R. Shawn McBride Live

Posts for for February, 2017

Building Your Stature and Authority: Getting That Snowball Effect Going

Posted on: February 14th, 2017 by R. Shawn McBride No Comments

If you’re reading this blog, you’re probably a successful private business owner like so many of our readers or you’re aspiring to be a successful private business owner. Part of being successful in business is getting visibility, getting people to know who you are and getting people that understand your business. After all, the more people know who you are, the more people that see you, the more likely you are to find that perfect customer.

It’s like having a billboard on the side of the road that your customers drive past every day. What is that worth just to have people know who you are, and see your name?

One of the keys to building a meaning brand and stature is to be true to yourself. I’ve looked at my journey and I’ve looked at the journey of others as they’ve built a brand, as they’ve built a presence, as they’ve gotten more people to interact with them and there seems to be some common themes.

#1 Authority is cumulative. Your ability to be an authority, your ability to influence thought and to be called upon as a resource is cumulative – a collection of all your work. People are going to look at a variety of things when they’re determining whether you are the right source. They’re going to look at your business, your professional background and credentials, your media appearances, the events that you’ve attended and hosted and spoke at, whether you have a book, and other things. They’re going to look all of this as a totality. At some point, there’s a cumulative effect. The size, scope and amount of these items will determine whether you’re determined to be an authority or not.

#2 It starts to build. As your authority increases, as you do more and more media appearances, more and more speeches, and more and more events people start to single you out. They will see you through all the noise. They know that you are capable of doing it because you’ve done it in different contexts and they will know you can help them.

#3 At some point you have to start saying no. At some point opportunities will start coming to you faster than you can take them in. This seems very far away when you’re first starting out. When you’re first starting out, you’re digging for opportunities. You’re looking for people to accept you and wanting to go somewhere. As your brand builds and as you become more powerful people will actually seek you out. I’ve appeared on a number of podcasts lately and some media. More and more often it is the media hosts approaching me rather than me approaching them. They see my credibility; they see my authority. They know that I’ve done this before. I’m taking a lot of risk off the table for them. Because they know that they’re inviting a known quantity onto the show. They’re not taking the chances that they would be with an unknown guest.

They also want to tap into my following. They know that I’m building a following through my blog, my book, social media and speaking (www.rshawnmcbridelive.com). While the numbers of my followers may be much lower than some other experts, they know that my following is growing. By tapping into it, they can grow their following. It’s a cumulative effect for them too.

What lessons can we take away? How can you or your organization build your authority? I think a key is for everybody to know that authority is cumulative and that it has to be built it over time. There is no one answer. You don’t wake up one day and say, “I want to be an authority,” proclaim yourself an authority and start booking on media, podcasts or speaking events. You have to build it. You have to have others see you as the authority. You want to be involved in articles, to be quoted and build your authority over time.

The other thing that’s clear is that this is not a linear path. Rarely do we see somebody get to be an established authority by any one path. It’s not just one large speaking engagement, one blog article or one book (in most cases). It’s usually these elements combined together – a book, a speech, a blog and a guest article on a site all combined together. All of this stuff works cumulatively together.

The key is a building process.

Start small. Work for accessible events and in accessible locations that already know you or are within your reach and get bigger and bigger. Just like a recording artist. If you are following a musician or singer that you love, you probably found out that their career started at small venues leading to bigger venues. Then one day there were breakout events — a large concert, opening for a major act, getting on a TV show or something that seems random but was seeded by a lot of prior work.

It’s no different when you’re building your brand or your business. The key is to keep planting seeds. Keep looking for small opportunities to get your name out there. Make these small opportunities become bigger and bigger opportunities.

What’s been your experience with this? Where are you in the process? What are you trying to do in the future? Join us in the comments below.

Keep planting seeds to succeed.

Look for small opportunities to become bigger opportunities.

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 toomas jarvet.

 

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

 

 

Making More Money for the Ideas in Your Head

Posted on: February 13th, 2017 by R. Shawn McBride No Comments

Some might call it “creating contextual models to commercialize your intellectual property.” Other would say “making more money from the ideas in your head.” I think it’s what a lot of us want to do.

