Monday, October 29, 2007
Second career for Baby Boomers
If you were born after WW2, you belong to the generation of baby boomer. from 1950s to the 21st century, technology, medical, and host of advances happened. The increased in knowledge has been happening in break-neck speed. We've enjoyed the ride.
80 Million across America belonged to baby boomer generation are set to retire, or already have retired. I've just found out retirement management or retirement planning is becoming a hot topic.
If you're falling into this category, the top question on your mind is whether you can retire with secured financial backing.
Regardless of your answer, the second question should be what you're going to?
Stay idle? Definitely no.
You've invaluable knowledge and experiences, why don't you share it with younger generations?
Be a trainer is a good option.
As a training provider (Adaptive Training & Consulting, www.atc.com.my), in fact, I've lots of inquiries from friends, friends of friends, how to start off as a freelance/independent trainer. I've given them advises, road map. Last couple of weeks, I decided to put pen to paper to write a eBook on the subject matter. I hope to give all interested potential trainers an excellent starting points en route to a reward second career.
Stay tune
80 Million across America belonged to baby boomer generation are set to retire, or already have retired. I've just found out retirement management or retirement planning is becoming a hot topic.
If you're falling into this category, the top question on your mind is whether you can retire with secured financial backing.
Regardless of your answer, the second question should be what you're going to?
Stay idle? Definitely no.
You've invaluable knowledge and experiences, why don't you share it with younger generations?
Be a trainer is a good option.
As a training provider (Adaptive Training & Consulting, www.atc.com.my), in fact, I've lots of inquiries from friends, friends of friends, how to start off as a freelance/independent trainer. I've given them advises, road map. Last couple of weeks, I decided to put pen to paper to write a eBook on the subject matter. I hope to give all interested potential trainers an excellent starting points en route to a reward second career.
Stay tune
Wednesday, October 24, 2007
Family Business - How to Let Go
My customer's partner has a furniture factory, and has been in the business for the last 20 or so years. The company is making money, no doubt, but the business climate is getting more and more cloudy these days. Competitions, uncertainties, escalating costs, and myriad of other issues cropping up every day, and never seem to end anytime soon.
The business is run by brothers, unfortunately all of them lack any formal qualifications.
Blood and sweat and good fortune can take you somewhere, but the road has a dead end.
This is the dilemma facing by family businesses. At this point of time, the brothers know that they lack capabilities and capacities to run the business, but how to let go?
I don't think letting go is the main issue. The issue in the mindset of the family owners. Human are basically territorial. We build fences around our house, we put up boundaries to stake our claims. Letting outsiders into our cycle of comfort zone would be a frightening experiences. The family owners need to change their mindset by:
- Have a clear succession plan.
- Setting business goals and targets
- Put in monitoring and control systems
- Setting clear role and responsibilities, including the owners themselves
- Build effective leaders, managers and workforce
- Empower and delegates
- Sit back and enjoy
The missing part in the above plan of attack is to bring in professional managers. With right qualifications and concrete incentive plan, the owners can be ensure of, with certain degree of comfort, that the business can go on.
Fresh blood and professionalism is needed to get family business out of doldrum.
Just look at Microsoft, Dell, and Apple, HP, GE. These are come of the well-known corporations run by professional managers, after the founders/owners let go the reigns.
Hanging on would just be hung.
The business is run by brothers, unfortunately all of them lack any formal qualifications.
Blood and sweat and good fortune can take you somewhere, but the road has a dead end.
This is the dilemma facing by family businesses. At this point of time, the brothers know that they lack capabilities and capacities to run the business, but how to let go?
I don't think letting go is the main issue. The issue in the mindset of the family owners. Human are basically territorial. We build fences around our house, we put up boundaries to stake our claims. Letting outsiders into our cycle of comfort zone would be a frightening experiences. The family owners need to change their mindset by:
- Have a clear succession plan.
- Setting business goals and targets
- Put in monitoring and control systems
- Setting clear role and responsibilities, including the owners themselves
- Build effective leaders, managers and workforce
- Empower and delegates
- Sit back and enjoy
The missing part in the above plan of attack is to bring in professional managers. With right qualifications and concrete incentive plan, the owners can be ensure of, with certain degree of comfort, that the business can go on.
Fresh blood and professionalism is needed to get family business out of doldrum.
Just look at Microsoft, Dell, and Apple, HP, GE. These are come of the well-known corporations run by professional managers, after the founders/owners let go the reigns.
Hanging on would just be hung.
Monday, October 22, 2007
Oil Price and You
Now that oil price has reached US86 per barrel, and I've seen some "experts" have predicted to go up to US100 per barrel.
