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. It had structure and you knew what you were going to do when you sat in that sand. You also (hopefully) limited your sand playing to the inside of your sandbox with friends who knew how to play creatively in the sand and resisted throwing it in others’ faces.
Now, consider if there wasn’t a sandbox; no defined space. Without that simple box structure, working with the sand would be much more difficult. It would fall in between blades of grass or get too spread out, limiting the ability to build or mound it into castles and other architectural achievements.
The same goes for business. Just as children learn to play within the 4 sides of a sandbox, businesses essentially do the same thing. Your business’s sandbox is your field of play where your organization plans:
What’s even better about a business’s sandbox is that it helps your business determine what products/services you won’t create, who you won’t sell to, and where you won’t deliver products/services. This structure helps narrow and refine the company’s focus and creates agile growth.
As businesses think about how they will innovate and evolve to meet the needs of the new world, this sandbox concept can help a business focus on the right markets to serve, products and services to develop and sell, and how to reach those new markets (and avoid the wrong ones).
It builds a framework for quicker, more strategic decisions made by the leadership team and gets everyone playing efficiently in the same sandbox.
Contact us for a free worksheet to share with your team and determine if you’ve designed the right sandbox. Let’s see what you can build together.
Need to develop or fix your sandbox? We can help.
BLOG | FAMILY DYNAMICS / GOVERNANCE
I’ve had my share of family business owners who avoid discussing this four-letter word to the point of pure denial, quickly ending the conversation when this word bubbles up. The word? E-X-I-T. It sounds so final. The brutal truth is that 100% of owners exit the business, yet only 50% – just 1 out of 2 owners – will do it on their terms...
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Many family-led companies hire business consultants to grow the business. Some even send their emerging leaders to personal development programs. But there is a gap – and it’s a BIG one.
Read MoreBLOG | PEOPLE / TALENT
The Golden 5% is the full expression of our ability, multiplied by our maximum possible effort, multiplied by our full contribution of heart. It is the performance equivalent of what we offer in a deeply loving relationship – the absolute best of ourselves. And yet, we rarely give it or reliably inspire the giving of it by others in organizations. Why?
Read MoreAt Compass Point, we make it easy to get insights, training, tools, and articles straight to your inbox and help family business owners and their team continue to grow, learn, and lead.