I can credit both of those phrases above to Neen James, the popular keynote speaker (www.neenjames.com). I recently had an online discussion with Neen, and she was talking about how she was working with a group at Heroic Public Speaking led by Michael Port and Amy Port (www.heroicpublicspeaking.com/live), and how they were working with speakers to contextualize models to commercialize their intellectual property, which is really, really fancy wording. What it really means is getting those ideas in your head in a way that you can sell them and utilize them to help others.

We’ve discussed in other blogs how most people want some form of transformation (http://www.mcbrideforbusiness.com/blog/transformation-its-what-you-are-selling). Your customers want to get from where they are to where they want to be, one step at a time.

How do you create a transformation? For a lot of people who are thoughts leaders and who have knowledge and information that they can transfer to others one of the keys is to get that down in a way that makes sense to others. Conceptualize it. Write it down. Provide it to others. That’s what Neen’s talking about when she makes these types of statements.

What are you doing to allow your commercial and intellectual property to be transferred to others, and how can you make money from it? There’s a lot of different ways, but one of the keys is to put it in frameworks that make sense to others – presentations, handouts, workbooks. There are so many different ways that you can take your intellectual property, those thoughts and ideas in your head, and turn them into something valuable, but the key is organization. Whoever is hiring you to work with them is going to expect you to deliver results, to be on the ball, and to get the information to them in a useful form. And that’s where the magic lies.

Experts, like Neen, help people take those thoughts and ideas and turn them into something saleable. There’s magic in the way you do that. All of us are capable of it, but some people have a better eye for it and some have more experience.

If this is your first time doing this, you’ll probably want to team up with somebody with some expertise and knowledge, like Neen, and get that help that you need. After you’ve done it a few times, you can probably do more and more work independently and then just use others for help along the way.

What are you doing to get your ideas in a way that you can sell to others? How are you getting things to be transferrable? Join us in the comments below and let us know your journey and experience so far.

 

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 Christopher Bruno.

 

About the Author

R. 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

 

 

 

 

Have You Empowered Your Team for Success? Four Key Tests to Employ

Posted on: February 13th, 2017 by R. Shawn McBride No Comments

As I work with business owners and other business consultants, it becomes clear that to be successful, we have to have employees empowered. In The Three Laws of Empowerment for High Growth Companies (www.rshawnmcbridelive.com), I talk about how to empower employees, how to make them motivated to do what’s right not just for themselves but for their company, and how to accomplish more.

What does it mean to empower employees? How do we know if employees are empowered? Here are some tests that you can employ to see how you are currently doing.

#1 Can your employees make routine decisions on their own? We’ve talked about systems and processes in earlier blogs http://www.mcbrideforbusiness.com/blog/building-procedures-a-systematic-approach/ . If you have good systems and processes, and a clear organizational mission, employees should be able to make routine decisions without consulting management. They should know how the process flows and why. Even when things that are slightly out of the ordinary come up, they should be able to look at the process flow and determine what decision makes sense consistent with the organization’s mission and processes.

#2 Are your employees thinking for you? Are your employees spotting opportunities in your business? Are they figuring out how to do your business better? Or are they acting more robotic? Are they just punching orders in?  If your employees aren’t thinking and seeing opportunities for the business – then you have a problem.

#3 Are they responding to unusual situations? Are your employees looking at what’s truly going on and spotting what’s unusual in your business or are they order processing?  If management isn’t learning about problems with the systems – then there is a problem.

#4 Are your employees excited? Are they energized about doing what they’re doing? Are they looking forward to helping your business grow? Or are they dreading coming to work every day? Is everyone in the organization seeing the big picture? Is everyone focused on the ultimate goals and how it effects everybody globally? Or is everybody in it for themselves?

Empowered employees will do more. They’ll help your organization grow. They’ll look for opportunities. If you’re not seeing people act in an empowered way in these four tests above, then you probably got a problem. You probably have too much control.

