Brent Carlson discusses the frequent missteps entrepreneurs make when forming their businesses. Many business owners attempt to save money by skipping essential formalities such as drafting operating agreements, recording meeting minutes, or creating partnership agreements. These oversights can lead to significant risks, including the piercing of the corporate veil, which exposes personal assets to legal claims.

Brent highlights the importance of maintaining compliance to uphold the corporate veil, especially in states with stricter regulations. He emphasizes the need for professional guidance to ensure all documentation and legal formalities are correctly handled. By addressing these common mistakes, business owners can protect themselves from unnecessary vulnerabilities and ensure their structures remain robust and compliant.