R. Shawn McBride Live

Posts for for July, 2017

How to Avoid the Traps of Processes and Procedures

Posted on: July 25th, 2017 by R. Shawn McBride No Comments

Customers don’t care about your problems.

Customers turn to your business for a particular result and outcome. They don’t care about your processes and procedures. They don’t care what you had to do to deliver the end result. I find that too often businesses of all sizes forget or lose sight of the fact that customers don’t want to understand what’s going on in your business.

In the world of public speaking, we talk about delivering a transformation, a big change. How do we help our audience members get from where they are to where they need to be? Those are our customers. I’m helping them achieve their dreams. We need to keep the focus there. Customers want to know their needs are met, regardless of what it took on our part. Customers don’t care about all the forms we’ve filled out, all the internal processes we’ve set up. It’s very bottom line.

All too often I’ve seen companies get caught up in their processes and procedures. Yes, we love processes and procedures. They certainly can be a great way to control your business and make sure you deliver tremendous value to your customers at controlled cost. What happens all too often is that companies allow the processes and procedures to control the business. That shouldn’t be the case. The focus should be on the customer. Things should be done in a customer-friendly way, but there needs to be processes and procedures on the backend to make sure the business works properly and efficiently.

If you hear yourself telling your customer, “That’s not our process. That’s not our procedure. That’s not how we do things,” know that you are losing. What are you doing to be customer centric? How are you making sure that your problems and business systems aren’t becoming your customers’ problems?

Tell us in a comment below and let us know your thoughts and experiences.

Make sure you download our free checklist to assess your business.

 

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 arthurbur .

 

About the Author

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

Check us out on the web.

Get Shawn’s latest book.

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

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Don’t Fight for Misalignment: Work With Your Tribe

Posted on: July 24th, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about business partners working together.
Hey folks, Shawn here. I want to talk about an important issue I see in business – do not fight for misalignment. I see too many businesses fighting for misalignment. Of course, a lot of what I do is dealing with business partners and business partner disputes. And a lot of times people stay in misalignment for way too long.
They’re misaligned with their business partner and they are going in different directions, but yet they feel stuck with each other. And we really need to break out of that bond, we really need to do something different.
Other times, I see misalignment come up is when businesses are dealing with customers that aren’t their perfect customers, or they have vendors that they have an adversarial relationship with. If you start seeing that you’re not aligned with somebody, if you’re not agreeing, if you’re not moving in the same direction, if you’re not in synergy with each other – it’s time to move on. We need to break those ties, do something a little different; build a different direction. So if you’re seeing misalignment, do not fight for it. Terrible things come out of this.
When we see misaligned people, we see businesses that aren’t growing. The value is not going to be created. People are not being creative, they’re not being themselves; they’re spending their energy on maintaining a difficult relationship rather than building and growing. And that’s what we don’t want.
We want building and growth. So I want you to stop and pause for a second. Think about what’s bothering you. Who out there is really frustrating and irritating you? Is it your business partner? Is it a customer? Is it a vendor? Put a circle around it and think about that. And now, why is it bothering you?
You probably have differences in values, or ideas, or philosophies on business, and we want to break that mold. And what we want to do is start going in a better direction, evolving the business and doing more. So, I want to challenge you, hunt out that misalignment; look for it. And then start thinking about a strategy to eliminate it. In some cases, it may be easy to eliminate. A small customer that is really irritating you is very easy to make a quick change. A bigger customer is going to take a little more time.
You’re going to need a transition plan; you’re probably going to have to replace the revenue. If it’s your business partner, that’s an even more complicated situation. We talk a lot in our blogs and our videos about changing business partners and the fact it happens. Of course, at some point you may need to bring in a lawyer or an advisor; we work a lot with clients on that. But we’re not the only choice in the world; you want to find the one that’s right for you. Someone that really understands these issues that can dig in and can help you. Someone with our level of expertise, whether it’s our firm or another.
If this is something that’s of interest to you and you want to do some more background research, check out www.mcbrideforbusiness.com/blog or www.mcbrideattorneys.com/blog. Both of those venues you’ll see more information. The R. Shawn McBride public page on FaceBook has lots of great videos like this that will help you work through a number of issues and the McBride for Business YouTube Channel also has great videos. So check them out, share them as you need to, let other people see this information, and let’s help each other build our great businesses. Talk to you soon.

