Business Tip Tuesday 🚀

Succession in leadership takes time and is critical for success—a goal for every organization, especially a family business. Leadership is not for everyone and not a birthright either. When considering succession, whether in a family business or not, certain qualities must be considered for success.

As a business leader, you must know when to hold, fold, pivot, or stick it out. Setting business goals is part of forecasting, educated guessing, elevating, and adapting. Believe it or not, most do not establish new business goals for the team to rally behind. It's astonishing!

Hi, I’m Janese! I’m a student at Syracuse University and have been an intern for Jeff Rogers for the past several months now, and let me tell you, it’s been nothing short of exciting! I’ve gotten the chance to delve into topics like engagement, blindspots, learn about all the leadership development series offerings, and above all, be super hands-on with the JRCI team!

Although this is different from the Business Tip Tuesdays that you've come to expect each week, today’s article (written by me!) is still aimed to share a valuable perspective of what I've been able to learn from the Jeff Rogers Coach team about prioritization!

To set effective goals, business leaders must have a handle on their Traditional business resources. Business resources include human, financial, and physical resources. A resource can be identified as anything required to achieve a business goal. Understanding how you utilize these resources directly affects organizational performance, production, engagement, and profitability.

Let's start with one very important thought that everyone leading a family business should consider:

Transferring ownership of a small family business requires strategic vision!

Developing a Sustainability and Strategic Vision for Your Family Business entails constructing a picture of your desired future; having a vision is having the Ability to think about, imagine, or plan for the desired future.

Why Goal Setting Matters

A goal-setting study sponsored by the Ford Foundation found that:

• 23% of the population has NO IDEA what they want from life & as a result, they float around aimlessly.
• 67% of the population has a general idea of what they want but don’t have any plans for getting it.
• Only 10% of the population has specific, well-defined goals, but even then, 7 out of 10 of those people reach their goals only half (50%) of the time.
• The top 3% of the people in the study achieved their goals 89% of the time.

• What was the difference?  They found that of all the possible variables, the only difference between the top performers and the rest was that the top 3% WROTE DOWN THEIR GOALS.

Where are you going? Do you know, does your team know? Do your customers know? Without Vision, everyone blows aimlessly in the wind—rudderless in turbulent water. To me, it starts with personal Vision.

As an executive leader, your personal vision statement must align with the corporate organizational vision statement at the personal level.

Without alignment, how can an executive drive organizational vision? If the personal Vision is not in alignment from the start, how can there be success? The dilemma is that most corporate executives and small business owners do not have a clearly defined personal vision, let alone a written vision Statement – I think you know where we are going by now!

Throughout my journey, I've come to understand the concept of "coulda, shoulda, and woulda," and I'm certain you have too. Have you ever caught yourself uttering these words?

"If only I could do this, I really should be doing that, I would do it if only…blah, blah, blah!"