Show Notes: WorkParty Guest Bobbi Brown
For the first episode of WorkParty the podcast, Jaclyn Johnson chats with lawyer Brenda Schamy and beauty mogul/entrepreneur Bobbi Brown. The episode revolved around getting a new business off the ground and running and everything you need to do to get there. From tips on setting a business structure to leaving the normal 9-5 work life, this episode touches on it all.
Jaclyn breaks down the essential things you'll need in order to get your business off the ground. This includes understanding what your business is and how it'll make money. (1:00)
Brenda Schamy is introduced to discuss business structure and partnerships. Here you'll get the breakdown on how LLC's, corporations and collaborations get up and running. (4:15)
"Having a company actually means that you have a legal structure, and for the sake of simplicity there are two main types of companies that you should be aware of." (5:00)
"Starting yourself as a company gives you benefits, liability protection, and sets you up for future growth." (7:33)
Jaclyn kicks off the conversation on trademarks, copyright, and patents for once you start a company. (8:40)
Brenda explains what happens if you have a big idea and someone else already owns it. (10:35)
"Even if you don't have a fancy lawyer or a lot of resources, I would advise partners, especially at the beginning, to outline expectations for themselves and for each other." (12:00)
"Anyone who's going to be intricately intertwined with the day to day of your business, I'm a big fan of having them sign an NDA." (17:20)
Bobbi Brown discusses how in her earlier days being a good art student led her to land in the makeup world. (21:45)
Bobbi dishes on some of her early wins including beating seller expectations, selling a company in four years, and staying as an employee for 22 years in her own company. (24:30)
"If it doesn't work, it's not a failure. It's just an opportunity to do something else." (26:32)
"When I started the makeup company it was the closest thing to my heart. Right now what I really believe in is a combination of health and wellness and full-on creative freedom." (27:05)
Jaclyn has Bobbi share how shifting from the traditional corporate world to the startup life really feels. (29:05)
"Stop talking about it, just do it. Don't wait until you think you have the money to do it. Figure out how to do it, tell people about it." (32:30)
LISTEN TO THE FULL EPISODE OF WORKPARTY HERE.
Are you in your first year of business or about to get started? Fill out the form to download your year one of business checklist below to know what to look out for in the early stages of building your WorkParty!
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