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February 2023
THE TOP 3 CHALLENGES BUSINESSES FACE IN 2023 Do You Know How to Overcome Them?
Each year brings its own set of opportunities and challenges for business owners. Usually, these trends are dictated by new laws, the economic landscape, and the political party in power. We’re only a few weeks into 2023, but I’ve already noticed new challenges cropping up! If you’re not already facing one of these hurdles in your business, you might soon. Let’s talk about how to solve each problem. Challenge No. 1: Economic and political uncertainty. We’re currently in an inflationary economy, and some parts of it are also threatened by a recession. Our political climate is uncertain, too. (If you have doubts about that, just look at the recent election for Speaker of the House!) These concerns always exist, but 2023 has brought its own unique blend of worries. How to Overcome It: To stay strong in the chaos, you need to return to the core of your business. Look for your guiding light: the reason your company exists and its purpose in the world. Once you’ve examined your core values and defined that guiding light (also known as your “why”), you can hold firm in the face of new and sometimes conflicting information and make your decisions wisely. As you go through this process, remember that your guiding light must be authentic — you can’t find your why by copying someone else’s — and it must be honest. Don’t worry if the conclusion you come to sounds selfish. Here at our firm, we’re unapologetic about the fact that we’re a for-profit business; what matters more is the way we generate profits by providing tremendous value to our clients! In addition to your guiding light, you should also seek help from a guide who has steered their own business or the businesses of others through similar economic and political storms. They can work closely with you to identify upcoming challenges and help you respond. Many of our clients at Sierra Crest Business Law Group rely on us as that guide. They check in with us every 30–90 days to discuss their challenges. If you’re interested in that support, consider using our Concierge Legal Protection Plan as a resource. Challenge No. 2: Lawsuit-happy competitors who will put your (and your spouse!) at risk. The tighter the economy gets, the more aggressive businesses, customers, and vendors become. This year, folks will quickly point fingers at each other and instigate lawsuits. These suits may even reach beyond your business and become personal, involving your spouse.
How to Overcome It: Invest in strong liability protection. If you operate your business as a sole proprietorship, you should immediately transition it to a limited liability company (LLC) or corporation. This will separate your personal and business assets and protect your spouse. If you have more than $1.5 million in assets to protect, you should also consider placing them in a Nevada Asset Protection Trust to shield them from future creditors. My team can help you with both of those things. Lastly, I recommend scheduling an appointment with your insurance broker. You might be surprised at the gaps in your coverage and how easy it is to close them. Challenge No. 3: Increasingly obvious fraud and misconduct. Just as receding water in Lake Mead exposed hidden bodies, lean economic times will expose employee misconduct and unsustainable practices lurking under the surface of your business. This year, you may discover your investments have been mismanaged or a staff member was embezzling funds. How to Overcome It: If you discover fraud or misconduct, call your attorney immediately so you can rectify the situation as soon as possible before a statute of limitations kicks in. Some people have
shame when they discover they may have been defrauded. Other people blame themselves. Don’t be that person. Call us so we can have a rational and confidential discussion about it. You can reach my team at 775-448-6070.
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Yes, Habit Tracking Actually Works! The Easy Way to Stay Motivated
Back in the 1980s and ’90s, almost every sports movie included a training montage — and no montage was complete without a giant paper calendar hanging on the hero’s wall. As time ticked by and the big game or contest approached, the hero crossed the days out one by one. Each square was a success, and it was another day of training down! It sounds silly, but according to habit expert and “Atomic Habits” author James Clear, that giant calendar isn’t just movie magic. It actually works! For some people, tracking their habits — literally writing down their successes and failures in order to keep a record — is an effective way to build and stick with new routines, like New Year’s resolutions. In his book, Clear writes that habit tracking works because it makes a particular behavior “obvious, attractive, and satisfying.” Tracking our habits in a visible place (like a calendar on the wall) reminds us to keep our “streak” of good behavior alive and holds us accountable if we mess up. It also just feels good to cross a square off of the calendar.
motivated to continue down that path. In this way, habit tracking can have an additive effect on motivation. Every small win feeds your desire.”
