R. Shawn McBride Live

Posts for for August, 2017

What Do My Speeches Do

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

R. Shawn McBride recently spoke about what happens when he speaks.

Hey, folks, Shawn here. Sometimes people ask me what exactly happens when I speak? What am I working with on the audience? It’s always something transformational. We are making changes in people, their businesses, and their lives. My 3 Laws of Empowerment speech talks about preparing, planning and protecting. So, when I work with groups, I’m really helping them build those foundations. And, these principles are great for everybody to know. When you’re building a plan and you’re breaking it down, you want to have a preparation step, you want to know how you’re starting, what your vision is, where you’re going. And then you’re going to plan. You’re going to really get into details and really document what you’re doing and how you’re doing. And then, protection is the often-forgotten step, as you’ve done all this hard work, how do you make sure you get it? So, we want to work through this multi-stage process and that’s what you’ll see when we talk about The 3 Laws of Empowerment.

The 3 Laws of Empowerment for High-Growth Companies is a similar speech, but a very different target. It’s targeted to employees and it talks about getting employees on their life plan so that they’re growing what they want to do to make great lives that empower them and embolden them. And, when employees are working hard to do the things that they want to do, great things are going to happen for the company and the organization.

In my Negotiation Skills class, we really break down negotiation into a process, why I believe that negotiation is really just an enhanced communication. It is controlled communication and how we can use these principles to do more in negotiation.

My Game of Planning makes planning fun. We play games around a plan, and we do more to really get plans going.

Women in Business builds off my TEDx talk. It really celebrates what women can do great in business and it’s great for both men and women because we want to look at how we can cooperate more and do more as a group.

And, finally, my partnerships talk, Profits in Partnerships talks about really building successful partnerships so that the partners can enjoy great profits over the life of the business.

If these things are resonating with you, subscribe to the McBride for Business YouTube channel. We talk about other things that are all related to these planning topics. Become a subscriber, get our regular videos. The R. Shawn McBride public page on Facebook has lots of great content and videos that will help you along the way.

Of course, reach out to me directly, send me notes and emails of what you’re facing and what you’re struggling with. We’d love to hear from you and what you’re doing. McBride for Business blog and the McBride Attorneys blog both have lots of content going to the issues that you’re dealing with. And, there’s a business valuation checklist at McBride for Business. If you haven’t checked it out yet, go through it. I’m R. Shawn McBride, let me know how I can help you and yours do more with your company and your business, and I’m looking forward to talking to you again 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 Brad Harrison.

 

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.

Don’t Be The Only One Trying

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

In business, there’s a lot of effort that needs to go into this. I’m a big proponent of partnerships and collaboration. We can do more together as teams than we can do individually. It’s really just that simple, but an important part of this is you can’t be the only one trying. You need to be working as part of a team. You need to be in a group effort.

So often, I see people in business and in life working so hard to accomplish a goal, but others aren’t cooperating with them, others aren’t helping. They’re the only one trying. It becomes more difficult. In fact, in many cases, the weight of the others that aren’t trying to produce results make it even more difficult to accomplish it. Don’t be the only one trying. Make sure you look around and you have others invested in your process. And that you all understand each other and your contributions, and that you’re all working together to do more to get to where you want to go. Don’t be the only one trying.

What’s been your experience with this? Have you worked with others where you’ve been the one pulling all of the weight? How did you deal with the situation, and what’s been your experience? Join us in the comments below and let us know what you think.

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 Teak Sato. 

 

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.

 

 

 

 

Empowering Employees to Do More so You Can Do More

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

We talk a lot about empowerment. Empowering people and empowering employees. One of the key messages of The 3 Laws of Empowerment for High Growth Companies is that we can empower employees and we can do more. And empower employees that are following their dreams and doing the things they love. Not only will employees do more for themselves but they’ll do more for their employers and they’ll free you, the business owner, to do more of what you need to do to grow your business, to live your destiny.
So by empowering your employees, you’re actually empowering yourself. Let them be empowered. Let them take charge of projects. Let them do what they need to do to complete things and to feel like they’re making a difference. You in turn can then get more focused on servicing your customers, doing strategic projects, doing the various things that are going to grow your business. Empowering your employees is really empowering yourself and allowing you to do more.
What’s been your experience? Have you had a good experience empowering your employees? How has it helped you to grow your business? Join us in the comments below.

