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Will You Add? - Passing the Torch-Next Generation Leadership
The great gurus of the business world have understood that if you want to communicate a powerful idea, you may do better by a visual representation than by spinning abstract representations. Visual representation of a business and its services is very crucial for gaining an identity and creating a customer base in the market. A successful tool for representing your company, your products and your services with an unforgettable identity is a "logo". The logo is the first object people look at to build an impression about the organization.Originating in the mid 19th century, after a surge in industrial manufacturing that led to an increase in output, global distribution, and the commencement of competition, logos were created to differentiate between products within the same industry. Emblems or symbols were included on products, packages and labels. So buyers could easily recognize the product they preferred. There was a time when only affluent organizations could afford their own crest, emblem or logo. Through the years, a variety of graphic images had been used to represent a business. Technology has changed the ways in
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comm
Putting words on paper that cause people to take a desired action is the most profitable skill a small business owner or sales professional can learn. I often get asked if there are any secrets to banging out effective copy.The biggest secret I can tell you is to use a formula.Trying to write killer sales letters and ads from scratch is like trying to thread a needle with a garden hose. It’s damn near impossible.Here are some steps you can use to write effective copy.1: Answer these questions first and use the answers when writing your letter/ad.WHO are you writing to? WAYS you’ll prove what you say to be true? REASONS they won’t take action? OFFER (what is the call to action including your guarantee)?2: Get a stack of 3x5 cards and list every single feature of your product – one to a card (you should use lots of cards)3: For each feature write out as many benefits as you can think of for that feature – one per card.4: Choose a copy formula: Here are two great ones.A.I.D.A. Attention, Interest, Desire, Action Problem, Agitate, Solution5: Choos
We got to the lake and as he started uncovering the boat from the brush it was hidden under, I started getting a little nervous. Up to that point I had been so excited about going out on the lake with my dad that I had nearly wet my pants; the anxiety of the reality of the situation hadn’t set in yet. When I actually realized that I was going to be in this huge—deep lake, that’s when I started to worry a little. But, not too much, after all, I was with my Dad and he was going to teach me how to swim.
SOooo……. He rowed that old boat out to the middle of the lake, put down the oars, looked me right in the eye and said:
“Are you ready? ---- You can do this!”
I heard the “You can do this” as I was flying thru the air over the side of the boat. He must have thrown me fifteen feet away from the boat. It was sink or swim time. Obviously, since I am still here, I learned to swim. Not without swallowing several mouthfuls of water and seeing angels dancing in the clouds; but I finally figured it out.
You are probably wondering why I started this article with a story about how I learned to swim. Well, if you are an owner that has a son or daughter working in your business, ask yourself this question.
“What are you doing to teach your son or daughter how to run your business? Do you have an actual plan or are you just going to throw them over the side of the boat.” If that’s your plan, remember, the lake you are throwing them into is filled with alligators.
If your true desire is to keep the business in the family and pass it on to the next generation, you have an obligation to yourself, to the business, to your employees and yes to your son or daughter to make sure you are doing everything you can possibly do to help them prepare to take over the business. I can offer one simple piece of advice; when they are ready, back off and get out of the way. There are all kinds of published recommendations on this subject regarding family qualifications etc. E-mail rick@ceostrategist.com and receive a free guide titled “Leadership & Succession in the Family Business.
Most kids that are heir apparent to the President or the CEO position in many cases, have been running the business for several years before they take total control simply because it is very hard for Dad to let go completely. Dads, or Mom, in some cases, try to evolve from being the boss, to coach and finally to colleague or board advisor, but this is a difficult transition. Of course, the transition is much easier if the child demonstrates exceptional competence, wisdom and vision.
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comme
Every company registered at companies house in the UK is now facing a new threat to their business in the form of 'Company Hi-Jacking'. This is when a company's identity is stolen by fraudsters. These criminals simply submit a forged form to Companies House, changing a company's registered address to a new location.Using the selected company's name and the new address, they are then able to carry out fraudulent activities, obtaining credit to purchase goods and services. This form of fraud is estimated to cost ?50 million a year to industry.As company hi-jacking is on the increase, the Metropolitan Police Service and companies house are urgently advising companies to take simple preventative measures to minimise their company's identity from being hi-jacked, including:1. IMMEDIATELY check your company's registered details are correct and that they have not been fraudulently changed - Search for FREE now at creditgate.com.2. IMMEDIATELY subscribe to an online monitoring service that will alert you by email if any changes are made to your company's details at companies house in the future - Subscribe for t
SOooo……. He rowed that old boat out to the middle of the lake, put down the oars, looked me right in the eye and said:
“Are you ready? ---- You can do this!”
