The Big L Word - Liability
from Building Great Sales Teams Hosted by Doug Mitchell
In this episode of 'Building Great Sales Teams,' Doug Mitchell explores the complexities and legalities of structuring sales positions, particularly focusing on the ongoing debate between W2 employment and 1099 contracting. He touches on the IRS and insurance implications, the importance of setting up an LLC, and the motivational and mindset factors of different employment structures. Additionally, Doug underscores the necessity of having an HR handbook and robust policies to mitigate liabilities and ensure smooth business operations. The episode provides actionable advice for entrepreneurs on optimizing their sales teams while maintaining legal compliance. Chapters 00:00 Introduction and Format Change 00:29 Understanding Sales Team Liability 00:56 W2 vs 1099: Legal Considerations 02:04 Insurance and IRS Implications 03:00 Setting Up Your Sales Structure 04:24 Legal Language and Lawyer Consultation 07:16 Motivation and Mindset for Salespeople 11:26 HR Handbook and Minimum Standards 12:40 Decision Fatigue and Systems 16:56 Conclusion and Final Thoughts Thank you for supporting Building Great Sales Teams! If you want to learn more about our host Doug Mitchell or get free BGST resources go to www.salesprogrambuilder.com And don’t forget to visit us on Apple Podcasts to leave a review and let us know what you think! Your feedback keeps us going. Thanks for helping us spread the word!
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What this episode covers
In this episode of 'Building Great Sales Teams,' Doug Mitchell explores the complexities and legalities of structuring sales positions, particularly focusing on the ongoing debate between W2 employment and 1099 contracting. He touches on the IRS and insurance implications, the importance of setting up an LLC, and the motivational and mindset factors of different employment structures. Additionally, Doug underscores the necessity of having an HR handbook and robust policies to mitigate liabilities and ensure smooth business operations. The episode provides actionable advice for entrepreneurs on optimizing their sales teams while maintaining legal compliance.
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