What are the rules? They are certainly those societal and other norms considered acceptable in normal human interactions. How can you take these rules and apply them to your business? You, the leader set the tone for the business, today and into the future. What is that tone? In 2008, greed and fear ruled wall […]
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Documentation. What do I mean by this? This is the collective knowledge all about your business: trade secrets, special supplier or customer relationships, secret recipes; all the things that are integral to why your business is successful. Your operational secrets, truly define your competitive advantage. This is not a document to be shared with everyone. […]
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Looking at your business from different perspectives can lead you to innovative thought and possibly a stronger business. You probably are aware of your three distinct roles in the business: 1. leader-employee, 2. family member, and 3. owner. In your daily interactions with your stakeholders, do you acknowledge and recognize that your decisions and goals […]
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Communication within families can be charged with emotion well beyond the words that are shared. Having said that, fruitful and effective communication is essential to create an environment for your succession plan to proceed and succeed. In discussions with others, we are often told things that should not be shared. Confidentiality. It is a challenge […]
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I was speaking with a client today about why his succession has worked. He has been running his company for over 50 years and had rightly identified a number of years ago that he would not be here forever. What did he do? At the time of his self reflection, he understood that he was […]
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