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APRIL 2024
Taking Risks and Reaping Rewards Curt’s Guide to Embracing Risk in Business
As an attorney, I’ve always believed in the power of taking chances. April 23 is National Take a Chance Day, and reflecting on my career, I realize just how many risks I’ve taken, especially in my business decisions. From pushing the limits to making radical changes, I’ve learned that embracing risk and welcoming change are often the keys to growth. One of the biggest chances I ever took was back when I first started practicing law in 2004. Despite having job offers with guaranteed salaries, I decided to work with Mr. Douglass on an “eat what you kill,” commission-only pay structure. At the time, it was a pretty big risk considering there was no pre-existing relationship with Mr. Douglass and I was a baby lawyer. I remember feeling uneasy about it at the time. I had no idea if I would make any money at all and remember writing out a budget that accounted for just the basic expenses: rent, health insurance, food, gas, utilities, and my cell phone. I just figured that if I couldn’t pay my bills, I’d just go work somewhere else and get a salary like all my other law school classmates. Luckily, my decision paid off and I haven’t changed jobs yet! In fact, I’m still practicing law in the same exact building as on my first day at the office in April 2004. Over the years, as our firm grew, I continued to take risks and approached them with the same mindset. I remember when I brought in my first associate lawyer in 2012 and stopped handling criminal defense matters. Then, in 2014, I brought in another young lawyer who handled exclusively family law cases so that I could devote more attention to probate, estate planning, and business law. It was a risk to give up cases in familiar practice areas that used to pay my bills, because the lawyers could leave and take all my business, but I didn’t worry about that because the additions of the lawyers allowed us to expand our services
and reach more clients. Then, in 2021 when things were becoming too disorganized and felt like the law firm was slipping in the level of service I knew our clients deserved, I made a commitment to invest in professional coaching, hired a fractional C-Suite, and overhauled the entire practice. In April 2021, I informed all the lawyers in our practice who were commission-only contract lawyers at the time, that effective January 1, 2022, they would become salaried employees if they wanted to remain in the practice. This decision was painful on both a personal and professional level, and I knew the risks involved — increased payroll, uncertainty about revenue, the loss of clients, and the loss of lawyers with whom I was very close and who worked closely with me for years — but I truly believed the change and risks associated with the change were necessary and would benefit our clients and the firm. It was this risky change that sparked our explosive growth and resulted in our recognition as the 14th fastest-growing law firm in the U.S. according to the Law Firm 500 list in 2023. But more importantly, the change allowed us to deliver our clients a higher level of service. I’ve always had this drive and internal belief that I could accomplish whatever goals I set as long as I remained truly committed to them. I think this mindset gave me the confidence I needed to dive into risks. An abundance mindset guided me through the stressful moments and the rewarding outcomes. Every time I’ve failed, I’ve learned to fail faster the next time, and for the most part, I’ve avoided making the same mistakes. I’ve always leveled up after humbling mistakes and learned to have a short memory as I continue to move forward and bet on myself and my team.
give things time, to operate with an abundance mindset, and to always provide value to my clients, colleagues and team. I’ve learned that there will always be problems, but that there cannot be a problem without simultaneously being opportunities. It’s up to me to see the opportunities instead of dwelling on problems and to seize the opportunities and keep moving forward. As I continue to grow and take on new challenges, I’m reminded of a quote that resonates with me: “You miss 100% of the shots you don’t take.” I’m grateful for the chances I’ve taken and excited for the ones that lie ahead. It’s important to recognize that taking risks in business isn’t always easy. It can be stressful, and there are no guarantees of success. However, I’ve found that the rewards far outweigh the risks. By betting on myself and my team, I’ve been able to achieve success beyond what I ever imagined and in the process help hundreds of people. There have been moments of doubt and uncertainty where I questioned whether I was making the right decisions. Even moments when my wife thought I was crazy! However, I’ve learned that failure is not the end — it’s simply an opportunity to learn, grow, and try again. Looking back on my journey, I’m proud of the risks I’ve taken and the growth I’ve experienced. Each chance I’ve taken has led me closer to my goals and helped me become the attorney I am today. I’m excited to see what opportunities lie ahead and confident that I have the skills, mindset, and determination to succeed. And on April 23rd, I’ll probably spend some time reflecting on those new opportunities!
Throughout my career, I’ve learned valuable lessons from the risks I’ve taken. I’ve learned to
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THE ALLURE OF HOT SPRINGS
EARTH’S GEOTHERMAL WONDER
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Radiant Skin: Nitrogen, silica, and other minerals are excellent for exfoliating skin. Less Stress: As the warm water melts stress away, the magnesium and lithium improve your mood. Pain Reduction: Sulfate helps reduce pain, while hot water soothes muscles and reduces inflammation.
