Tuesday, May 9. 2023
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Redesign Your Business: A Simple Question That Can Save Your CompanyWhen your organization is stuck and is unable to get to the next level or encounters an insurmountable business problem, consider the following: if you had to redesign your business today with no constraints, how would you do that? Many of our business problems result from all the processes, procedures, and paradigms that we've put in place. Once they are in place, they become part of the organization's business culture and, unfortunately, seem unchangeable. And yet, we forget that we created these roadblocks and are hesitant to remove them. One business owner was confronted with such an issue. He realized that his business was going to fail, and he would lose everything. He brought this issue to his Vistage Group and asked his peers for their counsel and advice. He wasn't expecting that they would save his business, but that's what they did by asking a simple question. The members asked this individual, "If you had to start over again, how would you redesign your business?" And the member responded by stating the number of people he would employ, the positions that would be filled, the facilities that he would use, and the processes that would be changed. At that moment, he recognized that there was an answer, but also, would he have the fortitude to make the necessary changes. It is easy for us to trick ourselves into believing we cannot change the components of a business. Yet, many areas can be modified respective to our level within the organization. The challenge is to have the courage to make the changes. When this question is answered, it leaves the decision-maker with a simple gap analysis. The gap analysis is one of the most simplistic forms of a business or strategic plan, which can be summed up as follows: "Where am I, where do I want to be, how do I get there?" Determining what change is necessary and how to implement is difficult because of the following: • Unwillingness to change • Political or family restrictions that may overrule the change • Inability to see the change that is required If you google ”small business failure,” you will find many different examples where companies went in the wrong direction. Consider the following instances that have resulted in business failure: • Failure to establish and communicate company goals • Lack of vision and purpose by principals • Poor market segmentation and strategy • Competition or lack of market knowledge • Over-dependence on specific customers or individuals in the business • Lack of management systems • Absence of a standardized quality system • Lack of financial planning and review • Inadequate capitalization • Owners or leaders concentrating on the technical rather than the strategic work at hand It is easy to confuse cause and effect with lists such as these. Keep in mind that the items above are symptoms. For almost all business failure cases, regardless of company size, the main culprit or cause is ineffective, dysfunctional, or incompetent management teams. It is easy for a management team to be blindsided by a competitor, technology, or dysfunction. Overlooking any of these areas is one of the most fundamental reasons companies should have some form of outside board that is credible and persuasive to help management recognize potential problems and opportunities for the organization. It is also a group like this that can help your organization redesign itself and identify areas holding the organization back or opportunities that should be pursued. Consider how we witness this all the time with the national football league. General management attempts to secure impact players for the current season and impact players for the future. Roster changes are made where fans complain, critique and wring their hands over the future success or failure of the next football season. The lesson for us is simple. Do not let the failures or successes of the past obstruct your future success. Critique your business as if you had to start again and see what changes you would make. Once the changes are identified, do you have the courage to make it happen? Who is Jim Lindell Jim Lindell is President of Thorsten Consulting Group, providing strategic and financial consulting, professional speaking, training and executive coaching. He is a Vistage Chair and responsible for two CEO groups in the Milwaukee area. He is an Award-winning Speaker and Best-Selling Author. Contact him at 262-392-3166 or [email protected]. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Friday, March 31. 2023
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Business Culture – Music Groups – or - The Role of Culture in Shaping Business SuccessBusiness culture is the way things get done in an organization. It encompasses the values, beliefs, behaviors, and attitudes that define how individuals and groups interact with each other and with customers. Culture is often described as the "personality" of a company and plays a crucial role in shaping the organization's success. It's important to recognize that no culture is inherently right or wrong. Each culture has its strengths and weaknesses, and what works for one organization may not work for another. What's crucial is that the culture aligns with the organization's values, goals, and strategies. It's up to the organization's leaders to shape the culture to create a cohesive and productive work environment. Formal Culture - Orchestra In a formal culture, there are clear rules, regulations, and protocols that govern how individuals interact with each other and with customers. Communication tends to be hierarchical, with decisions made at the top and cascaded down the organization. Employees are expected to follow established procedures and adhere to strict standards of behavior. The orchestra is an apt metaphor for a formal culture. Members of an orchestra must follow the conductor's cues and play their instruments in a precise and coordinated way. The conductor is the leader who sets the tone and direction for the performance. Informal Culture - Irish Rovers In an informal culture, the focus is on relationships and collaboration. Employees are encouraged to share their ideas and opinions, and communication tends to be more horizontal than vertical. There may be fewer formal rules and procedures, and employees may be given more autonomy to make decisions. The