Friendship to LLC: Kristen and Kelly on Business Partnerships

Welcome to Episode 101 of the Create Your Own Economy Podcast, titled "Friendship to LLC: Kristen and Kelly on Business Partnerships." In this episode, host Bunmi Ajibade dives deep into the unique journey of Kristen Santamaria and Kelly Smith, seasoned corporate attorneys with over 20 years of combined experience. Their extraordinary story spans from a first-grade friendship of nearly 30 years to the successful formation of their business, Dotted Lines.

Kristen and Kelly share how they seamlessly transitioned from lifelong friends to business partners. They emphasize the importance of protecting personal assets and structuring a solid business foundation through the formation of a limited liability company (LLC). They also discuss the crucial role of clear communication, decision-making, and conflict resolution in maintaining both a thriving business and a healthy friendship.

The episode highlights the essentials of discussing work styles, handling disagreements, and planning exit strategies before launching a business venture with a close friend. It showcases how respect, open communication, and a good sense of humor have been the cornerstones of Kristen and Kelly's partnership. Additionally, they talk about their website, legal resources available for new entrepreneurs, and upcoming programs designed to provide valuable guidance.

Listeners will find this episode particularly enriching, whether they are considering starting a business with a close friend or seeking practical legal advice. Kristen and Kelly’s insights perfectly blend friendship and entrepreneurial wisdom, demonstrating the art of balancing personal ties with professional success.

 

Key Moments: 

00:10 Christine and Kenny advise on legal matters.

07:32 Entrepreneurs create accessible legal education and protection.

10:55 "We complement each other well legally."

14:16 Initial communication is crucial for successful relationships.

15:33 Getting to know work ethic of friend.

19:47 Diverse perspectives contribute to trust and respect.

25:24 Self-criticism hinders decision-making, especially in partnerships.

28:06 Importance of considering professional dynamics with friends.

32:08 Increased contact brings challenges and benefits.

35:02 Close bond, communication key for business success.

 

About the Guests: 

Kristin:
After nearly 9 years in law, Kristin's life took a transformative turn when she faced secondary infertility and recurrent miscarriages. This personal struggle led her to explore functional nutrition, ultimately becoming a Nutritional Therapy Practitioner. Today, Kristin empowers women facing fertility challenges, finding joy in helping others while embracing the freedom of entrepreneurship.

Kelly:
With a background in law at a prestigious international firm, Kelly transitioned to becoming General Counsel for small to mid-sized companies. Her role as a strategic business partner has seen her tackle diverse legal challenges across industries like real estate and healthcare. Kelly takes pride in understanding business owners' real-world struggles, helping them confidently navigate legal complexities.

Website: https://www.dottedlinesco.com/

Instagram: https://www.instagram.com/dottedlinescontracts/

 

About the Host: 

Bunmi Ajibade is the CEO, Executive Trainer, and Coach of Clarole Growth Resources, LLC. She impacts the lives of individuals, groups, and corporations through Coaching, Training, and Mentoring. Bunmi’s strategies include Creating Awareness, Clarity, and Navigating to be more and do more to achieve success. Through her love, passion, care, and empathy, Bunmi has helped her clients navigate, gain clarity and find solutions that will make them live their best lives and become successful. Bunmi has organized workshops, Seminars, led Leadership discussions, and conducted one on one coaching sessions. Bunmi is happily married and raised three successful sons. She resides in Texas, USA. 

 

How to connect with Bunmi Ajibade: 

Website: https://clarolegr.com

LinkedIn - https://www.linkedin.com/in/bunmiaj/

Facebook Page - https://www.facebook.com/Clarole14

Book a call with Bunmi - http://clarolegr.com/meet