2018 Business Excellence Forum – Blinding Flashes of the Obvious Part 2

While reviewing my notes for this blog, I noticed that I omitted two Elizabeth McCormick BFOs from Part 1
  • When thingsimg_1523-for-blog get hard, ask yourself “Do I Want This?”
  • CAN
    • Communicate – Positive & Proactive
    • Aviate – Take Action
    • Navigate – Clarity
  Elizabeth McCormick was followed by Chris Voss, CEO of The Black Swan Group, LTD and co-author of Never Split the Difference: Negotiating As If Your Life Depended On It.  He spent 24 years working in the FBI Crisis Negotiation Unit and was the FBI’s chief international hostage and kidnapping negotiator from 2003 to 2007.  There were only a few BFOs from Mr. Voss, however they were MAJOR.  During negotiations:
  • Banish “I Understand” from your vocabulary. It is condescending.
  • Build confidence & trustworthiness – “Will you listen to what I have to say?”
  • Open by asking a question or making a statement with the expected answer or response of NO. For example: “It looks like there is no way to get the hostages released safely.”  Going for the NO gets the other side to tell you what they are really after.  Chris gave several sales-oriented examples: “It looks like you are not interested saving money for payroll processing while getting quicker service.”
  • Never say “you’re right” only say “That’s right” and then shut up!
  • Perceived EMPATHY is a Truth Serum
Our next speaker was Dr. Tony Alessandra, CEO of Assessments 24×7, LLC.  Dr. Alessandra is a prolific author with 30 books translated into over 50 foreign language editions, including the newly revised, best-selling The NEW Art of Managing PeopleCharismaThe Platinum RuleCollaborative Selling; and Communicating at Work.  ActionCOACH has a strategic partnership with Assessments 24×7 that enables my colleagues and I to offer a variety of online assessments, including the widely used DISC profile, the Hartman HVPMotivators (Values/PIAV) assessment, and several 360º effectiveness assessments.  BFOs from Dr. Alessandra include:
  • “Prescription before diagnosis is malpractice.” This represents a prime reason we at ActionCOACH offer a complementary diagnostic coaching session before suggesting a coaching program to prospective clients.
  • Establishing a competitive advantage is founded on an understanding of customer needs (not wants) and the ability of competitors to meet those needs. Understanding your competitive advantage allows you to sell value, not price.
    • Understand your Uniqueness’s, Advantages & Disadvantages
    • To dig deeper and to differentiate your offering from your competition in a given situation use this tool
Your Advantages compared to competitor Your Disadvantages compared to competitor
Competitor A ? ?
Competitor B ? ?
Competitor C ? ?
Competitor D ? ?
  • Feedback Questions
  • How well does our solution address the needs and goals you expressed earlier?
  • What other advantages do you see in our solution?
  • How closely does this solution fit your budget & timeline?
  • How will you determine the success of our solution?
  • What needs do you see that I might have missed?
  • Alessandra presented three case studies on the effectiveness of using various combinations assessments during recruiting and hiring. As the saying goes, “your results may vary.”  Nonetheless, using assessments before offering a position to a candidate increases the likelihood of a successful hire.
This concludes the major BFOs from the first day of the Business Excellence Forum.  Stay tuned for day 2’s BFOs, coming soon.

