R. Shawn McBride Live

Posts for for December, 2016

Having a Real Conversation with Your Attorney: Setting Objectives and Saving costs

Posted on: December 20th, 2016 by R. Shawn McBride No Comments

R. Shawn McBride recently published an article to the R. Shawn McBride Law Firm, PLLC Blog on a topic that might be of interest: Having a Real Conversation with Your Attorney: Setting Objectives and Saving Costs.

He discusses how you can have a conversation with your attorney early in the process and keep your future costs down.

You can see the full article here.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances.  This article should not be treated as legal advice to any person or entity. Freeimages.com/Photographer Michal Koralewski.

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #mcbrideforbusiness  #3lawsofempowerment

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The Hidden Thing That Can Kill Partnerships

Posted on: December 19th, 2016 by R. Shawn McBride No Comments

At McBride for Business (www.mcbrideforbusiness.com), and the R. Shawn McBride Law Office, PLLC (www.mcbrideattorneys.com), we spend a lot of time on partnerships – planning partnerships, preparing them and protecting them. This is embodied in The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), and through our experience, we’ve seen things that can harm partnerships.

After much study, we start finding certain themes that are common in partnerships that are not successful versus the ones that are successful.

What have we learned? What has our experience taught us? There’s one hidden dagger in many partnerships – miscommunication. The successful partnerships spend a lot of time early in the process of communicating shared vision, shared purpose, shared business plan and making sure everything is in alignment.

Those that are less successful think that they have this worked out. They rarely think that they don’t have a shared vision. They rarely think that they’re not moving in the same direction. However, the partnerships that are doomed find that as the business evolves and situations emerge they find out their agreement wasn’t as strong as they thought it was. They figure out there was a hidden problem.

Usually, they had different visions of what the business is and often this is not intentional. The partners are going along thinking that they have an agreement and that they’re talking similar language. They agreeing on the surface as far as what the business is and what the future is, but the devil’s in the details and low and behold a few years later a problem crops up and boom we have a major issue. Partners are disagreeing.

Then the partners get defensive. They don’t trust each other. Meanwhile, the business isn’t moving forward, and it may even result in litigation.

What do we do? How do we avoid this kind of situations happening before they happen?

Here are some practical tips:

# 1 We need planning. We need the partners to get together and really plan. Not just talking vague generalities, not just having a verbal agreement, but really write down things and agree about what the business is and isn’t – the vision, the exit strategies and all the critical details that need to be written down and agreed to.

# 2 Involve others. One written and agreed, run your plans by others. Make sure they make sense. Make sure the business is coming together the right way.

Let others check your details to make sure you have them right. Talk to trusted advisers, whether it’s another business person or somebody you’ve hired to be on your team to make sure everything’s coming together correctly. Really vet things. Update your business plans, keep in constant communication from the beginning to the end – because miscommunication can be such a killer. It destroys trust and can hurt the business.

#3 Revisit and update your plans.  As you learn, revisit and update your plans with the evolution of time.

#4 Protect the Value.  Know that you and your partner may split ways as no set of partners will agree forever on the future of the business.  But if you do split ways, make sure there are mechanisms in place to split the value rather than go into costly litigation.  Better to walk away with a check you don’t like than get nothing for years of effort.

What’s been your experience? Have you been surprised when a partnership went an unexpected direction? What have you done in the past? What are your strategies to minimize disruptions? Share with us in the comments below.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Keigirl.

 

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com, www.rshawnmcbridelive.com/3laws

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

 

 

Key Issues in Partnership Formation

Posted on: December 19th, 2016 by R. Shawn McBride No Comments

Partnerships are complex. Anytime we are involved in the formation of a company with multiple owners, we typically refer to it as a “partnership.” Now, the legal term partnership is different than the concept of partnership for economic purposes. An economic partnership can take many forms. It might be a partnership agreement, it might be an LLC agreement, or it might be a corporation. The form legally is tailored to a situation, and that’s something you can work on with your legal advisor. Regardless of legal form, there are certain things that need to be understood in a partnership agreement. Its important to understand how things are going to be divided. It is important to understand how the business is going to work. It is important to make sure the business has a clear path forward, and that everyone is avoiding future disagreements and problems.

That means advanced planning, preparing for what if scenarios, and understanding how the business is going to grow and evolve. We want to spend time and attention on that. Of course, you want to deal with 4 D’s, 4 things that are likely to happen in the life of the partnership.

