Family Business

Family businesses often find themselves very fragmented in what they do and unclear whom they do it for. Trying to be too much for too many leads to mediocre results at best and can spiral into the commodity trap. 
 
If you do not define a specialty and/or narrow your audience (down from everyone) your service or product will be seen as a commodity and your... Read the Full Story
Ask yourself this question… “Would I enthusiastically rehire everyone on the team today?”  Cringing a little at the answer? Here’s a tool to help you evaluate this question. It is called the Player Grid
 
The Concept: place each member of your team into one of the four boxes:  A-players, B-players, C-players,... Read the Full Story
2018 is officially in the books! It’s time to take stock of bright spots and disappointments and start planning for 2019.  Some people think this whole practice is a waste of time, but I find that taking time to stop and reflect on the past year is critically important to personal, professional and business growth.  
 
As business people, we’ve all heard the axiom... Read the Full Story
compass-point-consulting-family-business-value

In my 30+ years in business, this concept has escaped most business owners who want to transition ownership/sell – the relationship of cash flow and business value, known as the Valuation Teeter Totter.  We call it that because it reflects the relationship between cash, or the company's ability to generate cash, and the value of the business.
 
If you recall as a kid sitting on a... Read the Full Story

As business owners, we take great pride in our past, our business’ accomplishments and our own – association awards, anniversaries, and employee/customer success stories.  
 
But the reality is buyers don’t buy the past. Whether they are family or a third party, the #1 thing a buyer is buying is the future stream of profits.  For the owner it is an end, but for the... Read the Full Story

John Maxwell, internationally known pastor and leadership expert, has often stated that our attitude determines our approach to life.  In other words, our attitude gets us what we deserve in life.
 
One of my favorite stories told by Maxwell is about a Grandma and Grandpa who visited the grandchildren. Each afternoon Grandpa would lie down for a nap. One day, as a... Read the Full Story

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