2017 Business Excellence Forum – Blinding Flashes of The Obvious Part 1

I said it last year, and I must say it again, the Business Excellence Forum (BEF) gets better each year.  There were more than 500 business owners, executives, team members and business coaches in attendance in Houston, Texas.  With that many attendees, there was an abundance of formal and informal exchanges of ideas, strategies, success stories and best practices. This year’s forum had an extensive list of keynote speakers whose presentations yielded many Blinding Flashes of the Obvious (BFOs) and new ways of looking at things.  The following are some of the BFOs that struck a chord with me, most of which will enhance the value I bring to my clients.  I am sure that some of these will have a similar effect on you. During the opening session, Brad Sugars, founder and Chairman of ActionCOACH shared the following:
  • We often present the concept of Learn More to Earn More. Brad added Serve More to Earn More.  Serve More to Earn more became one of the major themes of this year’s Forum.
  • To serve more, you must set an expanded vision (more about that later) and then you must grow into it.
  • Brad highlighted the difference between a Leader and a Coordinator. Leadership is all about the Vision.
  • During a discussion of referral strategies, Brad challenged everyone to develop a pre-gifting strategy. For example, give a book relevant to your product or service to ten of your top customers and encourage them to pass the books along to people who would benefit from your offering.
Our first keynote speaker was Keith Cunningham, author of “The Ultimate Blueprint for an Insanely Successful Business” and creator of the CFO Scoreboard.  (keystothevault.com) Mr. Cunningham, while explaining financial reports in very plain, simple language, slips in many gems about business.  Following are some of the most important:
  • For most in business, the universal answer to business problems or issues is growth – most of the time, that is a fallacy. It is often more effective to consolidate your business and address the problems directly before resuming your growth.  After all, your problems may grow bigger as your business grows.
  • “To play the game of business you’ve got to speak the language.” The language is knowing how to read and understand your financial statements and KPIs.
  • You need two things; Language and Scoreboard:
    • Language (Report Card) = Financials
    • Scoreboard (Dashboard) = Optics which leads to strategy
  • img_9490-small
  • To make more money, get better at business
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  • M+D+A=N – Management -> Decisions -> Activities -> Numbers.  The numbers on your Report Card (Financials) influence your Activities and your activities determine your Report Card.
  • What activities need to change to change your numbers? When you stand on the bathroom scale and are unhappy with the number you see, what are you going to change to eventually see a happier number?
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  • We have too many goals, we need more standards (non-negotiable goals).
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  • Running your business with un-read or improperly formatted financial reports is like playing pin the tail on the donkey.
  • You give what you tolerate – every management failure is caused by a lack of courage.
  • PROFIT is a Theory – Cash is a FACT
  • “It is not about getting big, it’s about getting rich (generating cash).” Too many businesses lately are focused on getting very big.  Many of them are burning cash along the way.
  • The only reason to spend money is to get or keep customers.
All the BFOs above were from before the morning break!  There is much more to come from Keith and other speakers in the next blog post.

Oops!

I pride myself on my organizational skills and attention to detail.  Since my coaching practice depends on both, I’ve developed spreadsheets, procedures, and extensive files on my shared disk drive which enable me to run my business effectively and efficiently.  It’s a system that works well, enables leverage, and keeps me in check. So, imagine my chagrin when all too late, I – or rather my wife – discovered a typo in my December newsletter that was missed by both me and my assistant.  It’s hard to correct without jamming up people’s inboxes so the most I could hope for is … laughter! Yes, we have to laugh at these minor transgressions and put them into perspective.  In this case, my assistant indicated 2016, not 2017 for a January seminar.  She herself laughed and said that she was still writing 2014 on checks.  I had little choice but to laugh along with her because this is very likely a universal thing.  (By the way, as I finalize this toward the end of December, I note that although many opened the December newsletter, no one called me out about the typo.) All too often, we are quick to point out errors and mistakes – as my wife did about the incorrect year.  I think it gives us some satisfaction knowing that we are all flawed.  So how do you overcome setbacks like this?  Here’s a formula:
  1. Be above the line.  Apologize without making excuses.  Saying “I’m sorry” acknowledges the mistake and demonstrates being accountable.  Likewise, if you are on the receiving end of the error, give the person a chance to own up to it without using accountability as a weapon.
  2.  Correct.  After you apologize, ask how you can make it right.  Come up with ideas on your own and collaborate with peers if necessary.  And, on the receiving end, listen and appreciate.
  3. Learn.  There is a vast body of published biographies, auto biographies, business books, articles and knowledge that equate failure and mistakes with prerequisites to success. Bottom line, you’ve got to Learn to Earn.
On the other hand, if you keep making the same mistakes, then it’s time to hire an ActionCOACH business coach to help you break through the obstacles that may be holding you back.  In addition, if you need to design your business to maximize your leverage or would like to learn more about bringing your business and yourself above the line of choice, contact myself or any of my colleagues for a no obligation complementary coaching diagnostic session and learn how we can add value to you and your business.