Soaking in the heated waters of a hot spring is an experience you’ll want again and again once you try it. And there is much more to this geothermal wonder than meets the eye. The naturally heated, mineral-rich water nourishes the body and mind, allowing you to shed stress as you easily float on the surface. HOW HOT SPRINGS WORK Hot springs are heated by geothermal energy. Water meets volcanic hot rocks, resulting in boiling mineral-rich water. Regions far away from volcanic activity can also have hot springs; those occur when a spring runs so deep that it hits rocks close to the Earth’s crust. These rocks are naturally very hot, which then heats the water. HOW MINERALS AND HEAT IMPROVE YOUR HEALTH The water in hot springs contains a plethora of minerals, so the water can be healthy and
rejuvenating, providing benefits for your skin, cardiovascular system, and more. Every spring has a unique mineral makeup and varied health effects, but here are four of the most common.
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Improved Blood Circulation: Minerals like calcium, iron, and sodium bicarbonate are great for blood circulation, as they promote oxygen flow.
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WHERE YOU CAN FIND HOT SPRINGS The western part of the U.S. has a higher concentration of hot springs, but if you look hard enough, you can find one anywhere. Some hot springs are deep in the mountains, so you’ll have to hike in. They often have specular views and are worth the journey. If you don’t want to trek up a mountain, you’ll find many spas built around hot springs that offer amenities besides the spring, such as restaurants and saunas. So, the next time you’re traveling, locate the hot springs in your area and put a visit on your itinerary!
The Power of Plenty
TRANSFORM YOUR BUSINESS WITH AN ABUNDANCE MINDSET
FOCUS ON LONG-TERM GROWTH. Rather than fixating on immediate gains, an abundance mindset prioritizes sustainable, long- term growth. It involves setting visionary goals and being open to evolving business models and strategies to achieve them. Adopting an abundance mindset can revolutionize the way you approach your venture, transforming challenges into opportunities for growth. It requires a shift in perspective, but the rewards — innovation, resilience, and exponential growth — are well worth the effort. When you embrace abundance, you can unlock your full potential and in some cases, this may lead to changes in your business. Should you need legal counsel to tackle these changes, whether it’s starting a new business or expanding your current business product or services, you need an experienced law firm on your side. At Douglass & Runger, we love working with businesses, so feel free to contact us at 901-388-5805 should you need guidance.
For business owners, how you view challenges and opportunities can profoundly impact your venture’s trajectory. One transformative perspective is the adoption of an abundance mindset. This approach, contrasted with the limiting scarcity mindset, opens the door to exponential growth and innovation. But what exactly is an abundance mindset , and how can business owners harness its power? WHAT IS AN ABUNDANCE MINDSET? First created by Stephen Covey, the author of “The 7 Habits of Highly Effective People,” an abundance mindset is rooted in the belief that there are enough resources and successes to share with others. It’s characterized by a focus on possibilities and opportunities rather than limitations and obstacles. This perspective encourages openness, creativity, and positive thinking, which can create a more expansive approach to business strategy and operations. For business owners, shifting from a scarcity to an abundance mindset means moving from a “zero-sum game” mentality, where one person’s gain is another’s
loss, to embracing the potential for mutual growth and success. Here’s how you can adopt this perspective.
CULTIVATE GRATITUDE AND GENEROSITY. Begin by acknowledging and appreciating what you already have. Gratitude shifts focus from what’s lacking to the abundance present in your life and business. Coupled with generosity, such as sharing knowledge or resources, it encourages a positive business culture. EMBRACE RISK AND INNOVATION. An abundance mindset sees failures and setbacks as opportunities to learn and grow. It encourages taking calculated risks and innovating, understanding that the path to growth involves navigating uncharted territories with confidence and optimism. INVEST IN RELATIONSHIPS. Building strong, collaborative relationships with employees, customers, and other stakeholders is central to an abundance mindset. Viewing others as partners in success rather than competitors or obstacles can lead to synergistic growth and opportunities.
