Truly successful businesses excel in at least one of three key areas and adequately execute in the others depending upon the strategic focus they choose in delivering outstanding service to customers. These key areas are: Product Excellence – Strategies that deliver the best product(or service) at the best value – e.g., Apple; Customer Intimacy – … Read more

  This should go without saying, but we can all fall into the trap of taking our frustrations out on other people.  This can happen when we’ve just had a contentious exchange with someone or maybe just the proverbial “bad day.”  However, taking it out on the next person you meet is inadvisable to say … Read more

  This week we welcome back our good friend and fellow Mindshop member, Jerry Robinson of Atlanta.  You can learn more about Jerry by visiting his website at http:////www.coo-oncall.com/.  Thank you Jerry for your great contribution to our blog. If you could accomplish change in one thing or area of your life during the next … Read more

  In their best-selling book, Built to Last, Collins and Porras studied 18 companies which all met the following criteria: Premier institution in its industry Widely admired Made an indelible print on the world in which we live Had multiple generations of CEO’s Had been through multiple product/service life cycles Founded before 1950 In other … Read more

Last June, my wife and I went to Omaha to celebrate my daughter’s birthday with her and her family.  My grandson, Tyler, was watching out the front window as his grandma pulled into the driveway.  At the time, Tyler was nearly 21 months old.  What happened next is a story that Tyler still retells to … Read more

Guest Post:  Kavin Matthews is a financial writer from Carson City, Nevada, who has expertise in dealing with financial issues. He loves to contribute financial write ups to websites and blogs so that he can help people who are struggling with financial worries. Starting a small business is a difficult task particularly if you find … Read more

When family business leaders think about a successor to their position, they often think first of the next generation of family members.  This is certainly understandable, since it represents one of the primary reasons for owning a family business.  However, this line of reasoning is not always in the best interest of the business.  There … Read more

Succession planning is a process, not an event.  It doesn’t matter if your chosen exit strategy is a transfer within the family or an outright sale.  The process takes time, effort and planning to ensure an orderly transition of the business.  Unfortunately, appropriate succession planning is not something that most companies do well and may … Read more

  When a qualified son or daughter decides not to join the family business it can cause confusion, resentment and emotional distress for the entire family.  So why would an individual turn down what others perceive to be the “perfect job?”    The long shadow.  It is sometimes difficult for even the most qualified family successor … Read more

A 2011 survey of family businesses conducted by Family Business Magazine revealed that over 35% of business leaders will retire in the next five years and nearly 60% will retire in the next ten years.  With the runway for business transition growing shorter and shorter, it’s troubling to note that only 15% of respondents had … Read more