Applying Pareto’s Law to Your Life (and Business)

Many of us have heard that 80% of your results are achieved by 20% of your efforts. Since Pareto introduced that concept back in 1896 by identifying that 80% of Italy’s land was owned by 20% of the population, it has since been applied to science, engineering, healthcare, and sports. My assistant claims that 80% of what you wear comes from 20% of your wardrobe so the applications are limitless. As a business coach, my clients frequently complain that there’s just not enough time to get everything done.  Upon discussion, we have a lightbulb moment in which the client realizes that s/he is spending 80% of their time on trivial matters and only 20% of their time cultivating their core business, the very antithesis of what they should be doing.  During our coaching sessions, I suggest these ways to increase their productivity – and profits – by incorporating the 80/20 rule:
  1. Focus on the 20% of your customers who are generating 80% of your profits. Cultivate those relationships and watch your bank account grow!  Delegate the rest to your sales team and help them to nurture the future 20%.
  2. Identify the 20% of your friends and business associates who can provide 80% of your support, be it marketing or emotional. Conversely, eliminate the 20% – or more – of those who drain you of your energy or stand in the way of your success.
  3. Find the 20% of the tasks that you truly enjoy which bring the greatest reward and put 80% of your energy into them. The rest can be delegated or outsourced.
  4. 80% of a business’s problems come from 20% of the business. Is the 20% related to production?  Delivery?  A particular employee?  Periodically review your processes, policies and procedures.  Communicate expectations to your staff regularly.  This is about fire prevention.
The common thread here is to simplify as much as you are able.  Granted, the way we work has changed dramatically over the last two decades and we’re now “on” 24/7.  However, by discovering how we are using our time, we can make informed decisions about how we choose to spend it. My colleagues and I are ready to assist you in applying Pareto’s Law to your business and your life.  Contact any of us for a no obligation complementary coaching diagnostic session and learn how we can add value to you and your business.

Barbara Corcoran’s Worst Way to Ask For Assistance

One of my favorite activities while behind the wheel driving to and from the Berkshires is listening to one of the SUCCESS Magazine monthly audio CDs.  This past weekend I was inspired by a segment with Barbara Corcoran on the June 2016 CD. In answer to the interviewer’s question about some of the worst things she has heard from the entrepreneurs she has invested in, she said that  the absolute worst was “What should I do about … ?”  She made it very clear that there is nothing worse than asking her for help that way.  It is not that she does not make herself available to assist and advise her investees, quite the contrary.  She just knows that “What should I do … ?” is the wrong way to request assistance. Why?  That particular phrase and its variations demonstrates a lack of Ownership, Accountability and Responsibility (OAR – above the line of choice – see The OZ Principle by  Roger Connors, Tom Smith and Craig Hickman) for the implementation and outcome of the advice.  If someone tells you what you should do to solve an issue and things do not go well, you can lay Blame at the other person’s feet (Below the Line behavior).  Or if you don’t implement or botch the implementation of the other person’s recommendation, you can still operate below the line by making some sort of Excuse. So what is the right way of requesting assistance from your adviser?  The answer is a very subtle, but significant change to the phrasing of the request to “What would you do in this situation … ?”  When you ask for assistance or advice using this wording, you are taking Ownership, being Accountable and Responsible for both the implementation and results of the suggestion.  Classic above the line behavior.  Sounds subtle but the difference is massive.  Furthermore, the advice you receive is more likely to be well thought out.  And due to your OAR, the results you achieve in solving whatever issue you sought assistance for will be faster and better.  When you operate above the line positive results are easier to achieve.  As the old (actually very old) television commercial said “try it, you’ll like it.” If you wish to delve deeper into living above the line of choice in order to accelerate and magnify your results, my ActionCOACH colleagues and I are ready to assist you.  All you have to do is contact us.

2016 Business Excellence Forum – Blinding Flashes of the Obvious Part 4

The first speaker of the afternoon on the second day was Chris Cooke of Luv4 Marketing one of the ActionCOACH strategic partners.  Luv4 has enrolled me and many of my colleagues in a social media master class.  In addition, we are able to offer a comprehensive marketing class to our clients via our strategic partnership.  My BFOs from Chris were:
  • Leads generated on the internet will not necessarily be successful if they are directed to a crappy website or landing page.
  • Internet leads will research you online, just like you research companies you are considering doing business with.
  • Your sales process must be revised to reflect the unique methods necessary to maximize your conversion rate of online leads.
Our chairman Brad Sugars wrapped up the afternoon and the BEF with mostly housekeeping announcements and one major BFO:
  • In order to improve your conversion rate, keep an Objection Log. Work answers to your most prominent objections into your sales process and materials BEFORE they arise.
The next two days were devoted to the annual North American Coach conference.  We were introduced to several new strategic alliances.  In addition, there were many speakers addressing best coaching practices and client strategies that worked for our clients.  The following are some of the highlights: In a session about KPIs, one of my colleagues showed a clip from the movie Money Ball Ball (https://www.youtube.com/watch?v=yGf6LNWY9AI) to highlight using KPIs to overcome biases.  He then introduced the concept of subdividing KPIs into Leading, Lagging, People and Productivity KPIs, which was a BFO for me, having only thought of KPIs in general. KPI Examples Slide Balance KPIs Slide By the way, if you are not familiar with Net Promoter Score, I will cover NPS in a upcoming blog, stay tuned. In addition, he also had the audience do the following exercise: KPI Table Exercise Slide You should too. Another colleague of mine ran a great exercise based on the ActionCOACH formula for change:

