First, a couple reminders. Nov 14 , 15, we’re having IWS 2. This is our next level in the 
Infinite Wealth System. If you’ve been to another Infinite Wealth System workshop or taken our online course you are qualified to go to the next level of our wealth training programs. Visit www.wealthclasses.com and click on classes to learn more.
One of the topics of our last Connector Coaching call is a critical part of any wealth building strategy. Term Sheets are legal documents that create a clear starting point for a business venture. Here is part of the definition from Wikipedia…
A term sheet is a bullet-point document outlining the material terms and conditions of a business agreement. After a Term Sheet has been “executed”, it guides legal counsel in the preparation of a proposed “final agreement”. It then guides, but is not necessarily binding, as the signatories negotiate, usually with legal counsel, the final terms of their agreement.
There are several major documents you need to be aware of before starting any company be it an LLC a C corp, a joint venture or whatever. You need to know what they are to keep yourself out of trouble and to make sure your business venture has a good shot at success.
There are a lot of legal issues around these documents and I’m not an attorney nor am I giving financial advice on this blog. All I want to emphasize today is that we just had a great educational call on term sheets and it reminded me of the power of planning.
The more time you put up front in the planning phase, the less time you’ll need to get to the profitability phase. Term sheets are crucial so do your homework. If you want to learn more about starting your own business, launching a joint venture, or just reducing your taxes, find out how one of our wealth coaching programs can help!
Here’s a Podcast video describing the various wealth coaching programs we offer.
Have a prosperous day!
Gabby Huguenin
Wealth Coach
CEO Wealth Classes Coaching, LLC
www.WealthClassesCoaching.com
888-888-3612
By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call!
http://www.wealthbuildingdna.com/blog/asset-protection-strategies/0/0/term-sheets-as-part-of-your-wealth-building-strategy
