What is this thing called 9Stucks?
9Stucks is a dynamic business diagnostic tool. It identifies nine distinct yet interrelated business challenges that cause a company to underperform.

Lucky or Unlucky? Winning Leadership Traits

A significant reason for writing this blog is to hopefully prevent companies from developing any of the 9Stucks conditions talked about.  When I see or read something worth sharing, I will share it here and on social media.

Author Morten Hansen is interviewed in the very brief HBR Facebook clip featured below.  He teamed up with Good to Great author and leadership expert Jim Collins to write Great by Choice. If you haven’t read the book, the 5-minute clip is a good introduction to their research findings on sustainable leadership.

What can leaders do to succeed when having good or bad ‘luck’?

They need to have what the authors term “Productive Paranoia”.   The discussion also addresses an approach to innovation – creating the future via ‘empirical trials’.  Good stuff.  ‘Good to great’ actually. Enjoy.

What is this thing called 9Stucks?
9Stucks is a dynamic business diagnostic tool. It identifies nine distinct yet interrelated business challenges that cause a company to underperform.

CEOs: Don’t Be Left Behind, Make Your Company Relevant

stuck in another worldIs your company stuck in the past…is your industry slowly (or quickly) changing?

Have your customers’ needs moved away from your old product/service offerings?

These changes can build up, and then erupt.

Companies become Stuck in Another World if:

  1. They don’t recognize or react to evolving industry forces and trends
  2. They have lost their core strengths and competitive advantages
  3. Products/services have become indistinct commodities

If this is the case, what can you do about it?  For those readers who have successfully dealt with these challenges, what are some successful tactics you can share with the 9Stucks readers who find themselves in this predicament?

Just this summer, conversations I’ve had with CEOs and private equity investors have quickly gravitated to their laments and frustrations about either: 1) customer behavior; 2) new competitors; 3) industry dynamics; 4) product/service offerings; or 5) all of the above.

The chatter is loud. Here is a sampling from the conversations:

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What is this thing called 9Stucks?
9Stucks is a dynamic business diagnostic tool. It identifies nine distinct yet interrelated business challenges that cause a company to underperform.

5 Pesky Plights Hurt a Family Business (Part 5): The Sacred Cows

cowI know you’ve run across Sacred Cows (“SCs”)…we all have in our business careers or personal life.

Dictionary.com defines a Sacred Cow to be: “an individual, organization, institution, etc., considered to be exempt from criticism or questioning”.

This is the final post in my five-part series that explains how 5 particularly disabling conditions can negatively impact the value of a family-owned company. I saved this particular subject for last. I find that the presence of ‘bad’ Sacred Cows is the most emotional and highly personal of all of the previously discussed performance inhibitors found in this series. 

Good SCs, like a popular brand or an established, competitive business practice, are legacies that should not be messed with. However, ‘bad’ SCs:

  • are difficult to change
  • are hard to eradicate
  • can’t be spoken about
  • can have a profound, severe impact on operations

A family-owned company’s bad Sacred Cows wander around these pastures:

  1. People
  2. Products (or Services)
  3. Places
  4. Past Behavior

People: unqualified family members with significant roles

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What is this thing called 9Stucks?
9Stucks is a dynamic business diagnostic tool. It identifies nine distinct yet interrelated business challenges that cause a company to underperform.

Quick! Exit! Uh…not so fast

Exit Planning is a trendy topic, especially for owners of stuck companies who often develop the itch to sell their business when raw emotions push aside rational thought.

Exit Planning means helping prepare the company and shareholders for an ‘exit event’ (aka Sale).

The idea of “It’s time to sell the business” becomes more top of the mind when the owner(s) of a stuck company grow weary of dealing with their own personal collection of stucks. Here are some points of frustration…

Since I have been asked about Exit Planning/Selling a business frequently in the last couple of months, I thought I would share an email I wrote to the CEO of a stuck company who was contemplating selling.  Here goes:

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What is this thing called 9Stucks?
9Stucks is a dynamic business diagnostic tool. It identifies nine distinct yet interrelated business challenges that cause a company to underperform.

Founders: Are You Stuck Before You Start?

It’s exciting to be in the mix at the 2014 Mass Challenge Mentor matching process http://masschallenge.org/accelerator.  
As a mentoring service to the hard-working finalists in the nation’s largest Accelerator, I’m republishing this post.
This post was originally published in 2012; nothing has changed. Enjoy and comment! 

Where Start-ups Get Stuck – and How to Avoid Going There

Between us, my long-time friend (and fellow blogger) Andy Palmer and I have started a lot of companies. We also advise many other companies and look at even more pitches from start-ups.  A shared observation is that while a few start-ups shine (or at least glimmer) and go on to some success, other start-ups seem stuck before they start.  Why?

Here are our observations on where start-up founders get stuck and our advice on how to prevent Stuck situations, presented Q&A style. This post also appears on Andy’s blog.

Q.  Andy, where are the most common places you see founders getting stuck, and why?

Andy Palmer, Start-Up Specialist

I see a lot of founders get stuck at the very earliest stages – by being distracted by fundraising.  I’ve said before – over and over again – founders should focus on developing their business first and not worry about fundraising nearly as much as they would probably like.  It’s natural to be nervous when you don’t have any money in the bank.  But it’s a healthy discipline to figure out how you are going to create value for customers who will pay you instead of spending time thinking about how to extract money from venture capitalists or seed investors.  As an angel investor, I’m always looking for people who are mission-driven and focused on their customers, as Jim says below, instead of worrying about what potential investors might think.

 Q.  So how can entrepreneurs avoid getting distracted by fundraising?

Just focus on your business and your customers.  Wake up every morning thinking about how you are going to create value for your customers. Go to sleep at night considering which of your customers you helped that day and how.  Be maniacally focused on your customers’ needs.  It sounds simple – and it is – but executing this when you are starting from scratch – with no product, no credibility, and no people –  is really hard. It requires all your energy and your concentration.

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