I heard the “You can do this” as I was flying thru the air over the side of the boat. He must have thrown me fifteen feet away from the boat. It was sink or swim time. Obviously, since I am still here, I learned to swim. Not without swallowing several mouthfuls of water and seeing angels dancing in the clouds; but I finally figured it out.
You are probably wondering why I started this article with a story about how I learned to swim. Well, if you are an owner that has a son or daughter working in your business, ask yourself this question.
“What are you doing to teach your son or daughter how to run your business? Do you have an actual plan or are you just going to throw them over the side of the boat.” If that’s your plan, remember, the lake you are throwing them into is filled with alligators.
If your true desire is to keep the business in the family and pass it on to the next generation, you have an obligation to yourself, to the business, to your employees and yes to your son or daughter to make sure you are doing everything you can possibly do to help them prepare to take over the business. I can offer one simple piece of advice; when they are ready, back off and get out of the way. There are all kinds of published recommendations on this subject regarding family qualifications etc. E-mail rick@ceostrategist.com and receive a free guide titled “Leadership & Succession in the Family Business.
Most kids that are heir apparent to the President or the CEO position in many cases, have been running the business for several years before they take total control simply because it is very hard for Dad to let go completely. Dads, or Mom, in some cases, try to evolve from being the boss, to coach and finally to colleague or board advisor, but this is a difficult transition. Of course, the transition is much easier if the child demonstrates exceptional competence, wisdom and vision.
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comm
Etiquette. What does etiquette have to do with my success?Etiquette is an often overlooked but critical factor in our professional and financial success. It extends beyond table manners and permeates our daily social interactions. Treating people with respect, consideration, and honesty defines good etiquette. It’s quite simple: The nucleus of a prosperous relationship depends upon how you make a person feel.Golden Rule of EtiquetteThe golden rule of etiquette that has contributed to my business success and expanded clientele is making people feel comfortable, valued, and appreciated. Recently, I competed against larger competitors for a sizable contract and won. According to the client, my personality and awareness of the company’s culture outshined the competition.In today’s fiercely competitive business world, technical knowledge and expertise is no longer enough to ensure workplace success. The ability to get along well with others, demonstrate good manners, cultivate relationships, and deliver superior customer service is essential to business growth and career success. Companies hire
You are probably wondering why I started this article with a story about how I learned to swim. Well, if you are an owner that has a son or daughter working in your business, ask yourself this question.
“What are you doing to teach your son or daughter how to run your business? Do you have an actual plan or are you just going to throw them over the side of the boat.” If that’s your plan, remember, the lake you are throwing them into is filled with alligators.
If your true desire is to keep the business in the family and pass it on to the next generation, you have an obligation to yourself, to the business, to your employees and yes to your son or daughter to make sure you are doing everything you can possibly do to help them prepare to take over the business. I can offer one simple piece of advice; when they are ready, back off and get out of the way. There are all kinds of published recommendations on this subject regarding family qualifications etc. E-mail rick@ceostrategist.com and receive a free guide titled “Leadership & Succession in the Family Business.
Most kids that are heir apparent to the President or the CEO position in many cases, have been running the business for several years before they take total control simply because it is very hard for Dad to let go completely. Dads, or Mom, in some cases, try to evolve from being the boss, to coach and finally to colleague or board advisor, but this is a difficult transition. Of course, the transition is much easier if the child demonstrates exceptional competence, wisdom and vision.
