Articles

Determining the Pace of Change in Business

Determining the Pace of Change in Business

Let’s look at determining the pace of change in business. In a recent blog, I introduced the idea of Setting the Pace of Change. There are several factors to consider and when determining the cadence, leadership faces an added challenge. They must balance the realities of the business with the emotional impact that could damage the human resource infrastructure. So how do change leaders push back against ‘status quo’ that holds strong investment and commitment from employees – and corporate leaders? They must make the case that ‘status quo’ is no longer adequate to keep the firm relevant and competitive in its market. “We’ve always done it this way,” has been the last words of many doomed or dying organizations. Communication and transparency allow for a conversation that introduces the […]

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Setting the Pace of Change in Business

Setting the Pace of Change in Business

As entrepreneurs, we know that change is constant. But is it a bad thing? I agree with psychologist Dr. Dennis O’Grady who said, “Change has a bad reputation in our society. But it isn’t all bad – not by any means. In fact, change is necessary in life – to keep us moving, to keep us growing, to keep us interested.” Change that originates within us or within our organization is typically within our control. However, external change might be instigated by a shift in markets, technologies, customer needs, demographics, competitors or even, a global pandemic. These occur outside our control and yet, when we let go of fear, we can often identify opportunities we never considered. No one can deny that since 2000, businesses have experienced radical transformation. My […]

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Assessing Personality Assessment Tools in Matters of HR

Assessing Personality Assessment Tools in Matters of HR

Let’s look at personality assessment tools and how the Phillies 2019 season relates to them. Baseball is back and for those who may not know, I was born and raised in Philadelphia and am a diehard Phillies fan. Yep, I am one of those “passionate” Philadelphians who often get a bad rap due to what some consider outlandish behavior. We can talk about that another time but for now, I’d like to focus on how the Phillies 2019 abysmal season ties in with personality assessment tools. The Phillies went from a team ranked #1 in their division to ending up second to last place when the season ended. The consensus is that baseball analytics, or rather the sole reliance upon analytics, was a major reason for their demise. You see, […]

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Executive Coaching Can Clean Your Head Trash

Executive Coaching Can Clean Your Head Trash

I struggle with Head Trash. I’ll go out on a limb and suggest that I am not the only business owner who struggles with this ailment. For those unfamiliar with the term, head trash is the negative thoughts, feelings, or emotions that can consume you about yourself and/or your business. These self-deprecating beliefs, which are false most of time or exaggerated at best, are so strong that you can be held back from making decisions and seeing the reality of a situation. I’ve tried many self-cures throughout the years for my head trash including denial of its existence, downplaying its effects, making a joke out of it, and getting angry at myself. To my dismay, it continued to rear its ugly head. The irony is not lost on me that […]

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What Do Your Company Financials Tell You?

What Do Your Company Financials Tell You

Let’s look at how to understand your company financials to better drive growth. There’s been a lot of discussion recently with business owners who are trying to make sense of their financials over the last few months so they can better plan for 2021. I recently spoke with a client about the ‘stuff’ hidden between the lines of his company’s financials. Sometimes the way things look on the outside or on the surface just aren’t what they really are underneath. This is true with your financials especially when delving into the balance sheet. I still contend that the balance sheet is one of the most misunderstood and underused tools in business. Hidden gems can be easily revealed by reviewing it. Here’s a great example. What company would you rather have? […]

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Batter Up! Hitting for Wins in Business

Hitting for Wins in Business

As we excitedly anticipate the late start of Major League baseball, I’m reminded of my days playing as a boy.  No matter what team I was on or what the score was, when it was my turn at bat I always aimed for a homerun.  In my young mind, hitting a homer was the pinnacle of success. The average number of home run hits in a major league game in 2018 was 1.13. Obviously, hitting a home run at each bat is nearly impossible. So why do so many entrepreneurs, like me, consistently vie for the home run in business? You know what I mean; trying to land an improbable account that will quadruple revenue, seeking that one superstar who could take your company to the next level, or counting […]

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The Visionary Conundrum – Business Succession

The Visionary Conundrum - Business Succession

Heard this story before? A successful business owner is preparing to retire. He has a daughter that’s already in the business who he desperately wants to succeed him as CEO/Visionary but something is holding him back. The business owner can’t put his finger on it, but he feels that she may not be ready to take over. What gives? It’s what we call “The Visionary Conundrum.” For those unfamiliar with the EOS® term, a Visionary is the leader of an organization (CEO, President, or Founder) who is responsible for generating ideas about future opportunities and creative ways to expand. Visionaries are most likely entrepreneurs who are big picture, forward thinkers. We have found that in certain instances the angst that business owners feel about giving up the reigns to the […]

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Understanding How Others Perceive Your Leadership Style

Understanding How Others Perceive Your Leadership Style

Are you curious how others perceive your leadership style? I recently came upon the quote below from Warren Bennis that really intrigued me. Without getting too philosophical, how does one become oneself? What are the factors that shape us? Nature vs. Nurture? Opportunities vs. Struggles? If experiences play a part, then aren’t we always evolving? “Becoming a leader is synonymous with becoming yourself. It is precisely that simple and it is also that difficult.” – Warren Bennis Here’s what I do know. The person we tell ourselves we are can be very different from the person others perceive us to be, especially in the workplace. If you’re a leader in business, it’s important to know how you are perceived by others. So, the question to really ponder is not “Who […]

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Creating Strategic Plans That Work

Creating Strategic Plans That Work

Strategic Plans (aka Roadmaps) are useless. There, I’ve said it. How many times do companies spend the effort, energy, and money on building a strategic plan only for it to collect dust on someone’s desk within a month of its conception? Don’t get me wrong, as we approach the halfway mark of an unprecedented 2020, now is a great time to generate a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis along with Critical Success Factors (CSF’s) and 1-3-5-year goals. Understanding what makes your company thrive, recognizing its shortfalls, exploring new ventures and possible downfalls is a great exercise for a team. It not only educates and creates insight, but it also motivates. However, the unfortunate reality is that motivation alone cannot bring a strategic plan to life. Motivation must go […]

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What’s Under the Disguise?

Are You in Control or Hiding Behind a Disguise

I’m a control freak. This comes to no surprise to the many people I have worked with throughout the years. I like making decisions and guiding my own destiny. It’s one of the reasons why I started my first business at the age of 27 and continue to be an entrepreneur. So, can you imagine how difficult the uncertainty of Covid-19 is for me? If you run a business, I’m sure you can relate. Many business owners, even those who are not fully self-aware, admit to possessing this characteristic. Actually, if you define being controlling as wanting to realize a particular outcome, then all of us should label ourselves as control freaks. As with any personality trait, however, there’s a dark side hidden under the disguise. Often, owners (and their […]

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