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 Weblux.

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.

WINNS

Posted on: August 23rd, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about making plans.

Hey folks, Shawn here with you, talking to you about planning and not just making plans but making them even better. Hopefully, you saw my earlier video on the dreams process, the way to build a plan. If you didn’t see that earlier video, go check it out after this video.

Now we’re going to talk about how you take a plan that’s quality and how we make it even better – how do we build it to the next level. I’ve worked for many years, I’ve built two businesses, both my law firm and my business strategy firm, taken both of them to the next level, and I’ve also helped countless other business owners build their businesses. And I want to convey the processes and the things that I’m seeing that are creating success for you so you too can be successful.

So hopefully you’ve built a plan, you know where you want to go, but how do you make that plan really good, how do you take it up a notch to make sure it’s excellent and really, really a great plan? Well, this is where we’re going to work through a system that’s going to make it even better.

# 1 We’re going to write that plan down. You need to get that plan in writing. This is going to force you to think through a lot of issues, work out a lot of detail, if you have a business partner it’s going to force you and your business partner to have a discussion and really think about what the broader metrics look like and how the business is really going to work.

# 2 You’re going to involve others. You want to find somebody who you trust, who understands the business that can help you work through your plan. It doesn’t have to be an industry expert, just somebody that’s knowledgeable, have a good set of head on their shoulders, and they really understand what’s going on. Talk to that person.

# 3 After you do that, now you’ve got new ideas. You’re going to ask him a lot of questions. Don’t just ask him, do you like my plan? Ask him, what do you like about my plan? What’s good, what’s bad, what would you do differently? What weak spots do you see? You really want to learn from this. Once you’ve got those three steps done the next thing is you want to come up with a new version of your plan. You’re going to revise your plan based on the feedback you receive through steps one through three.

And then the S on the wins system is you’re going to start fresh occasionally. Every once in a while you need to just start the whole planning process over again with a new written plan based on where you are and keep working through it. The five step process is going to allow you to make a great plan and take that plan that you have that you put together earlier that was a good workable plan and make it even better – make it really great.

Are you working on something involving really great plans? Give me a buzz, let me know what you’re working on, let me help you and your organization. Check me out at www.mcbrideforbusiness.com. If you just want tips on business and ideas, go to the R. Shawn McBride fans and audiences page on Facebook and check out McBride for Business on YouTube. And let me know how I can help you do even more. Maybe I can come speak to your group or help you take things to the next level. Whatever we can do to help you do things better, that’s what I’m here for. I’m R. Shawn McBride, I’ll be talking to you soon. Make sure you get your free business evaluation checklist and I will talk with you very soon.

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

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.

Start with the Right Team: Get a Great Accountant Early

Posted on: August 23rd, 2017 by R. Shawn McBride No Comments

One of the keys to business success is having the right team. We talk a lot about teams in our previous blogs and when I speak about The Three Laws of Empowerment. One of the critical members of your team is going to be your accountant. You want to get one early in the process.

The accountant can take an overall view of the finances of your business. They can help you understand the flow of money in and out of your business. They can help you understand your profitability and your projections. They can also work with you on a tax front. A great accountant is going to understand you and your portfolio, other investments you have, and how everything inner plays to make sure that you have the right tax treatment of your business top to bottom.You will want to engage an accountant that has expertise in business, that’s been there before and that understands you and your business. Some accountants split themselves between being financial experts, bookkeeping, record keeping and financial analysis versus tax planning and tax analysis, and you’ll want to understand which type of accountant you’re working with. You want to make sure you get the right fit for your particular need. In some cases, you may want to get two accountants. This is one of the most valuable members of your team and you want to bring them in as early as possible because they may have value added ideas on how to structure things differently.

What’s been your experience? Have you worked with accountants in the past? What value have they added to your team? Join us in the comments below. We’d enjoy hearing your thoughts.

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.  This article should not be treated as legal advice to any person or entity. Freeimages.com/photographer Darren Shaw.

