In my experience as a corporate lawyer and business strategist, I’ve come across some fundamental principles that can be used to analyze a lot of business growth situations to determine which business will be successful and which will struggle. What it comes down to is what we call “the 3 Laws of Empowerment.” From our work with our clients that are achieving their potential and their eventual success, we’ve come up with three fundamental principles, which, when used to analyze and applied to various situations, can result in better outcomes.
The three laws are:
(1) the Law of Preparation: the business owner or the person looking to grow their business needs to start by knowing that we are living in a world of possibilities, that growth is possible, and that they can move to another level. They need to pick and choose as well as to develop skills which are critical to the path which they wish to live in the future.
(2) the Law of Planning: when we look at where the person wants to be and what they want to achieve, we want to make sure that we’re implementing plans that really work, that move the person to where they need to be. This is both building on the Law of Preparation (the things that they’ve started and the skills they’ve built), but actually moving towards goals in a very intentional manner. Not just moving towards their goals in a rigid way, but also anticipating the fact that plans don’t always go exactly the way they are initially drawn, so we need to have contingencies and different paths to get to the desired outcome.
(3) the Law of Protection: making sure you get what’s fair and right. It’s great to have a lot of effort to prepare yourself, build skills and then to execute on a plan but we need to make sure things are protected to make sure that after the plan is executed, the person who did all the hard work gets what’s fair and just for their efforts. Legal cases are filled with times where people have done hard work, done the right thing, and not got the correct outcome, so we want to look at protection, negotiation and making sure the person that’s doing the hard work gets the desired outcome.
The 3 Laws of Empowerment are very fundamental. And they’re critical to making sure that a person or business achieves the growth that’s possible. In future articles, we’ll look deeper at each of the three laws.
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.
About the Author
R. Shawn McBride — R. Shawn McBride is the Managing Member of The R. Shawn McBride Law Firm, PLLC. Shawn works successful, private business owners in their growth and missions to make a company that stands the test of time. You can reach R. Shawn McBride at [email protected] or 407-517-0064.
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