You are not in business if you are self employed

31 August 2011 Leave a comment

This is a tough pill for many start-up entrepreneurs to swallow.  But if the business still relies on your input of time and expertise, then it’s not yet a ‘system of work’ that can be sold without you, and therefore it’s not yet a ‘business’.  Until you make yourself redundant, the market value of your enterprise will be severely impaired.

Do you really think that no-one else could actually be a better leader and manager than you?  Maybe if you formed a Board, you and they could focus ON your business while another more qualified to ‘manage’ takes care of operational matters?

From the first day you started your business you’ve grown it by successively replacing yourself with people who took over aspects of your responsibilities up to then.  From an executive assistant to a bookkeeper to a sales person, and so on.  And it’s very likely that each now does a better job in that role than you ever would have.  It’s the same with the ‘top job’.

Issues surrounding the reluctance of founders to ‘hand over the reins’ are well described in an article entitled ‘Time to let baby go‘ which appeared in BRW, 10-16 March 2011 edition, pp 40-41.  But you’re not really ‘letting go’.  You’re taking your business forward.

If you have any concerns about how to recruit and select a suitable person to be your new General Manager or CEO, consider the services of CEOselect.

Filed under Business, Directorship, Entrepreneurship, Equity, Leadership, Management, Organisation, Performance, Personal, Planning, Recruitment, Strategy, Systems Tagged with , , , , , , , , , , , ,

Are you still flying South?

30 August 2011 Leave a comment

5 birds are sitting on a telephone wire.  2 decide to fly South.  How many are left?

If your answer is 3, you may want to take another look, because in all likelihood there are still 5 sitting on that wire.

You see, deciding to fly simply isn’t the same as doing it.

If a bird (that would be you) really wants to go somewhere, it’s got to point itself in the right direction, jump off the wire, flap its wings and keep flapping until it gets there. So it is with most things. Good intentions aren’t enough.  It’s not what we want, say, or think that makes things happen; it’s what we do.

Thanks to Jurek Leon of www.TerrificTrading.com for pointing this out in one of his eNewsletters.  Like me, you already knew this; but a reminder may be timely.

And the more important question remains …what can be done to convert decisions into action, for ourselves and for those we lead?

So if you’re still sitting on that wire, or you’re ‘in a flap’ but not getting anywhere; and would like some assistance to get yourself and/or your business to a better place; I suggest you register for the next information session I’m hosting for business owners, CEOs, MDs and GMs.

Filed under Business, Coaching, Events, Performance, Personal, Productivity, Training Tagged with , , , , , ,

Mobile technology goes organic

29 August 2011 Leave a comment

For those of us who have become just a little to ‘invested’ in our mobile devices …

… with thanks to Gary Bertwistle of www.garybertwistle.com for showing me this.

Filed under Personal, Technology Tagged with ,

Are people really your greatest asset?

28 August 2011 Leave a comment

The Human Capital Edge: 21 People Management Practices Your Company Must Implement (Or Avoid) To Maximize Shareholder Value (2009) by Bruce Pfau and Ira Kay, includes details of Watson Wyatt’s Human Capital Index (HCI) which identifies practices that drive a 47% increase in shareholder returns and prove that there is a cause and affect relationship between human capital management and financial outcomes.

The following explains the research and the critical findings, including a quantification of performance drivers. Read more of this post

Filed under Business, Directorship, Finance, Leadership, Management, Measurement, Organisation, Performance, Productivity, Recruitment, Strategy, Systems, Technology, Training Tagged with , , , , , , , , , , , , ,

Applying the 7 habits of highly effective people

28 August 2011 Leave a comment

Many have been profoundly assisted by the pages of Stephen Covey’s best seller ‘The 7 habits of highly effective people’.  But not all of the ‘habits’ are easily formed or perfected in us individually or in groups.  Crucial Conversations may provide a valuable addition to unlocking the benefits described in Stephen’s book.

Thanks to John Cluer for sharing this with me.

Filed under Business, Coaching, Directorship, Leadership, Management, Organisation, Performance, Personal, Productivity, Training Tagged with , , , , , , , , ,

12 key concepts from The Tipping Point, Blink and Outliers

28 August 2011 Leave a comment

Malcolm Gladwell’s first two bestsellers, ‘The Tipping Point’ and ‘Blink’, earned him a place on Time’s 2005 “Most Influential People” list; and with Outliers, the “10,000 Hour” theory made its way into the zeitgeist.  This quick series of slides summarises and illustrates 12 key concepts from his bestselling books.

Thanks to Simon O’Shaughnessy for showing me this.

Filed under Business, Leadership, Management, Marketing, Measurement, Organisation, Performance, Personal, Strategy Tagged with , , , , , , , ,

Be ready for new OHS laws

11 August 2011 Leave a comment

According to an article in The Boardroom Report, AICD, Volume 9, Issue 15 published on 10 Aug 2011, “employers with contingent workforces could be caught out by new health and safety laws unless they start preparing now“.

WorkPro director, Charles Cameron, says ”moves to harmonise occupational health and safety (OH&S) laws across Australia, effective from 1 January 2012, will bring significant changes for businesses engaging contractors or labour hire workers, known as ‘contingent’ staff.”

“The new law removes any discrimination between permanent direct-hire employees and contingent staff. The definition of the employer/employee relationship has been expanded to include ‘anyone conducting a business or undertaking’, and ‘anyone involved in the undertaking of work’.”

“These definition changes are important and increase the onus on businesses engaging workers to communicate, consult with, and respond to the safety concerns of ‘all workers’ on their sites, whether permanent, on-hired or outsourced.”

Cameron says this will present new challenges. “The way Australians are working today is different to any other time in history. Modern workplaces include a mix of ‘traditional’ permanent employees, as well as contractors, consultants and on-hired workers and businesses need to start thinking about their ‘total workforce’ rather than simply their own employees. With changes commencing in the new year, the challenge for businesses over the next six months is to start reviewing their current systems and procedures to ensure they meet the new requirements, and this will require more attention and consideration than most people anticipate.”

Cameron advises directors to consider the following ahead of the changes: Read more of this post

Filed under Business, Directorship, Management, Performance, Systems, Training Tagged with , , , , ,

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