In This Issue
- OneAccord Adds Recruiting Services
- Meet Our New Principals: Mike Moroney and Dan Little
- What a Succession Plan Is — and Isn't
- Carolyne Simi on the Warning Signs of an Unstable Business
- More resources for Busy Business Leaders
We are excited to announce that we have expanded our service offering to include recruiting services. Now, whether you're a business owner looking for the right person for the job or an executive searching for the right opportunity, we can help.
The people you hire have a tremendous impact on the success of your business. Your growth as a company and eventual ability to exit will depend on having the right people in the right seats on the bus, but the process of hiring can be long, painful and doesn't come with any guarantees. This is where OneAccord can help.
Our full-service, tailored recruiting services take the pain and guesswork out of hiring top talent. Hiring happens in half the time of the typical search and 98.7 percent of hires remain in their position for more than a year — typically more than two.
Mike is a lifelong resident of the Seattle area. He spent the first 18 years of his professional career in commercial and investment banking with Rainier Bank and Bank of America, working with middle-market companies headquartered in the Pacific Northwest.
Over the last 20 years, Mike has led privately held companies in a variety of industries. In each role, he had full P&L responsibility and led all aspects of the business, including sales and marketing, production, personnel development and financial controls.
Mike's practice focus includes executive coaching, financial strategies, turnarounds, manufacturing and construction.
Throughout his career, Dan has focused on improving manufacturing and operational performance, primarily in the consumer products and retail industries. He is skilled at identifying opportunities and implementing organizational change and alignment to achieve results, and possesses expertise in manufacturing, global supply chain management and retail operations.
Dan's career began at Boeing Electronics as a manufacturing engineer and his subsequent experience includes operations analysis and factory operations in the consumer products industry.
Dan's practice focus includes manufacturing, supply chain, optimization, retail and consumer products.
By John Kaminski, OneAccord Principal
Business owners concerned about the legacy of their company need a succession plan. For many, the plan is to sell the company someday, which reasonable — but this is not a succession plan.
Assuming you want the maximum value for your company when you sell, do you realize your company is worth more without you in it? Buyers want to know the business will continue to perform after you are gone. Owner dependency is a major factor in business valuation.
Can you take a month off and feel comfortable that your business will perform as expected? Can you do that more than once a year? If so, it’s a pretty safe bet that you won’t take a dependency haircut on valuation.
Now some of you are having that OMG moment where you realize you now have to bet the farm by letting somebody else run the business or risk a lower valuation when selling. The truth is that there is another, safer way.
Rather than searching, hoping you find the right person and handing over the reins, a better solution is to identify the things that are your responsibility and craft a plan to train others to take them on so you can delegate as much as possible.
It may take a year or two to develop the team and structure that allows you as the owner to step into a part-time, strategic leadership role. And if there are other individuals that the business is reliant on, you should build redundancy into those roles as well. You’ll end up working less and making more in the long run.
This is succession planning — and there are very few things you can do that will add greater value to your business.
Is Your Business a House of Cards?
By Carolyne Simi, Guest Author
Picture this: Your business has its ups and downs, but for the most part it’s going along okay.
The trouble is, your employees are always coming to you to solve their production problems and never seem to learn from their mistakes. You’d think they’d figure it out at some point. It bothers you that they come in late, want to take off early and those sick days are on the rise, which throws everything into a bunch. They don’t seem to care whether your business does well or not. You dream of taking your business to the next level but there’s no time for that with all the fires you have to put out for them every day.
And then one morning two of your staff blushingly announce they’re eloping and moving to New York City to start new jobs.
What? You gasp. Eloping? Leaving?? What?!
These two have been with you the longest. The amount of knowledge they have in their respective heads is staggering, and none of it is written down. No one else on the staff comes close to having their experience. What on earth will you do now?
Documenting and Cross-Training
This type of situation happens every single day in seemingly healthy companies all across the globe. Business owners have a tendency to significantly under-value the importance of not only documenting procedures but making them an integral part of the daily process and ensuring cross-training is the norm. They might know intellectually that structure is important, but as the saying goes, if it ain’t broke, don’t fix it — until something like this happens and it’s too late to fix it.
Interested in contributing to OneAccord? Contact our content team.
|Long-Sight in a Short-, Fore- and Hind-Sighted World||Breaking Down the Growth Mystique: Strategic Steps to Growth||Out of Sight, Out of Luck: Do Clients Think You Phoned it In?|
By Mark L. Vincent
By John Steckler
By Ann Amati
In a world where hindsight is undervalued, foresight is overestimated, and near-term reactions seem to be winning the day, long-sightedness is barely in evidence. Long-sightedness is wisdom’s domain, so it is not difficult to imagine what happens when a long-sighted perspective is not in the conversation.
There are numerous opportunities for business leaders to create growth, but too many mistakenly believe sales are the one and only engine driving growth. Sales is an important part of a company's growth, but it is one that a.) takes time, and b.) is far from being the only driver. It's important to review every opportunity.
As managers, we don’t tolerate employees who phone it in. However, have we set up the systems in our organizations to be so automated and so low-touch that customers experience our companies as having phoned it in? If so, we are actively creating opportunities for our competitors.