MCBRIDE FOR BUSINESS BLOG

McBride for Business Blog

Have you checked the fundamentals of your agreements?

April 10, 2018 // R. Shawn McBride // No Comments »

Those of you that have been following me for a while know about the 4 D’s.

The 4 D’s are critical to planning.

As great a they are I sometimes forget about their magical power to make sure we are covering all of the fundamentals in one simple way.

So I think it’s time we revisit the 4 D’s.

Just like I did recently.

See, I walked into a coffee shop for a meeting and one of my audience members saw me…and recanted how they are using the 4 D’s right now to negotiate a complex partnership.

Which reminded me we all need to be reminded of the power in the simplicity of the 4 D’s.

Even when I an doing more comprehensive work – like my Doing Business in the US Course or my Take Your Business in the Fastlane Course – where the 4 D’s are but one component of the whole the 4 D’s are powerful.

So here they are again.  Use them in all planning of relationships:

Death – What happens to this company or relationship if someone dies. Go ahead and write the story out and make your documents match that.

Divorce – What happens if someone central to the plan gets divorced? Does there soon to be ex-spouse become part owner of the company/project?  Think through this.

Disability – What if someone is unable to work?  How does the project and its economics proceed.

Disagreement – What if the parties to the project disagree on the direction of the project in the future?

The 4 D’s are very easy to list out. But they are super powerful.

Just working through the 4 D’s will stress test any relationship and just by working through them you’ll be better off than most.

Have you used the 4 D’s?  What did they do for you?

Posted In: Business



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