You don’t need to use a ’90s calendar to track your habits in 2022. Instead, Clear recommends leveraging technology to make tracking as easy as possible. If you want to build
better spending habits, put your credit card statements (which track your spending automatically) front and center. If you want to take more steps each day, buy a Fitbit so you don’t have to count them. That said, if you go the pen-and-paper route — or prefer an Excel spreadsheet — Clear suggests tracking your habit immediately after you finish it. That way, you’ll associate your positive behavior with the rush of satisfaction you get from checking a day off the calendar.
“The most effective form of motivation is progress,” Clear explains. “When we get a signal that we are moving forward, we become more
To learn more about Clear’s methods and download his free Habit Tracker Template, visit AtomicHabits.com/tracker.
Even War Couldn’t Hold These Players Back A Ukrainian Soccer Team Finds a Home
A bright spot is burning in the middle of the darkness brought on by the Russia-Ukraine War: the Shakhtar Donetsk soccer team. Since the war began, its players have provided entertainment and modeled resilience for Ukrainians caught in the middle of the conflict. They continue to play and win, even though their team has been “homeless” for almost 10 years.
This perseverance paid off. In a way, Shakhtar Donetsk finally found a home last year: The team qualified for the UEFA Champions League, placing them among the best soccer teams in the world. It was quite a feat for the underdogs, largely because they beat and later tied the powerhouse team Real Madrid along the way!
“Our challenge was to make the impossible possible,” the Shakhtar Donetsk coach, Igor Jovicevic, told ESPN.
According to ESPN, Shakhtar Donetsk hasn’t played on its home turf since 2014. That year, Russian-backed separatists forced the players to flee Donetsk and leave behind their beloved stadium, Donbass Arena. Things have only gotten worse since then.
This month, Shakhtar Donetsk will keep doing the seemingly impossible in the Europa League. Team captain Taras Stepanenko told ESPN that continuing the play will “show our defiance, our spirit.” Stepanenko’s village is in ruins, but he still dreams of going home to Donbass Arena — which the Russians are likely using to store weapons. “It is my biggest dream to go back to the arena and play,” he said. “I have thought about it since we moved from Donetsk. Maybe I won’t be a footballer anymore when we go back, but I will play as a veteran, as an old man. The club can organize a charity match, invite all the legends, and we can fulfill our dream. But I am confident it will happen.”
“For the past eight years, Shakhtar has led a nomadic existence … playing home games in Lviv (750 miles away), Kharkiv (190 miles), and Kyiv (450 miles),” ESPN reported.
And yet, the team continued to succeed! Nothing could hold them back from competing. In 2022, they lost 15 of their best players to the Ukrainian military and had to suspend a game because of an air raid. They simply replaced the missing soccer stars and moved forward.
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MEET THE TEAM MAUREEN MCCUE
What’s your go-to guilty pleasure?
Do you think you’ll stay in your current gig awhile? Why or why not? Yes. God willing (and Jerry and Bianka and Rita and Katlyn, etc.). I love this job! It is challenging without being overly stressful because everyone is not only willing to help out but also ready and able. Do you wish you had more siblings? If so, why? I am one of 10 siblings (who lived), and it’s enough. Between birthdays, Christmas, anniversaries, and other family events, it’s a wonder I have a savings account much less anything in it. Do you volunteer at all? Does here at Sierra Crest Business Law Group count? I volunteer here. Sometimes. If you could relive one moment in your life, which would it be? My marriage ceremony back in 1992. At some point the next day, I realized that I didn’t really remember any of it, other than relief that it was over and we could now go eat and drink at the reception. Is that bad? (Oh, don’t tell my husband.) Can you say your ABCs backward? Probably, if given enough time. Absolutely, if given pen/paper. No, if I were stopped on suspicion of DUI.
Chocolate. The more, the better. Oh … wait … I don’t feel guilty about that.
