In this episode, Mitchell Levy, Chief Aha Instigator of the Aha Amplifier (http://AhaAmplifier.com), with his co-host for the month, #ThoughtLeader Stacy Feiner, Psy. D., Business Psychologist & Executive Coach for the Middle Market, sits down with #ThoughtLeader Keven Prather, Certified Family Business Specialist (CFBS) of Skylight Financial Group, to discuss the culture present in every company and how it affects the transition process.
Given that culture in companies can take years to develop, is it still alive despite today’s fast-paced life and is it still relevant? Though we live in a world that is changing rapidly, culture is still very much alive and is in fact one of the most critical aspects of what we encounter.Often, it defines whether or not companies will be successful or unsuccessful in the long term. Aside from having a culture, companies also have a personality, which is important.
In fact, all companies have their own set of mores, norms, and expectations. Culture is made up of a number of things: values, beliefs, intentions, and many other aspects that are not spoken.
Keven talks about breaking through existing company culture. You have to create an environment that’s level-setting. Begin by revealing a part of yourself or telling funny stories. This levels the playing field and creates an environment.
One of the biggest obstacles is working with other specialists and working as a team to be able to effectively help the client. There’s this idea of “quarterbacking,” where a team of experts helps a business owner think of all the different components to successfully transition a business.
Another key factor to a successful transition is making sure there is no disconnect in terms of understanding the company. You have to establish that the owners and employees’ perception of the situation is the same. According to Keven, “If you don’t have everybody working and headed in the same direction, the transition is going to be likely unsuccessful.”
Companies going through transition do not have an easy task.But business owners don’t need to do this alone. There are resources and experts who can help them achieve a successful transition.
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Here are a couple of AhaMessages from the episode. See more in the “Aha Moments from Thought Leader Life” eBooks available in the social media-enabled eBook platform, Aha Amplifier: http://AhaAmplifier.com/.
• Each company has its own culture, its own mores, its own norms& its own set of expectations. @StacyFeiner
• Our goal is to get at the truth of what the owner really wants to accomplish. @SkylightFG #TLL
• Quarterbacking: Experts helping a business owner think of different components to successfully transition a business. @StacyFeiner #TLL
• If you don’t have everybody working and headed in the same direction, the transition will likely be unsuccessful. @SkylightFG #TLL