Visioning is specific and anchored on a specific time in the future. Steven asks clients to perform 3 activities to do this, including writing down main issues and their inverse, looking at competitors and creating key attributes your company is aspiring towards, and determining your company’s guiding values and principles.
HIGHLIGHTS
05:41 SMEs need fluency in the language of business
10:28 Cash flow statements: 2 interpretations by business owners and investors
15:59 Small Giants is for companies who choose to be great instead of big
22:21 Visioning: Envisage what success is in a specific time in the future
28:31 Write frustrations and their inverse, score self in key attributes and where they are at the point of visioning vs 2 years ago, and determine company guiding principles
37:45 Create slice teams, send to advisers and get feedback, and then publish
41:30 Be specific about financial success
47:31 Connect with Steven
QUOTES
06:22 "What I've realized is that discomfort and the lack of understanding around the point of finance and how to read to balance sheet and why it matters and how to use numbers to tell the story of the business is it seems to be a universal issue."
18:58 "There is a lot of psychological research or systemic research gone into why families are... fundamentally different from businesses. And then, if you start mixing or conflating the two, then you get into tremendous difficulty because nobody really knows who they are anymore in the system."
19:54 "I think family values of respect and decency and some sort of equanimity, they have their place in a business, but business, a really sound business culture, will recognize that it's run on entirely different rules."
43:59 "All I'm saying is why don't you just start at the end and work the goals back from there, rather than just putting up the goals and saying, I'm going to do this quarter's goals and ] next quarter's goals, and next quarter's goals."
To learn more about Steven, you can check out the links below.
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