This is an external event that you and me cannot control. So, there is no point in spending our energy in worrying about it. We should be focused and spend our energy and resources in looking at our business strategy, and see
- what implications has high oil price on my business? For example, the weak US Dollars
- what opportunities are there to capitalise on. For example, the soaring gold bullion price
- what tactical plan should I have to stay competitive, or stay in business
If you have done a business plan in the beginning of the year, you probably has a clear strategy to executive by now. However, if you still very much in reactive mode, then may be is about time to put planning into your business psyche.
Better late then never.
This is an external event that you and me cannot control. So, there is no point in spending our energy in worrying about it. We should be focused and spend our energy and resources in looking at our business strategy, and see
- what implications has high oil price on my business? For example, the weak US Dollars
- what opportunities are there to capitalise on. For example, the soaring gold bullion price
- what tactical plan should I have to stay competitive, or stay in business
If you have done a business plan in the beginning of the year, you probably has a clear strategy to executive by now. However, if you still very much in reactive mode, then may be is about time to put planning into your business psyche.
Better late then never.
Tuesday, October 16, 2007
At Time of Winning, You Fail
I love rugby. This love affair started when I was study in Auckand, New Zealand. Of course, I support the All Blacks.
I love rugby even though I don't play the game. I guess some of us are arm chair sportsman. We (at least I'm) haboured a dream of running onto the playground in an All Black jersey, doing the Haka, and beat the hell out of the other team (especially the Aussie!)
Sadly, All Black (AB), the World Cup favorite, lost to France in the quarter-final 2 Saturdays ago.
The Team purportedly is the best prepared team in the recent AB history. They cooked up a strategy based on rotation, re-conditioning, and a few other concepts that you could write a thesis on.
But, they forget the most important aspect of playing the game. To win. Especially to win the tournament that is matter in every four years.
Let me ask you a basic business question.
When customer come asking about your product or services, at that customer touch point, at that moment in time, is your people ready to win or would fail miserably.
When your business is down, don't ask your sales people. Ask yourself as the leader of your company whether you've prepared your people to be ready to make the winning a inevitable outcome rather than accidental success.
But then again, even the best prepared team, the odds-on favorite like AB can still lose it all at the crucial moment. At the time winning, fail.
Which means, that is no guarantee to success.
But if you can do something to improve your chances of success dramatically.
I love rugby even though I don't play the game. I guess some of us are arm chair sportsman. We (at least I'm) haboured a dream of running onto the playground in an All Black jersey, doing the Haka, and beat the hell out of the other team (especially the Aussie!)
Sadly, All Black (AB), the World Cup favorite, lost to France in the quarter-final 2 Saturdays ago.
The Team purportedly is the best prepared team in the recent AB history. They cooked up a strategy based on rotation, re-conditioning, and a few other concepts that you could write a thesis on.
But, they forget the most important aspect of playing the game. To win. Especially to win the tournament that is matter in every four years.
Let me ask you a basic business question.
When customer come asking about your product or services, at that customer touch point, at that moment in time, is your people ready to win or would fail miserably.
When your business is down, don't ask your sales people. Ask yourself as the leader of your company whether you've prepared your people to be ready to make the winning a inevitable outcome rather than accidental success.
But then again, even the best prepared team, the odds-on favorite like AB can still lose it all at the crucial moment. At the time winning, fail.
Which means, that is no guarantee to success.
But if you can do something to improve your chances of success dramatically.
Monday, October 1, 2007
Fish Story Part 2
The 16 fishes have the tendency of being shy. Sudden movement, or sound would immediately set off a furry of activities, sending them into hiding. They would hide behind the artificial reefs made up of small pieces of woods and pebbles and 16 pairs of fishy eyes would stare out at you. It never fail to crack me up!
Gradually, over a period of 2 months, something amazing starting to happen. Once a day, around 7pm, similar movement would only attract them to you, rather than send them into hiding.
Because it is the feeding time.
Natural instinct has led them to learn that at this particular time, food is coming. Their behaviour changed to suite that.
If fishes can learn, and change their behaviour in accordance with the acquired knowledge in order to do what is needed to improve their livelihoods, what more to say about us human?
Companies that do not have designed human capital improvement strategy is robbed off opportunity to become high performing companies. They are effectively failed to realise their potentials.
Continuous learning helps to inspire, improve and transform.
Gradually, over a period of 2 months, something amazing starting to happen. Once a day, around 7pm, similar movement would only attract them to you, rather than send them into hiding.
Because it is the feeding time.
Natural instinct has led them to learn that at this particular time, food is coming. Their behaviour changed to suite that.
If fishes can learn, and change their behaviour in accordance with the acquired knowledge in order to do what is needed to improve their livelihoods, what more to say about us human?
Companies that do not have designed human capital improvement strategy is robbed off opportunity to become high performing companies. They are effectively failed to realise their potentials.
Continuous learning helps to inspire, improve and transform.
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