691 Sierra Rose Dr., Suite B Reno, NV 89511 775.448.6070 SierraCrestLaw.com
Sierra Crest Business Law Group is a business law firm. We guide small-business owners over rocky legal terrain so they can protect and grow their companies. Let’s discuss the three biggest risks that small-business owners face today. The first business risk you have as a small-business owner involves employee matters. This can be something like discrimination or properly categorizing your employees as W2 employees or independent contactors. It can include things like excluding employees for purposes of wage and hour violations. It can mean having the right agreements in place so your employees don’t quit and go into competition with you. So, under this whole umbrella, I would say employee matters are a big source of risk for employers and a good reason they need to consult a business attorney. The second source of business risk you have involves your contracts. On one side, it’ll involve making your customer contracts crystal clear to your customers about what they’re going to receive in exchange for the money they pay your business, and when they’re going to receive it, and in what form, and just making sure there are no misunderstandings. It can also involve your business vendor agreements where you’re the customer and you need to make sure there are no misunderstandings about what your business is going to receive when it pays money to a vendor, when it’s going to receive those, and in what form. The bottom line is that you need to make sure your business contracts are rock solid. THE 3 BIGGEST RISKS THAT SMALL- BUSINESS OWNERS FACE TODAY
The third source of business risk is dealing with business partners and investors. There was a time when people prided themselves on conducting business on a handshake deal, and a lot of people still say that out loud now. But what I’ve found is that those people can tolerate a lot of ambiguity and like to come back to you later and remind you of their self-serving version of some promise they say you made, or they thought you made. And so you get a lack of clarity. In today’s world, to avoid confusion, if nothing else, you want to make sure your agreements with your business partners are rock solid. And with investors, they need to understand precisely how they will receive payment for the money they invest in your company. And there can’t be any surprises or missed expectations in that department. If you’re like many of our clients, you deliver a great product and excellent service, and you pride yourself on going above and beyond to serve your customers. With all that attention on outstanding customer service, you may not have time to watch every detail of your contracts and make sure you’re buttoning things up to protect yourself from risk. And that’s where we come in. We’d love to talk to you and counsel you about how you, as a business owner, can continue to deliver outstanding products and excellent service while, at the same time, protecting your business from the risks lurking in the background. We’re the Sierra Crest Business Law Group, and we love to guide small-business owners over rocky legal terrain so they can protect and grow their companies.
691 Sierra Rose Dr., Suite B Reno, NV 89511 775.448.6070 SierraCrestLaw.com
BRAIN GAMES
Here’s a not-so-fun fact: January is the most common month for couples to divorce. Why is January ‘divorce month’? No one is entirely sure why so many spouses choose January to cut the knot, but family law attorneys and other experts have floated several theories. • As the first month of the year, January is the perfect time for a fresh start. It may take ending their marriage for spouses to achieve their resolutions and find happiness. • Many couples stay together for their kids. After the high- pressure family holidays of Christmas and New Year’s are over, it may feel easier to initiate a separation. • If you stay married for even one day of the new year, you can file your taxes jointly! This could incentivize couples who separated earlier in the year to wait until January to seek divorce officially. It’s hard to say which of these theories is the real reason behind January’s high divorce rate. It could be a combination of the three. Whatever the reason, the good news is that we’ve made it through “divorce month” and into February — the month of romance. How can you keep your current (or future) marriage strong? We’ve gathered tips from couples married 50 years or longer to help you strengthen your marriage and navigate future divorce months. Reader’s Digest originally published these quotes, but they are so wonderful that we couldn’t resist sharing them! • Zelmyra and Herbert, married 87 years, offered these words of wisdom: “Remember, marriage is not a contest; never keep score.” • Don and Estelle, spouses of 50 years, told RD: “We look back only to the good times. Remember and revel in your successes.” • Jenny and Manny, married 65 years, shared our favorite advice: “When GOODBYE, DIVORCE MONTH. HELLO, ROMANCE! 3 Expert Tips for a Stronger Marriage