(D x V) + F > R

Step 1 – write out a challenge you would like to eliminate Step 2 – write out your Vision of when the challenge has been eliminated Step 3 – rate your Vision 1-10 (btw if your vision is not a 10, rework your vision) Step 4 – rate your Dissatisfaction with the current situation 1-10 Step 5 – write the consequence of not eliminating the challenge Step 6 – R – list your top 3 resistances to the changes needed to eliminate the challenge Step 7 – write out the First Step Step 8 – Be x Do = Have – write an I Am related to the Being needed to overcome the challenge. (The I Am statement will influence your unconscious behavior related to your DISC) Step 9 – Four steps to learning – Step 7 moved you from u-i to c-i / what needs to be learned to move to c-c? 4 Steps to Learning Slide Step 10 – question how DISC is effecting behavior (both yours and your team’s) toward solving the challenge

Finally, another colleague presented a process for creating “I’ll be happy when …” and personal purpose statements.

To create your “I’ll be happy when …” statement

Write your top 2 personal goals Write your top 2 professional goals List how you will feel when those goals are achieved

Use your top goals and the above list to Create your “I’ll be happy when …” statement

To create your personal purpose statement

List your 2 most positive and unique skills and abilities For example: Experience and Insight

List how you demonstrate these skills Coaching & Mentoring

What does a perfect world look like to you?  Harmony between having positive impact on many clients and enjoying my 70s with my wife and family

Put all 3 together into 1 statement I use my experience and insight to assist my clients to build very successful businesses that create many great employment positions in their communities.

 I trust you will find some ideas in this BFO series of blogs that will accelerate your success.  My colleagues and I are available to assist you in implementing the concepts presented in these four posts.

2015 Business Excellence Forum – Blinding Flashes of the Obvious – Part 2

Here are some more BFO’s from February’s 2015 North American Business Excellence Forum (#BEF2015) and Awards.  On the second day of the conference, we were privileged to be entertained, motivated and advised by Jeffrey Gitomer (@gitomer facebook.com/jeffreygitomer linkedin.com/in/jeffreygitomer) a well known speaker, blogger, author and trainer focused on sales.  His style is rapid fire; I could barely keep up with him with my notes.  Nevertheless, here are some of my top Gitomer BFO’s :
  • Gitomer Rule #1 – Make the prospect laugh and think within the first minute, or you’ll spend the rest of your time trying to recover
  • People don’t like to be sold, they like to buy – One of his core lessons
  • Tell stories that make you believable, facts and figures are forgotten, stories are TOLD and RETOLD
  • Control and engage a conversation by asking questions
  • Service after the sale leads to both Reputation and Referrals
  • Service response for non-salespeople is more powerful than sales – Everyone is in SALES
  • You MUST be perceived to be EASY to do business with 7.365
  • The biggest barrier to sales is fear of consequences
  • Become known as a person and business of value.
And many, many more. I strongly suggest that you subscribe to Gitomer’s Sales Caffeine newsletter (www.salescaffeine.com) for further insight into sales and selling. Brad Sugars, Founder and Chairman of ActionCOACH returned to the stage and spoke about some of the basic concepts that are the foundation of ActionCOACH.  Here are some of my BFO’s from Brad, in no particular order:
  • The ActionCOACH Formula for Change – (D x V) + F > R
    • Dissatisfaction (with the current situation)
    • Vision (what will be after the change)
    • First Steps (make them easy)
    • Resistance (to the change)
  • BE x DO = HAVE – Ever wonder why most multi-million dollar lottery winners become worse off financially than they were before they won the millions within a shockingly short time? The answer is they didn’t have the BEing of a millionaire and therefore didn’t DO what millionaires do and therefore didn’t truly HAVE the millions. You must BE whatever you need to be in order to truly and continually achieve your goals.
  • Living your life above the line of choice
    • Above the line is Ownership, Accountability and Responsibility – have an OAR to steer your life
    • Below the line is Blame, Excuses and Denial – you might as well stay in bed
  • Watch of for the Taps on your Shoulder – Because problems that are unaddressed just get bigger as time passes, you need to tune into the early warnings, the “taps on your shoulder” before you get smacked with a a 2×4, or worse hit by a Mack truck further down the road of life
  • If you build a business to be replicable (even if you have no plans to replicate) it will be stronger and more valuable – Propels you toward the ActionCOACH definition of a successful business A Commercial Profitable Enterprise That Works Without You
  • If it is being done, it can be done, and therefore You/I Can Do It! – A great attitude to have in life
  • Determine what is the highest and best use of your time, and adhere to it
Two more very important BFO’s from Brad Sugars:
  • When you believe in your mission, you have a moral and ethical obligation to follow it
  • Knowledge is not the problem, it is lack of ACTION
Finally, every speaker who presented at the BEF said the following in one way or another: Schedule Time To Think – Those who think govern those who labor