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comm
Just the other day I was on the phone to a salesperson working for a manufacturer I’m dealing with in one of my businesses when he tried the old sleazy alternate advance - “How about Tuesday at 10 or Thursday at 1?”I nearly laughed him off the phone I was so insulted and bemused that he would try so blatantly to get me commit to a time which suited him for a meeting. The problem here is that most sales people today are still taught the same techniques that worked twenty or thirty years ago and fail to adjust them for today’s world.When your selling to the trade i.e. business to business sales, you have to remember that your often dealing with a prospect who themselves is or has been a salesperson in one form or another. This means that if you persist in using sleazy, pushy salesmanship you will get shut down. Fast!The prospect obviously wasn’t aware that I was an author on the subject of selling and have heard more closing techniques and sales strategies over the years than he could dream of. Nonetheless this is not the first time I’ve seen this happen and indeed many of my friends and business associates have
Most kids that are heir apparent to the President or the CEO position in many cases, have been running the business for several years before they take total control simply because it is very hard for Dad to let go completely. Dads, or Mom, in some cases, try to evolve from being the boss, to coach and finally to colleague or board advisor, but this is a difficult transition. Of course, the transition is much easier if the child demonstrates exceptional competence, wisdom and vision.
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comm
Small business owners attend networking events to get clients. Much of the time, it doesn't work the way they anticipated, and they often give up before really determining why it didn't work. They move to a different group and are destined to repeat the same mistakes.First of all, let's talk about networking basics. In order to get the maximum bang for your networking buck, join a group where your target market gathers and keep showing up. That means to go to every event you can possibly attend over and over so you can build relationships with the other members and they grow to trust you. You are not just looking to get clients directly from the group though; you want them to refer others to you, so that relationship is very important. Also, you need to stick with it for at least several months (depending on the frequency of the meetings), bringing the same consistent message.There are several basic reasons why networking might not work for someone and here they are:1. You're networking with the wrong people2. You're doing it wrong3. It's just not a good group for youDetermining what
If Dad is a typical old school autocratic type of leader who believes that sweating blood, an exceptional work ethic without concern for balance and shows no interest in discussing the emotional feeling side of succession, the kids will have difficulty maintaining a clear sense of expectations for themselves. They will not eagerly address interpersonal family problems and may even shut down. When that happens, the necessary skill development to take over the business becomes exceptionally difficult. Generally that results in just throwing them over the side of the boat and hoping they learn to swim.
1st & 2nd Generation Comments
I have discussed this situation with numerous 1st and 2nd generation owners and they all describe similar circumstances when describing how the torch was passed on. Many second and third generation leaders had to learn the hard way. It was sink or swim. Not all families work well together. Often time’s sibling rivalry impairs development. Jealousy, personal agendas and the weakness of Mom or Dad allows things to deteriorate in the family relationships as a result of the pending succession. Some families just become totally dysfunctional as a result of succession. That’s not to say that there aren’t any families that handle succession seamlessly and everything works out great. Many do, however, those that do have consciously planned well in advance for succession and have taken the proper steps years in advance.
What if Both the Son & Daughter want to Run the Business?
For those families that have both a son and a daughter working in the business a new wrinkle is thrown into the succession question. If both children want to take over the business a completely new set of challenges emerge. This decision should be based on the best interest of the business, individual qualifications and competency. In the old days, this was never an issue. It was just an accepted fact that the first son was the only consideration for taking over the helm. That is not the case today. The world has finally recognized the untapped skills and competencies that exist in the female population of the work force. Today, there are many female CEO’s running fortune 500 companies. Although female talent is getting much greater attention these days, generally the male sibling of that female CEO candidate couldn’t see his sister’s talent through a pair of binoculars. Even if he does see it, he often will not acknowledge it, especially if his sister has demonstrated a higher level of competency, desire and attitude about taking over the family business than he has.
First generation Fathers generally look forward to the day their son can take over the family business. However, they often fail to realize that true succession means they will no longer be at the helm. As mentioned earlier, this is not an easy transition.
Consider the Business Culture
Keep in mind that privately held family owned businesses often develop a culture that is just an extension of the family culture. Family roles are often emulated when multiple family members work in the business. This creates additional challenges. Every family has it own by-laws, sacred cows, cherished beliefs, myths, rules and roles. Sometimes there are so many sub culture family issues left unaddressed that a big blow up occurs that can affect the entire company. However, this underbrush of sub culture issues must be cleaned up for the company to continue to grow and prosper. This makes the blow up not only imminent but necessary.
Keeping the Torch Lit ---- A Succession Guide
The answer to passing the torch is not that complicated even though execution is often difficult. Consider the following guide in setting up your succession plan and you may avoid many of the pitfalls and
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