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 Can Go Wrong in Coaching

Posted on: August 22nd, 2017 by R. Shawn McBride No Comments

R. Shawn McBride recently spoke about the importance of hiring a good coach.

Hey, folks, it’s Shawn here. I want to have a very honest and candid talk with you today. You know, I do coaching, and I’m an attorney, which kind of puts me in a quasi-coach position. I’ve been in that for a long time, because we’re working with clients, executing their plans, talking about negotiation strategies, and talking about realistic outcomes. So we are doing kind of a coaching thing there. So I’ve been in the coaching world a long time. First in one role, now more as a general business coach, helping people really achieve their dreams. And I want to talk very openly about what can go wrong with coaching, all right?

I know a lot of people have concerns about getting a coach because first, it seems kind of loosey-goosey. How do you measure a coach? How do you know if you’re getting a good job of coaching? How do you know somebody’s not going to just take your money and run, and not help you do more? You know, you’ve really got to look at the person, the individual in your situation. These are things that can go wrong in the coaching. You can also have bad rapport with your coach. You really don’t get things stepped-up. Or maybe there’s just a mismatch of your coach’s visions and dreams for you versus yours.

So a lot of this is fundamental foundations. You want to work with an experienced coach, somebody who’s been coaching for some period of time, that has been through this, that has a reputation, that has people saying great things because you want to know them, and you want to make sure your money’s well-invested. Not just your money, your time. Coaching is a very personal thing, and it’s going to involve a lot of time and energy, but I will tell you, it will unlock tremendous value because they’ll see things that you don’t see, and you’ll be able to do more. So you want to get the coach. Don’t shy away because you’re scared. But understand some of these things that we’ve talked about today, things that can go wrong. Think about them. Use them to interview your coach. Have that conversation. Does your coach understand you? Do they know where you want to go? Do you have good conversations? Do you have similar visions of your capabilities and outcomes? If you’ve got checks on yes on most of those, you’ve probably got a good coach. You’ve probably got somebody you’re well-aligned with, and that’s a great start to the relationship.

If this is resonating with you, check out the McBride for Business blog, a lot of great information there. www.mcbrideforbusiness.com/blog www.mcbrideattorneys.com also has a more legal-oriented blog. McBride for Business YouTube channel has videos on these types of topics, along with the R. Shawn McBride Public page. Like them both. Get the videos. Get the information.

Let me know how I can help you. And make sure you get the Business Evaluation Checklist at McBride for Business. We have some great information there on how to up the value of your business. And if I can help you, just reach out. Send me a note. I want to know what you’re dealing with. I want to know what’s going on in your business. I want to know how we can step things up to a higher level, and I would love to provide some content for you on video here for free, or work with you one-on-one, or come out and do some coaching or keynotes. So let me know what you need, and let’s see what we can tailor for you. 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 Ivan Soares-Ferrer.

 

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.

50 State Tour Recap: Redlee/SCS Service Company

Posted on: August 22nd, 2017 by R. Shawn McBride No Comments

You know, once in a while you talk to somebody who really thinks differently. Chuck Redfearn and the history him and his father set for Redlee/SCS Company should be a lesson for all of us. Chuck, an entrepreneur, has built a successful company in Dallas, Texas.  He’s also built his family and his business, together. What was very interesting when I got to know Redlee and their company and their history, is how much family and the business were interwoven and very intentionally. This company was built to be an intergenerational company. Chuck has a clear vision that this company will continue through his children to his grandchildren and things are being built that way. But it’s not just about building a sleepy business and passing it onto the children. Redlee is all about growth, the future, improvement, and enhancement. All the things we would expect in a company that somebody was positioning for a sale, but with a very family serviced and family oriented environment.

It’s an amazing combination. No pressure to sell to the outside, but a desire to stabilize and grow the business so that it will truly stand the test of time. Plans are in place to transition the ownership from generation number two, with Chuck, to generation number three where Christi Redfearn will run the company. There’s time for play too. Chuck recounted the days when he used to work around the clock and worked very hard to keep the business going. Now, moving into today he has more time for his family where he gets a little bit of time in the morning before he starts work, and through the evenings where he has a protected period of time after he leaves the office until his employees are able to reach him again. He’s truly developed a work life and a family business/non-business balance.

Now it’s not without challenges. There are certainly risks and difficulties in trying to have your family integrating your business. For this business, they found a unique way of keeping all of the pieces together. There are many lessons for all of us in the interview, which you can listen to on the McBride for Business live podcast, (being one of the 50 state tour interviews). Chuck taught us several things.