A Survey Shows a BIG Disconnect

My local business weekly newspaper published the results of a July 2014 Wells Fargo/Gallup survey of 603 small business owners.  The survey asked the respondents to list the single biggest business challenge they currently face.  In looking at the survey results, I found a couple of concerns that are counter to some core ActionCOACH concepts.  Here are the survey results:

CHALLENGE                                        %

  • Attracting Customers                               13
  • Government Regulations                         11
  • Financial Stability / Cash Flow               11
  • The Economy                                              11
  • Government (general) / Taxes                10
  • Hiring Qualified Staff                                  7
  • Product Improvements / Updates            6
  • Healthcare / Obama Care                           6
  • Competition with Larger Corporations    6
  • Cost of Running Business                           5
  • Credit Availability                                         4
  • Marketing / Advertising                              4
  • Nothing / No Challenge                               2
  • Seasonal Issues                                              1
  • Employee Benefits                                        1
  • Don’t Know                                                     1
  • Other                                                                1                                             TOTAL       100%
  First of all, nearly one third (32%) of the owners are challenged by exactly the same issues (Government Regulations, The Economy and Taxes) that their competitors are faced with.  At ActionCOACH we advise our clients and aspire to live “above the line” of choice, taking Ownership/being Accountable/being Responsible for our results, rather than being “below the line”, Blaming others/making Excuses/being in Denial.  (For additional information about above/below the line, visit ozprinciple.com and/or read or listen to The OZ Principle by Roger Connors and Tom Smith and Craig Hickman).  Regulations, The Economy and Taxes are not challenges to the business owners who operate above the line and refuse to make excuses for their less than stellar results and treat these issues as opportunities to outpace their competitors. The BIG Disconnect I found within the survey results is the 9 percentage point difference between the top challenge, Attracting Customers (13%) and Marketing / Advertising (4%).  This gap demonstrates one of the top issues my colleagues and I find at our prospects and new clients, namely not viewing marketing as an investment aimed at “buying” customers.  It seems that everyone wants more customers, but do not have a realistic attitude about marketing.  It always amazes me how many business owners I meet who believe that simply having a better mousetrap and opening their doors will attract customers.  Today’s market environment is both a blessing and a curse. It is a blessing due to the greater opportunities to cost effectively reach very large audiences with our marketing messages.  It is a curse due to the tremendous amount of “noise” that there is out in the marketplace.  Our clients who view marketing as an investment, who therefore, establish proper and useful metrics, and are prepared to respond to what their metrics tell them, consistently outperform their rivals. If you are not pleased with the number of customers/clients/patients you have, I suggest that you contact me or one of my ActionCOACH colleagues before you contact a marketing consultant.  If you build the proper foundation and expectations, your marketing will be much more effective when you begin your next marketing campaign.

What Can We Learn About Business From My Granddaughter?