#1 Death. One of the owners may die.

#2 Disability. There is a possibility that somebody involved in a partnership may become unable to work. What are we going to do to keep the business moving forward? What’s going to happen to take care of the disabled person? How are the economics going to work?

#3 Divorce. What if one of the owners gets married and gets divorced? What happens to that ownership interest?

# 4 Disagreement. What happens if the owners start to disagree about the future of the company? This is much more common than you would think. It is not uncommon for owners to be in the business for some time, things to evolve, and then disagreements start happening.

What’s been your experience with company formation? What types of issues are you looking out for? What’s been the problems that you’ve run into? Please share your thoughts in the comments below.

 

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances.  This article should not be treated as legal advice to any person or entity. Freeimages.com/Photographer Kimberly Vohsen.

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com) , gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com 

Add us on Twitter: @McBrideForBus #mcbrideforbusiness #3lawsofempowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

 

 

What I Learned From Speaking to BizEnergize

Posted on: December 16th, 2016 by R. Shawn McBride No Comments

I was invited to speak to the BizEnergize lunch on December 15, 2016 (http://bizenergize.com/). I learned a great deal from the audience. They were a great group of people and provided a lot of interaction. I spoke about building companies that last and I used the principals of The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), to underline my message, and to provide a strategic framework for looking at how companies can do more and build themselves to be bigger. One common theme kept coming up, which was how to manage business partnerships, how to really make them work, and how to make them better.

I believe that business partnerships are for a season and that we should be realistic – that not every business partnership is going to last forever. It’s misguided energy to try to build partnerships to be permanent. What’s better is to view partnerships as being for a period of time, to maximize the economic value, and to make sure that each of the contributors gets paid for their economic worth for their economic contributions.

There was also discussion about transition planning as people age, and how do we have some partners stay in the business and have others leave the business. We discussed the systems that were possible to make that happen. This included using generational strategies as younger people were coming up into taking the place of senior and professional services businesses. We also talked about the realities of having adult children join the business, and how this might have an impact on the other business partners and the evolution of the business.

It was a great audience, and I always enjoy getting the chance to talk about business and its realities, and putting plans together that are realistic.

What’s been your experience with planning for changing business partners? Have you had generational issues crop up in your partnership agreements? How are you working through the process of having older people leave the business and having younger people join the business? Join us in the comments below and let us know what you have experienced.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity.

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com, www.rshawnmcbridelive.com/3laws

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

 

 

Finding Your Wow

Posted on: December 16th, 2016 by R. Shawn McBride No Comments

Shawn McBride interviewed Kate Delaney, who is on two syndicated radio shows, and on television, and a speaker, about her experience using media and how to get media attention. You can find the full interview here:

https://www.facebook.com/rshawnmcbride/videos/10157854713640514/

R. Shawn McBride: Hello, everyone. Shawn McBride here. I’ve got Kate Delaney with me today as our audience builds. She’s going to be talking about using media and how to be buzzworthy to get media attention. Kate, why don’t you tell us a little about your experience while we let some people show up to see us?

Kate Delaney: Cool. That sounds good. Thanks, Shawn, for having me on. I have an interesting background. I started in the news business, went to school, got a degree in journalism, got out of school, jumped right in front of the camera, and started by anchoring, and reporting for a television news station in a little, old town called Kearney, Nebraska, and quickly moved up the ranks, ended up in Santa Barbara and Albuquerque, New Mexico along the way and Las Vegas.

As I went through those stops I ran into somebody who I thought was pretty good on the air. They were natural, conversational. They didn’t seem as robotic as a lot of the people I had worked with in front of the camera. It turned out that part of the reason why was because his name was Nathan Roberts. He was an anchorman in Los Angeles. He had a huge radio background. In radio, you have to fill a lot of time. You’re not just throwing to the weather person. You’re not just throwing to the sports person. You’re not one of those two people who are doing news where it’s a minute or so long.

I jumped into radio on the side and just had a massive passion for it because I like sports. I like politics. I liked business. I started to do radio shows and got syndicated. Now, fast forward, I do two syndicated shows, one that’s on ABC Satellite and the GCN Network. It’s called America Tonight. My other one is on NBC. It’s on the NBC Sports Radio Network. Pretty much I’ve been able to use what I’m passionate about in sports again, along with business, and politics. Then I do some television too. I’m a contributor for CNN – quite often they have me on. That’s been a real kick to do that, because I’ve always maintained my television roots as well.

