Reib Law November 2018

AN ACT OF GRATITUDE OR A HOLLOW GESTURE? SAY THANK YOU LIKE YOU MEAN IT

GIVE THE GIFT OF FOOD We all need to eat, so what better way to say thank you than with a sweet treat? You may not be aware of any unique dietary restrictions your client may have, so it’s best to play it safe. A tin of cookies or some peppermint bark will delight almost anyone, but if your client is a fitness company, they may prefer a healthier treat, like a fruit basket. DONATE TO A CLIENT’S FAVORITE CHARITY A great way to show that you care is by helping a client give to their favorite charity or cause. If you happen to know a charity near and dear to their heart, you can make a surprise donation in their name, or you can reach out and ask them directly. It’s the season of giving, after all! The best way to make your thank-you feel authentic is to genuinely be authentic. Yes, an unexpected gesture can reflect well on your company and encourage clients to talk you up to their friends and family, but potential referrals should be a perk of giving back, not the main goal. Practice genuine gratitude this Thanksgiving, and it will be well-received.

Thanksgiving is a time to express your gratitude to the people in your life. During this time of year, plenty of companies talk about how thankful they are for their clients. But more often than not, to those clients, words of thanks feel like just another sales gimmick. If you want to show your clients how much they mean to you, here are a few ways you can express that thanks authentically. SEND A THANK-YOU NOTE Getting a letter in the mail is a nice feeling. Taking the time to send a client a handwritten letter is the kind of pleasant surprise that really makes someone feel good. Obviously, a handwritten note will take more time to craft than an email, so it’s okay to send fewer notes in order to really make an impact. Find some tips for writing awesome thank-you notes at Helpscout.net/blog/how-to-write-a- killer-thank-you-note.

HOWDY, PARTNER! ESTABLISHING YOUR BUSINESS PARTNERSHIP ON THE RIGHT FOOTING

who you give a small percentage of stock to so they have a vested interest in your company’s success. You might consider having your own counsel to turn to for legal questions; whether or not this makes you feel more secure will depend on your situation. A lawyer can help you put terms into writing and create a document that will have the right pieces in place to strengthen your partnership. When you’re looking for an attorney to help you with legal documentation around your business partnership, contact Reib Law. Attorney Scott Reib has a wealth of experience helping Fortune 500- and Forbes-featured clients find the best outcomes with their business partners.

is putting in when it comes to capital and assets. You’ll also want to address an exit strategy. What are the terms for dissolution? Down the road, you or your partner may decide to sell, or one of you may be ready to retire. If a partner dies, their heir will inherit the partnership unless a legal plan is in place. You probably didn’t sign up to do business with their children. Address major changes like this in your contract through a buy-sell provision or make a separate buy-sell agreement. If you reach an impasse during a discussion or decision for your company, how will you handle it? Consider bringing in a neutral third party who can hear both pitches and help you find the best one — not just the one you feel most passionately about. This can be an outside paid consultant or someone

Like any relationship, you and your business partner confront the downhill cruise and the uphill battles together. You went into this venture because you share the same passion about your business. Just like any relationship, you’ll need to nurture this one if you want it to be successful. This means having real, upfront conversations about how you’ll handle any less-than-ideal situations. That way, you'll have a plan in place if they occur. Before you go any further in your venture, sit down with your partner and take some time to consider how you’ll handle the tougher topics. Putting a legal contract in place from the beginning is the No. 1 step that will help mitigate many of the issues that partners run into. This should include each partner’s duties and responsibilities, including what each

2 | www . reiblaw . com

www.reiblaw.com

Made with FlippingBook flipbook maker