#1 You have to have a vision for the future. Redlee knew from the beginning what they wanted. They wanted to be a family company and they wanted to grow. While their vision has surely been revised over their 35-year history, it is held to as part of their decision making and process.

#2 You have to have a unique selling proposition. Redlee is in the janitorial services business. Many people would view it to be a very sleepy and boring business, but Chuck has made the company different in that they focused on service. They knew that service would be key and they built systems, processes, customer service, and follow-up in ways that other companies in the industry haven’t. This service gives them their unique selling advantage and allows them to be recognized by others as being a leader and gives the customers a reason to come to them. There’s clearly a choice to be made when you’re picking a janitorial service. Rather than competing on the lowest price, like so many others are, they compete on the quality and the headache-free service they provide their customers. The customers that want it, understand the value and they work with them.

#3 You have to think differently. Redlee’s thinking about family, holding the business together, and growing over generations. This is a rare combination. We do find many businesses that want to stay within the family, and we do find businesses that want to grow. We find very few businesses that are working so hard to be intentional about growth, but also be intentional about the family’s development and maintenance of the business. Redlee knows full well that many family businesses fail in the third generation, and they don’t want that to happen to them, so they’re very intentional about their decision making, how they’re allocating their time, and what they’re doing with the business. All in all what we see here is a very, very successful business involving multiple family members, including three generations at this point. The original founder is on the board of directors, son Chuck is running the business, and daughter Christi is very integrated into the business and working to assume the CEO role.

There are many lessons in this podcast about what’s right in American business. I think you’ll enjoy listening to my interview with Chuck. It was certainly a very enjoyable time to sit down with him and relax and listen to the evolution of his company and their current challenges and their positioning for the future. If you’re looking for janitorial services, I highly recommend you reach out to them and see if there might be a fit. They do have a real concern for quality and for making the customer happy.

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 elemntz11.

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.

 

 

 

 

Solar Eclipse 2017

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

Today’s the day, solar eclipse day. Thousands, perhaps millions of people will be stepping outside of their homes and viewing something that’s rarely seen, a total eclipse visible in the United States. These events don’t happen very often. In fact, it may be a lifetime before another eclipse goes from coast to coast of the United States and is visible from so many locations. And many people will be partaking.

But I will not. “Why,” you say. “Why would you not want to see this phenomenon?” Because I’m not prepared. You see, viewing the sun directly is very dangerous. You need to have the right equipment. With advances, a lot of people are getting glasses for viewing the eclipse, and I, too, looked for glasses to view the eclipse. However, by the time I started looking, they were all sold out.

And this is an important lesson. You see, I didn’t have the solar eclipse on my radar soon enough. I didn’t think in advance. I waited until a mere few days prior, only to be disappointed and learn that all the glasses were sold out. Because I didn’t prepare, I will not take advantage of this opportunity.

And this is true for our businesses, too. Many of us don’t prepare enough. We are not ready for the opportunities that might come our way. And because of it, we lose out. How many times is an opportunity coming down the pipeline, but we don’t think far enough in advance? We don’t stop and think what we want our future to look like? We don’t plan to do the things we need to do to execute those opportunities? Opportunity after opportunity after opportunity may be passing us by.

And we need to learn this lesson. We need to look to the future, know what we want, and start taking steps to get there. Otherwise, this process is going to keep repeating itself over and over again. We’re going to miss out on opportunities, and we’re going to lose out on what we do.

So prepare yourself. Plan, and protect. Those are the core messages of my Three Laws of Empowerment speech, and here, they’re driven home today.

Check out our other blogs, and I hope you enjoy the eclipse.

 

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 Mario Alberto Magallanes Trejo.

 

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.

 

 

 

 

Preparing for Partners’ Disagreements in Business

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

R. Shawn McBride spoke with Kevin Wright about preparing for partners’ disagreements in business.

Kevin: Shawn, what about one of the real dilemmas for a startup company.

R. Shawn McBride: Yeah.

Kevin: Is that an owner, whether brother, sister, or family says, “Wow, we’ve got this great idea, and maybe we’ve actually got a customer that’s ready to buy.” Then you get to reality. There’s the professional services’ expertise that you need. There is your insurance broker; there’s an attorney, there’s an accountant, there’s marketing personnel. These are all big dollars. Making poor decisions on any one of those choices could have a significant impact. What advice would you give this entrepreneur? In terms of “How do I allocate the few resources I have, between the professional staff that I need?”

