Jeff Bezos is the richest man in the world and pays zero dollars in taxes.
Once a year on my Facebook, an article him will surface about this, which will elicit the most use of the anger face emoji that I’ve ever seen. Following, will be an onslaught of negative comments from my audience, which consists 85% of coaches and online business owners— mostly female.
As an onlooker, a lawyer, it’s fascinating to read the comments, the comments and the proverbial, “How is this even possible?”
Well, it’s quite simple to know how Jeff Bezos can surmount that level of wealth paying no taxes and it’s because of these two things.
One, the law and the legal system. And two, he created the legal structures, systems, and processes to do this. The two things that most coaches and entrepreneurs in the online space are trying to avoid.
But here’s the thing though. Jeff Bezos is not unique. You, as well as anyone else can do the same thing, if you want to.
However, you have to stop doing the very thing you’re doing in your business, which is avoiding legal, and avoiding structures.
You’ve got to create the systems, the processes, and use them.
You’ve got use the proper legal instruments, and legal maneuvers.
You also have to start using contracts, policies, and documentation.
You cannot say you have a business, yet not have a corporation set up, or the wrong corporation set up. This is true whether you you’re online or not.
You can’t just rely only on Divine Feminine marketing energy tactics alone, at the expense of masculine structures, which is what the coaching industry has become.
You can’t just rely on the Law of Attraction, angel numbers signs (111, 222, 333, 777, etc) moon-cycles, Human Design, or “Just Be the VIBE”, marketing alone. You need masculine strategies in place.
You also cannot skip out on using attorneys early on in your business, opt to first invest in X, Y, or Z coach, and vow that when you get your first client, you’ll tend to legal then, but don’t.
Equally, you can’t wait until things go south in your business and that is when you deem it to right time to legalize your business and get a lawyer involved..
You also can’t try to do your own contracts and think this is serving your business in anyway. Or, worse yet, not use contracts at all as way to absolve liability for your coaching parties.
I could go on.
Globally, we’re at that point in the world where you coaching and online businesses and side hustles HAS to work. It’s not working is not an option, and no one is coming to save you.
Thanks Corona!
And in order for your coaching practice, online businesses, side hustle and freelance gigs to work, you’re going to have to start doing and implementing the things in your businesses that real businesses utilize.
Things like structures, like scheduling, like systems, like processes, documents and attorney-drafted legal contracts. Not Google.
While it’s important as women to create business that serves us, that allows us to work in a way that allows to have the life and freedom that we so desire, we can’t forget about the strategies and structures that allow a business to be successful.
And if you’re upset about Jeff Bezos being the richest man in the world paying zero dollars in taxes, don’t hate the player. Create legal structure and join the game.