The other thing I do is that I’m a speaker, and I’ve been speaking for about 10 years. I speak about “finding your wow.” How do you clearly, confidently, and concisely describe who you are and what you do? That dovetails into the media. I’m holding two retreats, and I do extensive media work with a lot of companies, a lot of law firms, a lot of accountants. How can they get buzz? How are they buzzworthy, in other words? Once they get the attention of the media, what do they do to leverage that attention? You got a spot on the local news or you got a huge national hit. What are you doing with that once you get it? How do you keep up the momentum?

R. Shawn McBride: Sure. Let’s start from the beginning. I think it’s apparent, but what does getting media attention do for somebody? How does that help somebody, or how does that help their cause?

Kate Delaney: Well, media attention, most of us … unfortunately, you can be great at whatever it is you do, but how do you get heard? How do people know who you are? How do you attract clients, except for shelling out big bucks advertising? If you create a media niche and you become an expert, let’s say, and television reporters, radio reporters go to you, you’re quoted in The Wall Street Journal, you’re quoted in USA Today, you’re quoted in Bloomberg magazine, you’re quoted in high volume blogs, (that kind of thing), I think that attracts bucks to you. It attracts people to what you’re doing, because they have a chance to see you, feel you, hear you, especially when they see you out there continuously, because then they want a piece of it. They want to know. They get to know you.

R. Shawn McBride: Right. I think we’ve learned those fundamentals now. People might say, “Hey it’s great. Yeah, I’d love to get some of this attention.” A lot of times, I guess with the media it’s free. Once you’ve cracked the code of how to get on the media they’re not going to charge you to get on there. You’re getting that publicity. How do you get the media to pick you versus all the other people that might want to be on a media?

Kate Delaney: Yeah. That’s the tough thing, Shawn, because there are so many people that do similar things, whether it’s you’re in a legal space, whether you’re a speaker, maybe you’re in retail, whatever your job is, or if you’re an entrepreneur. A lot of people listening to us might be entrepreneurs. How do you become the person who gets picked? The way you do that is by really clearly differentiating yourself from everybody else. I’ll give you a huge tip.

Here’s the number one thing. If you’re going to do a pitch, pay attention to who it is you’re pitching to. At least know their shows. Get to know their shows. Target some radio stations. Target some particular talk show hosts, or morning television shows, or big time blogs. Whatever it is that you really feel like you could be a part of, whatever that show is or what they’re talking about, for goodness sake know whatever it is that they talk about.

I can’t tell you, every day I get to your point, I get about 300 pitches a day. I’m not kidding. On slow days maybe it’s a little less than that, but people will pitch me stories that have nothing to do with anything I’d be interested in. Then the pitch is very blah. It tells me something exciting about them, but it goes right into their bio and a whole long diatribe of what they are and why we should listen to them and whatever, but it’s not sexy. It doesn’t grab you. There’s nothing compelling about it.

If you don’t have something compelling, you’re not going to attract the attention. If you want to attract the attention, you have to be consistent, and you have to . . . I think target who it is that you want to go after, and just keep going for it. It might take time to develop that relationship, but if you gain their trust, (somebody’s trust), they’ll go to you as the expert versus anybody else, for sure.

R. Shawn McBride: I think one of the dots we’re connecting here is the personality or the person that wants to be interviewed by the media, you’ve got to give them a reason. They’re obviously trying to build their audience. They want to provide a good product. They want to provide something interesting to get people tuned into whatever program they have. You want to provide that, but how do you get to the point of getting them to like you and trust you enough to say, “Hey. Come on the air with me,” or give the person who’s looking for exposure a chance to be interviewed?

Kate Delaney: Well, I think it goes back to that. It goes back to that consistency again. If you’re talking about a complete stranger, how do you crack the code of the local anchor guy who knows nothing about you, is busy, has producers, et cetera, you have to make sure you go to the right source. Is it the anchor? Is it gaining the trust of the anchor? Send them something maybe personal. Send them something that connects you to them.

Let’s say you could send your book, “Hey. Here’s a copy of my latest book. Blah. Blah. Blah,” and do that. That may just end up on a desk somewhere, but look for some kind of connection. It’s pretty interesting to me, even though I’m in the media, I’ve gotten a lot of media coverage for not what I’m necessarily doing in the media. I’m able to leverage all the different places that I lived. I had a connection.