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The Risk of Giving Up Too Soon As an entrepreneur, the pressure to see immediate results can sometimes be overwhelming. This urgency often leads business owners to a critical juncture: the temptation to “jump ship” or scrap projects prematurely, driven by fear rather than strategic consideration. However, the key to enduring success lies in the balanced art of short and long-term planning, allowing for the cultivation of patience and persistence in the face of uncertainty. WHY DO WE RUSH TO SCRAP PROJECTS? The inclination to abandon projects at the first sign of trouble is a natural reaction to fear — fear of failure, fear of loss, or even fear of the unknown. Yet, it’s important to remember that most successful ventures were not built overnight. They required time, perseverance, and, most importantly, the courage to continue despite the odds. Abandoning projects too early not only forfeits potential opportunities for success but also stifles learning and growth that come from navigating through challenges. As you embark on new projects, the best way to prevent this fear is by creating short and long-term plans. SHORT-TERM VS. LONG-TERM PLANNING Short-term planning is essential for managing day-to-day operations, setting immediate goals, and responding to unforeseen challenges. It offers the flexibility to adapt quickly, a crucial trait in today’s ever-changing market. However, it’s the integration of long-term planning that transforms transient victories into sustained growth. Long-term planning encourages business owners to set their sights on broader horizons, envisioning where they want their business to be in the future and mapping out the strategic steps to get there. Whether it’s for tomorrow or the next five years, planning allows you not just to reach your goals but also to prepare for all the potential pitfalls that come along the way. When you know all the possible challenges ahead, you can face them confidently and strategically. Instead of jumping ship at the first sign of disaster, you can be proactive and work toward a solution that keeps your project from coming to an untimely end. The synergy between short and long-term planning forms the backbone of a resilient business strategy. It enables business owners to navigate the ups and downs of entrepreneurship with confidence, steering their ventures toward lasting success. Remember, patience and persistence are your allies. Avoid jumping ship too hastily; the breakthrough you seek may just be on the horizon. Part of planning for business owners involves assembling a legal team to minimize risk and protect owners from personal liability in the event the planning fails for whatever reason. If you need a consultation about a business project and the planning of the project, the experienced business lawyers at Douglass & Runger are here to help. Give us a call at 901-388-5805 to set up a strategy session with one of our lawyers.
Scallops and Spring Vegetables With Olive- Caper Pan Sauce
Inspired by EatingWell.com
INGREDIENTS • 2 tbsp extra-virgin olive oil, divided • 8 oz sea scallops, tough side muscle removed • Pinch of ground pepper • 8 oz asparagus (1/2 bunch), trimmed • 6 oz baby carrots, halved lengthwise • 1 medium shallot, minced
• 5 pitted green olives, coarsely chopped • 1 tbsp capers, chopped • 1 clove garlic, minced • 1/4 cup dry white wine • 1 tbsp butter • Chopped fresh parsley to garnish
DIRECTIONS 1. In a medium nonstick skillet over medium-high heat, add 1 tbsp oil. Pat scallops dry and sprinkle with pepper. Add scallops to pan and cook, flipping once, until browned and just cooked through, 1 1/2–2 minutes per side. Set aside. 2. In the pan, add remaining 1 tbsp oil, asparagus, and carrots and cook, stirring frequently, until tender, 2–3 minutes. 3. Add shallot, olives, capers, and garlic and cook until fragrant, about 1 minute. 4. Add wine and cook for 1 minute. Remove from heat and add butter; stir until melted. 5. Place veggies next to scallops, then drizzle with pan sauce. Serve with parsley if desired. INSPIRATION “If you carry joy in your heart, you can heal any moment.” —Carlos Santana
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2820 Summer Oaks Drive Bartlett, TN 38134 901-388-5805 www.DouglassRunger.com
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1 The Path to Success Through Risk-Taking 2 Discover the Healing Wonders of Hot Springs Abundance Mindset Revolutionizes Business Success 3 Why Patience Pays Off in Business Strategy Scallops and Spring Vegetables With Olive- Caper Pan Sauce 4 Lesser-Known Facts About High Blood Pressure Inside This Issue
Surprising Facts About High Blood Pressure SEPARATING FACT FROM MYTH
LIFESTYLE HAS A HUGE IMPACT. It shouldn’t be surprising that diet is a primary contributor to high blood pressure. Sodium, in particular, is detrimental to cardiovascular health, so reducing sodium intake is essential for those pursuing a heart-healthy diet. Processed foods, especially those with sodium nitrates like beef jerky, are especially harmful. Meanwhile, potassium lowers blood pressure by relaxing arterial walls. Bananas, spinach, and avocado are excellent sources of potassium. Getting enough sleep every night is also essential for those seeking a healthier heart. Besides getting enough hours in, you must follow sleep hygiene protocol just before bedtime, such as avoiding cellphone and tablet screens, refraining from caffeine, and abstaining from alcohol. The reality is that everyone is susceptible to high blood pressure, including young people. So, when you have your blood pressure measured,
Blood pressure is a vital metric in determining heart health. Nearly half of all American adults have high blood pressure, or hypertension, making it one of the biggest threats to the nation’s health. A crucial tool in the fight against high blood pressure is education. There are many interesting facts about this common condition; knowing them can help you make the right lifestyle choices and moderate your risks. THE NUMBERS CAN BE MISLEADING. Blood pressure readings can vary depending on many factors. Some results have nothing to do with health at all: Merely talking during the test can raise your blood pressure as well as tight clothing, anxiety, and your sitting position. And here’s the kicker: High blood pressure doesn’t usually have symptoms. Some refer to it as “the silent killer” because it can be undetectable and dangerous. As a consequence, a substantial portion of people with hypertension don’t know they have it, especially younger people.
dress comfortably and relax. Understand that many variables can impact your results. We know high blood pressure can damage many essential organs, from the liver to the kidneys. It leads to heart attacks, strokes, and an array of other life- altering issues. So, arm yourself with knowledge so you can mitigate the risk or reduce its impact.
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