How to think strategically about my family business' future

When’s the last time you took time to think? I mean really THINK. Envision. Dream. What’s that? No time between all the meetings, family commitments and running the business? No time. Well, that’s the trap. It’s not that you don't have enough time. You are caught up in a trap and that trap is called “Busy Doing”.  
Early in your career, it was... Read the Full Story

The Shiny Penny Syndrome

There is a disabling disease that runs through family business leadership, especially those that are scaling up, and it can cause real havoc. It’s called “Chasing the Shiny Penny Syndrome”.  It’s when the company chases a new “shiny” opportunity in lieu of the core (and perhaps “boring”) stuff that got the business to where it is today.
Every company has... Read the Full Story

Some of the best-laid company plans were created on the back of a napkin. Lots of scribbles and doodles, but in the end, that lunch time, strategy brain dump was like gold. And it all fit on ‘one page’.
As businesses grow, leadership gets so engrossed in survival that they forget to stop, review, and update their ‘plan’ for... Read the Full Story

I’m a big tennis fan and have been enjoying the Australian Open the last two weeks. It’s the first leg of the four grand slam tournaments of tennis (Australian Open, French Open, Wimbledon, and US Open).  This tournament had a number of story lines, but none better than the men’s final of Roger Federer of Switzerland vs Rafael Nadal of Spain.
Dig deeper... Read the Full Story

Developing your company’s strategy can be daunting.  Where do you start?  Who should be included in the planning sessions?  How do we get to a meaningful plan that can be implemented?  How do we make sure this isn’t just an intellectual exercise?
Building a good business comes down to 3 fundamentals…the same 3 we use as a parent raising kids:... Read the Full Story

Is your business for sale every day?

The statistics of family business transition success (or lack thereof) are well known: Just 33% make it to the second generation, and only 5% make it to the third.  Rags to riches to rags.
Many family owners think legacy is about maintaining the ‘business’ for future generations.  But this thinking is probably the #1 reason... Read the Full Story

One of the biggest traps I see family business owners fall into is the “I’ll sell my ownership when I retire” trap.  Remember, the only reason to get into business is to get out.  And getting out is a lot harder than getting in.
There are many family business owners who proudly tell me they have reinvested all the business profits back into the... Read the Full Story

Business Owner Strategy

As a business owner, you understand commitment. You give up your weekends when there’s work left at the end of the day. Your weekends suffer because of that emergency that can’t wait until Monday. Your sweat is what keeps the company moving along. But are you committed to creating a business that truly supports your life?  In order to run... Read the Full Story

Why don’t more employees do what they are supposed to do?  Author and consultant William Schiemann might have part of the answer—only 14% of the organizations he polled report that their employees have a good understanding of their company’s strategy and direction.
For leaders looking to close the alignment gap in their organizations, here are three key steps:

  1. Develop a... Read the Full Story