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Wealthy & Wise: Where is Your Business Team?

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July 12, 2023
Author: NCH

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About the Video: Where is Your Business Team?

Having a great team to advise you in business is of high importance. A team of talented and experienced individuals can provide invaluable insights, guidance, and support, enabling you to make informed decisions and navigate the complexities of the business world with confidence. A diverse team brings different perspectives, skills, and expertise to the table, enhancing problem-solving abilities and fostering innovative thinking. They can identify opportunities, mitigate risks, and challenge your assumptions, ensuring a well-rounded approach to strategic planning and execution.

Prefer to read? A full transcript is provided below.

Cort:

Hello and welcome to another edition of Wealthy and Wise. I’m your host, Cort Christie. And today we’ve got a great program. One of the most important things for any successful entrepreneur is having experts, a team of experts to be there with you through thick and thin, no matter what goes on in business, because you never know what’s coming your way and launching a business, growing a business and developing wealth. Well, I brought in an expert. We have Bryan Hawley, who is one of our top specialists within our organization at NCH supporting our clients day in and day out. You’ve been with us for years, Bryan, and I know everybody that has a chance to get to know you and interact with you absolutely loves the experience because you are a wealth of knowledge. So, thanks for being on the program.

Bryan:

Thank you for having me.

Cort:

Absolutely. So, our whole program today is built around having a team of experts to help you. I know that if I have a medical condition, I have people that I call and I’ve got a buddy that works in the health care industry and I’ve got another friend who’s in the insurance world and he’s an expert in that. And he helps me identify a doctor or somebody that I need or if there’s a family member that’s sick, I’ve got a team of people I go to, to make sure I’m getting the best care for myself or my family every time. And when it comes to starting a business and developing the business, growing the business, dealing with federal agencies, state agencies, potential losses, risk and everything else, how important is it to have the right team there to support you?

Bryan:

Well, it’s, there’s a saying in business, what you don’t know is going to cost you money. Right? So how much do you want to not know versus how much money do you want to spend to know those things? And of course, there’s a fine line, right? I mean, you get out the sniffles and, you know, go to the Mayo Clinic and fly there and go to the gym. Yeah, you can way overdo anything. But the point is, having a trusted expert to not take advantage of the situation, you know, maybe go with a company that’s been around 33 years or something, you know. So, and then also having that trust built up with them. So, you mentioned that I’ve been with NCH for years and years and yeah, I’ve been in the industry for six years working on my ninth year here at NCH and very proud to work at a company that has several departments that it was responsible for the whole lifecycle of a client. So, you know whether you just coming in let’s say you’re a landscaper, right, or entrepreneur doing the real estate investment, whatnot, whatever’s going on in your business situation, you need a platform. I would say like the LLC or the corporation, the structure would be the concrete slab on top of which you would build your business. So, the plumbing would be how the cash moves in and out. There’s a lot of different analogies I use, but that’s the what. The how is where we’re experts, is where Nevada Corporate Headquarters, NCH really comes in. And that’s why, you know, having when somebody first speaks with our experts that are on the front end of our company, it’s their job to go ahead and, oh, how did you hear about us? Welcome them and say, here’s what we do, what do you need? Fits the clients need or the would-be clients need with what we’re able to do. And if it is a good fit and everybody’s happy, move that forward. Make them a client, allow them to become a client. Once they are, then you know, let’s say you get an LLC right? First thing that’s going to happen is you’re going to get your corporate formalities. A lot of people and I’m sure in the years that you’ve been doing this, you hear people like, hey, I got my LLC and they hang up their articles on the wall right next to their business license, right like that. That’s it. I got that. I got my EIN and check and check. Then I, you know, go do all these other things. But in order to run an LLC like an LLC, you have to have more. Right? So, the state is one place you go, then the IRS is a second place you go. The third place is all the legal documentation. So, that’s the records book. But once a client receives that, now they have something tangible. Wow, this is my business. You know, the fact that we put it in a nice binder with a gold seal on the side and everything is nice, but what’s more important is what’s inside of it, right? All those legal documents and anybody could throw a bunch of papers in somebody’s lap and say, hey, good luck. Now serving number 37. There’s a phone number in there that says, call us, let us know you have this right and set up an appointment for what we call a walk through. Right? And that’s only 30, 45 minutes, depending on the breadth of your questions, the depth and breadth of your questions. It could be an hour for some folks, and that’s just okay. Right? And then once that happens and they’re told like, oh, here, here’s where you sign to become the manager of your own business, here’s where you acknowledge that the organizer, us, has resigned and now this whole thing is yours. And here is where you sign to get the EIN number and here’s where you sign to appoint the other manager. and oh why am I doing this and what is this needed for an answer? Here’s your operating agreement. There’s a lot of different things that go in there. Oh, you’re going to issue the membership certificates to your LLC or the or the stock certificates to your corporation’s equivalent of each and all of these things. Once somebody is walking through this, the reality of them actually, like I am a business owner, it sets in. So, the department I’m in is pretty much what we call the coaching department. It’s where all the business specialists are. And back in 2017, I think it was we used to also do the walkthroughs prior to that and so that when we separated out to where we could just focus on stuff I’ll get to in a moment. But when I was doing those walkthroughs at that time, it was people would start the conversation with, you know, their voice was just different. Maybe they’re unsure of the situation, why they were on the phone. By the end of it, there was pride of ownership. They were thanking me for, you know and then through me, the company for being there. And wow, this is a whole different experience and everything like that. I really feel like I have my business now and then there’s more to it after that. But having that, having your business and saying, hey, this is what I have, it really then allows you to say I am now a business owner. Moreover, after that, we’re with them for at least a whole year, right? A whole year of, oh, hey, the banks asking me this question. I don’t know. I know you guys went through all this paperwork with me and I’m straight on it. But now I’m in a new situation and maybe everything is running right out of my brain. Right? And so, we keep getting calls and we make appointments. We have what we call a general questions meeting, you know, once we walk them through the paperwork, then my department will take them. And then they’re assigned to a specific business specialist and we get to answer all their questions. You know, I had a call earlier today, today, somebody was saying, Hey, I have this property. I need a land trust for it. It was a real estate investor and basically it was something that they needed to introduce a third property to their existing asset protection structure. Okay. So, they had two properties in there already. They needed to get a third in there and they said, I’m having a problem with my tenant. It had the property for a number of years, two years actually already. And you know, I could be well why isn’t in there already or whatever? But instead, it’s well, what kind of issues are you having? What’s going on? Well, it turns out without getting into a lot of details over a specific client situation, there was kind of already smoke coming out of the windows and she was trying to get fire insurance, right? So, the …

