SHATTERPROOF NEWSLETTER
JANUARY 2021
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unhealthy food that you know you shouldn’t eat? Maybe pack a lunch. Do you eat a family meal at Grandma’s house every weekend that you know isn’t going to be healthy? Maybe plan to limit your portions. Whatever obstacles are in your way, know how to react in accordance with your goals before you reach them. In the last edition, I talked about living life 90 days at a time, and all of that very much applies to creating goals for the New Year. While you might have an endgame for 2021, do you know where you want to be 90 days from Jan. 1, 2021? When you break up your game plan into increments, your success won’t seem as far away, and you’ll be reminded of your progress all along the way. EVERY NONSUCCESS IS A LEARNING EXPERIENCE. SO, CREATE A PLAN, ACCOUNT FOR OBSTACLES, MEASURE YOUR PROGRESS. AND WE CAN HELP! VISIT REIBLAW.COM/NLFREE TO SCHEDULE A CONSULTATION. While there are plenty of ways to make achieving your goals easier, you should also prepare for shortcomings. You won’t always reach your goals when you want to, or how you want to. However, you shouldn’t think of this as a failure (I usually refer to my shortcomings as “nonsuccesses”). Instead, just remind yourself that whether you meet your goals or not isn’t life or death, and all you have to do is go back to your plan, recalibrate, and move forward. You might even find that you need to make a new goal altogether, if the goal you initially set is impossible or extrinsically motivated (meaning someone else set the goal for you, or you aren't intrinsically motivated for your own reasons). Every nonsuccess is a learning experience. So, create a plan, account for obstacles, measure your progress every 90 days, and take on 2021 knowing that your goals are conquerable. And remember, if it’s your goal to start a business, restructure your business, or just learn more about the legal side of running a business, give REIBLAW a call, or visit ReibLaw.com/nlfree to schedule a consultation. Happy New Year! – Scott Reib
HOW TO ACHIEVE YOUR GOALS INSTEAD OF FAILING TO KEEP RESOLUTIONS
At the beginning of the year, I don’t make New Year’s resolutions — I set goals. Let me explain the difference. A resolution, at least to me, is more of a wish. “I want to lose weight,” “I want to stop smoking,” “I want to eat less sugar,” or “I want to spend more time with my family.” Granted, these are all good things to want, but those resolutions fail so often that they’ve just become empty platitudes. A goal, on the other hand, is much more structured. Instead of a vague idea, you have a quantifiable end result in mind. Take the resolution, “I want to lose weight,” and compare it to the goal, “I want to weigh 185 pounds by Dec. 31, 2021.” Which one seems more attainable? Obviously the second one because it actually names something to work toward. Creating goals takes a lot more time and effort, but the results will be worth it. You have to figure out how to measure your success as you work toward your goal, as well as establish the best times to measure your progress. If you’re trying to lose weight, maybe that means creating a workout plan, an eating plan, and maybe finding someone (or multiple someones) to hold you accountable to those plans. In any case, you should also write your goals down. That way, they exist somewhere outside of your own head. Additionally, it helps to consider all the possible obstacles to your plan’s success that you might encounter. For example, is there a business lunch every week full of
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BE A BETTER LEADER 4 LEADERSHIP BOOKS YOU NEED TO READ
takes grit, thick skin, and compassion, and “Unleashed” offers advice from top-performing organizations on how to best achieve all three. ‘PERSONALITY ISN’T PERMANENT: BREAK FREE FROM SELF-LIMITING BELIEFS AND REWRITE YOUR STORY’ BY BENJAMIN HARDY Organizational psychologist Benjamin Hardy makes a fascinating argument for why your current personality isn’t the one that’s most important. His new book pushes readers to consider who they want their future self to be, and his ideas aren’t theoretical — they’re full of proven ways to change your priorities, break habits, and use your environment to make you a better version of yourself. ‘HONEST TO GREATNESS: HOW TODAY'S GREATEST LEADERS USE BRUTAL HONESTY TO ACHIEVE MASSIVE SUCCESS’ BY PETER KOZODOY The turmoil of 2020 has pushed brands to reconsider how they appeal to their customers. Many are walking away from deceitful promises and aiming for radical honesty and authenticity, instead. In his new book, Kozodoy examines how this revolution came to be and why it’s working. His guide teaches leaders how they can embrace these qualities to make their businesses better.