There’s a balance between control and empowerment. If your organization is truly going to grow, you’re going to have to give up some degree of control. You’re going to have to hand it over to your employees. You can do that in a very mechanized, mechanical way, which is going to continue to limit your growth, or you can do it in an empowered way. I think it’s key to see which way the organization is working in order to determine where you’re headed and how you’re going to grow.

 

What’s been your experience with empowering employees? Have you taken the steps to empower your employees? Or are you surprised with some of your thoughts from these questions? Join us in the comments below.

Empowered employees will do more for your business.

Keep employees motivated to grow your business.

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 Krzysztof Baranski.

 

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

 

Buy-Sell Provisions: and The Kid Cutting The Candy Bar

Posted on: February 9th, 2017 by R. Shawn McBride No Comments

I spend a lot of my time setting up partnership agreements in different forms — working to make businesses that work economically with multiple involved. One of the things I always tell my clients is we need to protect their wealth. We need to make sure no matter what happens, that wealth that everybody has worked so hard to create, that they’ve contributed time and energy to, is indeed protected.

One of the typical ways to protect the wealth of business owners and partners is using some form of buy-sell provision.  A buy-sell provision simply allows one owner to buy out the other if that becomes advisable for the future of a company. The goal is to have provisions in the company documents that allow the ownership to get realigned if the early owners of the company become unable to work with each other.

There could be for a variety of reasons a buy-sell provision could be triggered. The reasons don’t really matter, but often it’s a disagreement about the future and the direction of the company. In those cases, rather than go to the courthouse and spend all that time litigating over the future of the company, and possibly getting a receiver appointed who has no knowledge or care for the company, what’s often better is to have some kind of exit mechanism in place.

That exit mechanism is often a buy-sell provision. These buy-sell provisions come in many different forms. Often what we use in these cases is what a lot of people call a “push pull provision.” It’s a fancy word, if we’re talking about a situation where one partner will make an offer to the other partner, and the other partner will decide if they’re the buyer or the seller. Then the first person sets the price and the second person determines who buys and who sells.

This is an inherently fair provision (at least on the surface) because it means that the first person has to make a reasonable offer because they don’t know which side of the deal they’re going to be on.

It is very much like that kid cutting the candy bar. You remember when we were children you would hand the candy bar to one kid who would cut it in half, then the other kid would decide which half they wanted to keep. The first kid is usually very careful to cut the candy bar exactly in half, because they don’t want to get the smaller half. Here you can use the same logic in your business. It’s an artful way to do things, and certainly something you should keep on your radar.

However, it can be gamed by liquidity of one party or in certain situations so it’s not as perfect as it looks on paper.  When it comes time to set-up a buy-sell provision for a business that matters you want to make sure you get this one right.  Read up on it, and if the stakes are high hirer a professional to help you get it right.

What’s been your experience? How have you dealt with the possibility of disagreement with your partner? Do you have provisions in place to protect you, to protect your wealth? Join us in the comments below.

Fair provisions so everyone is happy.

Realign business.

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 Thad Zajdowicz.

 

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

 

 

 

 

 

The Hidden Benefits of Planning

Posted on: February 8th, 2017 by R. Shawn McBride No Comments

Section 1031 exchanges. If you’re reading this blog, you may not even know what a section 1031 exchange is. Section 1031 is a section of the federal tax code that allows property owners to exchange one property for another and to defer the taxes on it (not get taxed immediately upon exchange). It can be a very powerful tool. However, this blog isn’t about Section 1031 exchanges.

I want to use it as an example of how planning can bring unexpected benefits.

I was recently speaking with Holly Signorelli, www.themoneytherapist.com/ on a video interview, and we were talking about plans and some of the common failures we’ve seen in planning and issues we’ve seen good hardworking successful private business owners make. As we were talking, she raised the topic about some of her real estate investors and structuring. A lot of times, people had missed the opportunity to use Section 1031 exchanges in their planning. They missed a very powerful tool in their planning arsenal. And why? They didn’t involve others in their plan. They lost huge tax benefits because they didn’t know they existed, because their plan wasn’t fully developed, because their plan wasn’t vetted with others.

