MCBRIDE FOR BUSINESS BLOG

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Plans: Three Key Things to Maximize the Power

January 2, 2017 // R. Shawn McBride // No Comments »

By spending our time building business plans, we encourage most of our clients and our business contacts to put together strong business plans with ‘what if’ scenarios, and other techniques, to make sure that the plans really work and that they’re strong. We talk about that when I speak about my 3 Laws of Empowerment, www.rshawnmcbridelive.com, where I mention and encourage people to plan. One of the three key laws are that you do have plans. What are you going to do with these plans? How do you really leverage these plans?

#1 You need to communicate them to your team. However your team is structured, your team needs to understand what the plan is. They need to be able to engage in the plan. They need to be able to help support the plan. Importantly, your team members need to understand the plan so that they can decide if they want to be part of the plan or not be part of the plan. It’s okay to have team members leave if they don’t have the same vision as the rest of the company. This will create less friction and better career and life outcomes for all parties involved.

#2 You need to have other people in your plan. It’s great if you can get other business people and advisors into your plan. Make sure they understand what’s going on. Make sure they know where you’re going. This could be your strategic team. Involving other business people in your community could mean more business opportunities. They may be able to do things to support your plan. They may also be able to refine your plan and help you make your plan even stronger. Without giving up your trade secrets or highly sensitive information, you do want to get as much input into your business as you can. Different perspectives from experienced people can do great things for you and make your business plan so much stronger.

#3 Revisit your business plan. Too many people make business plans and then put them on the shelf. You may be facing a struggle. Your business plan may give you the answer of which direction to go, so you can pull that off the shelf immediately, and start moving forward without hesitation. Another advantage to having a great business plan already done is, you can refine it. You can go back and revisit it, and tweak it, and learn how your company’s evolving and growing. This will make you stronger, and stronger, and stronger. It’s important that we go back to our business plans, and we can really leverage them for what they’re worth.

How are your business plans looking? What have you done with your business plans so far? What are you doing to make your business plans better and better? How are you making them really work for you? Let us know in the comments below, we’d love to hear from you.

 

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

About the Author

Shawn McBride is the Chief Innovation Officer at McBride For Business, LLC. His signature keynote, The 3 Laws of Empowerment (www.rshawnmcbridelive.com), 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.

 

Check us out on the web at www.mcbrideforbusiness.com , www.rshawnmcbridelive.com

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