Cort:

Something we’ve heard many times before.

Bryan:

Absolutely. And the idea was the best thing I could do is say that, look, this may or may not help with that situation because you might be a little Johnny come lately on that. However, do you want to be having this, you know, maybe this one goes fine. And there she was, just a concern, not really an issue, because that’s really where it was. It was a concern. But the next one could be the same or bigger and might actually go somewhere. So, do you really want to wait or do you want to introduce that now? She was calling to introduce the property into her asset protection scheme at that point. I just wanted to really drive it home. It’s like, you know, you do have a choice, you know, and which one do you really want to make? And clients always have a choice. So that’s just why, that’s just an example of how we’re here after the fact.

Cort:

And that’s just one example of a client of ours that, you know, all of a sudden they had a situation with a piece of real estate that could become a lawsuit, could become a problem. Now they’re like, oh, why didn’t I call NCH who I’m already working with how about this other thing that I’m doing on the side to make sure that I do it the right way. And, you know, gets back into having a team of experts that are there for you to make that phone call talk things through. You said when you launched into this that most business owners don’t know what they don’t know. And so, you had this great idea and you’re going to go make a bunch of money and or you’re investing in real estate and you’re going to flip homes and it’s going to be wonderful. And you know, you’re going to make all this money off the sale of the homes that you’ve renovated and then things get in the way, stuff happens. And so, there’s so many things that you just aren’t aware of because you haven’t done it before. It’s new to everybody. And having a team, like you said, where you’ve got someone that just literally walks you through a record book of an LLC and explains all the legal documents that are so important. No other company does that. We’re the only company that I’m aware of that literally works with you on the phone signing, dating all the documentation that’s so important.

Bryan:

Not read the three paragraphs that comes before it, figure it out.

Cort:

Yes, the ownership certificates. If the ownership certificates were never issued to anyone who owns the business entity?

Bryan:

Yeah.

Cort:

But I talk to people all the time and they’re like, oh yeah, I got my records here and I’m like, Great. Did you sign them? Did you issue shares? Have you done any of these things that are so important? No, I just registered my LLC. I’m good. You’re not good.

Bryan:

Yeah.

Cort:

You’re far from good.

Bryan:

I’ve heard that before. Yeah.

Cort:

So, the fact that we actually do that fundamental piece and then you working with these clients long term when things come up, I mean, what else you get these all day long and I’m going to put you on the spot here, but what are some of these, I don’t know what I don’t knows that you end up helping people with every day.

