BLOG | FAMILY DYNAMICS / GOVERNANCE
In 1978 the 2-circle illustration of family business evolved when Harvard business professor Renato Tagiuri and then-graduate student John Davis added a third circle – Ownership – to better account for the distinct groups that existed in a family business. With the addition of Ownership, the 3-circle model more accurately captured the seven facets of ownership.
Read PostBLOG | LEADERSHIP
When I first started Compass Point 20 years ago, leadership was an ancillary topic. My work focused on the systems, financials, hiring the right people, and being a confidant to the owner. At the time I didn’t see it as leadership coaching, but rather as building a relationship with a client who trusted me enough to let me see the inner workings of their mind and business. I helped the person as I helped the business. Times – and leadership – have changed.
Read PostBLOG | LEADERSHIP
Product. Team. Customers. Processes. Sales. Revenue. Profit. Cash. These are the elements to any good, viable business. But a family business needs more than just those elements to build a sustainable family business. With many dynamics at play, the business owner needs to understand which "hat" to wear, when to wear it, and when to switch. Do you know how to manage it all?
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
Running a family business is a lot like any other business. There are sales goals to meet, market trends to monitor, supply chains to navigate, stakeholders’ expectations to manage and people to hire, fire and develop. Pretty much the same… UNTIL you add FAMILY. And then, there are family dynamics to consider as you chart your business's course and build a strong family business.
Read PostBLOG | LEADERSHIP
Why do great family businesses improve despite dealing with the same crappy external factors that destroy some businesses and stall others? Because they practice and execute these tenets...
Read PostBLOG | EXECUTION
One of the biggest barriers to family business growth is the lack of a written strategic plan. Why written? Because research shows when you write down your goals, you are 42% more likely to achieve the desired results. Who doesn’t want those odds on their side?
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
Family business leaders face tremendous stress as they deal with all the challenges of business, and also the inherent intertwining of business, family, and ownership. It can get messy. Family dynamics bubble over with varied perspectives, generational differences, and tenuous relationships. It’s hard to be united when there seems to be a steady flow of drama, conflict, and disharmony.
Read PostBLOG | STRATEGY
Do you have your plan for first quarter 2023? Is it written down for the team to see, understand and act upon? Or is it still tucked away in your head, and shared as needed?
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
Words matter. Because we become what we think about. And words are an outcome of our thoughts, consciously or subconsciously...
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
Life is full of inconveniences. Life can be full of problems, too. There is a difference. A striking difference...
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
These last two years of the pandemic have not been easy on the human psyche. For many, our physical health...
Read PostBLOG | STRATEGY
There seems to be a false notion floating around – and we all buy into – that somehow we're going to get everything in order tomorrow...
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