For Tom's posts via email, click here.

Blog

According to the 2016 Exit Planning Institute survey of middle market business owners: • 63% of private businesses are owned by Baby Boomers • 80-90% of their wealth is tied up in their business • 76% of these owners plan to transition out within 10 years and have no exit plan • 70-78% of all businesses put on the market do NOT sell   Many business owners want to transfer their business to a... Read the Full Story
Posted by Tom Garrity on May 4, 2016
Empathy is a component of emotional intelligence that is critical to leadership.  Empathy builds strong teams and ultimately gets results. Empathy is the ability to step into the shoes of another person, aiming to understand their feelings and perspectives, and to use that understanding to guide your actions. That makes it different from kindness or pity. The big buzz about empathy stems from a... Read the Full Story
Posted by Tom Garrity on April 19, 2016
Everyone in business wants to grow.  But that doesn’t mean they will grow, because wanting is not doing.  And by the way, if you are not growing, you are declining.  There is no remaining the same.  Life just doesn’t work that way. Verne Harnish, author of Mastering the Rockefeller Habits and Scaling Up, discovered the very essence of success.  This essence was further defined in Jeff Olson’s The... Read the Full Story
Posted by Tom Garrity on March 8, 2016
Most business owners who are asked about their exit plans will reply that they want to exit their business ‘in about 5 years’. In reality, this 5-year window is a subconscious resistance to beginning the process of planning for an exit. This is a true statement evidenced by the fact that the same owner will – almost always – give the same ‘5-year answer’ when you ask them about their plans for an... Read the Full Story
Posted by Tom Garrity on March 1, 2016
Why don’t more employees do what they are supposed to do?  Author and consultant William Schiemann might have part of the answer—only 14% of the organizations he polled report that their employees have a good understanding of their company’s strategy and direction. For leaders looking to close the alignment gap in their organizations, here are three key steps: Develop a clear, concise, agreed-... Read the Full Story
Posted by Tom Garrity on February 17, 2016
When the stakes are high and strength of the family is needed most, family businesses need to have some processes in place to build that strength before it is needed.   Here are some suggestions for family leaders who want to strengthen family connectedness. Conduct family meetings. Working collectively toward a shared goal “builds the muscles” that help a family stay focused on the big... Read the Full Story
Posted by Tom Garrity on February 3, 2016

Pages