54.670 --> 00:31:57.509
if you want to sharpen your communication, strengthen

00:31:57.509 --> 00:32:00.369
your relationships or business connections that

00:32:00.369 --> 00:32:04.069
actually pay off, head to Foreman .com to learn

00:32:04.069 --> 00:32:07.730
how I work with professionals. teams, and organizations.

00:32:08.289 --> 00:32:11.549
So until next time, connect with intention, protect

00:32:11.549 --> 00:32:14.849
what you build, and keep your relations profitable.

00:32:15.390 --> 00:32:17.650
Matthew, thank you again for coming on the podcast.

00:32:17.910 --> 00:32:20.430
I hope to talk to you soon. Thank you, Michael.

00:32:20.470 --> 00:32:27.069
Thank you for having me. Well, hold on, folks.

00:32:27.549 --> 00:32:30.430
Don't go anywhere. Let's hear from our sponsors.

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David Neal, co -founder, Revved Up Kids. Revved

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When it comes to making the biggest financial

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for you. You can contact Henry at 561 -427 -4888.

00:33:23.120 --> 00:33:26.359
insights today. And of course, a big shout out

00:33:26.359 --> 00:33:29.859
to you, our amazing listeners, for tuning in

00:33:29.859 --> 00:33:32.759
and spending your time with us. If you're interested

00:33:32.759 --> 00:33:35.960
in my digital courses, being coached, or having

00:33:35.960 --> 00:33:39.559
me come and talk to your company, just go to

00:33:39.559 --> 00:33:42.819
Michael and fill out the request form. Remember,

00:33:43.099 --> 00:33:46.039
networking isn't about being perfect. It's about

00:33:46.039 --> 00:33:49.000
being present. So take what you've learned today,

00:33:49.240 --> 00:33:51.980
get out there, and make some meaningful connections.

00:33:52.269 --> 00:33:55.289
If you've enjoyed this episode, please don't

00:33:55.289 --> 00:33:58.730
forget to subscribe, leave us a review, and share

00:33:58.730 --> 00:34:00.910
it with someone who could use a little networking

00:34:00.910 --> 00:34:04.049
inspiration. Let's keep the conversation going.

00:34:04.589 --> 00:34:08.829
You can find me on Apple, Spotify, Pandora, YouTube,

00:34:09.269 --> 00:34:13.690
or my website, foreman .com slash podcasts.