Remember, all the people you’re reaching out to are people. If, for example, I’ll give you an example. Cynthia Izaguirre is a local anchorwoman on a big station in Dallas, Texas, on channel eight. She happened to live in New Mexico, a different time than I did, but I knew I had that connection to her. I sent her a pitch and I talked about, “Hey, I don’t know how much you like red chili, but I know I miss it.” Boom.

R. Shawn McBride: Got you.

Kate Delaney: It’s funny. Then I gave her the rest. Then all of a sudden, it’s like, “Wow. I totally relate to that, Kate. I like green chili, but I like it mild.” Then they put me on the show. They are a person and people forget that.

R. Shawn McBride: These are human beings at the end of the day. They may be on TV. They may be cool. They may have a personality, but at the end of the day you’ve got a human being that wants to connect with other human beings.

Kate Delaney: Yeah. Absolutely. If you can find that connection, especially for a lot of you who are watching this I should say. If you’re watching this and you’ve lived in a lot of places … Shawn, I know you’re pretty mobile – you’ve lived in a lot of different places. You visit a lot of different places. I’ve been to every single state, except for Alaska, and I’ve been able to use that. That more than anything … I have that goods, but I have some funny, some connection, whether it was sports, food, nightclubs, whatever it was. You got to do a little digging. You got to do research. People do not research enough.

R. Shawn McBride: Excellent. Yeah. Just build that extra connection. What would make somebody buzzworthy? What makes somebody have some kind of pitch or beyond this personal connection, but what is in their profile, or their experience, or other things that might be something they could use as a hook to try to get the media people to really want them to come onboard?

Kate Delaney: Yeah. That’s a great question. That’s what I call what’s your wow. What’s your wow a lot of times has to do with maybe it’s something numerical, like I’ve flown frequent flyer miles on American, and they’ve run out of cards to give me. It could be … I’ll give you an example. I was giving a speech the other day, or a couple of weeks ago. It was through Skype, and it was a manufacturing company. At that manufacturing company you had chemists and you had customer service people. What makes them buzzworthy? What makes them interconnected?

It turns out when I dug a little bit the chemist was a champion Frisbee player. That was the wow. How many times have you thrown a Frisbee? Oh. I’ve thrown a Frisbee probably 150 thousand times. Boom. The chemist that throw Frisbees for fun 150 thousand times. It made it much more compelling, much more interesting. It’s that other layer. It could be a number. A lot of times with people it’s a number. What’s compelling about you?

R. Shawn McBride: Right. What I’ve heard too it’s some combination. It’s like you’re a good chemist, but you’ve also got this personal side. That’s probably, from the media’s perspective, it’s interesting to talk about both of these together. It gives him some more flavor for an interview.

Kate Delaney: Yeah. I’ll give you a great example. I was talking to somebody the other day. She’s an entrepreneur, incredibly successful at what she does. She does masterminding groups and speaks. She had this sidebar to her personality. Toys. She loved wind-up toys. It turned out that so many people got into that. She now is going to have the Guinness Book of World Records. Boom.

All of a sudden the TV stations weren’t so interested, “Here’s another entrepreneur. Yeah. Tell us about masterminds.” No. She had this other side where she had all of these wind-up things. They end up doing a story on the windups. Then also, gee whiz, she’s an entrepreneur and his specialty is masterminds. That’s a good way to get somebody in the door. You get a lot of coverage for something super unique.

R. Shawn McBride: Yeah. One of our friends, a fellow speaker, Jill Schiefelbein, just commented. She was saying how you helped her find her wow. I guess that’s part of what you do is you help people figure out what that is about them that makes them a little different or unique.

Kate Delaney: Yeah. Everybody has it. Everybody has something. A lot of times they don’t think they do. Maybe it’s because I’ve interviewed 12,000 people. My wow is that I’ve been to every single state in the United States, except for Alaska, and I’ve interviewed over 12,000 people. I really connect with people. I really get it. I can drill down what somebody’s wow is within minutes of meeting them, because I’ve had to do that, whether I’m interviewing someone famous or somebody that’s just a little bit interesting. I’ll call them an average Joe.

