The Big L Word - Liability
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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

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