Audio Book Pic: 'First Things First' by Stephen R. Covey

by Gale Martin, S. Dale High Center for Family Business, Director of Marketing

I might never have the chance to hear Stephen Covey, author of The 7 Habits of Highly Effective People speak in person. But I can tell you that listening to his audio book, First Things First, might be the next best thing.

It takes little more than an hour to listen to. But the wisdom that can be gained in that hour? What's the tagline on that very successful MasterCard campaign? Priceless! He's got some priceless suggestions that might revamp your thinking on time management like it did mine because First Things First is really about life management, which is much more important and much easier to make a mess of than time management.

The Four Quadrants

I want to pull out one concept that may pique your interest in obtaining this audio book. It's Covey's concept of the four quadrants:

Covey contends that most tasks in business, in life, for that matter, fall into one of four quadrants:

• Q1=Urgent and Important;
• Q2=Not Urgent and Important;
• Q3=Urgent but Not Important; and
• Q4=Not Urgent and Not Important

His research together with the work of A. Roger Merrill and Rebecca R. Merrill contends that most adults spend their lives doing things in Q1 and Q3. What's the difference between Q1 and Q3, which are both urgent quadrants? Often the Q3 things that are urgent are imposed on us by others--their need for meetings or materials--needs that don't necessarily mesh with ours.

Sometimes we get so worked up and taxed-out attending to Q1 and Q3 that by default, we slip into Q4 to escape--doing Non-Urgent and Non-Important Things. Go ahead--pick your poison. Doing sudoku, watching mindless TV, surfing the Internet, playing on social media (rather than having a defined purpose for being on FB or Twitter.)

When the quadrant where we should be spending most of our time is Q2--Important but Not Urgent. That's where everyone can gain the maximum benefit.

The Perils of Cramming or Living in Q1 and Q3

He then goes on to offer this example. Consider how farmers would fare if they operated anywhere but Q2. You can't cram a harvest into a month. You can't wait until August to plant seeds and hope to have mature fruits and vegetables by September.

Yet, how many of us try to cram in our adult lives as if we were college kids, letting important, life-changing, business changing tasks go, thinking that we could handle them once they've become urgent matters.

For another example, consider the long-distance runner.  You can't cram preparing for a marathon into a week, having sat on your backside eating potato chips and ice cream for the past year.

After winning you over to the importance of focusing on Q2 more than any other, he then wants you to ask yourself the following questions:

• What is the one non-urgent thing that I could do, beginning today, that would make a profound impact on my personal life in the long run?
• What is the one non-urgent but important thing I could do, beginning today, that would make a profound impact on my business life in the long run?

Making a difference

Here's what I identified as two Q2 tasks needing my attention:

• On a personal level, if I could devote time every day to taking better care of myself--eating better, exercising more--that would have a profound effect on my quality of life.
• On a professional level, if I could make one follow-up phone call or contact per day with family businesses that visited our Center programs in the past but haven't yet become members, that would have a profound impact on our bottom line.

Just to drill down on the professional goal a bit--nobody wants to be solicited for membership by someone in a hurry. I know from experience that if you merely stick with a business who has expressed an interest, when the time comes that they realize they need you, because of your past efforts to stay in communication with them, it's likely they won't forget about you.

It's hard to express how profoundly eye-opening First Things First was for me, personally and professionally.  Yes, you may arrive at the same precepts and conclusions Covey has drawn through ten or twenty years of contemplation.

But who has that much time on the planet to tread water that long before discerning the secrets of the universe. It's easier just to buy the audio book.

How about you? What one change could you make in the personal and professional realms, what important but non-urgent matter could you take up right away that would make a profound difference in your life?

Quote of the week

“The successor must prepare for a job that doesn’t yet exist, in an era no one can fully foresee.”

-- Another Kind of Hero: Preparing Successors for Leadership by Craig E. Aronoff, Ph.D. and John L. Ward, Ph.D.

Thoughts for a New Year in Family Business

If your family business is heading into 2011 without a succession strategy, there's simply no way your family business will be able to compete in the long run. Succession planning is a strategic issue.

Give your family business what it deserves in 2011. Resolve to address succession issues this year. If you're ready to work on succession planning, the S. Dale High Center offers personalized consulting services to family firms throughout North American and Latin America.  Email the Center for more information.