If you’re listening to this, start to write out, what have you done in your life? I mean, were you a championship tennis player that beat the snot out of Andy Roddick who run a US Open? I don’t know. Did you swim with sharks and you escaped somehow? I can guarantee you’ve got something. It doesn’t have to be big. It just has to be compelling or interesting.

R. Shawn McBride: Yeah. you’re looking for something – something you’ve done just a little different than other people and take it to them. Let’s say we’ve got somebody who went from the process we talked about at the beginning of this. You wanted to be on the media, then you figured out some hook or something to get to the media. Now you’ve figured out some wow in you. How do you communicate this? Is it letters? Is it emails? Is it telephone calls? What’s the best way to take your packaged message to the media?

Kate Delaney: Definitely not phone calls. I would dissuade anyone from phone calls. I would say what you want to – well, there a couple ways. You definitely could go the email route, because especially reporters, assignment editors, producers are looking for stories. Believe it or not, it’s your timing too. Can you tie yourself to a national day? There’s a million national days. Can you tie yourself to a slow news day? Holidays are slow. We have Christmas coming up and New Years. They’ll be looking for content. If you have something that you can tie yourself into, it is perfect timing to pitch to the media.

Make sure on the subject line, what we talked about, what’s compelling, what’s interesting – you put it in that subject line. Immediately, right out of the gate, you don’t keep it any longer than maybe two paragraphs, and make them short. Write it really good. Make it really compelling why you’re pitching them, why they need to have you on. If the video is clever and it makes sense …

If I was my friend with the windup toys, I would shoot myself in front of the windup toys. I would do something talking about that. Then boom, they click on that and they see it. They see these thousands of windup toys all over the place. I’m a photographer, or even not, even if I’m a blogger I’m thinking, “Ah. That’s visual. I can put a link to a video with that. Her video I can link to.” That’s a good way to do it. Definitely not a cold call. I think cold callers are tough. People are busy. They don’t want to hear from you. What are you going to say when you leave a message, “Hey, anchor woman, I have a billion windup toys. You need to come cover my story.” Even if you’re great and you have a good rap, it’s not going to work.

R. Shawn McBride: Definitely. Something written medium is what we’re hearing. Probably email, maybe a letter, but just something to get it in front of them.

Kate Delaney: Absolutely.

R. Shawn McBride: How do people get ahold of you if they want to follow up with you?

Kate Delaney: Easy to get ahold of me. You can go to www.katedelaneyspeaker.com. There are links there. It’s got my email address, k8@katedelaneyspeaker.com. Shoot me an email that way, best way.

R. Shawn McBride: Awesome. Great. You’ve provided a lot of value. I really appreciate it. We’ll keep a copy of this video up, and we’ll get a transcript out for people. I’m Shawn McBride with McBride for Business, www.mcbrideforbusiness.com. We’re always helping people bring these business connections. What can they do better in business, whether it’s working with great people like Kate to find your wow and get in front of the media or whether it’s building your business, continuity planning, getting plans that really work. That’s one of my critical messages. I want people to do plans that work, whether it’s planning a media campaign, planning that succession of your business. Thank you so much for being here, Kate. I really appreciate it.

Kate Delaney: All right.

R. Shawn McBride: Happy holidays.

Kate Delaney: You too.

R. Shawn McBride: See yeah.

Kate Delaney: Cool.

 

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity.FreeImages David Siqueira.

 

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws) , gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com, www.rshawnmcbridelive.com/3laws

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

 

 

 

Are You Asking Outrageously?: We All Need to Reach for More

Posted on: December 15th, 2016 by R. Shawn McBride No Comments

We’ve talked about negotiating for what you want in prior blogs,  http://www.mcbrideforbusiness.com/blog/you-can-negotiat…thing-5-key-tips/. My friend and fellow speaker, Linda Swindling, is recently emphasizing the point of, “Are you asking outrageously?” She’s done this as a TEDx talk (https://www.youtube.com/watch?v=OAKj6xXGbMM), and she focuses one of her speeches around it (  http://www.lindaswindling.com/speaking/).

Her core message is strong. Are we asking for what we want? Are we going for what we need? It’s a tough world out there, and we talk about some of the intricacies in negotiations and how you have to work through them. At the end of the day, are you going after what you want? Are you reaching for the stars? Are you going for your dreams?

Now, negotiations are about realism too. We don’t want to ask for too much in the wrong situation. Certainly, if you’re getting towards the end of a negotiation, and most of the terms are settled, you can’t ask for the moon now.

