Month: July 2017

  • Are Your Actions Undermining Your Words?

    July 26, 2017

    Carl Jung famously said, “You are what you do, not what you say you’ll do.” As clear and simple as that statement is, I’ve seen hundreds of otherwise successful leaders behave as though it doesn’t apply. If you want to quickly kill your company’s culture, consider making that mistake yourself. Here are a few ways […]

  • Hold Your Employees Accountable without Damaging Company Culture

    July 24, 2017

    Many business leaders have worked hard to build their company’s culture, only to realize that they’ve created a culture without accountability. There’s a healthy work/life balance and employees enjoy being together, but productivity isn’t as strong as it should be and no one seems to be on the same page. Many leaders are afraid of […]

  • Succession Planning Tip #5

    July 14, 2017

    Tip #5 – Get outside help with your business succession planning. Lawyers, accountants, financial advisors – there are many professionals that can help you put together a successful succession plan. There are even companies that specialize in family business succession planning like Transition Point Business Advisors, who will facilitate the process of working through both […]

  • Succession Planning Tip #4

    July 13, 2017

    Tip #4 – Train your successor and work with them. How can you expect your successor to take over and run your business successfully if you haven’t spent any time training him or her? Your family business succession plan will have a much better chance of success if you work with your successor(s) for a […]

  • Succession Planning Tip #3

    July 12, 2017

    Tip #3 – Get over the idea that everyone has to have an equal share. While this is a nice idea in theory, it may not be in the best interests of your business. Remember that management and ownership are separate business succession planning issues. It may be fairer for the successor(s) you have chosen […]

  • Succession Planning Tip #2

    July 11, 2017

    Tip #2 – Involve your family in business succession planning discussions. Making your own succession plan and then announcing it is the surest way to sow family discord. Opening a dialogue among family members is the best way to begin the process of a successful succession plan – one where close attention is paid to […]

  • Succession Planning Tip #1

    July 10, 2017

    Tip #1 – Start business succession planning early. Five years in advance is good. Ten years in advance is better. Many business advisers tell budding entrepreneurs to build an exit strategy right into their business plan. The point is, the longer you get to spend on succession planning, the smoother the transition process is likely […]

  • What the Heck Is a Company Vision, Really?

    July 3, 2017

      Many companies don’t communicate their vision to employees, and this leaves the entire organization wondering, “Where are we going?” If your employees don’t know where you’re going, how can they help you get there? In fact, many employees don’t even know what a company vision is. A company’s Vision simply put, is a matter […]