November 17, 2020
Episode #102 – Shayle Rothman – A Vanguard in Innovation
“In terms of measurement of success, for me, the bar should always be moving. As soon as you get to a certain level and you accomplish that goal you say: ok well, what’s next? So, when you have that entrepreneur mindset it’s about the journey, it’s not about actually getting to a specific spot. You’ve already moved that bar forward.” – Shayle Rothman
- Selected Links & People Mentioned in this Episode
- REIN Canada Real Estate Lawyers.ca LLP
- REIN’s Success Formula for Raising Capital program
- Jim Rickards
- George Gammon
- Connect with REIN Canada
- REIN Canada
- [email protected]
- SHOW NOTES
- [02:08] Patrick introduces his newest TEDM guest in the REIN Member Series: Shayle Rothman.
- [03:16] Shayle and Patrick get rolling on their conversation after 10 years of knowing one another! Shayle gives us a snapshot of who he is, what he does, and how he came to be a real estate lawyer. His start was in the family business which he saw a great vision for, then continued to grow and flourish.
- [07:00] Law wasn’t Shayle’s first or intended pursuit. With an eye to grow his journey with McDonald’s and start his own franchise, going back to school soon became the focus, but law intervened and took over as his passion.
- [09:33] All of the pieces that comprise entrepreneurialism have long appealed to Shayle. From leadership to training, collaborating on ideas to building things from scratch. He knew in his gut it would have to be his path
- [11:42] What were the main drivers behind Shayle’s decision to become a real estate lawyer? What are the aspects he now thrives on the most?
- [1418] Legacy preservation. Shayle describes the model he crafted for his business to be in support of retiring lawyers who didn’t want to simply turn the lights off after building a multi-decade business. He finds that the needs for lawyers winding down their business run the full spectrum from easing out of practice to jumping right out, riding motorcycles but still making money. Shayle sees it as an opportunity for everyone to win.
- [16:18] Shayle talks about how he and his business partner Eric have expanded their business in response to feedback they have welcomed from their clients, always with an aim to improve. More offices, mobile offices and house calls are just some of the ways they could provide a customized and enhanced client experience
- [19:39] Development and innovation are vital to Shayle and Eric’s business approach. They are a complementary team, who set aside time on a weekly basis to evaluate, build, and find better ways to provide value-add to their clients. Together they get the necessary feedback, pay attention to trends and events then work to stay ahead of them.
- [26:14] Embrace technology. Shayle and Eric are firm believers in technology advancements from fast tracking a video conferencing system for clients in the spring, to now building software platforms that talk to other systems, provide proactive communication and an overall better experience for their staff and customers alike.
- [29:07] Patrick further discuss the importance of setting up your team with the right tools and technology so they can get things done effectively to keep moving forward. Like Patrick, Shayle believes that the measurement of success is not a static situation, it ought to be a moving target that keeps us growing and evolving along our journey.
- [31:52] Going back to his business partnership, Shayle and Eric have built a rock-solid friendship and partnership rooted in trust and aligned values. From law school to travelling the world, family, and business, Shayle shares their philosophy and how they work to one another’s strengths and weaknesses to collaborate on the vision for the business. Learning from others is important and taking action is vital.
- [38:59] Shayle talks about his approach to leadership and how he works together with his team to maximize their skills and mine for ideas towards everyone’s expansion and elevation. Patrick similarly surrounds himself with a vibrant and creative team to elevate his business.
- [42:43] Shayle shares his experience of being in the REIN room for the past 10 years and how he sees people showing up there. It is a noticeable difference from those who take action and apply the systems and those who do not. It’s always a choice as to where we want to expend our time and energy.
- [47:37] At the core of all that Shayle does in his life is his desire to create unique experiences with and for his family. Home is where his heart lives.
- [49:57] Shayle talks about how he and his wife maintain such a strong connection and healthy communication.
- [52:06] The core values that drive Shayle as a person were instilled early on from his mother. Those values are becoming more apparent and top of mind for him as he sets a similar foundation for his kids.
- [55:15] Circling back to the real estate investor conversation, Shayle shares his view of the top 4 things that distinguish a successful investor from one who spins their wheels: 1) self-evaluate to understand your strengths and work to them, 2) systems, 3) teams, 4) right action. Patrick adds an important link: you have to connect to the outcome.
- [60:26] Joint Ventures. The importance of following the steps correctly when undertaking them, of understanding what you want from them and having the agreements in place before identifying properties for investment. Applying and following a system like the REIN Raising Capital program, will support that undertaking tremendously and create a solid footing from which to grow.
- [66:46] Shayle’s vision for his business mirrors his philosophy on success: it is a continual evolution, and he must remain fluid, aware, and forward thinking. When it comes to culture, Shayle and Eric are intentional about transparency, and hiring people who are a fit for their environment.
- [71:40] Shifting gears to ignite some rapid-fire questions! His daily routine, current favourite books on Audible, iPhone or Android, favourite swear word, alternate profession (business and technology are still at the top!), message at the pearly gates, room-desk-car, favourite type of movie.
- [76:48] Shayle’s gratitude.
