Reib Law - October 2018

REIB LAW

SHATTERPROOF NEWSLETTER

OCTOBER 2018

WWW.REIBLAW.COM | 940.591.0600

and maintain momentum to keep the bike upright. In a lot of ways, it’s like starting and running a business. Give in to feeling tired or get too comfortable and coast for too long, and eventually, you and your company will fall over. The key to success is not buying into the old saying “if it’s not broke, don’t fix it.” I’ve done exactly the opposite of that mantra with my business. I’m always trying to find ways to make it better, even when everything is running smoothly. To keep yours moving forward, you need to do the same. How can you tweak what you’re offering to add value? Look for new opportunities in your industry to make your product or service better. How can you change the structure of what you’re doing? The key to business is to find something of value that your customer needs, and then find a way to package and sell in a way that provides more value than what they’re paying. As long as you’re doing that, they’ll make the purchase over and over again.

NEVER STOP PEDALING WHAT BIKE RACING AND YOUR BUSINESS SUCCESS HAVE IN COMMON

I love everything about road cycling: the physical and mental challenge, the social aspect of the ride, the camaraderie, and the adrenaline rush I get during races. A friend of mine got into it several years ago, and I thought it sounded fun, so I jumped in. I was a runner at the time, but hadn’t biked much since I was a kid, so I picked up a 10-speed at Walmart and quickly realized that wasn’t going to cut it for 100-mile rides. One visit to a bike shop later, I was set. That was in 2011, and I’ve been riding ever since. Each August, there’s an annual ride I do with friends, and as you can imagine, it’s hotter than heck — in fact, that’s the name of the race. Last year it was so hot they started the race an hour early. It was still pitch black outside as we gathered at the starting line. I got up front, and we took off, me and some 15,000 other riders. Pure adrenaline rush. I was right alongside all these other riders, water bottles started dropping — you have to watch out for those — and there were some pretty good wrecks along the way. With running, if you get tired, you can just walk. But with cycling, you’re either pedaling or you’re not. If you keep coasting, you’ll eventually fall over. You have to keep moving

"THE KEY TO SUCCESS IS NOT BUYING INTO THE OLD SAYING 'IF IT’S NOT BROKE, DON’T FIX IT.'"

I’m a big believer in recurring revenue models. It was the reason I went to a subscription-based model. Everyone should find a recurring revenue source. It creates a consistent cash flow and removes some of the month-to-month stress. There’s some security in that, but you’re still looking to aim for better. In biking, you coast on the downhill. If you don’t take advantage of that coast, you’ll lose steam eventually and won’t have anything left for the next hill. But even on the downhill, you should still be thinking, “How can I take advantage of this downtime? How can I prepare for the next hill?”

–Scott Reib

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