Four Keys to Managing Change

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Though this is written primarily for financial advisors, the principles apply to any business in any industry and provides readers with a simple four-part model to consider when undertaking a change initiative of any size. Using this model as a guide throughout the change process will greatly improve the chances of having a successful, satisfying outcome, whether you are “transforming” or “tweaking” your organization.  

Living, as they do, in the world of numbers financial advisers should be cautious when attempting to ...

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Case Study – Broker-Dealer

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Service: Change Management and Strategic Initiatives

Client: Nationally Recognized Broker-Dealer

Situation:

The nationally recognized broker-dealer was in the midst of a transition, brought on when one of the partners announced he was leaving the firm. Although the terms of a partnership buyout had been previously set, the established value of the firm was questioned creating a period of uncertainty. The new leadership team wanted to establish a new strategy that could be implemented quickly and effectively.

Solution:

First, ...

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Case Study – Financial Advisory Firm Change Management

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Service: Change Management and Growth

Client: Large Independent Financial Advisory Firm

Situation:

The firm had experienced rapid growth and had an annual revenue of $6MM. Unfortunately, the growth had created a number of “choke points” and the internal processes were no longer adequate. The inefficiencies were impacting the firm’s overall operations resulting in dissatisfied clients, frustrated workers, overly engaged principals and reduced net profits.

Solution:

After meeting with the management team, we first identified the key areas needing ...

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Case Study – Change Management & Growth

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Service: Change Management and Growth

Client: Large Service Company

Situation:

The company had grown to become a regional leader in its market, but had not been able to grow its business for more than three years. Because of the relatively low barriers to entry, each year several new companies entered the market, making it increasingly difficult to compete. In addition to growing the business, owners were concerned that new federal and state regulations were putting the future of ...

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Case Study – Interim Executive

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Service: Change Management and Growth, Interim Executive

Client: Large Service Company

Situation:

The company had grown to become a regional leader in its market, but had not been able to grow its business for more than three years. Because of the relatively low barriers to entry, each year several new companies entered the market, making it increasingly difficult to compete. In addition to growing the business, owners were concerned that new federal and state regulations were putting the ...

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Reduce the Risk of Business Growth

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By taking on the the mindset of Ulysses S. Grant, you can reduce the risk of business growth and increase the likelihood of success. 

It’s hard to grow a business. Most attempts fail. At times, miserably.

As a result, we tend to avoid or at least minimize our risks when creating strategies for business growth; holding tightly onto the tried and true. Even when the “tried and true” starts losing its luster.

One of our clients owned a company in a mature industry. ...

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Business Innovation and Growth

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In a recent Price Waterhouse survey, CEOs were asked how they intended to grow their companies. More than one-third will do so through a strategy of business innovation.

Reading this, I wasn’t surprised. Since returning to its creative roots Apple, for example, has grown to become one of the world’s largest companies. And Instagram, the popular photo-sharing service, had gained more than 100 million active users in less years, prompting Facebook to buy them out for $1 billion!

Although we admire these ...

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My View … on Business Performance

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To Improve Your Business Performance, You Really Need a Garage Sale Mind-set

Tomorrow Liberty Lake will host its annual community wide garage sale. I had heard about this before we moved here, just over a year ago. But until my wife and I lived through it, we did not fully appreciate the event.

And what an event! Hundreds of sales, thousands of visitors, dozens of vendors; all converging to make our small city on the lake a regional “hot-spot,” if only for a ...

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Keep Paddling – The Change Will be Worth It

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Change is hard, not impossible

We spent a week on the island of St. John in the Virgin Islands. My wife and I were celebrating our 35th anniversary. Those who have met me know that I look far too young to have been married that long. That’s what happens when you marry at the age of 10.

Sitting on a hill overlooking Cruz Bay and the island of St. Thomas, our rented house was ...

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Making Strategy Work

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Strategic Dots and Flip Charts

I once worked for a large, regional accounting firm. Really!

As a non-accountant, I felt out of place. Sort of like when I ran a marathon and sneaked to the front of the line with the elite runners. If you’ve met me, you know that I (1) do not look like an elite athlete, nor do I (2) look like a Kenyan. But I wanted a good ...

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