SOLUTION
CURRIED STEAK WITH SCALLION RICE AND PEAS
Inspired by MarthaStewart.com
Ingredients
• 1 lb flank steak, room temperature
• 4 tbsp extra-virgin olive oil, divided • 1 bunch scallions, thinly sliced, white and light-green parts separated from dark-green tops • 8 oz sugar snap peas, trimmed and halved on the bias
• Kosher salt and ground pepper • 3 tbsp massaman curry paste, divided • 1 1/4 cups white rice • 2 1/2 cups water, divided
Directions 1. Season steak with salt and pepper. Brush with 1 tbsp curry paste, and let stand 10 minutes. 2. In a saucepan, combine rice, 1 3/4 cups water, 1 tbsp oil, and 3/4 tsp salt. Bring to a boil, then stir, cover, and reduce heat to low. Simmer about 15 minutes before adding white and light-green scallions. Cover to steam. 3. Heat a large cast-iron skillet over medium-high heat. Swirl in 1 tbsp oil. Add the steak, flipping once; cook this for 7–9 minutes, then transfer to a carving board. 4. Reduce the skillet to medium heat, then add 1 tbsp oil and the remaining 2 tbsp curry paste. Cook this for 1 minute. Add 3/4 cup water and cook until reduced, about 30 seconds. Transfer to a bowl and cover. 5. Wipe skillet clean, then add remaining 1 tbsp oil. While stirring, add snap peas. Season with salt and cook this until crisp-tender, about 2–3 minutes. 6. Fluff rice before stirring in scallion tops. Slice steak against the grain, then serve with rice, peas, and curry sauce.
you go to bed at night, it doesn’t matter how angry or sad you are;
always touch toes. It’s a little reminder that I’m here and
I love you no matter what.”
We hope you enjoy this month of romance and many more!
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IF SOMETHING IN YOUR BUSINESS IS KEEPING YOU UP AT NIGHT, CALL US AT 775-448-6070. REFERRALS ARE ALSO WELCOME.
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INSIDE THIS ISSUE
1
3 Challenges You’ll Face This Year
2
Curried Steak With Scallion Rice and Peas 3 Marriage Tips From the Experts Retrain Your Brain With Habit Tracking A Heartwarming Ukrainian Soccer Story
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A Cinematic Cure for Seasonal Depression
4
To Chase Away the Blues 5 Feel-Good Movies
Are you stuck in a TV rut and starting to feel down in the dumps? (Thanks, seasonal depression.) If so, check out one of these heartwarming movies for a pick-me-up. 1. ‘Rescued by Ruby’ — If your family loves dogs, this kid- friendly flick will be a real crowd-pleaser. It stars a pup named Ruby, who starts life as a shelter dog. After a state trooper rescues her, she becomes a search-and-rescue worker who finds and saves people. A true story inspired the uplifting tale, and according to some reviews, you may want to have tissues ready. 2. ‘Yes Day’ — Imagine spending an entire day saying “yes” to everything your kids requested. Congratulations: You’ve stepped into the plot of “Yes Day”! In this film, parents Alison and Carlos go along with their kids’ wildest desires and watch family bonding magic unfold. The Raising Children Network recommends this movie for adults and older kids only.
hero named Chickenhare, who is 50% rabbit, 50% bird, and 100% confused about his place in the world. He’s also on a quest with friends to defeat his evil uncle before it’s too late. Think of the film as a funny, adventurous, family-friendly take on the classic tale “The Ugly Duckling.” 4. ‘Dumplin’ ’ — Mashable called “Dumplin’” “the definition of sweet.” The movie stars Rosie (played by Jennifer Aniston) as a pageant-obsessed former beauty queen whose daughter, Willowdean, doesn’t fit conventional beauty standards. When Willowdean enters her mom’s pageant in a protest complete with dancing and Dolly Parton tunes, she sparks a small-town revolution. This movie is recommended for children ages 13 and up. 5. ‘We Can Be Heroes’ — Since its release in 2020, this superhero movie has quickly become a family favorite. The story opens with an aliens-versus-superheroes showdown, and when the aliens win and take the heroes hostage, their kids come to the rescue. As the title implies, the film will leave you feeling like you can be a hero, too.
3. ‘Chickenhare and the Hamster of Darkness’ — The plot of this animated movie is as creative as its title! It follows a cartoon
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