A few weeks ago my 20-month-old granddaughter suffered a broken pinky as the result of a stroller mishap.  A few days after the accident my son-in-law sent me this photo of my granddaughter multi-tasking. After admiring how cute she is in the photo, I started thinking about, of all things, business. Many “experts” have differing opinions about the effectiveness of multi-tasking, everything from it works, it is efficient, it is possible, to it doesn’t work, it is not efficient, it is impossible.  My experience convinces me that the effectiveness of multi-tasking is highly situational.  Multi-tasking is a subject onto itself, and not the primary take away from this photo. The primary business lesson to be gained from my granddaughter is about being adaptable.  We all need to be adaptable as to our investment of our time, our plans and our products or services. First, let’s address how we invest our time.  Think about it, how often during your business day do you find yourself working on items or tasks that were the furthest things from your mind at the beginning of the day?  I am willing to bet that even those of you who are very proficient at planning how you invest your time often find yourself off track at some point during your day, I know I do.  So if we are destined to have unplanned activities occupy anywhere from a few moments to major parts of our work day we must become time adaptable. How often have you read about a very successful company that became successful after its original business plan failed to yield the results it was seeking.  For example, the company we now know as Twitter was in fact founded as Odeo, a podcasting company.  When Apple launched iTunes podcasting, and made Odeo’s podcasting platform irrelevant, Evan Williams, CEO, Biz Stone and an Odeo employee named Jack Dorsey decided to create something called Twitter instead.  (Read more: http://www.businessinsider.com/how-twitter-was-founded-2011-4#ixzz2lyym7wSj).  This turning point displays adaptability at its finest, snatching success from the jaws of failure.  Odeo was both plan and product adaptable. I could site many other examples of companies and owners being adaptable, and I am sure you can add more than a few to my list.  The point of this is really about having the attitude, mindset and culture that allows, supports and facilitates being adaptable.  When the inevitable challenges of day-to-day business arise, will you complain, display counterproductive behaviors or will you view them as opportunities to learn, outpace your less adaptable competitors and to ultimately succeed?  

Effective Delegation vs. Abdication – Part 1

I’ve been thinking about what it takes to effectively delegate rather than abdicate in business, and actually life.  Unfortunately I have seen far too many troubled businesses due to failure to delegate.  There are many facets to this subject so I plan to split it up into sub-topics.  Some of the topics to be discussed here and in subsequent posts will include:
  • Why delegate?
  • An abdication case study
  • Why many business owners and managers do not want to delegate
  • The key prerequisites of effective delegation
  • Preparing to delegate
  • A delegation check list
So why should you delegate? The fact of the matter is that none of us are good at everything it takes to plan, build, grow and operate a business, let alone great at all the aspects of business.  Don’t feel bad, this is normal; we might lack technical knowledge, necessary skills or even the desire to accomplish certain tasks.  Thus, if you want to get beyond the limits of your experience and expertise, you must delegate.  In addition, and, most importantly of all, not delegating will, most often, take your focus away from the essential roles you play in building your business. Don’t fool yourself into thinking you can do everything necessary to build a successful business by yourself.  Effective delegation, once learned and implemented, becomes a tremendous tool that will greatly expand your results.  In addition, due to its efficacy and power, delegation often becomes very addictive. A Case Study – Abdication A number of years ago, a close friend of mine in a declining part of the consumer products manufacturing business was approached by a competitor who wanted to acquire her company.  My friend had totally abdicated many of the necessary financial management functions, both personal and company, to her accountant.  The only financial input she asked her accountant to provide was a one page income and tax summary at the end of each year.  When the competitor’s offer arrived, she was in no position to analyze the monetary impact of the offer. Of particular interest for this proposed transaction was the business’ balance sheet, of which she had no understanding.    She went to her accountant for assistance in responding to the offer and to perhaps propose a counter-offer.  Her accountant, not wanting to lose a client told her that the offer was not a good one, and more or less refused to assist.  By the time she arranged for a new accountant, it was too late.  The offer had expired and the acquirer had made a successful offer for one of my friend’s competitors.  A year later, my friend did sell her business for about $2,000,000 less than the approximate value of the original offer. Don’t get me wrong, I’m not proposing that my client should have completely understood her finances nor kept her own books, far from it.  I am suggesting that to effectively delegate a function, one must have a basic understanding of what is to be delegated, and clear definition of success.  Had my friend not taken the attitude that balance sheet accounting was not anything she needed to know about, she might have more than $1,000,000 (after taxes) in her accounts now. This is Part 1 of a continuing series about delegation.  I welcome your comments and case studies.  Stay tuned, Part 2 will be published shortly.