However, if you ask outrageously from the start, you might be surprised by the outcome. As Linda points out in her programs, by asking for more, you can get more. A lot of times, what you want is just there for the asking.

Are you opening yourself up to the possibilities? Are you taking the chances that are available to you? Are you going for the things that should be yours? Are you asking outrageously? Think about it. Ask for more. Get what you truly want.

What’s been your experience? Have you asked outrageously? Have you reached for more? What’s been your experience? Join us in the comments below and let us know.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Kostya Kisleyko.

 

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com/3laws), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com, www.rshawnmcbridelive.com/3laws

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

 

 

Four Ways That Good Plans are Going to Make You Money

Posted on: December 15th, 2016 by R. Shawn McBride No Comments

What is that? Planning can make me money? People don’t think about that. People typically think of planning as being on the expense side of the ledger. However, our experience has shown us that good planning can put you on the income side of the ledger. You can actually make money off the plan.

How is that so? What can good plans do that won’t happen in the lack of planning situation?

 

#1 Good Plans Don’t Have To Be Followed Exactily — They Are A Road Map. A well designed and well executed plan typically will get you a long way to where you need to be. It will point you and direct you, and you won’t have to spend as much cost in the future redirecting yourself. In the extreme example, you could build an entire portion of your business or buy equipment or invest in assets that you never utilize if your plan isn’t designed correctly. A good plan will minimize the risks of these types of situations.

#2 Good Plans Avoid (Internal) Litigation. Good plans make sure that everybody’s on the same page and everybody’s going in the same direction. Particularly with investors or when third parties are involved. When you have a plan and it’s clear, everyone knows what is happening. This reduces the chance of litigation. A lot of litigation results from misunderstandings. One person thinks one thing, another person thinks another thing and the two of them end up in a fight, and it turns into costly litigation. Planning can avoid this from happening by getting everyone on the same page at the beginning.

#3 Planning Acts As An Incentive To Owners. By having good plans, the owners are incentivized to do the right things. You can create a system whereby people are financially rewarded for doing things that are beneficial to the business. This of course benefits everybody involved.

#4 Good Plans Facilitate Communication. Going through the process of planning, and working through the planning is going to force everybody to communicate. That means that misunderstandings are going to be minimized. People are going to be doing the same things. Businesses are going to stay together longer.

What’s been your experience with plans? How have plans saved you money? Have you ever been disappointed with your plans? Why? Tell us in the comments below. We’d love to discuss with you.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances.  This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Krzysztof Szkurlatowski.

About the Author

  • Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com) , gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #mcbrideforbusiness #3lawsofempowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

 

Seven Steps to Prepare for a Better Business Future

Posted on: December 14th, 2016 by R. Shawn McBride No Comments

We like to work with businesses and business owners on building companies they love. We specifically work with private business owners on building companies that stand the test of time. How do you make better plans and how do you prepare yourself for a better future?

Here’s seven steps to take a look at.

#1 Refocus on your dreams. Start by figuring out what you want to accomplish. Where are you headed? What do you want to get to? Focus on those dreams, figure out what you need and desire.

#2 Do a skills inventory. Where are you now? Take a look at your current position. What have you accomplished? What skills do you have in your inventory? What do you have to build from? Where are you starting out at?

# 3 Do a needs assessment. What do you need? You have certain dreams and to accomplish them you’re going to have certain needs. There’s certain skills and abilities that you’re going to need in order to get to where you need to get to — to achieve those dreams. Take a full assessment of what you need.

#4 Compare the two. How do your needs and what you currently have compare? Where are the weak spots? Where do you need to develop? This is your roadmap for development, to prepare yourself for the future.

# 5 Prioritize. You probably have located multiple needs in these steps. Now you want to set a priority and an order for getting them done in a fashion that makes sense to you. Figure out where to focus first. Often this will be the item that requires time to prepare. You may be able to work on multiple needs and priorities sequentially, but you will probably want to get started on the one that’s going to take the longest time to develop, so that you can get that one out of the way and you can start working on other needs as time permits.

# 6 Take a small step. Do something to move towards your goal. Start today. Delaying is only going to cause you to procrastinate. Go ahead and figure out something you can work on now and start making steps forward.

# 7 Revisit. Things are going to evolve. Things are going to happen in unexpected ways. Go back and revisit these processes from time to time and make sure that you’re on the right track and that you’re focused in the right places.

