"Good to Great"

When I became a member of my company's Board of Directors, I (and the other new members), received a gift from one of the other members. It was the book "Good to Great", by the same author as "Built to Last". Since I had great admiration for the person who gave it to me, I read it from cover to cover - several times. As with any good business model book, you take the best and leave the rest. In my case, I felt there was a lot of things that could be applied to my own company. I studied it, I followed it, and I got most of my team to believe in its wisdom. I'll be talking a lot about elements of "Good to Great" as we journey together. I thought you'd like to know in advance so that you can read it for yourself. I promise that you'll get at least one good thing from it.

In the Beginning... Touched by an Angel (or 2)

In my first post, I revealed that my mother suffered from debilitating post-partum depression. As a result, she would not care for me. She allowed me to lay in my cradle untouched and uncared for. My aunt Yvonne shared this with me after my mother's death (my mother died at the age of 54 - my Aunt told me this a few years ago). She told me the story of how my beloved Grandmother would come over to my house when I was born on her lunch hours from work to care for me. She'd change me, feed me, and rock me. When my Grandmother was not available, my Aunt would pitch in. My Grandmother ended up to be my lifetime savior in many ways which you may hear about throughout my blog. But I think it all started the day I was born and it continues today as I believe she is with me in spirit always. My Aunt is still alive and I love her dearly, but I don't see her very often since she lives so far away. I still talk to her on the phone on the days that she remembers me. I did get a chance to see her recently though and I am very grateful. You see, my aunt now suffers from Alzheimer's, something my Grandmother suffered through at the end of her life too. I am sad that I have to witness both of my saviors going through this horrible affliction. I am sad too for my Uncle. Luckily, he is a wonderful person and takes exceptional care of my Aunt. Even now, they remain a very loving couple. And for that, I am also grateful.

What IS "24/7" anyway?

It's obvious that no person actually works 24 hours a day, 7 days a week. So what does it really mean? From my experience, working 24/7 means that there is not a waking moment in which you don't have your job on your mind - either in the foreground or background. In may case, as a CEO/COB, it meant that the welfare of the company (and most importantly the people), was always on my mind. I thought of myself as a COB/CEO first and all other duties came second. This is because as COB, my first responsibility was to the shareholders - period. My first responsibility as CEO was to the company. You can see how these two issues must live side by side as one supports the other and visa versa. However, as both, my first duty was to the shareholders, as it was for every other person who served on my Board.

What 24/7 did not mean to me was that I was forever and always present so that every employee (in my case, the employees were the shareholders), could see me on a constant and continuing basis. However, it did mean that I needed to have a sufficient presence and to be available to every executive officer and more importantly, to my Board, at any time on any day. And, I was.

Caution: Perception is reality, as they say, and to insure that everyone feels like you're working 24/7 in    an executive role, trust me, they need to see you. Unfortunately, this is not always best for the business. After all, there are trips to make, outside people to see, events to attend, and outside projects that will need your attendance. Sound like an impossible situation? It is.

Insure that your Board knows your schedule and fully understands your 24/7 commitment, and agrees that your schedule, whether in or out of the office, is in the best interest of the shareholders. Then, you must get your executive team to agree with the same as it serves the best interest of the business. Two distinctly different challenges.

Beware: You have no security of position unless your Trustee and the bank fully support you. (There are countless possible scenarios where this would not matter. One such situation that comes to mind is when the shareholders have the majority vote and are afforded the right to vote on your election as a Board member. Typically, but not always, the Board elects the Chair - but not always.) Everything here also hinges on what type of relationship you have with the bank, what type of contracts/agreements are in play (if it's not in writing, it doesn't exist), and what type of debt load you have. (Being well-collateralized does not necessarily change this.) And, you need to fully understand the type of power that the Trustee holds.

Confused yet? It's simple: Trust no one. If you are "king of the hill", there will always be someone who would like to knock you off the hill. It's life - it's reality - it's business - and, it's ugly.

In the Beginning...

I was born full-term to a mother who smoked, drank, and suffered from clinical depression, not to mention debilitating post-partum depression. I weighed in at 5 lbs 11 oz and was the first born of 4 children. I'm still "petite", but I'm stronger than I look. Just ask all of the attorneys who have gone against me!