Make sure you download our free checklist to assess your business.

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 Ryan Stricker.

About the Author

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

Check us out on the web.
Get Shawn’s latest book.
Add us on Twitter: @McBrideForBus #McbrideForBusiness #3LawsofEmpowerment
Like us on Facebook.

3 Smart Strategies for Business Improvement

Posted on: July 24th, 2017 by R. Shawn McBride No Comments

If you’re going to build your business – and be all you can be – you must constantly look at how to change not only because your competition is but because that is the key to growth. How do we build a culture of improvement?

#1. We need an organization that’s willing to change. This is critical. Too many businesses get by in their old systems and processes and the way they’ve always done things. If you have a lot of employees saying, “We can’t change because that’s the ways we’ve always done it,” then you’ve built the wrong culture. Your employees need to understand there will be constant change and adjustment, and that is the priority.

#2. We need to keep a relentless eye on improvement. We need to understand weaknesses. We need to understand what needs to change. We need to be seeking feedback from others so that we know where to put our time and attention.

#3. We need to stop and think strategically. All too often we’re looking for incremental improvements, which can be great. If we see a process or something going on in our business that needs to be changed, we need to make the change. There’s bigger stuff out there. The markets are changing, demands are changing, technology is changing. What are we doing to look toward these changes and opportunities to make certain we are on top of them before they become something that’s critical to us?

How often are you reviewing with your teams? Don’t simply look at where you are today but where you’re going to be in a year, in three years and, more importantly, 10 years. The entire team should understand the vision, goal, and direction, and be working to accomplish the mission as soon as possible.

Improvement requires a lot of hard work. Many companies fail to make the necessary improvements to grow and stay in business. But we can be different. The key is to embrace a culture of improvement and constant change. We need to be on top of these issues before they become too big for us.

What are you doing to make your culture focus on improvement and change? How are you making sure that great things will happen your organization’s future? Join us in the comments below and let us know about your experiences.

Make sure you download our free checklist to assess your business.  

 

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 Helmut Gevert.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

 

