Category Archives: Entrepreneurs
Exit Planning – What does it look like in a Self-Managing Company?
February 2, 2016Let’s examine what your exit strategy might look like as you work toward building a self-managing company. Should you even have one?
Most entrepreneurs have this idea that they’ll work forever, or at least until the day before they die. Is that really a good idea?
For the purposes of this post I’d like to identify Three types of entrepreneurs. Survival, Achievement, and Lifestyle. As in any start-up there are sometimes months and even years of just getting by. Scraping for every last available dollar to keep the venture going. Building a clientele and a business is no task for the faint of heart. As opportunities for growth become more a way of life and the viability of the business is proven I’d shift status to that of an Achievement Entrepreneur. Profit is evident, debt is being eliminated (unless it’s productive debt), and a shift to more consecutive quarters of positive earnings provides a bit of a cushion for the cycles to come. Lastly, a Lifestyle Entrepreneur is able to choose exactly how he or she may want to balance their life between work, family, faith, social, physical, philanthropic and almost any other category of life you’d like to toss in to the mix. Call it a work/life balance.
Knowing and Understanding the Five Generations of American Workers
January 8, 2016The five living generations:
1. Traditionalists – 75 M – people born before 1946
2. Baby Boomers – 80 M – born between 1946- 1964
3. Gen-X’ers – 60 M – born between 1965- 1979
4. Millenials (Gen- Y’ers) – 82 M – born between – 1980-1985
5. Generation Z – 1996 – present
Traditionalists
The traditionalists are obviously the oldest segment of american society and one that was shaped by several major historical events/periods.
- The roaring 20’s
- Great Depression
- World War II
Traditionalists are generally marked by an unflinching work ethic, a sense of patriotism/nationalism, respect for authority and hierarchy, fiscal conservatism, and an allegiance to and a trust in institutions.
New Year’s Accountability
January 5, 2016OK, it’s that time of the year folks. New Year’s resolutions. Ugh. I totally get it on one level, but I’d like to trump that thinking with a different set of logic.
Resolutions have as much power as the UN General Assembly, or Congress it seems these days. Nada.
Here’s what I think and so does a guy who I really respect. Alan Weiss outlined these points in a recent “memo” and I’m giving him all the credit.
How about New Year’s Accountability? This is much more powerful if you follow the logic.
What’s in Your Top Box?
November 11, 2015It’s a question I heard recently from Bill Hybels at the 2015 Global Leadership Summit. Bob Buford was asked the same question from a high powered strategic planner he hired as he was considering how to move from success to significance in the second half of his life.
I’ve asked that question of myself more than once during my 35 year career as a business owner, employee and leader.
It’s a question that each one of us needs to ask ourselves. Whether in our business, our home, our ministry, or in any role where people look to us to bring a sense of purpose to our mission.
A simple parallel may be considered as you envision an old, deeply rooted tree. The root system represents our core values, beliefs and mission. Who we are and why we exist. The trunk, our operating principles. How we do things. The branches represent the culture or behaviors that exist in our organization. The fruit – The Results. Those results ultimately reflect back to the roots; our mission and the WHY behind doing what we do.
Besides coaching and consulting with CEO’s and business owners I’ve had the privilege of owning and leading a small business that provides our guests with some of the best food you can pack in a glass jar. Now in our 19th year in operation and located in the village of Intercourse, Pennsylvania, Intercourse Canning Company (ICC) offers a seemingly countless variety of canned edibles. You’ll find pickled vegetables, jams, jellies, relishes, salsas, sauces, fruits, dressings and more on our shelves. You name it. That’s the real “fruit” of the labor of many hard working folks and originating with our Creator. The ‘what’ and ‘how’ are obvious. The WHY? Not so much. You might say, “To feed people.” I say it’s more than that. It’s to care for those, while on vacation, who are looking for a place to enjoy themselves and disconnect from the pressures of life. Yes, they purchase a specially crafted and unique food but really it’s about the experience they have when they walk through our front doors. To graze on incredible samples of a variety of goodies; to see how canning was done the old fashioned way and learn how it all started. Our team members are charged with the mission to make the experience a special and memorable one. That’s the “Why.” To create a moment that they’ll talk about and enjoy for quite some time and when chowing down on the “fruit of our labor” they smile about the respite from life during their visit.
Book Review – A New Birth of Freedom
September 16, 2015
“A New Birth of Freedom” – Steve Forbes
Vision for America
Entrepreneur & Political Commentator, Steve Forbes, charts a simple yet profound course for America’s rebirth with his 1999 book, A New Birth of Freedom. A 1996 republican candidate for president and longtime editor of Forbes Magazine, Forbes proposes policies and methods throughout from a place of authority and sense. Covering topics from the tax code to the environment, few stones are left unturned in this manual of sorts fashioned to cut waste and focus on what matters most to Americans.
A New Birth of Freedom reads more like Forbes’ blueprint for his presidential bid than a compelling charge for Americans to reconsider republican ideals. With that said, I’m more than content to trade elegant language for something that’s straight forward and worthwhile! In delivering a worthwhile and judicious read, Forbes should be commended also for his common sense positions and free market tendencies. With many of his petitions either replicated today by conservative thinkers or re-purposed in some form in the political circuit, the bulk of what Forbes details in this book is nothing short of visionary.
Grade – B+
Becoming the Dumbest Person in the Office – 2.0
February 12, 2015Our very own Joe Sharp published a blog in October of 2009 titled ‘The Power of Becoming the Dumbest Person in the Office.’ In his blog, humility and “teachability” are identified as key ingredients in developing as a successful leader and business owner. This theme was also covered in Chapter Five of his book, Running Down Your Dreams.
From the perspective of an entrepreneur or business manager, embracing humility is a standard with which to strive for, many times resulting in a team that’s generally more devoted to their work. A team that is true to its mission and committed to diligence draws its attitude from the top and whatever is projected from its leadership, whether good or bad, tends to trickle down to each member of the team. This is the role of the leader: to set the “corporate tone,” establish and maintain the organization’s mission through word and deed, and to encourage and elevate his/her team. So, if the leader dictates the pace, what role should the other team members assume?