R. Shawn McBride: This is a hard issue, and it’s a timeless issue. Part of this is the struggle of building a business. How do you get it? I don’t think that any business that’s going through the books, they’ve done the trundle of resources at some point. How do you do everything that you need to do? Whether it’s high in resources or rent, by the client. I mentioned this a couple of years ago when you worked around the clock in the business. We didn’t have everything that we needed. We had to work 60-70 hours a week too. You meet on some emergency basis. Usually, they had iPhone coverage. That 11 o’clock at night, you get an order out. It became bigger over time.

A lot of times in these service business, too. You’ve got to build a brand. My personal side is that I’ve built a speaking side of that. There’s a lot of infrastructures you get before you start getting to the bigger stages. There are costs there. For me, I feel to develop my own business. I’ve got my attorney and legal services, which allows me to build this business. You may want to look at that. I’ve seen you Google that, I don’t know what everybody’s situation is. I’ve seen husband and wife teams do it. One of them is working, bringing in a regular steady income and getting the health care insurance and the other one’s building this machine over here.

It’s just realistic. While we can do everything we want to do, sometimes we do that to build infrastructure, and infrastructure costs money. Whether it’s tangible infrastructure or intangible infrastructure. It’s about having that solid business plan. Part of this might be for the right professional service person or service-oriented business. It is strategic alignment. Align with somebody bigger who has the money, to see the vision and takes part ownership of it. I have a business friend who got investors in their business. They had a vision; they knew where they were going, but they had to build all this infrastructure. They sold a part of the future. Financials to the real world. They sold part of the future, but then they got part of the money they need to build the machine that they needed to build. It worked for their situation. Other questions?

Kevin: My father was in business. They could have heeded your warning very well because it was a partnership that dissolved. It was started around an architect and an engineer. It was a startup. The whole idea was that it would be a licensable product. They had a very good idea about when they founded it. People were wanting to buy a license, what that would do to the value and their partnership. What they didn’t plan on was when they couldn’t find enough people who want to license it. They need to start selling to end users for a while. They did that for a while, and then when they did find people who wanted to get licenses and invest in the business, they had completely different ideas of what the business was worth at that point. They got into a major disagreement which ended up folding up the business.

R. Shawn McBride: Again, disagreement. We don’t know when it’s coming. Here we have a situation where the business had business model A, had to evolve to business model B. By the time it came back and was mature enough to go back to business model A, the partners disagreed about business model A.

Kevin: Correct.

R. Shawn McBride: These kinds of things, happen. They got to tell people, “We don’t know where the disagreement is coming.” I have a very unique set of clients come to my office, that talks about disagreement. They always tell me “I’ll never disagree with my business partner. We get along great.”

Kevin: I’ve got to disagree with you on this whole disagreement thing.

R. Shawn McBride: Then they show up in my office three years later. They’re like “You know, we didn’t think we would disagree, but now we do disagree.” I’m like “A little too late now.” As an attorney, I have ethics rules which require that I represent everybody. I can’t pick somebody that I like better and start representing them. I’m kind of shielded out of a lot of those. If you call me again, three years later, and say “Well you told us we would disagree, and we told you we wouldn’t disagree. Now we are disagreeing.” It unfortunately happens. I tell people to be realistic. You don’t know where the disagreement’s coming from.

Sometimes it’s a value shift. There are two partners that approach for their lives. Their values shifted quickly because of family pressures. It could be something because of their parents or children. A lot of times there’s a family thing that causes people to change their outlook on business and the future. The best we can do is be realistic, that knowing that not every partnership’s going to last forever. You can build systems to make sure that wealth and values are maintained.

Kevin: Do you disagree with part of your business is one of the things that leads to the downfall of those businesses?

R. Shawn McBride: It’s incredibly common, yes. I don’t have good statistic rates for the failure of business.

Kevin: I’m just saying from what you’ve experienced. With you there, it’s not coming through that you lead a business. You have a plan for it to be bought later on. It comes down to you’ve got people. Suddenly, everyone goes “I hate your guts today,” type of thing.

