BLOG | OWNER FINANCIAL GAP
Family business owners are passionate about what they do. They’re working to carry on a business that family built – by their parents, grandparents, sometimes even great-grandparents and beyond. These owners are so busy providing for their employees, communities, and the next generation that they often ignore their own financial future. Boiling it down to its true essence, business is a means to building wealth. And what are we supposed to do with that wealth?
Read PostBLOG | LEADERSHIP
One of the hallmarks of good leadership is to have a mindset of being a lifelong learner. When we continue to learn and apply, we become better leaders, ones who inspire our people to bring the best and who develop and hone the team’s skills to predict and delegate. That's where the lift comes in the business. That's where you take a business from good to GREAT. Great leadership multiplies and amplifies others.
Read PostBLOG | LEADERSHIP
Unequivocal responsibility-taking does not come naturally. True, we have an innate sense of when we’ve harmed others – the conscience inevitably pricks at us. However, we all also have an ingrained tendency to seek escape from consequences and accountability. We know what we should do, what we need to do, and yet we flee from it.
Read PostBLOG | UNCATEGORIZED
In the last twelve months, I have seen it all in the faces of my clients, my colleagues, and my team. I have felt it with my family, within myself, and my thoughts. While each group faced its unique challenges, there was a common need woven throughout it all for everyone this year. And that is my one word to sum up 2021 – belongingness.
Read PostBLOG | LEADERSHIP
Two years ago, I boarded a plane for California. I remember it being BEFORE DAWN…which is so NOT my time of day…
Read PostBLOG | LEADERSHIP
How can you ensure you’re creating and leaving a positive leadership legacy for yourself and your team? Everyone has bad days, sure. But you need to have the good days outnumber the bad ones. How? Become a Multiplier leader. Multipliers get 200% more capability from their employees than Accidental Diminishers do.
Read PostBLOG | SYSTEMS
Have you mapped out your core business systems? Can you ensure everyone on your team understands exactly what is needed and how to complete the required steps of your processes? Are you able to transfer that knowledge to new hires and train them? How will you fill the gap if a key employee leaves?
Read PostBLOG | FAMILY DYNAMICS / GOVERNANCE
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...
Read PostBLOG | CUSTOMER
According to Peter Drucker, a customer rarely buys what the company thinks it’s selling. Wait, what? That’s right – what the company had in mind when first creating the product or service is likely NOT the real reason a customer will buy it. This is where I want to introduce the concept of jobs to be done...
Read PostBLOG | LEADERSHIP
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...
Read PostBLOG | NEXT CHAPTER
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.
Read PostBLOG | STRATEGY
While a sandbox is an unconventional image to describe a facet of your business, it is the perfect analogy. And yes, it should conjure up images of your childhood and time spent in a shallow box filled with sand and, of course, a few toys...
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