33 min
Scott Smith – Launching a Business? Find Your Future You and Listen to Them First My Worst Investment Ever Podcast
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- Investing
Scott Royal Smith, Esquire, founder, and CEO of Royal Legal Solutions prides himself on successfully conveying the essentials in asset protection to audiences nationwide. Scott is no stranger to high stakes litigation and has spent his career deconstructing asset protection structures and developing strategies that serve both to protect what you own as well as leverage your income and maximize your tax savings.
With experience in entrepreneurship, starting several successful companies in owning real estate in 10 states in America, Scott pulls from his experience as a lawyer to put a new and valuable perspective on business ownership. No one wants to get sued. But if you plan to start a business, the question isn't if, but when you’ll get sued. Scott is the attorney who will have your back. He's smart, savvy, and he's got a great sense of humor. And he has a gift for simplifying the complex.
“Try to find someone like you businesswise and ask that person a bunch of questions about what you should be doing because they've already gone through it all once.”
Scott Smith
Worst investment ever Launching his business idea Driven by a sense to help people with things that he had already figured out, things he had spent the time to figure it out, he started to teach and do it for others. His law degree also came in handy, especially when advising people on how to launch a new business or choose investments.
Letting excitement get to him People wanted his services. Within no time he had a really popular podcast. Then pretty soon he had a rapidly growing business. Everything was going too fast and was way beyond what he understood regarding the business. But the growth got him all excited and he felt pretty confident that he now knew just about everything and that whatever he touched would turn to gold. So he kept things moving fast.
Fast and big is not always good His business continued growing fast and he got to a point where he realized he did not know what to do with all of that growth. He found himself having to solve problems that he didn't understand.
He was forced to hire people to solve the problems for him. Because he didn’t understand what the problems that needed solving were, he ended up hiring people that weren’t that great. He was hiring and firing people so fast.
He should have outsourced It was only after he had spent over a quarter-million dollars that he realized that he was struggling to create a system or a solution to something that someone else already had out there.
He realized that had he taken a pause, slowed things down with the business, he’d have been able to figure out what the business needed and then hire an agency and offload things on them. But no, his excitement to keep things on a high saw him make his worst investment ever.
Lessons learned Delay launching a new business Yes, you have an awesome idea. Yes, you feel ready for a business launch. Delay that launch by at least three months. Take those three months to learn. Take a course on how to launch a business online, get someone to mentor
Scott Royal Smith, Esquire, founder, and CEO of Royal Legal Solutions prides himself on successfully conveying the essentials in asset protection to audiences nationwide. Scott is no stranger to high stakes litigation and has spent his career deconstructing asset protection structures and developing strategies that serve both to protect what you own as well as leverage your income and maximize your tax savings.
With experience in entrepreneurship, starting several successful companies in owning real estate in 10 states in America, Scott pulls from his experience as a lawyer to put a new and valuable perspective on business ownership. No one wants to get sued. But if you plan to start a business, the question isn't if, but when you’ll get sued. Scott is the attorney who will have your back. He's smart, savvy, and he's got a great sense of humor. And he has a gift for simplifying the complex.
“Try to find someone like you businesswise and ask that person a bunch of questions about what you should be doing because they've already gone through it all once.”
Scott Smith
Worst investment ever Launching his business idea Driven by a sense to help people with things that he had already figured out, things he had spent the time to figure it out, he started to teach and do it for others. His law degree also came in handy, especially when advising people on how to launch a new business or choose investments.
Letting excitement get to him People wanted his services. Within no time he had a really popular podcast. Then pretty soon he had a rapidly growing business. Everything was going too fast and was way beyond what he understood regarding the business. But the growth got him all excited and he felt pretty confident that he now knew just about everything and that whatever he touched would turn to gold. So he kept things moving fast.
Fast and big is not always good His business continued growing fast and he got to a point where he realized he did not know what to do with all of that growth. He found himself having to solve problems that he didn't understand.
He was forced to hire people to solve the problems for him. Because he didn’t understand what the problems that needed solving were, he ended up hiring people that weren’t that great. He was hiring and firing people so fast.
He should have outsourced It was only after he had spent over a quarter-million dollars that he realized that he was struggling to create a system or a solution to something that someone else already had out there.
He realized that had he taken a pause, slowed things down with the business, he’d have been able to figure out what the business needed and then hire an agency and offload things on them. But no, his excitement to keep things on a high saw him make his worst investment ever.
Lessons learned Delay launching a new business Yes, you have an awesome idea. Yes, you feel ready for a business launch. Delay that launch by at least three months. Take those three months to learn. Take a course on how to launch a business online, get someone to mentor
33 min