Training

When 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

Hiring can be a complex and time-consuming process. From posting job ads and reviewing resumes to conducting interviews and negotiating offers, many steps are involved in finding the right candidate for a position. However, one area often overlooked in the hiring process is reducing ambiguity in the offer letter. When extending or accepting an offer, it is essential to document all of the critical terms and conditions of the employment relationship. This includes the salary, benefits, job title, and any important items that could affect the candidate's decision to accept the offer or the employer's ability to fulfill its obligations.

The job description is one of the most significant sources of ambiguity in hiring. While a job description may outline a position's general duties and responsibilities, it may not cover all of the specific details that are important to the candidate or the employer. For example, a job description may not specify whether a position requires travel, overtime, or a certain level of education or experience. Without this information, candidates may accept an offer without realizing the full scope of the job, or employers may find themselves unable to fulfill their obligations due to a lack of clarity.

To avoid ambiguity, include all relevant details in the offer letter. This can consist of specific job duties, required qualifications, work schedules, and other essential items that could affect the candidate's decision to accept the offer or the employer's ability to fulfill its obligations. By documenting these details in the offer letter, both parties can clearly understand what is expected and avoid any misunderstandings or disputes down the line. Another area where ambiguity can arise is in the terms and conditions of employment. Include items such as the length of the probationary period, the process for performance evaluations, and the conditions under which the employer can terminate the employee. These details can vary depending on the company and the position, so documenting them in the offer letter is essential.

By doing so, employers can ensure that they comply with all relevant laws and regulations, and employees can clearly understand their rights and responsibilities, avoiding disputes or legal issues that could arise down the line. In addition to reducing ambiguity, documenting essential items in the offer letter can help build trust and establish a positive relationship between the employer and the employee. By clearly communicating all of employment's critical terms and conditions, employers can demonstrate their commitment to transparency and fairness, and employees can feel confident that they are making an informed decision. Reducing ambiguity in hiring is crucial for both employers and employees. By documenting all of the critical terms and conditions of employment in the offer letter, both parties can clearly understand what is expected. They can avoid any misunderstandings or disputes down the line: build trust, establish a positive relationship, and ensure that the employment relationship is successful and productive for everyone involved.


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

Soft skills, which include emotional intelligence (EI), are becoming increasingly important in the workplace. For accountants, soft skills can be just as important as technical skills, as they help build strong relationships with clients, coworkers, and other stakeholders. Emotional intelligence, in particular, is essential for accountants to succeed in their roles.

There are five categories of emotional intelligence that are particularly important for accountants:

Self-awareness: Accountants with strong self-awareness understand their own strengths and weaknesses, and are better able to recognize and manage their own emotions. This helps them make better decisions, communicate more effectively, and build stronger relationships with others.

Self-regulation: Accountants who are able to regulate their own emotions are better equipped to handle stressful situations and maintain their composure under pressure. This can help them stay focused on their work and avoid making mistakes.

Motivation: Accountants who are motivated to succeed are more likely to set and achieve goals, take initiative, and be proactive in their work. This can lead to greater job satisfaction and a sense of fulfillment in their careers.

Empathy: Accountants who are empathetic are better able to understand the needs and perspectives of their clients and coworkers. This can help build trust and rapport, leading to stronger relationships and better outcomes.

Social skills: Accountants with strong social skills are effective communicators, able to build rapport, influence others, and resolve conflicts. This can help them work effectively in teams, manage client relationships, and collaborate with stakeholders across the organization.

In summary, emotional intelligence is critical for accountants because it helps them build strong relationships with clients, coworkers, and other stakeholders. By developing self-awareness, self-regulation, motivation, empathy, and social skills, accountants can become more effective and successful in their roles.


