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LLCs are the Dictatorships of Business

April 6, 2017 // R. Shawn McBride // No Comments »

R. Shawn McBride recently spoke about the freedom of LLC and compares them to a Dictatorship. Here is the full transcript:

https://www.facebook.com/rshawnmcbridepublic/videos/1459714544060447/

Hey there everybody. R. Shawn McBride here with you live sharing this video. Yesterday I talked about why corporations are like democracies and we drew a lot of parallels between the two. Today I want to talk about why LLCs are like dictatorships.

Corporations have a lot of checks and balances. Shareholders, boards of directors, voting, people looking different directions. LLCs don’t necessarily have to have this. The beauty of the LLC is generally you have freedom of contract. You can set up whatever you like, however you like. It is your flavor, your style, your build. If you want an LLC where you are the owner and you get to make all of the decisions and you don’t have to talk to anybody, you can do that. And it can be run like that and you can make your company operate that way. And many of the LLCs we structure, at least initially, are that way.

You can also blend in a lot of other controls. You can blend in other people. You can have alternate management structures. You can have some people who make decisions for some classes of things, other people for other classes. But it is your business. You get to make the decisions the way you like and you get to run it your way. So, it’s beautiful. It is your business.

The LLC, can be a lot like a dictatorship. You don’t have to answer to other people and you get control. It’s a great mechanism.

What issues are you dealing with? What problems do you have out there? I would love to hear from you and what you’re dealing with. Join me here, send me questions, send me comments. Let me know what you’re dealing with so I can get you future content.

If you haven’t, like this page. Like the R. Shawn McBride fan page or our YouTube channel. Tune in for more of these videos and check out our blog, www.mcbrideforbusiness.com/blog. Join us over there. Tell your friends. Let’s get this community built up here. I want to know what you’re dealing with and what you’re working with. I would like to come speak to an event for you. If you have a group or an organization, a national or regional conference involving business owners or teams that need to be motivated to execute their plans, give me a shout. I would love to come talk to you more of what you’re doing. Shawn McBride signing off.  See you again soon.

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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 Bas van de wiel.

 

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.

 

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