R. Shawn McBride: People swear away business partnerships. I can find accounts with people that have been burned in business partnerships. I don’t say no to them; I don’t think they’re bad. I think you just have to realize that partnership may not last forever. Capture that economic value. There are reasons why people go into partnership. They’re good at different things, they have different skillsets, and they can enhance each other. I’m all for it. Go for it. Capture that economic value. You have to be realistic about that. I did read an article about it. I was going to say, I don’t have extensive statistics, and I don’t know how they came up with their statistics. They say about 80% of business partnerships ended up failing at this frame rate. 50% of marriages fail, 80% of business partnerships fail.

I wouldn’t be surprised by that number. I think so. Marriage, you’re mating for life. You’re generally not making that statement with a partnership. You’re not going to be with your partner for life. You’re being a partner for that business. It’s not the same long-term commitment. It doesn’t have the same social meaning to it. I think partnership failure is much more common than marriage.

Kevin: A lot of something that the people made. How would you define the failure of a business? How do they measure it?

R. Shawn McBride: I don’t know how to measure that. For me, I’d define failure as working at building something and finding the economic value of it. I don’t care if the partnership persists for five or ten years. Does my client, or the person involved in the partnership, get the economic value? That’s success, in my opinion. You get paid for what you did. That’s awesome.

Kevin: We’re going to let him sit down here. You can still enjoy it and talk. We can still talk about it as a group if we want, or talk about yourself. I want everybody to thank Shawn and give him a big round of applause.

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 Daniela Como.

 

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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I Want to Give Away All That I Can

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

R. Shawn McBride recently spoke about giving information to help you succeed.

Hi, folks, it’s Shawn. We’re going to talk philosophy today. And I want to talk about part of my business philosophy with these videos and these online communities. I want to give away all I can. I’ve had people come to my speeches in the past and they’re like, “Man, you’re giving away the store. You’re not holding anything back.” I want to enable everybody to do as much as they can on their own. You know, I make my living as an attorney and as a business strategist. And I work with people on making their plans and executing their plans. But what’s interesting is, the fact that we can get into higher-level issues the more educated the audience is. So, you know, I’m here trying to give away the store.

I really want everybody to be able to do the basics of legal planning on their own. The basics of business planning on their own. I really want people to say, I’ve gotten very far, how can you help me, Shawn? I don’t want to be brought in to do routine stuff. It’s not the best use of my time. And it’s not the best use of your money. We want to be doing the high-level things. The big thinking, the planning, the execution. That’s where the power is. And that’s where I can add the most value.

So if you’re watching my video and you’re a member of this community, thank you for being here. Thank you for being part of it. Help spread the message. Contribute. Send questions in. I really want to give away everything I can in this format. You know, I have no interest in trying to hold back. I’m not trying to sell programs on basics. I really want high-level thinking and high-level stuff. Now there’s stuff that once we get a foundation developed, that years and years of experience can help me deliver. You know some of the keynote speeches, some of the training I do, that one-on-one coaching and obviously the legal projects and other stuff years of experience come together and I know nuances and things that are just hard to transfer in this format. But I will tell you, anything that I can transfer to people via video or blog or other things, the basics, I’m putting it out there for the world.

My book Business Blunders, very inexpensive, pick up a copy. Ten mistakes we saw over and over again. Fix those problems before they become problems. Start moving businesses forward. So I really want to give away the store. That’s my philosophy and I hope we have other like-minded individuals out there. Not holding back, giving out, helping others.

And how can I help you? How can we let you do more? Let me know. What issues are you facing? I want to know what’s going on out there in the community so I can deliver the content. So I can help you get there. And if there’s something that’s more specific, custom one-on-one-type thing, I would love to work with you on that. Check out the McBride for Business blog and the McBride Attorneys blog. Both are going to help you get there. Both are going to give you more great information for behind the scenes with your business.

Subscribe to McBride for Business YouTube channel and the R. Shawn McBride public page on Facebook. Both of them have great information which I’m trying to deliver to as many people as possible. Share the links. Let people know. Get people over to McBride For Business to get their business valuation worksheet, to maximize their value. And if I can help you in some way, let me know. If it’s just an informal question, let me know and I’ll try to do a video on it. And if it’s something more formal, some custom one-on-one, let’s talk. Let’s figure out what we can work out. Find me at McBride for Business or send me a call at 214-418-0258. We’ll be chatting. Looking forward to working with you. Reach out to me, I will talk with you all very soon. R. Shawn McBride signing off, folks.

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 Kent Squires.

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.