If your business is sitting on a strong foundation, what’s next?
Our blogs often cover the importance of building a foundation first and then layering on what’s necessary to improve. ( http://www.mcbrideforbusiness.com/blog/built-to-last-will-your-company-stand-the-test-of-time) We often talk about the importance of having a limited liability company agreement or another legal entity in place to protect your personal assets. Once your LLC is in place, the next step is to understand common business risks. We call them the four Ds. Death. Disability. Divorce. Disagreement. If you have the four Ds under control and have plans for contingencies, what do you do next?
I believe the next step is to understand your captured power. What do you do better than anybody else? Why do people hire you? Why do they need you? These are critical questions to answer and understand so that you can strengthen and build on your core function.
After that, understand your culture. You know who you are. You know what you do well. Now you need to communicate that throughout your organization. If needed, you need to add people to scale. Make certain your team members understand the company’s goals so that everybody is working on them with consistency and vision.
What are you doing to build your business? What are you doing to manage your team? Join us in the comments below. Tell us your thoughts and experiences.
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 Ulrik De Wachter.
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 firstname.lastname@example.org or (214) 418-0258.
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