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LayRoots

Asset Protection | Live More Carefree

#SXSW

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Business Owners Drinking with Lawyer-Humans – Ep. 03

Strangers in a Strange Land

This episode is coming to you from a real life microbrewery in Austin, TX!  My first introduction to Strange Land Brewery was meeting Tim Klatt through a friend during SXSW.  We went to his house, met his lovely family, and made us a platter of various pickled vegatables (sold as Hat Creek Pickle Company) and gave us tastes of beers-in-the-making.  SXSW is a magical time in Austin and this was certainly a standout moment.  I’m not a big pickle person, in general, but I can get into some pickled okra or some of the Texas Kraut that they make.

I was very excited about the beers because, as we talk about, they don’t conform to the over-hyped IPA’s. They just brew some really tasty beer.

Before we sat down to talk, I insisted on visiting the tasting room which is attached to the brewery and getting a tour of the facilities.  I used to be a chemical engineer (and still claim to be sometimes) so I can nerd out over the vats and batch processes and equipment used to make beer.  We don’t really talk about that on camera, but the tasting room was hopping (no pun intended), and I made a friend while sitting at the bar.

I got to try the Alemania, the Ploughshare Saison, a honey mead scotch ale blend, and then the Belgian Trippel.

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On camera, we drank the delicious Belgian Trippel at [10:30] in the morning – breakfast of champions.  Check out more pictures below the video.  And if you’re ever in Austin (like for SXSW), grab a burger at Hat Creek and get some beer from Strange Land Brewery.

 

 

 

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By the way, if you know of any cool business owners who might want to be interviewed or just have general feedback, let me know at shreya@layroots.com.

Holla at me on Twitter (@layyourroots), Instagram (@shreyley), or through our Facebook page (www.facebook.com/LayRootsLegal).

 

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“Always Bet on Yourself” – SXSW

At SXSW during the “crossover” day (crossed over from interactive to music), I went to a panel about Alternative Funding.  I *thought* the panelists were going to talk all about crowdsourcing; however, it ended up talking about how it is always more lucrative to “bet on yourself.”  Meaning, as an artist, they suggested to work your butt off, don’t take money up front, and ask for more royalties.

Their reasoning is that you and your fans will promote your album far more effectively than the label will.  Also, you will get more money in the end by assuming that you will successfully sell and promote your album.  That is the key, though.  You will need to work your butt off to sell and promote your album.  It’s really an incentive.

This mindset also applies with patents and trademarks, though.  If an inventor or business person wants to license or sell their patent or trademark, then it can pay to “bet on yourself.”  It also, however, pays to truly evaluate your ability and willingness to do the work necessary to reap that reward.  Is it more worthwhile to you to receive a smaller monetary value for your software, your invention, or your logo/branding package so that you can move on to the next thing, not deal with any administrative tasks, and not be responsible for any possible failures with the device or promotions?  OR does your confidence and passion for what you created instill a willingness to wait, do the administrative tasks necessary, and make any sacrifices?

The panel had a lot of examples of artists who have made it big by betting on themselves.  However, they also recognize that many artists, and I recognize that many business owners or innovators, have a very real need for cash to pay bills.

It’s a tough decision to make and your investors (family, friends) or attorney can definitely weigh in.  However, in the end, it is YOUR decision because they will not necessarily be doing the work for you.

As proof that we put our money where our mouth is, we are going all in.  We will be spending a LOT of time (read: most of our time) in Texas for the upcoming months because we are betting on ourselves in a new, monetizing-patent adventure.