There are countless other examples of opportunities missed such as exits of the company to different buyers, different trajectories companies could be on, and missed sales opportunities. All because of a lack of planning and a lack of execution. None of us know it all. We’re all human, and we all have blind spots. We suggest using planning and collective enterprise management with a team of inside and outside advisors to make sure that we are all working on the same page, so that we’re all moving forward and to make sure that we’re not missing any huge opportunities.

Planning can be your best friend. In The 3 Laws of Empowerment (www.rshawnmcbridelive.com), we talk about preparing, planning and protecting. Three very simple principles to underlie how you make decisions, but each step needs to be done very carefully. With the right planning, you can make sure you get to the right place, that you don’t miss opportunities.

How carefully have your plans been vetted? Are you missing some opportunities? Do you know where your blind spots are? Let us know in the comments below.

Planning brings unexpected benefits.

Don’t miss opportunities and plan.

 

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 typofi.

 

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

 

 

 

 

Backup Plans: It Sounds Simple, Right?

Posted on: February 7th, 2017 by R. Shawn McBride No Comments

We have plans in case something doesn’t go as expected. Sure, we do this with our vacations. If it’s going to rain on Tuesday, we won’t go to the amusement park, we’ll go shopping.

But that’s pretty mundane and pretty inconsequential in the grand scheme of life. What about bigger decisions? What about running your business? What about protecting your livelihood? Do you have sufficient backup plans in place? Have you determined what you’ll do if something happens to your business? How will you protect your wealth? How will your bills get paid? How will you make sure your customers are serviced? How will you avoid breaching contracts and getting sued? What happens if business doesn’t go as you expect?

Many of these things are easy to plan for in advance, to run through with your management team and skilled advisors to make sure you have the right plans in place to make sure you’re protecting yourself. If they’re not done at the right time, these very simple things can fester into huge problems. We encourage our clients to do the simple planning early on, to make sure that backups are made and contingencies are planned for. Avoid problems before they become problems.

What are you doing to protect yourself? What contingency plans have you made? What would happen if there was a disruption in your business? Let us know in the comments below.

Avoid problems before it is too late.

Have sufficient backup plans in place, in your business.

 

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 C. We.

 

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

 

 

LLC Agreements: Backup Managers

Posted on: February 6th, 2017 by R. Shawn McBride No Comments

I work with a lot of companies, and I write a lot of LLC agreements in the course of a year. It’s often the central document to the business formation, or the future of a company. I’ve seen forms written by myself, I’ve seen forms written by many law firms and of course, I have seen Legal Zoom and other competitor’s forms.

You know what I rarely see in any of these forms? Backup management plans, particularly in the single owner situation. What happens if one of the owners is unable to participate in a business? Who runs the business? If the owner goes into a coma, what would happen to the business? Who would write checks? How would bills get paid? Who would be able to call customers? Who could negotiate a new lease?

These are simple, real world examples of terrible disruptions that could happen if a business is entirely dependent on one person. What we like to do in our LLC agreements is build protections in with backup management authority that kicks in when needed to make sure the company can keep moving forward, to make sure that the business is protected.

What’s in your documents? What planning have you done? Are you protected for these situations? Let us know in the comments below.

Backup plans for single owner situation.

LLC agreements with built-in protection.

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 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

 

 

 

Unlocking Your Business Value: Preparing for the Sale

Posted on: February 3rd, 2017 by R. Shawn McBride No Comments

It is rare when I get to work with a business owner well before they are ready to sell their business. Normally when I am approached, the business owner has already made the decision to sell and they are ready to sell now. However, in some instances I get calls well in advance of a sale where a business owner is actually being proactive and thinking about their succession from the business and how to get the value. This is where the most value can be added. What do you need to do in preparing for a business sale? What do the steps look like?

 

#1 You need to build a business to where it works without you. You need to have a way to exit yourself from the day-to-day operations. So many small and medium-sized businesses are dependent on a particular person to be involved, a particular skill, a particular customer list or a particular knowledge. A business that is going to be sold for a high value needs to be made big than any one person so that when that person leaves the business will still continue to be financially successful.