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

Leading a successful business planning retreat can help an organization set a clear direction, establish priorities, and develop a plan to achieve its goals. Here are some steps to follow when planning and conducting a successful business planning retreat:

1. Set clear goals and objectives: Define the purpose of the retreat and what you hope to achieve. Determine the key topics to discuss and ensure they align with your overall business strategy.
2. Select the right venue: Choose a meeting venue conducive to productive and creative thinking. Ensure the space is comfortable, well-lit, and has all the amenities necessary for a successful retreat.
3. Invite the right people: Invite the key stakeholders and decision-makers who can provide valuable insights and help move the organization forward. Ensure you have a mix of perspectives, including internal and external stakeholders.
4. Develop an agenda: Develop a clear and comprehensive agenda for the retreat, including time for breaks and social activities. Make sure the agenda aligns with your goals and objectives.
5. Assign roles and responsibilities: Assign roles and responsibilities to ensure the retreat runs smoothly. Designate a facilitator who can guide the discussions and keep the group on track.
6. Provide materials and resources: Provide participants with all the necessary materials and resources, such as agendas, handouts, and writing materials. Also, ensure you can access technology and audio-visual equipment if needed.
7. Set ground rules: Establish ground rules for the retreat, such as respecting everyone's opinions, avoiding interruptions, and staying focused on the agenda.
8. Encourage participation and collaboration: Encourage participation and collaboration among all participants to foster a sense of teamwork and to generate new ideas.
9. Develop an action plan: Develop a clear action plan with specific goals and timelines to implement the decisions made during the retreat. Make sure to assign responsibilities for each action item.
10. Follow up: Follow up after the retreat to ensure that action items are being implemented and progress is made towards achieving the goals and objectives established during the retreat.

Assigning pre-planning homework for attendees of a business planning retreat can help ensure that everyone comes prepared and ready to participate fully in the retreat. Here are some types of pre-planning homework that can be assigned:

1. Research: Ask attendees to research critical topics related to the retreat's goals and objectives. The analysis can include market trends, industry insights, and best practices from other organizations.
2. SWOT analysis: Request that attendees conduct a SWOT (strengths, weaknesses, opportunities, threats) analysis of the organization or a particular aspect of the business. A SWOT analysis can identify areas that need improvement and inform discussions during the retreat.
3. Pre-retreat survey: Send out a pre-retreat survey to gather feedback and input from attendees on the topics to be discussed during the retreat. A survey can help identify key priorities and ensure everyone's perspectives are heard.
4. Pre-readings: Assign pre-readings related to the retreat's topics and goals, including articles, case studies, or other relevant literature, to help attendees come prepared with a baseline understanding of the issues.
5. Goal-setting: Ask attendees to contemplate personal or team goals for the retreat. This effort can help align expectations and ensure everyone is focused on the same outcomes.
6. Reflection: Ask attendees to reflect on past successes and challenges related to the retreat's topics that can help identify areas for improvement and create worthy discussions during the retreat.

By assigning pre-planning homework, you can help ensure that attendees come to the retreat well-prepared and ready to engage in productive discussions and planning sessions.

An outside facilitator can be helpful when conducting business planning for several reasons:

1. Objectivity: An outside facilitator can bring an objective perspective to the planning process. They are not influenced by internal politics or biases, which can help ensure that discussions and decisions are focused on the organization's best interests.
2. Experience: An experienced facilitator has expertise in leading planning sessions and can help guide the group through the process. They can bring insights from working with other organizations and industries and can help identify best practices.
3. Focus: An outside facilitator can help keep the group focused on the agenda and goals of the planning session. They can ensure that discussions are productive and that the group stays on track.
4. Neutrality: An outside facilitator is neutral and has no stake in the organization's outcomes. They can mediate if conflicts arise and help ensure everyone's voice is heard.
5. Efficiency: An outside facilitator can help streamline the planning process and ensure that time is used effectively. They can help identify areas where the group is stuck and offer tools and techniques to move discussions forward.

Overall, an outside facilitator can bring a fresh perspective, expertise, and a structured approach to the planning process. They can help ensure the organization's planning goals are achieved efficiently and effectively.


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

How can we make “Better Mistakes Tomorrow? Using a simple 5-step approach, our mistakes become fantastic platforms for growth. Yes they may be painful, but in the long run there is wisdom, knowledge and growth in our mistakes.

Registration is Open! Please join me on December 28 for your Year-end CPE. Please visit https://thorstenconsulting.com/webcasts to Register. Year-end CPE for CPAs, Controllers, CFOs, Accountants, Accounting Professionals "Controller/CFO Strategic Outlook-2023," or "Data and Predictive Analytics / Business Intelligence." You can also register for both at the same time.

Where do you find excellent on-line continuing education? Go no further than ACPEN. Participate in an on-line program with Jim Lindell of Thorsten Consulting and enjoy practical, relevant insights to improve your business and your career! Check out the courses available right now https://thorstenconsultinggroupinc.acpen.com/