Succession: Transitioning Business Leadership

“Who is going to run my business after me?”

If you are like many business owners, you may be thinking about transitioning business leadership. You have this baby that you’ve created–who is going to care for it once you’ve stepped down? You may be planning to transition leadership to somebody in your family or someone who currently works in the business. Are they going to drop the baton? Are they going to grow the business? Let it stagnate? Die? How involved do I want to be once the transition has occurred? These are questions that swirl around in business owner’s minds and rightfully so.   [Read more…]

Setting Expectations With Clients

It is easy to get caught up in closing a potential client. But in the process, you may inadvertently set unrealistic expectations that will cause issues throughout your relationship with that client. If you do not meet your clients’ expectations, they will not be satisfied even if you do great work. Getting on the same page with potential customers is a critical step in the closing process.

Here are 2 things to keep in mind when setting expectations with clients:

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Preparing for an Economic Downturn

Are you financially prepared for an economic downturn? The business cycle is called a cycle for a reason–highs and lows are normal and expected. I hope we aren’t going to talk ourselves into a recession. But clearly, we won’t continue with the sort of GDP growth that we’ve enjoyed over the last decade. Success certainly should never lead to complacency. So how can you as a business owner or leader make sure you are preparing for a potential downturn in the future? Here are 4 questions to consider when preparing for an economic downturn: [Read more…]

End of the Year: Reflection and Anticipation

Reflecting on 2018

Every December, we get the privilege of looking back over the past 12 months–reflecting on the past—-and the opportunity to look forward to the next 12 months—-planning for the future. I think that the natural course of things is intentional. In order to be balanced, wise people, we need time to pause and take stock.

As I think back on 2018, I would say that it’s been a transitional year for my wife and me. On the business front, 2018 has been a prosperous year, and we are grateful for that. On a personal level, I lost both my father-in-law (in March) and my father (in November). They were two great men who shaped my life and my family so much. In August, we gained a beautiful granddaughter. So 2018 has definitely been a year full of transitions and shifts for our family, as well as for Broad Insights as a company.

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Is Coaching Worth It?

Coaching works. That’s the secret of the performance elite–people performing at the top of their game, whatever that game is. The world’s top performers, from athletes to entrepreneurs to executives, all have coaches. For them, the benefits of coaching are obvious.

 

Coaching benefits for your business

But will coaching work for you? Is it worth the time, effort, and expense? [Read more…]

Having the Right Tools

I was up at my lake house recently, looking forward to a very quiet early morning cup of coffee. I like to put canned milk in my coffee, but I just could not find the can opener. Of all the simple things! I have this can opener that’s manual, just a little triangular opening thing that lets you open the can of milk and enjoy your coffee. But I couldn’t find it, and I didn’t want black coffee this morning. I was scrounging around for the thing, thinking, “Okay, do I puncture this can with a knife? What if it slips and I stab myself?” [Read more…]

Have You Planned Your Best 2019 Yet?

We are already into the 4th quarter of 2018! As business owners, most of us are already thinking about what to do better or differently in 2019. Many business owners have already cultivated the habit of setting aside time for reflecting and visioning. At Broad Insights, we applaud and encourage proactive patterns like that, and we want to encourage you to consider adding another level of intentionality to your planning. [Read more…]