Herzlich Willkommen » amily own the new bui

I would like to talk about a specific illustration of what I mean. I would like you to imagine a very emotional meeting. It took place in a family company.


The company sold part out of a warehouse. For years they had leased their facilities from a third-party landlord. The heated discussion was all about building a brand-new custom building or continuing to rent. Plus Yannick Ngakoue Jersey , if they decided to build the needed also to decide how the property would be owned.


Would it be owned by a new company?
Would all the members of the family own the new building?
Could they use the current company to own the property?


Those are three and there could have been more questions. I just don’t know what they were.


It seemed everybody in the family had a different point of view. Two were in total support, but didn’t know what the ownership mechanism would be. Another member was upset he wasn’t included in the early discussions about this idea. The majority owner was only thinking about taking on new debt.


The family member who managed the business was the one that brought the idea forward. In addition, two outside advisers were present. An attorney who was there to talk about legal issues. And Dede Westbrook Jersey , the company’s account and was present to talk about financial issues.


The meeting was not going well. The outside advisers wish they weren’t there. In fact, all where in the meeting and were working on the question of buying or renting. They had never even agreed if the question was appropriate to be discussed.


I don’t know if you ever witnessed this kind of meeting or if you’ve been in this kind of meeting before. The agenda of the meeting isn’t the issue. The context is what we are concerned with.


The question I’d like you to ponder is this. Should they be looking at this decision in detail or not?


Let’s talk about the idea of Drilling Down or Chunking Up.


The concept of drilling down is probably not new to you. It means digging in and finding out what’s at the heart of the matter. it’s a natural reaction when we see a problem staring us in the face. Sometimes getting a right to work in an issue is not the right thing to do.


I have invented the term, 鈥淐hunk Up鈥? The term means to get higher or above an issue. A higher vantage point typically give you the opportunity to see things from a broader perspective. It enables us to see how this particular problem fits in to the overall strategy.


As it turns out in the illustration we used here Cam Robinson Jersey , this would be the right thing to do. Everyone needs to take a broader view.


The family in this illustration doesn’t really know what their overall strategy is. Their first step is to step back and reach and mutual understanding about their overall strategic direction. So their meeting was genuinely time wasted. They needed to avoid talking about the building at this point in time. In fact, it may never be the right time. This is a tactical decision that needs to be addressed within the overall strategy. After all, owning some real estate is potential big distraction.

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