Merry Christmas from the S. Dale High Center!

Leadership transitions--What could be more vital to a family business to manage well?

Leadership Transitions Panelists: Phil Clemens, Tony Martin, Dana Chryst, and Matt Diller

A diverse family business panel featuring family business principals Phil Clemens, Tony Martin, Dana Chryst, and Matthew Diller will discuss leadership and their views on leadership transitions during the S. Dale High Center's next breakfast seminar on Thursday, January 20, 2011, from 8:15 to 11 a.m.

Leadership transitions in family businesses are potentially volatile events. Typically, there tends to be a serious failure to plan adequately for leadership transitions in family businesses.

Consider these daunting statistics related to family businesses compiled by Key Resources:

• 88% of family owned businesses plan to stay in the family
• 47% expect leadership to change within 5 years
• 42% have not yet chosen successors (of the CEOs 61 years and older, 55% haven't yet chosen a successor)  
• 13% of the family members said the CEO would never retire; 34% said they were not aware of the successors intentions
• 20% have not yet completed estate planning

Is there any process more important than transitioning a company from one senior leader to another?

Because each principal represents a different viewpoint and level of responsibility within their family businesses, the panelists will offer wide-ranging experiences and varied expectations and results regarding leadership transitions in their companies.You'll hear from several generations during the "Leadership Transitions" panel--senior executives, rising executives, and next generation executives.

Moderated by S. Dale High Center Executive Director Mike McGrann, the panelists will be asked about some of the processes and best practices they have employed or are employing to ensure successful leadership transitions, and how their family businesses prepared employees and customers, other family members, and themselves for transitioning senior and executive leadership.

A videotape of this event will be available shortly after January 20th through The Network of Family Businesses website. If you live in Central Pennsylvania, and would like more information on this event, call the S. Dale High Center at 717-361-1275.

Relationship Doctor to Serve Women Executives in Family Business

Dr. Rita DeMaria
 relationship expert

Every woman who works in a family businesses knows the unique challenges she faces, whether she's a family member or a non-family principal. Whole books have been written about the particular qualities that women bring to their family businesses to ensure business success and sometimes survival. None are more keenly aware of the dilemmas and conflicts that affect women than the women who work in family  businesses.

That's why we are offering a unique forum at the S. Dale High Center--an Affinity Group for Women and Non-Family Women Executives in Family Business, on three Thursday mornings in 2011 (February 3, April 7, and June 2)--with two new twists.

First, Dr. Rita DeMaria, a renowned therapist and author, is joining the Women's Affinity Group, or face-to-face discussion forum, as a co-facilitator. She brings an invaluable level of communications expertise to help more women realize more success in their family businesses, whatever their roles.

Second twist: Because of Dr. DeMaria's participation, we are opening up the Women's Affinity Group (and only this group) to non-members of the Center in 2011.

For S. Dale High Center members, the Women's Affinity Group is a fee-based program that costs $300/year. The fee for non-members is $500/year, with no requisite for organizational membership to participate in this group in 2010-11. That means, if your family business isn't ready to join the Center, but you'd like to have a valuable forum to discuss issues and professional challenges with other women in family businesses, now you can do just that.

All meetings are held from 8 a.m. to 10 a.m. at Elizabethtown College.
We hope you'll consider this wonderful opportunity to realize unprecedented professional success next year through enhanced communications and relationship skills.

If you're a woman executive or non-family woman principal in a family business and would like to enroll in the Women's Group for 2011, please contact us at fbc@etown.edu or call us at 717-361-1275.

Established in 1995, the S. Dale High Center for Family Business is one of largest resources for family businesses in the United States. Created by a group of business people, family business owners, and representatives of Elizabethtown College, the Center is dedicated to bringing the best available resources to family businesses. Serving Southcentral Pennsylvania and beyond, the Center believes that strengthening entrepreneurial families enhances the community and the economy as well. More information is available at the website (www.centerforfamilybusiness.com), by email fbc@etown.edu or by calling 717.361.1275.

'Why Should I Use Social Media?'-- A Guest Post from a Social Media Marketer

Why should I expend
the effort on social media?