Building Your Empire: Laying the Foundation

Posted on: July 21st, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke to Holly Signorelli about building a foundation for your business.
R. Shawn McBride: Hey everybody, R. Shawn McBride here with you live, I’ve got my friend Holly Signorelli joining me here, and we’re going to be talking about building a foundation for your business. So, both of us work in different areas. Holly’s a CPA that actually practices as a CPA, I’m a CPA that doesn’t practice as a CPA, but I do legal work, and both of us help people really build big stuff. And a lot of our clients have done big stuff over the years, we’ve helped them lay the foundation. We really want to start helping spread that message and get more people doing it. So, Holly, maybe you want to take a second or two and give a little background about you and what you have done to help other people build their enterprises and businesses over the years?
Holly: Yes, I’m a wealth strategist and a CPA, obviously. I’ve worked with thousands of entrepreneurs from startups to multi-millionaires, and like you said, it’s all about setting the strong foundation because things keep changing and there are legal things to think about. But also, if you want to sell your company one day, even if you aren’t planning to sell your company, you may want to one day and so there’s a lot of things you need to do in the beginning to make that happen.
R. Shawn McBride: Right, and it all starts with a foundation, right? You need to know kind of what your vision is, where you might end up at, what you’re going to do so that you can start tailoring things to get to that solution.
Holly: That’s right. And I find I’ve been doing a lot of speaking engagements right now with lots of different entrepreneurs and I still find that everywhere I go, most people don’t really understand the power of the S corp. You know, it’s that they know that there’s an LLC, and they always ask if they should be an LLC. But so many people that I deal with, even people that aren’t looking for an LLC, don’t realize that you have to decide what kind of LLC that you want to be. Because if you don’t, then you’re really getting taxed like a sole proprietor. Then you’re paying federal tax, and you’re paying social security tax. And that’s where, when people finally have their first good year and maybe they’ve netted out $100,000, they end up owing about 30 grand in tax, which is a lot of tax for $100,000 nowadays.
R. Shawn McBride: Right, and part of this is just smart planning. And you’re also looking towards an exit at some point, right? At some point, this business is no longer, at some point you want to exit or transition out of it. You’ve got to have a strong foundation there, you can have some tax surprises there. We’ve talked about that, some of the real estate holding side.
Holly: Oh yeah, yeah. There’s a lot of things that real estate investors don’t think about in terms of how long they need to hold a property and how much they’re going to have to pay for that. And I was actually on a radio show last week. We were talking about flips, and basically, when you flip a property, for example in real estate, it depends on if it’s a short-term transaction or a long-term, in how much tax you’re going to pay. But if you flip enough properties, then the IRS can actually come in and say this is not real estate anymore, this is your active job. Like, you’re going to get paid with normal taxes, and a lot of people don’t know that too. So it’s the things that you don’t know that you don’t know. That’s the problem.
R. Shawn McBride: Right, and it all starts with a plan and a vision and knowing where you want to go. And then, you and I, I think we both, we’ve worked with a lot of different people over the years. We’ve got a lot of coaching and counseling in building our businesses. And we’ve obviously read a lot and learned a lot from of other people. But the quickest way to learn is to bring somebody in who has that applied expertise. Which is what I do a lot in my business. When I have a particular need, I’ll bring somebody that knows how to do a particular area. And this accounting stuff and this legal stuff’s a little bit complicated. You don’t know what to expect.
Holly: It’s not a little bit complicated, it’s complicated. And again, it’s the things that people don’t know that get them in trouble. And a lot of times they just don’t, they don’t even know to ask the questions. So I tell somebody that if they’re newer in their business and they have a little bit of a budget, then still just have that consultant. Just, you know, find out what they need to know from the beginning, to make sure that they set up the right company and that they don’t end up, I mean you’re going to pay way more in taxes then you’ll pay for a consultant, that’s for sure.
R. Shawn McBride: Yeah and a lot of times like that quick advice, in the beginning, to get you pointed in the right direction can save so much money on the back end, that the two aren’t even comparable. I mean, a little bit of money in the planning stage, you change your structure and then change how everything works about our company, can lead to completely different outcomes.
Holly: Yeah, and I’d had that same problem myself even years ago when I had a bad real estate deal because I thought, you know, that I knew everything, right? But I didn’t, and so there was a few mistakes there that did cost me a lot of money. And that’s why I really started doing most of what I do now, is for people to be educated about the things that they just don’t know, so they don’t get into that kind of trouble. Or so that they can be proactive about the whole thing.
