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 …
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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, …
Thank You!
I wanted to thank you, for your presence during the event held for family businesses on Wednesday 1st February. I hope that all of you that attended, found the event as being insightful and inspiring. I am reproducing below the speech I delivered during the presentation of the survey results:- You can consider this as …
Transforming Family Businesses
Family businesses share two things in common – they come from entrepreneurial roots and have a long-term orientation. However,an increasingly volatile business environment is putting them to the test. Today’s family firms have to deal with multiple challenges in a rapidly changing business landscape. Above all these challenges is the spectre of succession which always …
Are the younger generation really that difficult?
Last week I attended an interesting day seminar, where the subject of younger employees (Gen Z born from approximately from 1995 onwards) was brought up. Some believe that they are difficult to handle as they are not used to being given orders and they just have them executed without asking questions. However, I wonder if …
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Customer Priorities ARE Changing
Customers' priorities are changing...fast. This means that businesses need to identify new and different strategies that can help it navigate their customers’ shifting priorities. Global research is indicating various trends as to how customers are likely to be shifting their priorities, I will list some of them below:- More and more customers are interested on …
A Business Blog for SMEs & Family Businesses 