Irish Rovers, a folk music group, exemplify an informal culture. Folk music is often passed down through generations, with each musician adding their own interpretation and improvisation. Collaboration and spontaneity are key elements of folk music, much like an informal business culture. Chaotic Culture - Heavy Metal Group In a chaotic culture, there may be little structure or organization. Communication may be unclear or even non-existent, and there may be a lack of direction or strategy. Employees may feel unsupported or uncertain about their roles and responsibilities. A heavy metal group is an appropriate analogy for a chaotic culture. Heavy metal is known for its loud, aggressive sound and rebellious attitude. The lack of structure and rules in heavy metal music is often seen as a form of artistic expression, but it may also lead to chaos and disorganization. "Go with the flow" culture - Jazz group A "go with the flow" culture is characterized by a sense of fluidity and adaptability. In a "go with the flow" culture, employees are encouraged to be flexible and open to change, and there is a sense of collaboration and cooperation among team members. A jazz group provides a good metaphor for this type of culture, as jazz musicians often improvise and build on one another's ideas, creating a dynamic and evolving sound. In a "go with the flow" culture, employees are empowered to take ownership of their work, and are encouraged to experiment and take risks. This can lead to a sense of excitement and innovation, as employees work together to explore new ideas and approaches. However, without clear guidelines and procedures, a "go with the flow" culture can also be unpredictable, and may require strong leadership to ensure that everyone stays aligned with the organization's goals. In conclusion, understanding the culture of an organization is crucial to its success. Culture is the way business gets done, and it shapes everything from how employees collaborate to how they approach problem-solving and decision-making. It is important to recognize that there is no "correct" culture, and that what works for one organization may not work for another. However, it is also important to ensure that the culture is aligned with the organization's strategic goals, and that employees are recruited based on how well they fit with the culture. Hiring the wrong employee can spell disaster for an organization, particularly if the employee does not match the established culture. While it may be tempting to shake things up by hiring someone who is radically different from the rest of the team, this can lead to conflict and dysfunction. Instead, future employee recruitment should focus on finding candidates who are a good fit with the culture, and who share the organization's values and goals. Ultimately, a strong culture is a competitive advantage for any organization. It creates a sense of unity and purpose among employees, and can help to attract and retain top talent. By understanding and nurturing the culture of the organization, business leaders can create a thriving and successful enterprise that is built to last. Connect with me! I'm Jim Lindell of Thorsten Consulting. If your organization or association needs a speaker for a keynote or breakout session on practical business topics, please call me. In addition, if you or your team needs executive coaching or leadership development, I can help your staff reach a higher level. Please give me a call. Thank you for your time. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Friday, February 24. 2023
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Business - Insights from NatureNature can provide businesses with valuable insights. Nature’s complex systems and adaptive strategies can be used to inform decision-making and identify new opportunities. By studying the strategies used in nature, businesses can gain valuable lessons that can be applied to their operations. First, let’s consider Meerkats. A group of meerkats stand up and look around to protect themselves from predators. They are constantly on alert and use the power of their collective vigilance to remain safe. This is an example of a reactive outlook, where a response is made based on external stimuli. The strategic outlook of a company is very different. Companies look ahead to anticipate changes in the market, identify opportunities, and make proactive decisions to optimize their operations. Companies use a range of analytical tools to assess their competitive environment and make decisions that will secure their competitive advantage. This type of outlook is proactive, rather than reactive, as it attempts to anticipate potential threats and capitalize on emerging trends. The two outlooks are very different, but both are important for survival. Meerkats must remain alert to protect themselves from predators, while companies must be forward-looking in order to remain competitive. Both outlooks require a certain level of vigilance and awareness in order to be successful. Second, let’s marvel at the Eagle. An eagle has great vision which allows it to spot fish in the water from high altitudes. The eagle uses its keen eyesight to quickly identify potential prey and swoop in for the kill. This type of vision is based on instinct and is reactive, responding to external stimuli. A business also needs great vision, but in a different sense. Companies must look ahead to anticipate changes in the market, identify opportunities, and make proactive decisions to optimize their operations. Companies use a range of analytical tools to assess their competitive environment and make decisions that will secure their competitive advantage. This type of vision is proactive, rather than reactive, as it attempts to anticipate potential threats and capitalize on emerging trends. The two types of vision are very different, but both are important for success. Eagles need sharp vision to spot prey, while businesses need to be able to anticipate changes in order to remain competitive. Both require a level of awareness and insight to be successful. Finally, consider Ducks and Geese. Ducks and geese fly in formation to reduce the effort for those farther back. By flying close together and in a V-shaped pattern, the birds can take advantage of the air currents created by the front birds, reducing the effort and energy required for the journey. This type of teamwork is instinctive and reactive, responding to