R. Shawn McBride: Right, and a lot of this is specific. But you really, part of this is just running some new wave scenarios, right? So you have a company, you want to build a company. What’s your what-if scenario? What if this goes to this size? What if it goes to that size? Then you would probably help people with tax deductions and understand what the taxes situation would look like depending on which way they go.
Holly: Yeah, another thing like that though, with partnerships, is when getting along with people, is a lot of times there are people that are working with somebody that they’re not actually technically a partner. They haven’t set up the partnership, they’re not actual real partners. But maybe one person owns the entity and they’re working, or maybe I should say collaborating with somebody and they’re saying, “Okay, when I sell this property then I’m going to give you “a piece of that income.” Well, you don’t want to do that in real estate because you want to make them a partner. And when you have a partnership, you know even more about this than me, you can make all kinds of things inside of the partnership, where somebody could maybe have more control or somebody’s putting money in. But if you tell somebody that you’re going to give them a piece of the income, that’s going to be really expensive for them on their tax return, versus a short-term or long-term capital gain.
R. Shawn McBride: Yeah, you know, this is another area where you see a lack of planning is in partnership. Let me tell you, I don’t care if you come hire me or who you talk to, to think of partnership, you want to talk to somebody – there are liability implications. And a lot of times what you end up with is the worst of all worlds. You’re going to get slammed on your ass. And if something goes bad, that partnership’s going to come back and haunt you. So you want to really work with the right advisor to make sure you have a liability protection for assets so that you’re going to be safe and that you also want to then make sure you have that right accounting set up and the taxes set up so that you don’t get a tax surprise either. You want to understand how everything’s going to work.
Holly: Yeah.
R. Shawn McBride: I tell you, based on the court cases, you know, if you don’t do the planning you’re going to end up kind of with the worst of all worlds. You’re going to have additional liability exposure and you’re probably going to have some bad tax consequences.
Holly: Yeah, and this happens a lot with family members, too, because a lot of people do seem to understand an arms-length transaction, you know, like if you’re selling to a family member you can’t do that thing anymore where you sell it for $10, you know, you have to transfer it with what the value is now. But that doesn’t apply to if you sell something and give part of the gains to a family member. It’s, you know, you don’t get to transfer that long-term capital gain over there, they have to be a partner. So that’s something I think those people . . . I really want them to know and understand, because that’s something that can really, really cause a huge amount of tax and then there’s nothing, you can’t fix it once it’s happened. But even if you didn’t already create a partnership the way you were supposed to, or you want to bring a family member or a friend or somebody that you’re collaborating with, you can still change that. You can still add them to the partnership, depending on when you are going to sell either the business itself or the real estate.
R. Shawn McBride: Right, so there are a lot of pieces there to pool that all together. It’s just, the key is to build your plan, get that vision and that dream, and then start pooling the team together. And it doesn’t have to be me for your lawyer. But if you want to work with us, you know, we can see whether there’s a fit there, I think Holly feels the same way. But the important thing is you got to get a team together. You got to figure out who you want to work with, how to build your team, get the right team put together. Do not just jump into this stuff later. I have a client right now who signed a partnership agreement a while ago, now they want to exit. And they’ve got a lot of liability exposure because this was not carefully drafted. And I’m sure you’ve seen some gotchas with your clients.
Holly: Yeah, definitely with either partnerships or S corps, where there are partners because I think, you know, S corps are really really simple. If you have a small business and your business could be ten million dollars and be called a small business. An S corp is just the way to go. It is very easy to set up. You just have to do one extra form to do the S corp election, and then you have the limited liability and you can save a lot on taxes because you don’t have to pay social security on all of your income, just part of it. And it’s really just one of the best things that the IRS has for small business to help them out on the taxes.
R. Shawn McBride: Right, and with modern-day planning, you can actually be an LLC for state law purposes but then be an S corp for tax purposes. So you’re simplifying.
Holly: Exactly.
R. Shawn McBride: You’re blending a lot of good things together. So a lot of planning there. Holly—
Holly: When people have LLCs now, they don’t have to do the minutes like back in the day, right? Or is there something they have to do?
