An effective leader creates an inspiring vision of the future and are passionate about developing the emerging leaders around them. They constantly work to improve their emotional intelligence and know that a strong team culture is the foundation for accomplishing the mission. They are in a perpetual state of preparation and embrace the inevitable changes their businesses will face.
Owners are a Minority When it comes to careers, business owners are a minority of the population. In conversations this week, I mentioned the statistics several times, and each owner I was discussing it with was surprised that they had so few peers. According … Read More » Celebrating Mr. Fezziwig Since 2013 I’ve updated this piece about the underappreciated and forgotten boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! Last week was the 180th anniversary of the publication of Charles Dickens’s A Christmas … Read More » Delegation and Depth - Company Readiness for Exit Delegation and depth are critical when presenting your business as a buying opportunity. For many business owners, exit planning means getting the company ready for sale to a third party. There are a number of approaches to enhancing preparedness for … Read More » The Role of a Coach in Exit Planning Defining the role of a coach on your exit planning team doesn’t just happen. Like any other aspect of working with consultants, you need to set expectations upfront. Many advisors like to characterize themselves as the “quarterback” of a transition … Read More » "Work From Anywhere" Comes Full Circle Work from anywhere was initially a boon for many employees. Now employers are catching up. Read More » Family Succession Planning: Who Gets the Office? Sometimes the most sensitive question in family succession planning is “Who gets the office?” Dad’s (or Mom’s) office is usually perceived as the center of authority by the employees and other family members. That is where you got called on … Read More » Exit Strategy – Harvest or Grow? In every internal transfer, whether to family or employees, the owner/seller has to make the harvest or grow decision. We’ll presume that your business has already reached a point where its value meets or exceeds your financial objectives as the … Read More » An Employee Retention Culture Do you have an employee retention culture? Finding and keeping employees is exceptionally tough at present. Some are working remotely and being poached by employers in another state, others are listening to the pundits saying that employment is a seller’s … Read More » Do you Suffer from Decision Addiction? Do you suffer from decision addiction? The typical business owner lives on dopamine. According to WebMD: Dopamine is a type of neurotransmitter. Your body makes it, and your nervous system uses it to send messages between nerve cells. That’s why … Read More » A Boss for the other 364 Each year I reprint a post from 2013 about the underappreciated boss of A Christmas Carol, Mr. Fezziwig. I hope that you enjoy it. Merry Christmas! This week was the 178th anniversary of the publication of Charles Dickens’ A Christmas … Read More » Manager or Leader? Planning Succession Should you hire a manager or leader as part of your succession planning? Before you make that decision, you need a pretty good idea of what your exit plan is. Once your objective is set, it’s one of the answers … Read More » Non-Qualified Plans in Exit Planning When I talk to business owners about “non-qualified plans,” their first reaction is often “Hold on there. I don’t want to get in trouble!” The term “Non-qualified” merely refers to the Employee Retirement Income Security Act of 1974, more commonly … Read More » The Missing Employees Are you missing employees? Where did they go? I just got off the phone with a restaurant owner who temporarily closed one of his locations so that he could redistribute the staff to the other three. I’ve also heard or … Read More » Are Remote Employees Value Killers? Remote employees can have a dramatic impact on the value of your business. If your exit strategy is to sell to a third party, take some time to think about the areas where offsite workers could have an impact. Curb … Read More » The Downside of Remote Work I came in this morning planning to write about the downside of remote work. It isn’t for everyone. In fact, it creates new long-term problems for businesses and will continue to do so. (For a related topic, see my previous … Read More » |