Tom Garrity

BLOG | FAMILY DYNAMICS / GOVERNANCE

Finding Happiness. Stop Looking Out There.

These last two years of the pandemic have not been easy on the human psyche. For many, our physical health...

BLOG | STRATEGY

Life mimics business. Business mimics life.

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...

BLOG | FAMILY DYNAMICS / GOVERNANCE

The Game of Risk – Tolerance vs Time

BLOG | FAMILY DYNAMICS / GOVERNANCE

Fair does not ‘equal’ equal

This is one of the biggest problems in family business governance, where parents...

BLOG | FAMILY DYNAMICS / GOVERNANCE

The Cousin Federation

It’s a common phenomenon around the world. Family businesses rise like a phoenix from the ashes, powered by an entrepreneur’s vision and passion to do something better than what existed, transition to the second generation who work to preserve the wealth, only to see the family business return to the ashes from which they rose three generations earlier.

BLOG | FAMILY DYNAMICS / GOVERNANCE

What’s love (power & money) got to do with family business? EVERYTHING.

When I began my career in family business consulting nearly 20 years ago, I met Dean Fowler, one of the early thought leaders in the field of family business and author of several books, most notably Love, Power and Money. As it turns out, these 3 words line up perfectly with the famed 3-circle model developed by Davis and Tagiuri of the Harvard Business School in 1978,  depicting the family business system - the intersecting circles of family, business, and ownership...

BLOG | LEADERSHIP

Who Should Bale the Hay?

Baling hay. It’s important & urgent work on a farm. It’s also a great business metaphor related to THE NUMBER ONE barrier to growth...

BLOG | NEXT CHAPTER

Maximizing Value to Always Be For Sale

When I started Compass Point nearly 20 years ago, I heard a quote from business owner (and my now mentor) Tom Stine, “The only reason to get into business is to get out.” I remember thinking at the time, “That’s a bit cold. Sounds like consultant talk.” But 20 years later, I can honestly say that truer words have never been spoken.

BLOG | NEXT CHAPTER

What is Your Lifestyle Number?

More often than not, when I ask business owners what their lifestyle number is I hear either “I don’t know” or “I THINK I need (X)”...

BLOG | NEXT CHAPTER

The 8 Family Business Transition Options – Which Will You Choose?

According to a survey conducted by the Exit Planning Institute, a staggering 75% of privately-held business owners regret selling or transitioning out of their business within 12 months of the transaction. How is it possible that owners are so disappointed just one year after what should be the happiest day of their life? There is a disconnect between their head and their heart.

BLOG | LEADERSHIP

Business Value May Start Here, But It Can’t Stay Here

Business value is all about business transferability. That value initially started with you, your hard work, and the relationships you built. Y-O-U. But the value can't stay with you. Why? Because the more transferable your business is, the more value it has.  And that comes down to one question: “Can your business run without you?”

BLOG | LEADERSHIP

3 Business Resolutions Every Owner Needs to Improve this Year

Studies show that just 8% of people who make resolutions achieve them. Just 8%. That means 92% fail. So as the company P&L resets to zero soon, what business resolution will you make? Not sales projections – a business development resolution, make that commitment.