R. Shawn McBride: Well, if you build it correctly, this is one of the things you want to be careful about. I do see some LLC agreements where people are getting forms off the internet. They’re, you know, and then they don’t have maybe a careful lawyer there and some people have brought over kind of this minute requirements into their LLC agreement. But for most LLCs, there’s no real reason to want to have that, so I’m not sure why lawyers or forms are crafting in there. But you have to be careful because I do see them come up there. People are not careful about these inclusions in their documents. So, typically no. There’s no requirement that you have these meetings with your LLC, if you have a well-drafted LLC you get away from all those minutes and resolutions, and things that people forget to do in preparation, which cause liability later. So, you get the best of all worlds if you do it right from the beginning.
Holly: Well that reminds me, too, of a question that someone asked me yesterday, that people do ask me a lot. And that is, when you have a company and basically just a sole-proprietor, and you decide that you want to have the limited liability, when you take those assets, whatever those assets are, and you take them from yourself to your new LLC, don’t you have to draft up some kind of document for that? I mean, you can’t just put it in the LLC. Don’t they need to have some kind of document for that?
R. Shawn McBride: Absolutely, you’re going to want documentation — you are transferring legal assets from one entity to another. I mean, it would be no different than me selling you a car. I would have to execute the title, you would have to record the title in your name. Other things other than cars don’t have titles, but we have ownership, typically when we do those in written contracts, you know? A buys and B buys. It’d be A sells it, B buys it, you have a bill of sale or other transfer documents, and if you ever have an audit with the IRS in the future, a legal liability issue, et cetera, people are going to say, “Well where’s those written transfer documents “showing the LLC owns these assets?” You could be setting yourself up for a huge problem because if you didn’t have the written document where you transferred from your personal name to your LLC name, somebody could argue that you still own that asset in your personal name and then they could try to attack you with personal liability. So these are little blocking and tackling things that, you know, we want to get ahead of with our clients and these are just little gotchas that, hey, you know, most businesses are it’s their job is to run their business. They know how to deliver a product or a service, and a great value-added way to a customer and they’re fantastic at it. But these little gotchas can be buried in the background.
Holly: Oh yeah, definitely. I think it’s so important with something like that, I know there’s a lot of things too, that you can get online and maybe if it’s something as simple as a contract for a contractor or an employee, maybe those are kind of cookie cutter, but when it comes to transferring assets, I think that’s really critical. Because like you said, even if it’s your own entity, it’s still a separate entity. And now you have limited liability and it changes a lot of things, so it needs to be very formal.
R. Shawn McBride: One of the things, of course, we’ll look at when a liability case is, did you treat it as a separate entity or did you treat it like an alter-ego, another version of yourself? Or if you didn’t transfer the assets and you weren’t careful about who had ownership of the assets and have the good books and records, then the courts are going to look at it and say this wasn’t fair to creditors, it wasn’t fair to the people who are suing you, and therefore we’re going to expose your personal assets. It’s a huge time bomb when it can be done easily in the beginning.
Holly: Yeah, and definitely you can’t, you can’t do that when somebody is already in a lawsuit, right?
R. Shawn McBride: Right, too late, too late.
Holly: Yeah, it’s too late.
R. Shawn McBride: The lawyers are basically going to say, “Where are things at now?” They’re going to want a snapshot at how things look at that moment. And they’re going to assess from that moment, you know? They’re going to say, “Here you are and this is the situation.” You know, “Let me see where the records are now?” And if there’s not a record there showing the transfer of the assets and the assets were properly titled, et cetera, at that point you’re, you know, you’ve already lost.
Holly: Right. Yeah, it’s so important.
R. Shawn McBride: Yeah, so very important information. Holly, how do people get ahold of you?
Holly: I’m Holly at www.themoneytherapist.com, and I have all kinds of good coaching programs on there and some inexpensive programs that will help you set up your LLC, especially if you want to sell it. So I’ve made those intentionally affordable because I feel like the people that need that information the most really can’t pay a lot of money. But it’s really really great content. Or you can just have a one-on-one with me at www.themoneytherapist.com.
R. Shawn McBride: That’s fantastic stuff. I’m Shawn McBride, my mission is to help people build companies and moving forward from there, whether it’s strategy or getting more partnerships together, or really kind of lay that foundation and update it from time-to-time. And that’s my goal, is to follow all of our visions and our dreams and we’re getting where we want to go. So, feel free to reach out to me at McBride for Business. Holly and I’ll do another one of these here in the near future for you and bring you some more great information. Let us know what you need. If you have topics you want to talk about, let us know. We’ll get them in the future sessions. So just reach out to us. Alright.
Holly: Absolutely!
R. Shawn McBride: We’ll talk to you all soon!
Holly: Alright, bye!