For leaders at all levels in all types of business, 2020 was a tough year. Those businesses that managed to not only survive but also thrive all have one big factor in common: good leadership. If you want to be a better leader for your team in 2021, here are the latest leadership books you should add to your reading list. ‘FRIDAY FORWARD: INSPIRATION AND MOTIVATION TO END YOUR WEEK STRONGER THAN IT STARTED’ BY ROBERT GLAZER Glazer is an entrepreneur and bestselling author who has taken 52 of the most impactful stories from his inspirational newsletter that goes out to more than 100,000 readers and put them in one convenient book. These stories of struggling entrepreneurs who turned things around can give you the push you need to make an impact in your own circles and end your work weeks stronger than they started. ‘UNLEASHED: THE UNAPOLOGETIC LEADER'S GUIDE TO EMPOWERING EVERYONE AROUND YOU’ BY FRANCES FREI AND ANNE MORRISS Frei is one of the world’s foremost authorities on leadership. In her new book, she’s teamed up with Anne Morriss, a leader in the genomics industry. The book teaches leaders how to empower others. Great leadership
BIZ TOOL OF THE MONTH: COMPLIANZ Putting together a company website can be exciting. You get to add all sorts of different pages and features that introduce both seasoned and new customers or clients to your mission, your team, and your products. MAKE SURE YOUR WEBSITE IS IN COMPLIANCE
Along with document generation, Complianz will also automatically scan your website for cookies and let you style your own cookie banner. The plugin integrates with Google services, making for a seamless user experience, as well as with marketing tools such as Hotjar, AdSense, and Social Feeds. Additionally, through Complianz itself, you can use A/B testing to gauge how well different texts, backgrounds, and banners contribute to a greater conversion rate. Complianz comes with a myriad of other helpful features, too. You’ll have access to a full support team, ready to answer any questions you might have. The plugin goes through consistent monthly updates and improvements pertaining to legal changes and new features. If you get the premium version, it comes preinstalled with over 10 different languages, and if you need another language besides those, the support team can help you do that.
That said, getting every part of your business online isn’t all fun and games, especially when it comes to ensuring that it’s compliant with all the various rules and regulations as it relates to collecting user data. That stuff, important though it may be, can quickly become the bane of the entire process — that’s what makes the Complianz plugin for Wordpress so handy. The Complianz plugin for Wordpress streamlines the process of creating the necessary legal documents, saving you a lot of headache and frustration. Once you get Complianz set up, you start by filling out a questionnaire, which helps Complianz generate compliance documents like Cookie Policies, Privacy Statements, “Do Not Sell My Personal Information” pages, and much more.
I recommend Complianz to any of my clients. If you have any further questions about it, don’t hesitate to give me a call!
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WHICH BUSINESS STRUCTURE IS RIGHT FOR YOU?
Just like a house, a skyscraper, or anything built to last, your business needs a sturdy structure, built to uniquely accommodate whatever goes on under its roof. That begs the question: What’s the best structure (or “restructure”) for your business? While only you know for certain the structure that will suit it best, below are a few things that might be helpful to consider while in the entity formation process. HOW EASY ARE THE DIFFERENT STRUCTURES TO SET UP? Sole proprietorships and partnerships, while they don’t offer the best liability protection, are incredibly easy to set up. All you have to do to set up a sole proprietorship is register the business with the county clerk. Other business structures, like limited liability corporations (LLC), C corporations and S corporations have to be registered with the local secretary of state and adhere to a set of record-keeping conditions to maintain its limited liability protections, which can be time consuming. HOW WILL DIFFERENT STRUCTURES AFFECT MY TAXES? Different business structures have different tax benefits and drawbacks. For example, if you structure as a C corp, then you’ll have to deal with double taxation — taxation on your A FEW FACTORS TO CONSIDER
business’s revenue, and your personal income — as a result. However, if you structure as an S corp or an LLC, then the tax burden will rest only on your personal income. However, both S corp and LLC owners are also subject to the self- employment tax for their salary and their total take-home profits, respectively. HOW EASY IS IT TO TRANSFER OWNERSHIP WITH DIFFERENT STRUCTURES? If it’s important to you that you’re able to transfer ownership of your business with ease, then there are some business structures that help you do that. S corps and C corps make ownership transfer particularly easy. Since ownership is based on shares held in the business, all you have to do is transfer ownership of your shares to the new owner. However, if you want to transfer ownership of a sole proprietorship or partnership, you have to sell the entire business. At REIBLAW, we specialize in entity formation and can answer any questions you have. Call us today at (940) 591-0600, or follow the link at ReibLaw.com/nlfree to schedule a consultation with us!
