In this episode, Mitchell Levy, Chief Instigator of Ahas of the Aha Amplifier (http://AhaAmplifier.com), and his co-host for the month, #ThoughtLeader Dr. Stacy Feiner, Executive Coach for the Middle Market, have a lively exchange of insights with #ThoughtLeader PsyD Lise Stewart. Lise is the founder and CEO of Galliard Group (http://www.galliardgroup.com) and executive director of the Galliard Family Business Advisor Institute (http://galliardinc.com), which has trained over 400 business advisors across the U.S.
Culture, as defined by Lise, is what makes a company special and unique. But many business owners don’t realize that and fail to elevate culture into the conversation. Lise spoke about healthy and unhealthy culture and how companies fail to recognize what type of culture they have. If you are a business owner, ask yourself: Have you ever thought of culture in your company? Can you explain what’s so special about your company? How would your employees describe you as a leader? What sort of values would your employees say that you espouse or act out on a day-to-day basis? If that “special thing” you’re doing engenders loyalty and makes employees committed to their service, connectivity, and eventually, profitability, then you have healthy culture.
According to Lise, studies indicate that almost half of the 20 million family-owned businesses in America will go into a transition within the next 10 years, and 20 percent of that is likely to end in failure. As such, Lise emphasizes the need for trained business advisors or consultants to do something to reverse the trend by making sure they are helping business owners go through the transition successfully. Stacy agrees, noting that most business advisors often talk about winding down when a business is in transition,when they should be thinking about winding up.
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Here are a couple of AhaMessages from the episode. See more in the “Aha Moments from Thought Leader Life”eBooks available in the social media-enabled eBook platform, Aha Amplifier: http://AhaAmplifier.com/.
• Asking great questions and being able to guide business owners through the answers is part of the solution. @GalliardFBAI #TLL
• Every elite athlete works with a coach. Any vicious business leader should, too. @StacyFeiner #TLL
• Recognize that for you as a business owner to wind down, you must wind up first. @happyabout #TLL
• Focus not just on the tactical aspects of the work but also on the values, the culture, the people. @GalliardFBAI #TLL