Is the glass half full or half empty? How you answer depends on your perspective. For someone who has always received a full glass and now is being told this is all the water available, this picture can be a perilous omen. On the other hand, someone lost in the desert might describe it as salvation.
Perspective is critical when making decisions within your company. A distorted perspective can lead to the wrong decision, sometimes with disastrous consequences. (more…)
I was perplexed at the outcome of a recent meeting with a prospective client. It was with a business owner referred to me from a current client. This owner clearly was motivated to grow his business but was “stuck in a rut”. In discussing the terms of engagement, he recognized the value and cost-benefit of my services. It was a positive meeting resulting in scheduling our first regular client meeting.
Two days later the owner emailed to cancel this next meeting stating he was “just too busy to take the time.” Needless to say, I was surprised. Could he have found and hired another consultant? Or was my fee to steep? My current client who referred this person assured me the owner could afford the fee and had not hired someone else. My client said this had become a pattern for this owner; identifying potential solutions but never carrying through on them.
This got me thinking (more…)
When I think of the need for planning, I’m reminded of the husband who volunteered to plan and prepare Thanksgiving dinner for his wife’s extended family. Following his well-meaning plan, he started preparations the evening before including taking the turkey out of the freezer. It was still frozen the next morning when he went to start cooking it. Needless to say, his wife was not happy. But at least his plan included ample appetizers, side dishes and desserts. Imagine what it would have been like had there been no plan!
Businesses are a lot like Thanksgiving dinner. A poorly thought out plan will result in crisis. Having no plan leads to (more…)
Two experiences reminded me of the importance and scope of branding. The first happened when I added a new website address meant to reinforce my branding, StrategicBizGroup.com, and then created this email address using that URL. The result was a number of you asking which of my emails to use.
Also, a few of my clients have recently asked for feedback on their logo, using the words “branding” and “logo” interchangeably. This channels the marketing teacher in me which immediately starts to explain the difference between a “logo” and “branding”. (more…)
Frustration is a common sentiment I hear from owners first seeking my advice. Their frustration stems from not having been able to achieve goals despite their unwavering efforts. Sometimes the owner had a plan but was not able to deploy it effectively. Or, the owner was always finding “great ideas” but ended up barraging his staff with a never ending list of “great ideas” not understanding why nothing got done. The other end of the extreme is the replication trap of being stuck in an endless do-loop, too busy to even consider alternative plans. These owners come to me for a fresh perspective; a different way of looking at their operations.
I was reminded of the benefits offered by a fresh perspective from an unexpected source: A public school district. (more…)
In doing research for The Small Business Forum, I found two authors who succinctly describe a major source of frustration for business owners. The first states: “One of the toughest things about starting a business is the feeling of loneliness and isolation…. The leadership position alone can cause loneliness and disconnectedness, and that sometimes results in self-defeating behaviors.” I’m sure many owners can relate to this sense of “isolation” as well as the “self-defeating behaviors” listed by both authors: Conflict avoidance, Procrastination, Intimidation or Subpar feedback to employees.
How can owners overcome this? Both authors point to building and regularly consulting with a trusted team of advisors. This is perfectly describes the purpose of The Small Business Forum. (more…)
I recently broke a promise I made to my wife. I promised I would not bring up politics at our family’s Thanksgiving Day table. Well the conversation turned to college football and started to get heated. I quickly changed the topic and asked what everyone thought of our presidential candidate choices. The tone of the conversation immediately calmed down.
It is amazing which conversation topics turn heated and which are seemingly too uncomfortable to bring up. But some conversations need to be had (more…)
A recent Wall Street Journal article focuses on a potential positive in what is otherwise described as “grim statistics” for family businesses. The statistics: Only 30% of family businesses survive into the second generation; 11% survive into the third generation and 3% beyond that. Use of words like “grim” and “only” connote a terrible fate for the families of businesses that do not “survive”. However, selling the business can be the best path for many families. And, as noted in the WSJ article, now is a good time for families to consider selling. (more…)
I recently had the opportunity to sit down with a co-founder of a small, entrepreneurial company and learn about his experiences. The company was formed in 1998 and saw quick, continued growth that was only slightly curtailed by the downturn in 2008-09. Now, he and his partners are facing challenges as transitions and growth bring in a new, younger group of managers. Hearing this founder’s story, I was struck by how much his company’s path had in common with a family-owned business as well as what was different. Here is a short checklist (more…)
It’s been a busy month for Reddit. July has included a major shutdowns, the loss of a CEO and the return of a co-founder who quickly cracked down on errant users. It’s a storyline that could inspire TV soap opera writers!
In reality, there are two, overlapping stories which offer valuable lessons in communication for all managers. (more…)