Today's guest post, "Managing Reputation and Social Media in a Digital World," is by Kelly Carson, Director of Strategic Marketing, Charter Homes & Neighborhoods

You hear it again and again – social media is the future of business marketing. Facebook, Twitter and other social networking sites are experiencing exponential growth, and are gaining prominence in the worlds of marketing and advertising. Most of you already know the basics – a Facebook Page, blog, Twitter account, or LinkedIn profile allows you to talk to current and potential customers and to promote your products, services and latest news. However, for many business owners and marketers, the actual value of social media to their business still seems unclear. Why, you might ask, does my printing firm, landscaping business, B2B supply firm, restaurant, or car dealership need a social media presence?

While I can’t answer each and every objection to spending time on social media, I’d like to tackle one frequent objection I’ve heard – here’s a quick summary:

Why does it even matter if I’m on Facebook or Twitter? Why should I expend effort – and resources! – spending time on sites that are known as “time wasters”? I mean, my customers are on these sites to talk to their friends, and if I start talking to them on Facebook, I’ll just annoy them – or maybe even encourage them to leave negative comments about me!

My response? I believe that social media exists to help people connect in ways that were previously difficult (or impossible!) to do. Want to connect with your best friend from third grade? Just “friend” them on Facebook. Want to vent your frustration with a local restaurant? Tweet away, and Chili’s is listening! The bottom line? No matter what type of firm you are involved with, in order to build relationships with your customers, you need to be present in as many venues where people connect and communicate as you can.

Your customers want a dialogue
and an authentic connection with your company.

Here’s the surprising truth: your customers expect – and even want you to be involved in social media. The capabilities presented by social media have created all new challenges for marketers. No longer can businesses simply “broadcast” a marketing message to customers. These days, your customers want a dialogue – they want to speak directly to the companies that they patronize, and they expect an authentic response from a real person. The more “present” you are where your customers spend their time, the more authentic your connection with them will be! The key for your business is to be where your customers are – whether that is on Facebook, on an online forum, or Tweeting with friends and peers.

You need an active social media presence – and to actively manage your online presence - if you want to know what people are saying about your business and have the chance to respond. In the age of social media, people are becoming increasingly more likely to talk about their experience with your business online. Whether through a tweet, a blog post, an online review, or a comment on Facebook, your customers will find an outlet to express how they feel about you. If you are a member of these sites, you’ll have a greater likelihood of being able to capture – and respond to – these comments. At a minimum, you should take a few minutes to set up free Google Alerts so that you’re notified whenever someone mentions your brand or a keyword related to your brand online.

One additional tip: find someone to keep an eye on your website traffic. Are there a large number of visitors to your webpage from a site you’ve never heard of? If so, check out the URL that they’re coming from – you may be surprised! For example, a few months ago, I noticed a significant amount of traffic coming to our site from a local blog. After doing a little “Googling,” I discovered that the woman who wrote the blog had visited one of our Parade of Homes entries – and then wrote a blog post about how she used it as inspiration as she decorated her own home! As a result, we were able to connect directly with the blogger and share a great review of that home with our other online followers.

Sure, but what if someone complains about my business? I like to think of complaints as “unmade requests.” Rather than ignoring or avoiding your customers’ online complaints, why not address them before they have the chance to fester and grow? People who are unhappy with your business are likely looking for some validation, some sort of response that lets them know that you care. Some of the most successful companies using social media have been able to address their customer’s complaints instantly – just look at Boingo, HP, or Best Buy’s celebrated Twitter customer service efforts. The ability to respond directly to customer complaints is a powerful one. You are reaching out and solving a problem for someone when they are upset or frustrated – meaning that you may just get to be the hero in the story of their customer experience!

Social media: an endeavor worth taking

In the end, while much of social media may still be a “Wild West” yet to be explored and figured out, it’s an endeavor worth taking. Best of luck as you start the conversation!




Charter Homes & Neighborhoods (www.charterhomes.com) is a new home builder based in Lancaster, PA (with a brand new website!) Kelly received her MBA from Harvard Business School in 2010. Originally from Littleton, CO, Kelly has enjoyed working in online marketing and social media since she learned her first snippet of HTML in 2003. You can reach Kelly at kcarson@charterhomes.com.