Reib Law - October 2020

Reib Law - October 2020

SHATTERPROOF NEWSLETTER

OCTOBER 2020

WWW.REIBLAW.COM | 940.591.0600

I saw this when I worked as a divorce attorney back in the early 2000s. Divorce lawyers could charge couples (who had no other issues) $3,000 to do an agreed divorce. I thought that was silly and decided to start using a value- based pricing system to do the same thing (at what eventually became REIBLAW). Other lawyers would tell me that I wouldn’t be able to make any money that way, but after gaining around 15–20 clients, I proved them wrong. Today, I use a value-based pricing system when I work with our clients because it’s a greater value to them, and they can get the advice they need when they need it.

DOING THE IMPOSSIBLE FOR YOUR BUSINESS WHY REIBLAW SHUNNED THE TRADITIONAL WAY OF DOING THINGS

"SOMETHING SEEMS IMPOSSIBLE ONLY UNTIL IT IS DONE. CONTACT US AT REIBLAW.COM/NLFREE AND WE'LL GIVE YOU THE RIGHT LEGAL ADVICE TO START MAKING YOUR IDEAS POSSIBLE"

When I set out to start REIBLAW, many lawyers told me that I would never be able to make money with a value- based pricing system. The fact of the matter is that like a man whose house is on fire, small businesses need the right advice at the right time when it comes to making decisions that have legal ramifications. So, instead of giving up and listening to what every other lawyer in the business was doing, I decided to find a way to make REIBLAW happen. After having a few business coaches and legal coaches tell me that my idea was impossible, I found out a friend of mine had just started his career as a business and life coach. He was on board with my idea to get a subscription-based legal model for entrepreneurs and business owners to get on-demand business advice, just like the Fortune 500 companies get. He helped me set it up, and that’s helped REIBLAW get the success that it has today. I’m sure many of you have been at a point in your career where you’ve shared a business idea with your peers and friends, only to have it dismissed as impossible. It can be discouraging, but I say, don't give up. Something seems impossible only until it is done. Contact us at REIBLAW.com/nlfree and we'll give you the right legal advice to start making your ideas possible. – Scott Reib

The right advice at the right time can mean the difference between success and failure. Say a friend of yours drives by your house and sees smoke coming out of your windows. If he or she calls you right then and there, you might be able to save your house from burning down. However, if they wait until the next day, or even just until a few hours later, it could mean that you lose your house. Several years ago, it was with this general idea in mind that I decided to switch up the rules and norms that business lawyers generally followed. Most attorneys work on an hourly basis and set their own retainers. Under that system, they can take a simple task that won’t take very much time and up their hourly retainer. Or, they can stretch the task out for as long as they want in order to receive more hourly pay. In any case, getting the advice you need can take awhile to arrive.

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YOU’RE NOT ALONE

LEARN AND GROW WITH A PROFESSIONAL ASSOCIATION

NETWORKING AND MENTORSHIP Why reinvent the wheel when you can adapt it with a mentor? Associations connect you to leaders who have stood where you are standing and succeeded. You can learn a lot from their failures, wisdom, and guidance. You can also connect with peers in your position and bounce ideas off of them. You won’t have to worry about competitors “stealing” your processes, and you have an honest, go-to support team to help you refine them before presenting them to your team. PERSONAL DEVELOPMENT AND GROWTH A business is only as good as the leader managing it, and all business leaders have room for improvement. An association can give you the tools to get there. And as you continue to learn, you’ll discover personal and professional areas that can be further refined. This personal development only makes you and your business stronger. Are you still not convinced you should join an association? Think of it this way: Your competitors could be growing through their involvement in an association while you remain stagnant. Push forward and connect with your peers today.

Business is competitive by nature. If competitors didn’t push our favorite brands to be better, they may not even exist. Our technology options would be limited without Apple’s ingenuity. Shipping options would be limited without UPS or FedEx. And access to our favorite athletic gear would be more limited if no one was pushing the top brands like Nike to innovate. Competition fuels our greatest inventions, but behind every great leader or business is a core network of like-minded people and innovators supporting them. Professional associations connect business leaders to fellow innovators in their industry without competition from local rivals. These organizations offer many benefits and little risk to business leaders looking to grow. If you haven’t yet joined a professional association, these three benefits just might get you to change your mind. EDUCATION AND RESOURCES Google is great for a quick answer, but when you need to learn something more nuanced, a simple internet search won’t cut it. Professional associations offer tailored, more in-depth help and resources like industry-specific training and webinars, how-to guides, and coaching. From peer advice and education to scholarly studies and reviews, associations act as a library of information for your industry.

BIZ TOOL OF THE MONTH: EVERNOTE ALL YOUR NOTES, FROM EVERY SOURCE, IN ONE PLACE

these essential functions, making up for any areas where the human brain may struggle with the rate at which new information must be processed. Evernote is completely customizable to your note-taking style and needs. You can seamlessly share notes between devices, search for previous notes without a problem with their robust search engine, and even connect to your notes without an internet connection. There are options for saving web resources, linking to docs and PDFs, and even searching for and identifying handwritten notes. Whether what you need to remember is on a physical sticky note or a hard-to- find webpage, you’ll be able to access it all through Evernote. I particularly love the convenience of having my notes available on all of my devices so that in the middle of a meeting, if I don’t have my phone on me, I can pull up my notes on my work computer. It certainly beats writing everything down with a pen and paper! So, if you’re overwhelmed by the amount of information you have to keep track of, there’s no better tool to utilize than Evernote.