What’s been your experience in building for a better future? Are you prepared for your future? How’s your preparation process going? Join us in the comments below.

Figure out where to focus your attention, first.

Make better plans and prepare for a brighter future.

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

 

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances. Each case is unique.  Past results do not guarantee future outcomes. This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Griszka Niewiadomski.

 

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com), gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com, www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #mcbrideforbusiness #3lawsofempowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

Creating Good Files To Work With Your Attorney

Posted on: December 14th, 2016 by R. Shawn McBride No Comments

In an earlier blog, insert link, we talked about keeping your costs down with your attorney. One thing I mentioned was keeping good records. What do good records look like? My law firm is primarily a transactional law firm. We work with clients on putting together deals or transactions, and documenting them. We will discuss points related to a transactional matter.

#1 Start by looking at your historical records. What shape are your historical records in?  Have you gone through and made sure that everything is correct?  All pieces are there? All relevant documents are there? You’d be surprised how much attorney time is spent cleaning up historical records. For any prior transactions you’ve engaged in, make sure you have the records for them organized and complete.

#2 The current transaction should only contain relevant documentation. Make sure you weed out unrelated documents your attorney doesn’t need to review. Otherwise, your attorney will spend a lot of valuable time digging through your papers. Again, you’d be surprised how much time is spent reinventing the wheel. We want to try to minimize the amount of time spent in an attorney law office, because that’s going to help keep your overall cost down.

#3 Are the objectives clearly defined? When working on your upcoming transaction, you want the attorney to be focused on relevant issues. This means you should have a real conversation in the beginning, talking about what needs to be accomplished and why. That way the attorney is only focusing on those parts of the files and records, which are relevant to the process that you need.

What’s been your experience with putting records together to work with an attorney? Are you well organized? What could you do better? How can you work to keep your costs down in the future? Join us in the comments below, we’d love to hear from you.

 

Make sure you download our free checklist to assess your business:  www.mcbrideforbusiness.com/BlogGift

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances.  This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Marcelo Rubinstein.

 

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com) , gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

 

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #mcbrideforbusiness #3lawsofempowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

Family Dynamics: What’s Good for the Goose is Good for the Gander

Posted on: December 13th, 2016 by R. Shawn McBride No Comments

 

One of the interesting things that come up often when I speak about The 3 Laws of Empowerment (www.rshawnmcbridelive.com), or business planning, is, “How do we deal with family dynamics? What makes these businesses different? How do the 3 Laws function differently in a family context?” I think one of the most interesting issues in dealing with family businesses is the fact that we don’t have the same separation. People often go home, or spend holidays or weekends with each other in ways they don’t in typical businesses. This causes a stress or a strain in the business.

Because of this, we need to build different procedures. We need to have separations. Some people may want to separate time, and say, “This is office time, and this is personal time.” On holidays or weekends, they may want to prohibit business discussions. Families also know each other’s personalities very well. They may interact differently in the business, so we want to start building procedures for that as well. We want to make sure that we take in account of each other’s unique personalities, but don’t allow family members to operate in a non-professional way when interacting with employees. Because of that closeness of the family, you need to make sure they don’t alienate employees.

Hiring, recruitment, and advancements of employees are yet another challenge for family businesses. The family business needs to make sure that they’re clear that the employees are being treated based on merit. Otherwise, they could lose some quality employees who think they’re not being treated correctly.

What are your thoughts on family businesses? What has your experience been? Have you had success? What have you done differently in your family business? Let us know in the comments below. We look forward to hearing from you and discussing.

This posting is intended to be a tool to familiarize readers with some of the issues discussed herein.  This is not meant to be a comprehensive discussion and additional details should be discussed with your attorneys, accountants, consultants, bankers and other business planners who can provide advice for your circumstances.  This article should not be treated as legal advice to any person or entity. Freeimages.com/Photographer

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. He is a frequent speaker at events. His signature keynote, The 3 Laws of Empowerment, gives audiences an entertaining look at how they can prepare, plan and protect themselves. You can reach R. Shawn McBride at info@mcbrideforbusiness.com or (214) 418-0258.

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

Get Shawn’s latest book: www.mcbridebook.com

Add us on Twitter: @McBrideForBus #mcbrideforbusiness  #3lawsofempowerment

Like us on Facebook: https://www.facebook.com/mcbrideforbusiness/?fref=ts

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