 

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 dlritter.

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

How to Engineer Your Company to Run Your Way

Posted on: July 21st, 2017 by R. Shawn McBride No Comments

We have flexibility and freedom in today’s world to build companies in different ways.

We want to engineer companies to run the way you want. As an attorney, I often work on structuring companies to work the way the owners dream — the way investors want to interface with each other and the way they want to get things done.

I build a custom blend for them to meet their very specific wants and needs. It goes beyond just the legal structure. It also involves the management structure and how processes flow. We’ve talked before about your captured power, all those unique things that you do that nobody else does that creates so much value for the economy.

Build from your captured power. We want to engineer the company to flow in a way that makes sense for you. This is a top-to-bottom issue. It’s how you interface with your owner. It’s how you build transition plans for the future. It’s how you work with your teams on day-to-day processes. We want to start with understanding the unique powers of all key parties in the business.

What does each person do better than anybody else in the world? What are her gifts? We want to focus his time and energy on those things, and the systems and processes throughout the business should allow that. As the business grows, people should spend less time on tasks that aren’t in their area of greatness. Just because people are good at something doesn’t mean they should spend their time and energy doing it. We want people in their zone of greatness, most of the time.

How do we engineer companies to work around us?

#1. We understand the core competency and power. We know where to focus.

#2. We build processes and systems to eliminate tasks that are not core to individuals. We enhance the amount of time they can spend on other things that are core to them.

#3. We keep a constant and relentless focus on that ability and use as much of that ability as possible.

#4. We keep engineering our growth to focus more and more on that captured power. As the company grows, we move employees into roles that fit them and give them more responsibility in their core.

#5. We think strategically. We think about servicing customers now and in the future. We focus on how we will deliver in a more powerful way in the future.

It’s not easy to do the work, to move your teams around and to focus on greatness. It’s not easy to build the necessary foundation. But these are activities that will help you build a world-class organization.

Make sure you download our free checklist to assess your business.  

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 .

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

 

What is the Success/Fear Line? What is it and Why does it Matter?

Posted on: July 20th, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about recognizing success and failure.

Hey everyone, Shawn here. I want to talk about the fear versus success line and how to get above it. So, a lot of times we see a line between fear and success. And it’s almost like you can draw a line across a plane. And if you get above the line and you start having success, we start seeing a spiral effect and a hockey stick upwards. But the same thing can happen with a fear line if you get below it.

If fear starts to overwhelm you, we start getting a very bad spiral. The fear can grow; financial resources can dry up. You really can stop doing the things that you want to do and things can get halted. So we have this very finite line, fear versus success. It’s almost exponential: if you get above the line, you’re going to have exponential growth, and if you fall below the line you’re going to have an exponential downturn. And the difference between the two is subtle, but it can be very clear which side of the line you’re on.

So how do we manage this? What do we do? We need to have the voice of experience. This is where coaching comes in. I’ve talked a lot about coaching recently and this is where very good coaching is very important. Because if you get the right coaches and you get the right team going, they can see the things that are getting you above the success line, and they can help you manage the fear. And that is critical, to have that voice of reason, and more importantly that outside point of view.

You’re tied up in your business. You’re tied up in your entrepreneurial effort. You see what you see. You don’t necessarily see the big picture. And your coach or your outside advisors, they can see what’s happening, and they can tell you if you’re moving in the right direction. Because they can see those early hints of success, that you’re probably too much in the weeds, and they can also see if you’re going on a downward trend. It can make a huge difference in your business.

So, the key is to getting aligned with some coaches that you like and trust. And build a team around you that’s very objective, that’s very real with you and allows you to do the things you want to do.

Now if you’re looking for a coach like that, that’s something that we offer at McBride for Business. There are other great coaches out there. You really want to interview some people and find the ones that are a right fit for you, and I’d love to be part of that conversation.

There are more resources at the McBride for Business blog. You can read about this and other issues. Also the McBride Attorneys blog. And you want to make sure you download your Maximize Your Business Value checklist. You can scroll through, drop your email address, and we’ll get a document out to you that will help you make sure that you’re getting the maximum value for your business.

And if you like this, check out the R. Shawn McBride public page on Facebook, and go to the McBride for Business YouTube channel and subscribe. R. Shawn McBride signing out. I want to hear from you. Write me, let me know what you’re dealing with. Talk to you soon.

Make sure you download our free checklist to assess your business.  

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 Kruno Knezevic.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

 

 

 

Do You Remember Your Dreams?

Posted on: July 20th, 2017 by R. Shawn McBride No Comments

We all dream.

There’s something so human about our ability to want something, to desire it, and to build our habits and goals around it. This is what makes the human experience real. It’s what separates us. We can sacrifice now knowing the effort will help us achieve certain goals and ends.