external stimuli. Business teams also help one another out, but in a different way. Companies rely on their employees to work together and share knowledge to increase efficiency and productivity. This type of teamwork is proactive, rather than reactive, as it encourages collaboration and knowledge-sharing to achieve a common goal. The two types of teamwork are very different, but both are essential for success. Ducks and geese must work together in the air to reduce their collective effort, while business teams must cooperate to reach their objectives. Both require a level of cooperation and collaboration to be successful. Connect with me My name is Jim Lindell. I'm a CSP-certified speaking professional and an executive coach, and I have been doing both for the last couple of decades. Please contact me if your conference needs an entertaining, practical business speaker for keynotes or breakout sessions. If you'd like to see your career grow, please talk to me about being your executive coach. Email: [email protected] LinkedIn: https://www.linkedin.com/in/jimlindell/ Twitter: https://twitter.com/thorlessons Thursday, August 13. 2015Left Handed People are DisadvantagedCoaching Relationship - Thorsten Consulting Group, Inc. ©2015 During the 1950s and 1960s, being left handed was seen as a disadvantage. Great efforts were taken by teachers and parents to train students to use their right hand as opposed to their left hand for writing. As a consequence, many kids were forced to focus on hand writing techniques as opposed to learning techniques. Unfortunately, many managers and coaches still try to force “left handed people to work as if they were right handed.” This metaphor illustrates how people are trained with specific techniques that may not be effective for that individual. Well-meaning coaches and managers may be too narrow in their approach to training or philosophy about business. Unfortunately, their technique or approach may be in conflict with the skills, intelligence or personality type of the individual being trained, managed or coached. There is a significant danger when the coaching or training approach is “one size fits all.” Let’s consider this example as it applies to the role of a coach and their respective student, customer or employee. Since coaching focuses on the coachee, let us begin with the left side of the diagram representing the individual that is to receive the coaching service, counsel or advice. There are three main levels of coaching services that an individual can receive: In essence, these three levels represent the “needs” of an individual that is to be coached. The right side of the graph represents the coach’s role. Note that there are two extremely significant principles that apply to a coach. The first is that a coach cannot allow their self-interest to get in the way of helping another individual. The second principle is that the coach should foster independence in the individual as opposed to dependence. Unless an individual is seeking a long-term learning relationship, most coaching assignments should have a specific task with a specific timeframe. The only type of ongoing coaching relationship should be a life-long learning relationship. Beware of the coach that is hired for a short term need who insists on a long-term relationship. The coach may be putting their self-interest ahead of the needs of the individual. There are many skills a coach should possess including: Now we can reconsider the comparison of left handed and right handed people. A coach that only uses one approach without recognizing the limitations of that approach is not serving his customers well. Failing to understand the needs and styles of the individual being coached typically leads to short and unfulfilled coaching relationships. One of the main reasons coaching assignments do not work out well is that the coachee and the coach are not compatible. A successful coach will be flexible and capable of working in a variety of styles. The greatest of coaches will exhibit the most flexibility in working with a variety of people. Therefore, it is important for coaches to evaluate personality types and intelligence types to determine how their skills must be altered to bring out the best in the individual. About the Author: Jim Lindell, CPA, CSP, CGMA is a best-selling author and speaker. Jim is a TEC Chairman (The Executive Committee), which is the Granddaddy of CEO coaching organizations and with its’ Vistage Affiliation is the World’s largest peer group for CEOs and Senior Executives. Jim has been Coaching CEOs through TEC since 2001. His website is www.thorstenconsulting.com. Jim’s latest book, “Controller as Business Manager” is available from the AICPA at http://bit.ly/1zGOYmz. Tuesday, March 31. 2015Teamwork and Sports ExamplesPlatteville Scrum - photo by Greg Anderson The history of the term “team” has its roots in Germany and England. Originally it applied to a “team of draft horses” or to “lineage or race.” The latter no longer is used, but the former meaning evolved into its main usage today for sports teams. It is worth noting that some of the synonyms of team are: army, band, brigade, company, crew, outfit, party, platoon, squad and gang. If an employee does not enjoy being a part of the “team,” maybe they would prefer being part of a “party” or “gang.” Typically, participation in sporting events is voluntary. However, in the work world, many of the team synonyms suggest participation is involuntary. Some employees may never appreciate sports examples. Instead of dismissing sports analogies, an employee should interpret and utilize the lesson from their perspective. Teamwork 4 legged race - image by presentermedia Jim Lindell is the author of “Controller as Business Manager” by the AICPA http://bit.ly/1zGOYmz . He is an Award Winning Speaker and Best Selling Author. In addition, Jim is a TEC Chairman for two groups in SE Wisconsin (TEC/Vistage is the world’s largest peer group of CEOs and Executives) ©2015 Jim Lindell
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Jim LindellJim Lindell is a National Speaker, Author, and Vistage Chair. He is motivated by helping others improve their lives and businesses.
He is President of Thorsten Consulting Group, Inc. Order Jim's book - "Controller as Business Manager". controller as business manager - jim lindell - thorsten consulting group QuicksearchCategoriesSyndicate This BlogBlog AdministrationNetworked Blogs |