The sheer breadth and depth of information that we can access through any device connected to the internet is nearly incalculable, and the rate at which that access is growing is only accelerating. If a part of your job is keeping track of large amounts of information, you need a tool that can help you keep up. When that’s the case, try Evernote.

Evernote is the perfect tool for all the obsessive note-takers out there who want to access all their notes and information with ease, no matter the device, the source of information, or whether you have internet access. If you have a piece of information you need to remember, Evernote will make sure that happens. According to Evernote’s website, founder Stepan Pachikov recognized that the human brain has three basic capabilities: remembering the past, building connections, and creating new ideas for the future. Evernote acts as an extension of

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WHY YOU SHOULD ALWAYS UPDATE YOUR ESTATE PLAN

YOUR FAMILY’S PEACE OF MIND IS PRICELESS

elements, as easy as possible for your family. That’s why you should always update your estate plan whenever necessary.

Many people assume that after they pass away, their family will be able to come together and discern the best way to carry out final wishes. However, this is rarely the case. When people are grieving, it’s much harder to think straight and agree on the best way to act on any vague or outdated final wishes. That’s why one of the most loving things you can do for your family before you pass away is ensure that your estate plan is up to date and has clear instructions for your executors and beneficiaries. Even if your estate plan doesn’t contain millions of dollars worth of assets, it’s still worth the time and effort to keep it up to date, if only because you know that by doing so, it will bring your family peace of mind while they grieve. Whatever the value of your estate, the peace of mind and security an up to date estate plan provides is priceless to those you leave behind. Visit

While in the past estate planning may have been a tool used by the rich to preserve generational wealth, that is simply not the case anymore. The latest sign of this came at the beginning of 2020, as new tax regulations made all estates worth less than $11.58 million for individuals ($23.16 million for couples) exempt from the estate planning tax. With most people’s estates not being worth enough to qualify for the estate planning tax, the hurdles for estate planning are now less financially oriented and more human oriented instead. The focus is now on ensuring that your plan will make the distribution of assets, change of guardianship, and other

us at REIBLAW.com/nlfree today to set up a review.

SPOOKY STRAWBERRY GHOSTS

We want your feedback! In editions of this newsletter, we’ve covered everything from business contracts to how to handle the former spouse who wound up with everything because there was no business succession plan in place. But now we’re wondering: What would you like to see? You know those legal questions that Google can’t give you a satisfactory answer to? The ones that keep you up at night as you wonder whether it’s time to call a lawyer? We want to answer those. Send us your questions, and we’ll use them to address the topics you want to know more about. Text your questions and curiosities to 972.677.3002 .

Inspired by Candiquik.com

INGREDIENTS

• 16 oz white chocolate, chopped

• 24 strawberries

• 1 package mini dark chocolate chips

DIRECTIONS

1. In a microwave-safe bowl, heat the white chocolate at 50% power for 30 seconds. Remove it and stir, then repeat the process until melted.

2. Lay out a sheet of parchment paper.

3. One by one, dip the strawberries into the melted white chocolate and set them on the parchment. Allow the extra chocolate to pool to form a “tail” effect. 4. Before the chocolate coating fully cools, add three mini chocolate chips to each berry to form two eyes and a mouth.

5. Let chocolate set, then serve your spooky snacks!

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WWW.REIBLAW.COM | 940.591.0600

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Doing the Impossible for Your Business INSIDE THIS ISSUE 1 2 2 3 3 4 Biz Toll of the Month: Evernote Why You Should Always Update Your Estate Plan Spooky Stawberry Ghosts This Issue: Discover ‘The Art of Learning’

Join a Professional Association and See Your Business Grow

‘THE ART OF LEARNING’

A CHILD PRODIGY RETHINKS SUCCESS This is a book about a journey. It

prodigies are exceptional — exceptions who operate on a different playing field than most. But Waitzkin firmly positions his journey through the chess world as the antithesis of what he calls “the art of learning.” As the author states, “The moment we believe that success is determined by an ingrained level of ability as opposed to resilience and hard work, we will be brittle in the face of adversity.” Waitzkin was very gifted at chess, and he didn’t have to push himself early on, but by the time he did find challenging opponents, he found loss and adaptation impossible to handle. It wasn’t until he stepped out of the rigid grids of chess and into the flowing movements of tai chi that Waitzkin was able to formulate a guide to success. Appropriately subtitled “An Inner Journey to Optimal Performance,” Waitzkin’s story of grappling with childhood stardom and climbing the brackets of the tai chi chuan circuit is full of wisdom applicable to anyone looking to achieve mastery in their field. With compelling personal anecdotes and a unique perspective on what success really looks like, “The Art of Learning” is a fresh, vibrant addition to the personal development genre.

chronicles a life of international chess tournaments, high-stakes martial arts competitions, a boy who found too much success, and the man who had to relearn everything because of it. Yes, “The Art of Learning” reads like a gripping, emotional memoir, but make no mistake, Josh Waitzkin’s work doubles as an effective guide for business owners striving to attain perfection in their fields.

Josh Waitzkin’s name will be familiar to longtime chess fans and movie buffs alike. As a child prodigy, Waitzkin won his first national chess title at age 9, which quickly made him an international sensation. His father, Fred Waitzkin, wrote the renowned book “Searching for Bobby Fischer,” chronicling his young son’s journey into the world of chess. This then inspired the movie of the same name.

Now, one does not normally think of child prodigies as being great sources of insight into finding success. By definition,

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