Unleashed - How to Thrive as an Independent Professional

A common question independent consultants ask is what type of entity they should use to establish their practice. In this episode, Jonah Gruda reviews the most relevant aspects of the five types of entities that are most commonly considered: Sole proprietorship Partnership Limited Liability Company S-Corporation C-Corporation For each entity type, Jonah reviews: Formation requirements Liability Exposure Taxation at the entity level Tax rates Tax reporting Compensation Number of owners Self-employment tax Jonah Gruda is a Tax Partner at Mazars and specializes in income taxation, executive compensation and stock option planning, estate and gift planning and wealth preservation. Jonah can be contacted through Mazars or LinkedIn. Download this a comparison of entity types that Jonah and I discuss on the show. Key points include: 01:48: Introduction to the two broad categories of business entities 08:56: The three types of partnerships 12:33: Legal operating agreements 15:11: Overview of limited liability partnerships 18:06: Overview of a limited liability company 27:31: Electing to be taxed as a C corporation 29:55: S-corps and c-corps 43:27: Filing fees Unleashed is produced by Umbrex. For independent consultants interested in joining our global community, visit www.umbrex.com Contact the host, Will Bachman: unleashed@umbrex.com

After years of professional work experience, how do you leverage your knowledge and put it to good use? After a 30-year career as a global strategic business advisor, including 20-years combined as partner at Ernst & Young (EY) and A.T. Kearney, Jeffery Perry decided to found Lead Mandates where, as an independent advisor, he helps organizations improve business and leadership performance. Today, he shares how his experience helped him reach out, connect, and communicate when starting his independent consulting practice. Learn more about Jeffery's company at www.LeadMandate.com . He can be reached through LinkedIn or connect through Twitter. Key points include: 01:46: The strategic steps to building the practice with intention 05:28: The many reasons to serve on a board 09:06: Preparing for the career transition 11:48: Leveraging connections and reputation 15:59: Establishing a pipeline of opportunities 17:09 Joining the board of Fortune Brands 27:38: Establishing multi-dimensional purpose 34:45: A summary of Jeffery's professional experience

Kian Beyzavi, a Venture Partner at Cota Capital, is a seasoned leader in the life sciences. After several years of consulting at McKinsey & Company, a couple of stints as a venture investor and a software entrepreneur, she worked in senior leadership positions at medical device and pharma companies for 10 years. Her recent consulting work is mainly focused on innovation in life sciences, leveraging digital health, patient engagement, services, devices, and diagnostics. Kian holds a PhD in electrical engineering/applied physics from Princeton University, and she has worked Asia, the UK, Europe, and the Middle East. Today she provides insight into the digital health industry, what it is, what it offers, where it's going and how it is changing the interaction between patient, doctor, and health information. Kian can be contacted through LinkedIn. Key points include: 02:02: How people interact with digital health through wearables 05:23: Technology to monitor neurodegenerative disease 10:19: The various categories of digital health 15:06: The main three drivers in digital health 22:57: How regulation is changing 24:26: Kian's background 33:03: Investing in the digital health industry Kian Beyzavi on LinkedIn: https://www.linkedin.com/in/kian-beyzavi-phd-36b1b5/ Unleashed is produced by Umbrex. To inquire about joining the Umbrex community of independent management consultants, visit www.umbrex.com Unleashed is hosted by Will Bachman. Send Will an email at: unleashed@umbrex.com

Daniel Tunkelang, one of the top search relevance consultants in the United States. He is a data science and engineering executive who has built and led some of the strongest teams in the software industry, including Google. Daniel was a founding employee and chief scientist of Endeca, a search pioneer that Oracle acquired for $1.1B. He was also director of data science and engineering at LinkedIn, and he studied computer science and math at MIT and has a PhD in computer science from CMU. So when it comes to understanding how search engines work and search queries, Daniel knows what he's talking about. Today, he shares insights on how search works and how to make it work for you. You can read more about all things search on Daniel's blogs at QueryUnderstanding.com, or, if you need expert consultation, reach out to him on LinkedIn. Key points include: 04:08: How search engines match content to search queries 09:23: How big companies search functions differ from smaller companies 12:21: The search problems companies experience and solutions offered 21:18: The surprising measures companies have used when compiling search data 25:32: How Daniel approaches search data investigation 32:27: Understanding search for staffing situations 36:35: Behind the scenes of LinkedIn's search function 44:31: How to conduct effective search queries

Richard Steel is an entrepreneur, investor, and the author of Elevated Economics, How Conscious Consumers will Fuel the Future of Business. He explains how corporations are moving forward with socially responsible business strategies to meet the demands of stakeholders, with a specific focus on environmental, social, and governance (ESG) issues. Key Points Include: 0:40 - The tectonic shift in investing 02:52 - The total value of ESG assets 03:50 – The next generation of wealth migration 09:30 - Business Roundtable's new statement of the purpose of a corporation. 13:33 - Corporations zero emissions goals 16:40 - The role ESG plays in the company 20:27 - How the conscious consumer finds ESG information Unleashed is produced by Umbrex, the fastest way to find the right independent management consultant for your project. Learn more at www.umbrex.com

Mike Sarraille is a former Recon Marine and retired US Navy SEAL officer with twenty years of experience in Special Operations, including the elite Joint Special Operations Command. He is also the co-author of The Talent War: How Special Operations and Great Organizations Win on Talent. Today, Mike Sarraille is the CEO and founder of of EF Overwatch, an executive search and talent advisory firm, and Talent War Group, a leadership and business management group. In this episode Mike shares his perspective on how to identify and attract top talent. Learn more about Mike's firm EF Overwatch: https://www.efoverwatch.com/ Unleashed is produced by Umbrex, the fastest way to find the right independent management consultant for your project. Learn more at www.umbrex.com

Generally you probably prefer to get paid via ACH or wire transfer, but some clients want to pay using a credit card. Today was my first time accepting a payment for consulting services by credit card, and in this episode I walk you through my experience. I used Stripe to actually collect the payment. To learn about how Umbrex can help connect you with other independent management consultants, visit www.umbrex.com

Have you ever asked someone to do a task, and they agree, only later to find that they didn't understand exactly what you were asking for? In this short episode, I share how the Nuclear Navy uses formal communications to ensure that orders don't get garbled. Unleashed is produced by Umbrex. To learn about how we can help your firm find the right independent management consultant for your project needs, visit www.umbrex.com

If you are setting up a podcast or blog, here are strategic questions to consider. Question 1 is discussed in Episode 344, and Questions 2-5 discussed in this episode. 1. What is my objective? (Covered in Episode 344) 2. Who is my target audience? 3. What content does that audience want? 4. What will be the format of my podcast or blog? 5. What should I name my podcast or blog?

Learn why it is important to define the purpose of your content creation. Explore motivations including skills development, relationship building, marketing, and credibility. Discover advantages like staying connected with your network, clarifying thoughts, and saving time.