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Bryan:

Okay? Another, I don’t even have to reach that far back in my memory, like about a call around 3:00 today was, somebody called, they had first set up their business for them and family members across multiple states to flip houses, you know, buy a distressed property, for one price, fix it up, sell it for more. There’s your business, right? And so now all of a sudden they wanted to get into tax liens. So, they were saying well you know I don’t I want to do marketing on the Internet and I don’t want it to come back to this other business. So, a lot of times this example is about sometimes how vague somebody could be about what it is actually need and how we’re trained, not only by NCH, perhaps our own experience, because most of the coaches here have been business owners like I’ve been myself and but also just trying to dive deep into what it is that you actually need. Okay, so what’s the concern? You know, well, I don’t want them coming back to the LLC that already has the flip homes for the tax liens. Okay. Are you buying tax liens and then all of a sudden saying, oh, you don’t live here anymore, you got 30 days to move out? Oh, no, no, no. We’re not doing anything like that. Okay? Because that would be the scenario where they’d really want that separation. Right? And then what it turned out to be was just that for marketing reasons, they just didn’t want to blend the two things because they wanted to spend time on the brand that was just for flipping and dealing with distressed homes and dealing with distressed homeowners. Because if you’re having tax lien issues, you most likely have paid off the loan and you’re paying the taxes outside of the regular PITI situation. Right? So, and those typically are people that are older in age, right? Maybe retired on a fixed income. That’s how they get into that situation. So turned out they were there to help. They were there to like, hey, we’ll pay it off, buy another six months, all this other kind of stuff and work it out. Kind of like a low interest loan. But they wanted it separately. So, the idea was they had a question about what are the legalities? And also, if they’re going to be doing it in multiple states where the flipping was only going to happen, where each family member was across four different states, they were going to do this taxing thing nationally and what that would take. What’s the red tape? What do I have to do? Hey, so we’d already talked to him about something called foreign filing, which is making a company that’s born in one state be able to work in another. Will I have a foreign file to these others? If I do get just a DBA off of this, do I have to take that DBA into every county versus… So, there’s all of these different things which we don’t have time to get to on this type of a situation. But you could tell I like talking about this stuff. But the whole point is that.

Cort:

You’re the expert.

Bryan:

They came to me.

Cort:

Yes.

Bryan:

And I was able to say, here’s your options. Here’s why I would choose this one and here’s why I think you’ll fare better doing it that way. And we’re looking at cost. We’re working at ease, because sometimes the best thing to do best practices isn’t the easiest thing to do. So sometimes maybe if it’s not the easiest thing to do and they really need easy in their life, you know, we get clients, hey, I’m having my third child. We’re doing this little bakery at home. Plus, we’re doing this. I mean, that’s another client. Then maybe we could take a hit on the best practices, be a little, not so best, if it could be a little easier and will actually fit within their life. Because a lot of times people will make decisions based on what will fit in their life.

Cort:

Right?

Bryan:

And only what will fit. And then they’ll miss out on a huge swath of maybe, maybe they put a hole in their own asset protection a truck could drive through. But maybe if they stretch a little bit outside their comfort zone, not totally best practices, but a little bit more, they can gain a whole lot better of a situation. And that’s really where we’re also working with clients. You may not be able to go full Monty on something, but where can we fit something within your life that you have time to do that’s a good fit for you? And that’s really where this stuff gets personalized and reading websites and Googling this isn’t really going to do it for you.

Cort:

Right? I think, you know, there’s so much information online you can read and read and read. And now ChatGPT is pumping out more information just based on everything that everybody else has written.

Bryan:

Right, right.

Cort:

At some point, you got to have people in your corner like Bryan, who can analyze the situation, which is so unique to everybody. And sometimes, as he said, it’s not, you know, the perfect structure, but it’s something better than doing nothing. And ultimately that’s, you know, what we’re trying to do. But the important thing is we’re one phone call away. Once you become a client of NCH, we not only help you get your business registered properly, which is the foundation, but then we’re here as a partner with you and your business, helping you through all kinds of things that you don’t even know are going to come your way. And you’ve got a trusted source of experts available, whether it’s in the legal realm or we have a partnership with a law firm or with the tax realm where we’ve got one of the best tax firms that we work with that are absolutely incredible for small business owners, or all of our consultants on staff or coaches that are here supporting the needs of our clients day in and day out. So vital. And Bryan, what you bring to the table is so vital to every client that you work with. And I thank you for that.

Bryan:

Thank you.

Cort:

Absolutely. Well, thanks for being on the program, enlightening our viewers a little bit on what NCH is about and the difference of working with a firm like NCH, where you’ve got a team of experts assigned to help you and work with you at an affordable price. That’s the interesting part, is people say, how can you provide me this much support, lifetime of support, and only charge the kind of fees that you do? And the reason is, is we’re very efficient. We’re very good at what we do. We’re not some really expensive law firm that’s out there. We know businesses, we know business owners, we know what your needs are and we officially get them to you, but we support you all the way through that process. So, thanks again.

Bryan:

Absolutely.

Cort:

And for all of you tuning in to Wealthy and Wise, I hope you got the message today that each and every one of you thinking about becoming an investor or starting a business, needs an expert and need that multitude of experts in your corner that have solutions that have been through just about every scenario you can imagine in business or real estate investing. We’ve been there and we’ve got the answers and solutions for you. So, thanks again for tuning in. I’m your host, Cort Christie. Have a great day!

DISCLAIMER: The above material has been prepared for informational purposes only, containing opinions of the provider, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Please consider consulting tax, legal, and accounting advisors before engaging in any transaction.

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