SLOW COOKER CHICKEN CASSEROLE
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 SimplyRecipes.com
INGREDIENTS
large chunks • 2 garlic cloves, sliced • 14 oz chicken stock • 1 sprig rosemary • Finely grated zest and juice of 1/2 lemon • 1/4 cup fresh parsley, finely chopped
• 8 chicken thighs or drumsticks, lightly salted • 1 tbsp olive oil • 1 tbsp all-purpose flour • 1 onion, finely sliced • 2 celery sticks, thickly sliced • 2 carrots, thickly sliced • 1 leek, thickly sliced • 1 lb potatoes, peeled and cut in
DIRECTIONS
4. Transfer vegetables to the
1. In a large frying pan, heat oil and fry salted chicken on high until brown. 2. Transfer chicken to the slow cooker. Add flour and stir. 3. In the frying pan on high heat,
slow cooker and add the stock, rosemary, and lemon zest. 5. Cook on high for 2.5–3 hours or until chicken is tender. 6. Check seasoning and add lemon juice to taste. Top with parsley before serving.
fry the onion, celery, carrots, leeks, and potatoes until lightly browned. Add garlic and fry for 30 seconds.
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Goals and Resolutions: What’s the Difference? INSIDE THIS ISSUE 1 2 2 3 3 4 4 Books You Should Read to Lead Biz Tool of the Month: Complianz Which Business Structure Is Right for You? Slow Cooker Chicken Casserole Is the iPod Dead?
IS THE IPOD DEAD?
HOW AMERICA’S FAVORITE MP3 PLAYER FELL OUT OF FAVOR — AND FOUND A NEW AUDIENCE Media outlets have been declaring the iPod "over" for years. In 2017, a USA Today article blared, "Say goodbye to the iPod era,” and a 2018 Reddit thread asked, "Why are iPods still a thing?" But, despite that lack of consumer confidence, Apple continues to sell brand-new Apple iPod Touches on its website for $199 and up, and it just updated them in 2019 — why? • iPods have music and games to keep kids busy. • Kids can stay in touch with their families using FaceTime and iMessage on an iPod, but they can’t call or text (as there’s no service plan). • A $199 iPod isn’t as big of a loss as its more expensive counterpart, the iPhone, if your toddler drops it in the toilet.
As it turns out, the iPod is now a tool almost exclusively for kids. When the first iPod MP3 player was released in 2001, adults went nuts for it, but these days, we can listen to music on our versatile smartphones, which have supplanted the iPod for most people. Young children, however, don’t necessarily have the smartphone option — and many parents don’t want them to. An iPod has become a gateway device: It’s the perfect way to give a kid the independence of listening to music on the go without exposing them to everything a smartphone has to offer. According to a Medium post by Yash Patel, the Apple iPod Touch has stuck around to serve this new audience because the pairing benefits both parents and Apple. There is a plethora of pluses for parents:
For Apple, selling iPods brings in additional revenue, but there’s an even bigger perk. As Patel puts it, giving a kid an iPod “brings them into the Apple ecosystem, thus making them more likely to buy an iPhone when they are ready for an upgrade.” With a net worth of more than $2 trillion, Apple can afford to play the long game. If you’re interested in buying an iPod for your child but you’re not sold on the $199 price tag, we can’t blame you. Luckily, there are plenty of secondhand and refurbished iPods floating around the internet at deeply discounted prices. BackMarket.com sells refurbished Nanos, Classics, and Touches with a 12-month warranty for as low as $40. Whether you’re shopping for your kids or just want to kick it old school, that’s a great place to start.
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