#2 You need to build the cash-flow and profitability. Most business valuations are based on cash-flow, profit and a multiplication thereof – so we want to get those numbers as high as possible and going up. Depending on the business, the assets may not matter much to the valuation. A small number of assets does not necessarily mean a small business sale price. Do you have a good customer list? Do you have a valuable brand? Do you have other things that a buyer would attach value to in continuing your business or attaching your business to their business? Figure out where the value is and maximize the cash-flow from it.

#3 Think about who your potential buyer is. Obviously, you can bring in a business broker or offer your business for sale to other people and you may get a great third party buyer, but your buyer may be hidden in sight. You may have an employee or somebody who you are familiar with, maybe a customer or a vendor who would be a natural buyer. You need to start thinking about who those buyers are going to be sooner, rather than later. The more you plan ahead, the more you start thinking about the sale as an event that is going to happen at some point in the future, the more you are really prepared, then the more value you are going to be able to extract.

What has been your thoughts on the business sale process? Have you been looking forward to a sale? What steps have you been taking to get your company ready for sale? Join us in the comments below.

Be proactive and plan ahead.

Plan and prepare to add value to your business.

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), 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

 

The Critical Path: What It Is And Why Do I Think Of It Constantly?

Posted on: February 2nd, 2017 by R. Shawn McBride No Comments

I love management theory. I mean, at the end of the day we need to deliver real world results to our clients, but management theory can be great for helping us conceptualize things. They make you think about how things fit together, put two and two together and reframe how we’re thinking about things. Some management theories are very useful and one of the most useful theories for me is one called “the Critical Path.”

I learned about this theory as an undergraduate studying business administration and I’ve used the theory again and again in my life as I’ve built my law firm (www.mcbrideattorneys.com), as I’ve built my strategy firm (www.mcbrideforbusiness.com), and my speaking business (www.rshawnmcbridelive.com).

So, what is this and why is it so powerful?

The concept of the critical path is to lay out the various steps you have in a project in an organized fashion. You’re going to look at the order of operations. Which things need to be completed before the other things. What order do things go in? How long is a particular segment of the project going to take?

Once you’ve completed this powerful planning for your project and broken your project down into intermediate steps (which by the way, is a great help to begin with) then you look at which items on the project list are critical to the overall competition times.

Which ones need to be focused on and completed so that the next steps can be taken?  Some of your steps won’t be as important to overall timing so this tells you where to focus your attention.

For instance, if you take your business development plan, break it into a variety of steps that logically flow from one to another you will be able to concentrate on the ones that are on the critical path (the ones that are so critical to your overall timing).  That’s where you can keep your attention focused.

You don’t need to focus as much on the items that are on the non-critical path because you have more leeway to work on them. Of course, you can’t let them sit forever because if they do, they’ll become critical path items in themselves. But it’s a great way to think about it and analyze where you are and where you’re going with your business and to make sure you’re focusing your attention in the right place.

What’s been your experience? Have you used a critical path? Would this planning help you? Join us in the comments below and let us know what your experience has been.

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. 

 

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

Shock to The System: What Would You Do?

Posted on: February 1st, 2017 by R. Shawn McBride No Comments

Pause for a moment. Think about what you would do if you weren’t available for your business. What would you do if you couldn’t come to work one day? You had a terrible illness. You were in the hospital. You were stranded without communication. What would happen? Would your customers be serviced? Would your business continue to move forward?

What if your absence was longer? How would the bills get paid? How would your staff continue working? What would happen?

These are real world situations that happen to real businesses. Sometimes owners or management teams can’t come to work for whatever reason, whether it be illness, disability or other disruptions, and it’s key that you have plans in place. So many business owners admit to me in deep discussions that if something happened to them, their business would get completely sidelined. They would be completely disrupted. What would happen to yours? How would your business work?

These are tough questions, but plans can be built. We can build redundancy into management. We can make sure that the company continues to move forward, even if something happens to the owner, boards of directors, management teams, or other authority in your company.

What would happen to your company? Have you thought about what a disruption would do to your business? What it would cost? What it would mean to your operations? Join us in the comments below and let us know.

Build plans.

Company moving forward, during disruptions.

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 Pierre Amerylynck.

 

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

 

 

 

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