In a recent article in The Economist, my favorite magazine (minus any that report on realty TV ;-)., has a great article entitled “A very British business: Some lessons from the success of Britain’s elite private schools.” The article notes three areas where business could learn a lesson from (essentially) K-12 schools in Britian:
- “The first is that ‘tradition’ and ‘innovation’ need not be mutually exclusive.” In short, you can be in a business and still have enough vision to innovate/re-envision the business.
- “Performance measurement isn’t something performers are scared of. “I had a call today with a former long-term client. His son is looking at attending a boot camp. I shared to ask for scores and placement rates at program completion.
- “…insiders can make the best revolutionaries.” In the article, it shares that effective transformers can come from inside a business. I agree.
The state of small business, in my opinion, is pretty fascinating. Here are some stats from a Business Insider infographic:
- The U.S. government defines small business as less than 500 employees and 50% of workers work for small businesses
- 65% of new jobs since ’95 are in small businesses
- Only 7 out of 10 new employers last two years, half last five years, a third make it 10 years, and only one out of four makes it 15 years
Dan Sullivan, the person behind Strategic Coach, many years ago stated the four fundamentals for success in life:
- Show up on time
- Do what you say
- Finish what you start
- Say please and thank you
He goes on to say, and I agree, that while many other pieces are required for success, continually skip one of the above and success in life will be hard.
On April 21, I spoke on the topic of employee engagement. Below is the slide deck from the presentation:
In Built to Last, Jim Collins says “…being a charismatic visionary leader is ‘time telling’; building a company that can prosper far beyond the presence of any single leader…. is ‘clock building.’”
Clock building leaders:
- Focus on organizational design
- Stay out of day-to-day details
- Focus on the long term vision
- Reinforce values
- Builds a team of leaders