Articles
The Darker Sides of Family Businesses
"Despite having to contend with internal family tensions on top of the usual work stresses family businesses still outperform non-family businesses. At the end of the day it’s not what they succeed at but the way they succeed that makes the difference." – Jane Hilburt-Davis Thus consultants to family firms, who work with the owners and the family as well as the business, must be prepared to help their clients work through the emotions they experience as they make changes to improve the health of both their families and their businesses. Professionals who consult to the business only, and not [...]
A Simple Formula for Business Success
"In business you get what you want by giving other people what they want." – Alice MacDougall Are you among the business leaders who believe the economy is starting to pick up? Or do you foresee another year or two of tough going for your business? Regardless of where you stand on the subject, chances are you’re at least thinking about how economic recovery will affect your business. I hope you’re giving serious thought to preparing now for the better market conditions to come. No, that wasn’t a typo. You need to prepare your business for the rebounding economy. Chances [...]
Clarity: A Key Driver of Business Success
"Leadership is creating a future for your organization." – Gordon Sullivan One of the most common problems I see among closely held businesses (actually most businesses) is a lack of clarity: By clarity, I mean the following: 1. Vision: Vision defines what your organization will look like and be doing in three years or so. You don’t have get fancy here, simply describe what you are building, what your revenues will be and what kind of customers you will be serving. Without a clear vision that everyone understands and shares, the organization’s work will be sloppy and disorganized. 2. Mission: [...]
The Job of the Owner: Getting Things Right
"Rank does not confer privilege or give power. It imposes responsibility." – Peter Drucker The problems we encounter in closely held businesses often stem from the fact that most of the business owners are experts in a professional discipline but are not trained and experienced businesspeople. They might be engineers, physicians, electricians, attorneys, accountants or any of a number of other disciplines. They know how to manufacture a great product or provide a critical service, but they usually do not have the broad business expertise to manage change or fend off aggressive competition. Many of these companies do all right [...]
World-Class Service
"Customers don’t expect you to be perfect. They do expect you to fix things when they go wrong." – Donald Porter – V.P., British Airways I recently had an exceptional customer service experience. I had to take my car into my local dealer for repairs and the job was not done quite right. The technician apparently had not checked out the alignment properly and I had to take the car back. The service department gave me a loaner car and did the work correctly this time. Even though the work was not done correctly the first time, they did a [...]
How Does Your Company Stack Up Against the Best?
"Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort." – Paul J. Meyer The economic news has been so bad for so long, it’s hard to believe that any business is doing well these days. And yet, there are companies that have not only survived the recession, but thrived in it. Profiles International recently studied America’s Most Productive Companies to determine what sets them apart from other organizations. They identified five “people attributes” that help this elite group of companies succeed. If your organization isn’t doing as well as [...]