[Classic Rewind] Mike Payne: Legally Protecting You and Your Business

About Mike Payne: Mike Payne is a highly skilled transactional lawyer and CPA, as well as the Founder and CEO of BOSS Advisors, a revolutionary hybrid law firm and accounting firm based in Arizona. With over 17 years of experience working with business owners, individuals, and nonprofit organizations, Mike is an expert in providing clients with legal, tax, accounting, and payroll solutions to help them succeed from startup to growth to sale. As a proud father of five beautiful children, Mike is passionate about helping local businesses and their owners and families, as well as nonprofit organizations nationwide. He was awarded the Rising Stars designation of top-rated practicing attorneys selected through extensive evaluation in 2022. 

In this episode, Ryan and Mike Payne discuss:

• The unique business structure and legal subscription service provided by BOSS Advisors in Arizona and the legal documents and entity structure that small business owners and startups need to protect themselves
• The benefits of a legal subscription for small business owners to protect their businesses proactively and save money in the long run
• The importance of value-pricing in small businesses and service-based businesses to increase profits, reduce costs, and protect against litigation
• The significance of hiring a business coach and building a team of advisors to improve personal and business performance as a business owner

Key Takeaways:

• BOSS Advisors is a company that provides small business owners with a wide range of services including legal, accounting, and tax, to aid in informed decision-making, risk mitigation, and tax saving, and also offers a legal subscription service with pre-approved legal documents for varied business requirements.
• Some small business owners skip working with lawyers due to high costs, but subscribing to a legal service with regular meetings can prevent costly legal problems.
• Choosing a value-based pricing strategy that meets client needs can boost profits and reduce legal risks and emotional strain while maintaining a positive company culture.
• Investing in oneself as a business owner through hiring a business coach and surrounding oneself with a good team of advisors pays dividends, improves personal and business performance, and helps navigate the painful parts of the process more quickly. 

"If you're subscribing to Netflix and you watch a hundred movies or two, you're gonna pay the same price. And that's how our legal subscription works as well." — Mike Pay