Point Of The Story

Stop Getting Fucked by Your Own Business with Braden Adam Drake

Jul 24, 2025
Braden Adam Drake, attorney and founder of Not Avg Law who helps small business owners with legal and tax compliance. He talks about separating business and personal finances, avoiding the “oh shit” cycle of back taxes, correctly classifying team members, automating tax savings, and protecting your brand with trademarks, insurance, and solid contracts.
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ANECDOTE

Flipped A Collectible To Crush Debt

  • Braden sold a collectible Le Creuset Cosmos brazier on Facebook Marketplace for $1,000.
  • He bought it for ~$350, never used it, and put proceeds toward his car loan to accelerate becoming debt free.
ADVICE

Use A Dedicated Business Bank Account

  • Do open and use a separate bank account for your business finances.
  • Braden Adam Drake says mixed personal/business accounts force costly manual reconciliation when accountants/bookkeepers review transactions.
ADVICE

Correctly Classify Employees Versus Contractors

  • Avoid misclassifying workers; many contractors should legally be employees.
  • Braden explains proper classification reduces audit risk and clarifies IP ownership and day-to-day control expectations.
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