Many people aren’t thinking about where they’re going. They’re thinking about the day-to-day. Maybe they had great goals and dreams at one point. They had educational goals and career goals, but at some point, they stagnated. The reality of the world set in, and they hunkered down and started fighting to keep what they had, rather than aspiring to more and more.

I ask you: Have you abandoned or forgotten your dreams?

I ask that of my audiences when I speak. Unfortunately, too many people tell me they are simply treading water. They’re not making an intentional effort to achieve their goals and dreams.

Are you living dreams that are worth sacrificing your life for? Are you doing great things, or are you selling out your dreams? Join us in the comments below and let us know if you ever had a period where you lost track of your dreams and were treading water. What did you do to end that cycle?

Make sure you download our free checklist to assess your business: 

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 Simon jackson.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

 

 

 

Can My Business Partner Change the Locks and Close Us Out?

Posted on: July 19th, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about documenting important information in your LLC agreement and the risk involved when it is not documented.

Hey, folks, it’s Shawn here with you answering another question that we’ve seen come up in the community. Things people are asking is, can my partner change the locks on our facility? Can they close me out of the business? Well, we need to examine what’s going on here. As always we’re going to start with the applicable state law and the agreement. So let’s start there.

If you have an entity forum, typically a lot of people are going to form an LLC is the most common or a corporation. So we’re probably going to look at that documentation. Therefore what state you’re formed under, that’s going to start providing us some initial guidance on what the company can and can’t do. The next guide is going to come from your agreement, so we’re going to look at the LLC agreement, operating agreement, company agreement, whatever you may have called it, or the corporate documents.

If you’re not an entity if you’re not an LLC or corporation we need to look at your partnership agreement, what you agreed. Hopefully, it’s in writing. A lot of times these are oral, of course, this is one of those things along the way if we stop and document these things before we have these kinds of problems we can be very clear about it.

We need to look at who’s in control of the business under these governing documents and laws. Typically, one partner may be given the authority under the agreements to own, manage and control the business. They’re giving very broad authority. They may have the authority to lock another partner out.

However, most agreements don’t seem to have this level of detail. They split the authority – they don’t have one person having clear control of usurping the other. When we start seeing those kinds of situations we then have a real problem. Because typically one partner can’t do that kind of action without involving the other partner.

So, just tossing it in the air, saying what do most documents say for most companies? Most of the time one partner can’t lock out the other. But you really got to look at your situation and what you agree. Hopefully, you did the homework, in the beginning, got everything in writing and got it put down. If you didn’t, there’s still a chance to negotiate with your partner and work it out.

These are the kind of things that could go to court. The best thing we can do obviously is try to avoid court and get to a settlement beforehand, to reach a reasonable solution in negotiation. You may want to get an attorney involved sooner than later who can help you negotiate through these problems and get to a good answer.

So if this is resonating with you, this kind of problem you might be facing, or even thinking about, check out our blog www.mcbrideattorneys.com/blog and www.mcbrideforbusiness.com/blog. We have lots of great content about this. The R. Shawn McBride public Facebook page has a lot of videos like this. And the McBride for business YouTube channel, subscribe and has more videos like this.

Share this information out to other business owners, and also reach out to me. Let me know what I can do for you. You can reach me at McBride for business, our phone number is 214-418-0258. I would love to know what I can do for you and what issues are keeping you up at night. Talk to you soon. R. Shawn McBride signing off.

Make sure you download our free checklist to assess your business.  

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 stockers 9.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

Two Lessons from Corporate America

Posted on: July 19th, 2017 by R. Shawn McBride No Comments

As many of you know, my professional background includes a decade in some of the country’s largest law firms. My experience as an associate, I believe, was very similar to life in corporate America.

Large law firms with hundreds and even thousands of lawyers across the country and around the globe have many processes and procedures, and a lot of internal governance as to how the business works. Each firm has its culture. Like corporate America, most law firms want operations done their way. And that becomes normal.

Then I left.

I started my law firm in April 2012, and over five years it evolved into my business strategy firm. It’s been a very genuine experience. But I learned a lot from my time in corporate America. And some of those lessons still apply today.

