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The economic backbone of any regional city is held together by our senior business owners.

27/4/2020

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Our seniors in business are a forgotten segment of our business community in the current COVID-19 crisis.
There are thousands in the workplace over 60 and many are family business owners. Especially the baby boomers who still own and lead most of our successful privately owned companies, often in partnership with their next generation members. They have an abundance of wisdom that is backed by knowledge, experience and a real life understanding of the roller coaster ride over the years since 1960.
This current crisis, although extremely serious is not not the first time they have faced an unknown economic future. Senior business owners are more resilient than most and pragmatic about adjusting to meet today's needs.
I have been in their shoes on a couple of occasions and it hurts. One of the hardest issues they face is having to put loyal and long term staff off.
So, listen to them and don't ignore why they are sometimes cautious. They are great mentors and in today's terminology are Wise Coaches. They have walked in the shoes of many before them and not learnt their craft from a manual or attending a seminar.

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Wisdom from Peter Drucker

19/4/2020

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I wonder what Peter Drucker would say about the current situation we are facing in our businesses. One thing I know is that he would be looking forward and not backward. We cannot change what has already happened. However, we can embrace lifelong learning and identify if we need to reinvent ourselves. First understand how you can add value to others. Only then will you have clients who will engage you or your company to grow beyond survival.

Many are talking about a new normal. There will be no more 'Normal' for many months and this current crisis is a catalyst for changing business models more frequently as consumer needs and buying habits keep evolving.

What ever you do, don't sit there wishing for how it was before. You must get your employees involved in how the business is going to operate in the future. They are the ones who are going to help you be successful, but first as a group you need to workout what you are aiming for.

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Engage your staff now to help you get ready for a restart

8/4/2020

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Insights into a successful family business who understand the importance of their core value of compassion when tough decision are required to protect the business. In this particular company, I have attended every board meeting as an external advisor for the last ten years and have experienced a roller coaster ride of various economic conditions.

We will be stronger after this year, mostly due to our core values, open communication, engaging staff at all levels and in the leadership group’s desire to own the solutions. The owners, with the feedback from the CEO and the key management group, are making decisions that are necessary to ensure survival and setting the business up for a strong recovery when we come out of the next six months. In fact, it’s the CEO and his leadership group who are the proactive group and putting forward the solutions to the board.

This is a positive example of owners letting an non-family member CEO lead without usurping his authority. The owners are genuinely concerned about the welfare and well-being of the 150 plus employees.

More importantly, they have faith in the capability of our CEO and his management team to engage everyone in any changes that may be implemented.

“We are all in this together” No one has a mortgage on smart ideas.

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The economic backbone of any regional city is held together by our senior business owners.

Wisdom from Peter Drucker

Engage your staff now to help you get ready for a restart

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