Season 1,

75: How to Lose Money by Trusting Your Business Partner with Shawn Yesner

August 19, 2017

Shawn M. Yesner, Esq., is the founder of Yesner Law, P.L., a Tampa-based boutique real estate and consumer protection law firm that helps you eliminate the financial bullies in your life by providing options, so you can live the lifestyle of your dreams. The firm assists clients with real estate law, including litigation, foreclosure defense, short sales, loan modifications, debt settlement, Chapter 7, Chapter 13, bankruptcy, liquidation, reorganization, and landlord/tenant issues, for clients in the Tampa Bay area.

Shawn is a Florida native, born in Tampa and raised in Miami. After graduating from Florida State University with a Bachelor of Science degree in Accounting, Shawn enrolled in the Cumberland School of Law, Samford University, graduating with a J.D. Degree in 1998.

Time Stamped Show Notes

[5:22] After working at a foreclosure mill and it being shut down in 2004, Shawn decided to open his own law firm.

[6:30] In 2006, Shawn partnered with a fresh out of law school attorney growing up to a 4MM a year law firm with over 50 people working with them.

[7:35] Although going through the recession time, Shawn’s law would still be growing.

[9:40] When his partner was going through a divorce, they were now 4 partners and were starting to ask themselves why Shawn has his name first when he wasn’t bringing the highest revenue.

[10:30] Seems like their personal lives were going in different directions and ego was in the way.

[11:55] When they accepted the two new partners the original two gave them 5% each. By now, there was a lot of tension in the office.

[14:04] The other partners had a closed-door meeting and told Shawn that they wanted him out, because the three of them together summed up to the 55% of the firm. So they bought him out.

[15:12] Starting as a single man and now married and with a kid, confrontation was out of the equation in order to get out quickly and not reduce the pot of money to buy him out.

[17:47] Recovering was done quickly as there were some savings and the settlement came fast.

[19:30] Instead of thinking in the could haves, Shawn’s taking what he learnt and moving forward growing something that’s his.

[20:52] Failing Forward Segment

  • What is the bottom line reason of this failure? –  “Because I created a firm and I gave away more than half of it and I put myself in a minority position.”
  • What is the single most important lesson you learned from this? – “Put it in writing.”
  • Who do you turn to when you need help? – “My dad. He was a CPA; pretty much any time I have a major question, a business, a life question, whatever, I pick up the phone and call my dad.”
  • What advice would you give to someone in a similar position? – “The biggest lesson is don’t panic, trust the process, defend yourself.”

[26:33] You can find Shawn’s The Crushing Debt Podcast on all major podcast players, every Thursday, where he talks about various types of strategies to increase income and decrease debt.

[28:37] Shawn’s podcast has listeners in many places but since he’s a Florida attorney, he focuses on specific Florida law. Consumers with debt can benefit from listening to him.

[30:04] Shawn’s final thought: “The main lesson here is it’s never as bad as you think it is and there’s always an option.”

To hear this episode and many more like it on your mobile device, you can subscribe to How To Lose Money via iTunes or Stitcher.

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