#1. Corporate America loves processes and procedures. That can be good. Many small businesses don’t have enough processes and procedures. We need more, and we need them to be flexible and realistic. We want to evolve with the market, change, and spot opportunities to serve our customers better and better. While corporate America is about very strong and stringent processes and procedures, they are often hard to change. In the independent environment of entrepreneurial America, we want to make our processes and procedures known. We want to update them to be realistic.

#2. Corporate America kills creativity. It’s often difficult to be yourself in corporate America because the processes and procedures are so strong and so overbearing. That means creativity is lost. We don’t want that. We want to make a process and procedure where creativity is encouraged, where employees are allowed to think outside the box, and where the business evolves to match the needs of the marketplace.

We want to build cultures different from those in corporate America, where creativity is often buried or discouraged. The true entrepreneurial spirit explains why small businesses can grow and even take over their corporate America cousins that are asleep at the wheel.

The last things we want to do are neglect to set up processes and procedures and tear down creative spirits. We want to make these things work correctly.

What are your observations? What have you seen different between corporate America and the America we have in entrepreneurial businesses? What would you encourage people to think about as they leave corporate America? Join us in the comments below and let us know your thoughts and experience.

Make sure you download our free checklist to assess your business.  

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 Ria Mendoza.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

 

 

 

Engaged Employees

Posted on: July 18th, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about motivating employees.

Hey, folks, it’s Shawn here with you, and I want to talk to you about a real issue. If you’re a business owner or an HR manager, you’re probably pulling your hair out, wondering “How do I deal with all these employee issues?” and “Employees are not motivated, “and they don’t feel engaged,” and if you look at the surveys, Gallup tells us that’s definitely the case, right? Only about 30-some percent of U.S. employees are actively engaged at work. Most are disengaged. Some actually want to go against their employers, so we have a real crisis point in American business, but how do we get employees engaged? How do we get them to do more? We gotta create something that’s in their self-interest. We gotta create a win-win. We’ve got to get those employees wanting to come to work, right? Does this sound like something you’re dealing with?

How do you get more and more of your employees to want to come to work, to want to do more, to do the things that need to be done in your business to really grow and to have exceptional performance? Well, this is what I’ve come up with. After many, many years of working with The Three Laws of Empowerment for High Growth Companies, motivated business owners and seeing what they do great and how they’re executing on their plans, I’ve come up with principles that can be applied within an organization to get the employees engaged, talking about their plans, their dreams, executing on the things they want to do, which is going to create opportunity for everybody. When the employee’s engaged and working a plan and they see the big picture, we have an opportunity to get them really, really motivated, and great things happen for the employer.

Now, this is not for every employer, because it’s risky. You’re telling employees to take control of their life and their dreams. You may have some employees in your organization who figure out their life and their dream is not to work for you, but you know what? Cheaper to replace them now than to have them drag on your organization for a long time, and some of your employees, in fact, many of your employees that see this message are going to become more motivated, and they’re going to want to do more, and they’re going to see how benefiting you and the organization is going to help them and their life and their dream.

We’re really creating a win-win. Everybody’s rowing the same direction, so if you’re that HR manager, that business owner, and you’re struggling, and you’re trying to figure out “How do I do more?” “How do I build my business?” The Three Laws of Empowerment for High Growth Companies is really going to be your answer. It is a way to shake up the organization. Audiences love it. The rave reviews have come in. People have said it really causes them to think differently, and I want to work with you and your organization to make people think differently, whether it’s part of your sales training seminar that you have, your annual corporate retreat, or whether it’s coaching or training with your groups and organizations, we can work out something that works for you.

Check me out at www.yourbusinessspeaker.com and www.mcbrideforbusiness.com. A lot of great materials in there, and I would love to talk to you and your organization about getting something custom that really meets your needs and that gets your organization moving forward. I’m R. Shawn McBride, and I’m looking forward to talking to you soon.

Make sure you download our free checklist to assess your business.  

 

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 George Bosela.

 

About the Author

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

 

Check us out on the web.

Get Shawn’s latest book.

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

Like us on Facebook.

 

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