Firm Founder, Larissa Bodniowycz, Interviewed on Liz on Biz Podcast About Her Entrepreneurial Journey and “Understanding Legal Stuff in Your Business”
Bold City Legal’s founder and managing attorney Larissa Bodniowycz, a Florida and California licensed attorney, joined the Liz on Biz Podcast (Episode 237) to discuss her journey to becoming an attorney/entrepreneur, why hiring a small business attorney is crucial, and have a little fun along the way.
You can listen to the episode here, or if you’d like to read along, enjoy the following summary of the highlights prepared by our awesome Operations Assistant, Patricia.
Liz on Biz with Liz Teresa E237 – Larissa Bodniowycz – Understanding the Legal Stuff in Your Business Summary:
6:15 - Why did you decide to become an attorney?
Back in high school, Larissa stated that she enjoyed debates which influenced her decision to pursue a career in law. When she was taking her undergrad, she said that she knew she wanted to go to graduate school.
She majored in International Affairs with a business emphasis at Florida State University, and said it was primarily due to the fact that she could then take pretty much any course she wanted. That's when she decided to take the required examinations and apply to law schools in the hopes of being accepted.
14:43 - How did you specialize in these areas of law?
Larissa performed some contract work for other attorneys when she first started her career, which she said was necessary because she didn't have full-time employment in California when she arrived.
She used to do "freelancing in freelance" after passing the bar exams, meaning she would do anything someone would pay her to do.
For example, if someone would pay her to paint the walls, she would consider it. As a result, she gained a lot of attorney clients, allowing her to learn indirectly from them.
She used to perform a lot of litigation and lawsuit work, which provided her a unique foundation for “transactional work,” as they put it. Transactional work is what she does now, which entails creating, revising, and negotiating contracts.
There are always certain last-minute deadlines to meet in litigation, such as a 20-page document that must be completed in 10 days or fewer. She realized that this disrupts her productivity and forces her to stay up late to complete her task. She saw this not just in herself, but also in other senior attorneys. She noted that this is not her ideal lifestyle, which in her opinion is having greater control over deadlines and how she handles her workload.
“What is a practice that leads to a lifestyle that I like where I am not always stressed?” she wondered.
As a result, she began to make decisions on her own that were not dependent on litigation. She started off broad - doing anything she could as long as she was paid, but she soon learned how stressful that lifestyle can be, so she narrowed down her job.
18:20 - Do you have a team that helps you? What’s the inside of your business like?
Larissa is currently working on forming a team to provide more support. Everything is currently contract and project based. She claimed that she used to have a part-time employee, but that she had to quit because she needed to transfer to a larger company.
She's now getting some help with the operations or administrative side of her firm, and she says it's been a huge stress reliever. She confessed that certain administrative tasks are set aside and languish in the back of her mind, waiting to be completed.
She recognized she needed someone to manage this portion of the business for her at that point, and she was astounded at how much of a help hiring someone was.
30:30 - Are templates beneficial for businesses? How do you feel about them?
Larissa believes that there are many circumstances in small enterprises when a contract may be created using a template rather than spending $2000 on one. However, she has observed a few instances when individuals have gotten themselves into trouble.
To begin, just searching something and copying something from someone else's website. As a result, individuals use contracts to give up their rights for a small fee, or they use contracts that are really designed from the perspective of the opposing party. She added that copying and pasting contracts may cause a lot of problems, especially when they aren't well-suited for the business and can even harm them.
Second, someone may purchase a contract but fail to implement it properly, resulting in poor outcomes.
With that stated, she believes that templates have a specific time and place. She believes that templates may be beneficial, but that individuals must be aware of what they are using.
She's now working on expanding the number of DIY legal alternatives available because some things, such as independent contract agreements, are pretty standardized.
She takes the effort to include little audio recordings of her discussing the contract in order to ensure that everyone understands what to do with it.
She also mentioned that she is a huge proponent of having a 30-minute to an hour phone conversation with an attorney before establishing a business so customers may ask legal concerns. This phone conversation may give the business owner guidance and peace of mind, which is why she believes it is necessary and worth the money.
39:41 - When is a business owner ready to hire you? If they are ready to hire you immediately, what’s more important to start with, trademark or contracts?
Larissa believes that hiring an attorney early on is critical in order to avoid problems or make them worse. For both parties, contacting an attorney before facing business difficulties would save time and effort.
On whether trademark or contracts to start with, it depends on the sort of business and its stage of development. She noted that many times, it would begin with contracts - because most firms begin with a customer or obtain clients early on, necessitating the usage of a contract. She highly recommends having something in writing before working with any type of client.
Having a significant IP (Intellectual Property)-based business would be an exception. If someone is selling a product with a unique design that they made, it is a good idea to protect the design before putting it on the market. For these sorts of businesses, prioritizing trademarking might be beneficial.
Click here if you'd like to set-up a strategy session to talk with Larissa about the legal stuff in your business.
