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Edition 6 – Learning Las Vegas

I’ve just returned from a 2 Day Business Development Conference in Las Vegas hosted by Alan Weiss, universally acclaimed as the Million Dollar Consultant and attended by more than 40 other consultants and advisors from around the world.

Here’s some of the key learnings that I picked up from my time in Las Vegas.

  1. If not now, when?
    Often, Family Business owners have great ideas about their business. The ideas are many and varied. What can we do differently? How can we better serve our clients? What new products or services could we develop and release to the market.The key to working out whether or not those ideas will fly is by asking yourself, “if not now, when?” Can you do something with that idea right away that will have an immediate impact on your business?

    Too often, Family Business owners filter their ideas to the point where they end up as sawdust on the floor.. The day to day routine takes over and before you know it, you’re back doing what you’ve always done.

    The next time a great idea comes to mind in your Family Business, ask yourself “if not now, when?” You might be surprised what it leads to.

  2. Silence
    Global giant Amazon believe the thing their leaders need the most is silence. Amazon wants their executives to make informed decisions, to research issues and have time to ponder whether those decisions will generate the best result for the business and the client.In today’s business world, we are all bombarded by email, text messages, mobile phones, drop in appointments, impromptu meetings – you name it.

    But no silence!

    Why not consider slotting some silence time into your diary daily? Time to simply stop and think. You never know what ideas it may generate.

  3. The Web Plateau.
    Our children and grandchildren are a window onto the world of how technology is changing our lives.Most young people today are connecting with each other through Facebook and Instagram. Their parents are mostly keeping in touch via text message and email. Their grandparents most likely still rely on the home phone – and dare I say it, snail trail mail.

    There is a belief in the USA right now that the web has hit a plateau. It has reached as far as it can possibly reach. Any website presence cannot be static. It needs to be constantly changing and evolving. And, it needs to progress to being interactive.

  4. The “stretch” leads to success.
    In Las Vegas, one of my colleagues suggested the best things in life come out of the most difficult situations. The loss of a major client. The liquidation of a large debtor. Fire or flood and its impact on a business.Each of these are situations that we have observed amongst our Family Business clients. And, each of them have proven to be turning points in those Family Businesses. It strengthens the business. It emboldens the owners. The challenge has been set and overcome.

    The key for Family Businesses is to embrace the “stretch” events that arise, and take note of the changes that occur in your business. Often, they will be the defining moments in your Family Business.

This Week’s Tip

When was the last time you stepped outside your everyday life and immersed yourself in a completely different environment? Who did you meet? What did you learn? And, how much of that learning can you apply in your own Family Business.