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Posts for for January, 2018

When Your Advisors Disagree

Posted on: January 3rd, 2018 by R. Shawn McBride No Comments

What should you do? You are caught in the crossfire. Your advisors cannot agree, and you are the one taking the heat. More than one of my clients has had a problem when they find their professional advisors disagree on the course of action. All too often, the client is the one who ends up paying the price.

How do you prevent this from happening? How do you make more effective professional advisor relationships? Know that it is not uncommon for professional advisors to disagree. After all, each has different points of view and different perspectives.

Your paid professionals are naturally going to have different viewpoints because of their own different experiences. Start by understanding that disagreement is not that surprising. But, the disagreement should not become disabling for the company, and it should not stress the management team.

One of the key things to do is to pull down silos. Get everybody focused on the goal. We talk in The 3 Laws of Empowerment, about building teams who will get to the goals you set.

A strong mission and value statement will help your professional advisors understand what the goals and objectives are. A controlled culture will have everybody pointing in the right direction. Start with that understanding and that mission to cause alignment, to cause those advisors to have the same end in mind. Set silos, and make sure that nobody feels like they have to fight for turf.

While everybody’s opinions should be valued, let’s end the turf wars and personality conflicts before they start by making it clear that the management team is in control, and the professional advisors are there to advise. If these conflicts happen repeatedly, it is unacceptable. Think about getting new professional advisors who are more aligned, and who will work harmoniously with one another.

What has been your experience? Have you been caught in the crossfire with your professional advisors? How did you resolve the situation? Join us in the comments below and let us know.

 

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 Andy Stafiniak.

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.

Using The 3 Laws of Empowerment for Your Decision-Making

Posted on: January 2nd, 2018 by R. Shawn McBride No Comments

As you know, I speak frequently about The 3 Laws of Empowerment. But, they are more than just a speaking topic. They are more than the way of giving a speech, they are an actual management framework that can be used in the decision-making process.

Recently while discussing a project with several senior consultants, one of them said, “We should analyze our current situation, and where we are going, in light of The 3 Laws of Empowerment.”

It is a useful tool. The 3 Laws of Empowerment allow you to look at where you are, where you are going, and how you will need to be when you get there. It is a simple way of analyzing the situation and understanding what is happening without bringing in a lot of complex or meaningless discussion. You prepare, you plan, and then you protect what you built to make sure everything is fair and right. You build and use the plan that is going to change your life, and your business, forever.

What has been your experience with using The 3 Laws of Empowerment? Have you been able to put this valuable tool to use in your business? Did it help give you clarity? 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 keigirl. 

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.

Is a Board of Directors Right for Your Company?

Posted on: January 2nd, 2018 by R. Shawn McBride No Comments

If you have been a reader of our blog, you know we suggest that sometimes people should use a Board of Directors in an emerging company. It can be a good way to get outside influence and to diversify the management and control of your business. It can allow the business to grow.

Questions we frequently get from emerging companies are “How should my Board work? How does it happen? Do we have to have strict quarterly meetings?” The answer depends on you, and your business culture. You have choices. You can be strict, and run your Board of Directors formally, or you can be informal and use it as a periodic sounding board.

The best results I have seen are with Boards that are well-informed. This means getting the information to the board members so that they can read and review it. This might require a monthly conference call, or a quarterly in-person meeting, or some combination thereof.

A functioning Board of Directors needs to have an ongoing conversation, multiple parties involved, with different viewpoints from people who are familiar with the company’s needs and objectives. There are many options as far as frequency, level of detail, and formality. The particular way it is done does not really matter. You can do what is right for your company.

Compensation for the Board of Directors is also up to the company. Some companies have volunteers on their Board, members who want to help the company grow. Of course, some companies pay their Board members for their service. A good deal of commitment is required from members because they are giving up their time and energy to help the company. Make sure that they are seeing it as a fair value for their time. This might be monetary or some other benefit.

Have you been hesitant in implementing a Board of Directors? What is keeping you from bringing this valuable tool into your business? Have you had good or bad experience with a Board? What might you do differently in the future? Join us in the comments below, and let us know.

 

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  Gideon Geldenhuys. 

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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