I keep meeting family businesses and SMEs that seem to be stuck in some sort of time warp. The reality around them has changed but they did not. Then they act surprised as to why clients are not flocking to them as they once did. Every interaction between a company and a customer is an …
Author: Silvan Mifsud
Lead by Listening
More than talking, listening is of paramount importance when leading. Moreover, when uncertainty is high, knowing where you stand — and learning about your mistakes while there’s still time to fix them — is more important than ever. To be able to adapt to changing conditions and ensure that your team continues to feel supported …
We need Women to Lead
The business environment is materially changing from the economics of the ‘80s and ‘90s and the 20th century. The fundamentals of accepted business practice was based on competition, which then influenced business vision, strategy and decision-making. Businesses were built like machines with various silos each fulfilling its own function. The change brought about in the …
To Delegate or Micromanage?
I see many business owners or business leaders who find it hard achieving a balance between micromanaging everything and delegating effectively. I many times see alot of extremes. I see business owners wanting to be in control of everything or else they just put their people at the deep end, with little or no support. …
The Need to Persuade
As I keep repeating, businesses need to find time to develop a business strategy. At the end of the day a business strategy is merely a tool to achieve competitive advantage. It requires a thorough understanding of the company’s starting position, its aspirations and capabilities, those of its competitors, the needs of its customers and …
Banks – better to love them, than hate them….
After grumbling about the under performance of various employees, many family business owners, often grumble with me about banks. Some grumbling may be justified, especially with regards some fees that seem unjustified. However many family business owners speak to me nostalgically about the days when getting an overdraft or a bank loan was an easy …
Continue reading Banks – better to love them, than hate them….
Stop Destroying Value
In any typical working day, I am constantly meeting different family businesses. I like hearing the challenges they face. Over time I developed a well trained ear to distinguish between cause and effect of what they are speaking to me about. I can see how much help they need and I meticulously jot down notes …
Addressing Under Performance
It seems that last week I hit a nerve with my Blog Article "You set the Culture". It seems a vast amount of business owners are facing performance & attitude issues with their employees and team members and many seem at a loss as how to address such issues. Every business needs not only a …
You set the culture….
Many times I feel like I am on a loop. Each family business I visit keeps telling me the same things. They keep repeating the huge problems they have with staff and their attitudes and their production levels.....and I keep repeating the same thing. In general staff respond to the culture you create in your …
Why is Succession Planning so difficult?
Last week, during the Family Business Seminar organised by the Family Business Committee within the Malta Chamber, it was abundantly clear that the vast majority of family businesses do not have a written succession plan. Why is this so? Well, like always in life there are a number of reasons for this, which I feel, …
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