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The Importance of Setting Up the Right Legal Structures for Your Business with Scott Reib
Legal protection is a crucial yet often overlooked aspect of building a successful business. Without the proper structures in place, entrepreneurs expose not only their business but their personal assets to undue risk. With the proper legal protections in place, business owners can focus their energy on growth and innovation, knowing they have shielded themselves from potential downsides that could otherwise derail all their hard work.
This week, Daniel sits with Scott Reib to explore the benefits and processes of building a strong legal foundation. Scott has over 30 years of experience as an experienced lawyer and business coach. He founded ReibLaw to help entrepreneurs build shatterproof businesses through his consulting services, bestselling book, and podcast.
Listen in as Daniel and Scott talk about the importance of legal protection in building a sustainable business, forming an LLC for tax benefits and liability protection, avoiding a complaining attitude, casting a clear vision for a business and effectively communicating it to stakeholders, expanding your impact as an entrepreneur through podcasting and book writing, and seeking help from coaches to accelerate goals, and more.
“If you want to have a vision, you have to look forward. Vision does not look back.” —Scott Reib
Episode Highlights
- 04:10 The Importance of Mindset in Business Growth
- 08:27 How Complaining Impacts Business
- 11:43 Communicating Vision to Stakeholders
- 16:42 The Importance of Legal Protection in Business
- 20:22 The Benefits of LLC
- 26:27 Faith and Business Success
- 31:50 Asking for Help is Power
Resources:
Freebies
- Go to danielgomezglobal.com to get your FREE assessment of your business and set up your free 45-minute discovery session
NEW BOOK by Daniel!!
- Get Your Autographed Copy
The Makings of a Millionaire Mind
Course
⭐ Freebies
- Get daily millionaire affirmations from Daniel Gomez.
Just text “MILLIONAIRE” to 210-942-5059
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Connect with Scott:
As the official Zig Ziglar Small Business Lawyer and a Ziglar Legacy Certified Trainer, it’s no wonder that Scott Reib is known as “America’s Legal Coach.” For the last two decades, Scott has been helping business owners, entrepreneurs, and coaches “shatterproof” their businesses by implementing specific strategies for structure, growth, and protection.
Quotes:
03:21 “Whatever has happened has happened. It’s a circumstance, I don’t have to participate in it, I’m going to move forward.” —Scott Reib
03:58 “One of the great things about being a business owner is you get to build the life you want, which means you don’t have to hang out with people that you don’t want to hang out with. You get to choose your company.” —Scott Reib
06:33 “Life is choices, and choices have consequences. Choose wisely.” —Scott Reib
07:55 “Whatever you focus on, that’s going to grow.” —Scott Reib
08:46 “If you want to have a vision, you have to look forward. Vision does not look back.” —Scott Reib
09:55 “Sometimes, we live in a frequency [of complaining] so long that it becomes a mood. And we don’t realize that we can program ourselves to be in a bad mood.” —Daniel Gomez
12:47 “Number one thing in your business is to fix your attitude. Before you look at fixing or changing anything else, fix your attitude right.” —Scott Reib
13:45 “Sometimes, it’s not that the business owner doesn’t have a vision, but they can’t cast it, or they don’t cast it… Where there is no vision, people perish. ” —Scott Reib
19:47 “You are not responsible for the debts and obligations of the LLC. And so as a business owner, you don’t want that risk personally, you want the business to be taking the risk. And to do that, you have to have an entity.” —Scott Reib
22:06 “Having an LLC does not change your taxes. Having an LLC gives you the ability to change your taxes.” —Scott Reib
31:45 “Without having a coach, it’s very hard to do something fast.” —Scott Reib
32:45 “When people pay, they pay attention.” —Daniel Gomez
33:53 “You’re going to need help at some point in your life. Some people don’t realize that sometimes.” —Daniel Gomez
36:28 “I change what’s coming into my mind, so I can change who I am and where I am.” —Scott Reib
