Interpersonal Business

Vol. LI

Dear Manager,

Selling something that has been a part of one’s life for nearly thirty years is certainly an emotional challenge. The process takes months (if not years) to bring to a conclusion. This gives one ample opportunity to pause and reflect on the decision! There are many exit doors along the way that, at times, seem very appealing. In the end, it finally comes down to the required signatures. Fortunately, this decision was clear. The signature felt good.

I believe that the decision to sell one’s business comes over a period of years. In my instance, I had clarified my desire to assume new challenges and responsibilities. There have been many rewards in developing this organization, but it is the people who have brought me the most pleasure. They have and will continue to make this company what it is. In sales, it’s always “where the rubber meets the road, and the quality of the individuals behind the wheel.”

The question in my own mind became, “If I’m feeling the wanderlust of new challenges, am I still the best manager of this organization?” How long could I maintain the level of excellence that all aspects of this agency deserved? I resolved to continue to give it my best effort until the last day and, with a tip of the hat, there would be no regrets.

THE DANCE

The early stage of selling one’s business is not unlike a mating dance. Do you want me? Do I want you? Do you want me more than I want you? How much more do you want me? If for no other reason, the interest displayed and the strategic knowledge to be obtained, were intriguing.

It was my very naive assumption that once the dance was over and the selling agreement was complete, it would be time for a good night kiss. This is not how the selling process works. It is only after the signing of the initial selling document that the specifics of the sale can begin to be ironed out.

A SAFE HARBOR

From the very early stages of conversation, one watches for mine fields in the intentions of the purchaser. Just as it was their responsibility to look into our organization with a skeptical eye, it was my responsibility to do the same. This organization would not be sold at any price without a consistent confidence that a transition would be in the best interest of all parties related to this organization.

I proceeded with a great deal of confidence in the integrity and capabilities of the buyer. In a very short time, it became clear that their resources clearly exceeded my own abilities to continue to meet the growth needs of our agency. A safe harbor had been found.

THE SECRECY

Without any question, the most difficult factor in this process was the secrecy involved. Only very few could know of the option under consideration. After all, at this point it was only an option. Nothing was final until all elements of the sale, transition, and due diligence had been reviewed, adjusted, and signed. This is a very time consuming process for both parties. I also discovered that it was indeed possible for most of the key players from both sides (myself included) to inadvertently schedule back-to-back-to-back-to-back vacations!

To the great frustration of all parties involved, it seemed as if nothing was completed within the anticipated time frame. There were many instances when the possibility of the acquisition falling through was very real. The personal pressure of the secrecy continued to build. Even those I trusted and who trusted in me could not be told, due to standard confidentiality agreements. This aspect was hell, and the most difficult and emotional part of the entire process.

THE UNKNOWN

During the weeks and months of participating in this process, I wrestled with the anxiety of not knowing if the transition would ultimately take place. Looking beyond the sale was totally prohibited. If I were to do so, my eye would be on the sale and not on the many priorities of growing a business. With one call I would discuss my agency’s future planning and programs, with the next I was negotiating a conclusion to my ownership. This is a very, very difficult emotional balance to maintain. Fortunately, I continued to enjoy many aspects of running this agency.

It was in the midst of this already intense and emotional process that one of our largest manufacturers decided to retain their own national sales force. Just what the buyer and I needed to hear! In full credit to the prospective buyer, they did not bat an eye, or suggest that any value had been lost. I knew at this point the depth of their commitment to our agency. I also learned a lot about their integrity.

I did not want this transaction and its announcement to be tainted in any way by the loss of this manufacturer. The confidence our associates showed in our agency and in me was one of the most fulfilling aspects of this process, let alone in my 28 years with the agency. My staff and I now had a mission. In the first two weeks, we mailed out over 100 inquiry letters to major manufacturers. I knew it would only take one. If you buy one hundred lottery tickets, one’s bound to be a winner!

Within weeks, I met with a manufacturer that was tailor-made to meeting the mutual needs of our two organizations. Fortunately I was able to fully replace the volume lost … exhale.

DUE DILIGENCE

It is in this phase of finalizing an agreement that the purchaser has every right and responsibility to expect the seller to “drop his trousers.” All too often, a seller will try to shade the truth, disguising what lies hidden just beneath the surface. The buyer and seller must proceed with obvious caution and an eye for detail and inconsistencies.

One of the most interesting challenges was the preparation of our financial documents. Our business had operated on a cash basis for nearly thirty years, so I found myself totally ill-prepared for a buyer who rightfully expected to review our books on an accrual basis. There was no possible way to send our bookkeeping into rewind to conform to this more complex accounting practice. This situation required additional review and re-review by all parties involved. I found myself having to learn to discuss the financial aspects of my business in a whole new (foreign!) language.

Editor’s note: Next month’s issue will review the technology aspect of this decision, the final negotiations, the importance of professional assistance, the big announcement, and a few words about my future plans.

Personal Regards,

Keenan

INTERPERSONAL© is published by INTERPERSONALBIZ.COM, Keenan Longcor, Editor, ©2009. Duplication of this publication is permitted for both personal and business use. Excerpts may only be quoted with acknowledgment of INTERPERSONAL/INTERPERSONALBIZ.ORG as the source. For re-publication rights, please contact the editor at KEENAN@INTERPERSONALBIZ.COM

Vol. L

Dear Manager,

Whether raising a child or running a business, I believe there is a tendency in the early stages to give too much.

All of us have experienced the joys and rewards of giving. We have also wrestled to regain a balance when we have given too much. By nature, we want to create a better environment for those around us than we may have had. If we were deprived, (or felt that we were deprived), we want to bring pleasure.

We have all seen parents who have provided the trappings of excess. As these children become adults, will they have the skills and motivation, much less the desire, to create their own foundation for success? With only good intentions, we have all, at some point, insulated those around us from the difficult and painful aspects of life. Have we sold the future for the difficult decisions and mixed messages of today?

In the process of creating that “better environment,” I believe we have the potential to establish a reality that can’t always be lived up to. And if it could, would we want it to? It can be very hard to say no, especially if the resources and desire are available to say yes! This is the balance I am referring to, this is the balance that troubles us all.

THE PEDESTAL

As managers, we foster the perception of being in control, in tune, and on time! We are looked up to for guidance, support, understanding, and confidence in the future. Being looked up to feels good! For some we manage, this can also become a crutch. It can lead to an attitude of, “So how are you going to fix my problems?” This reminds me of the child who has just spent their lunch money on arcade games then whines, “But I’m hungry!”

Without question, managers hold a very serious responsibility in creating an environment for success. There will be challenges, setbacks, and disappointments. Our responsibilities as managers are equal to those of the individuals who have chosen to be associated with us. All working relationships are based on mutual choice. Mutual benefit must also exist for any relationship to succeed.

BEING ON CALL

Being a manager is also a choice. It comes with trappings, it comes with responsibilities. This includes not giving too much of oneself. I know managers who have lost all sense of self-worth, as they have sold their soul in order to meet excessive demands. With instant communication available on the cell, online, or vibrating on your belt, when is your life your own?

At times, I am discouraged by the pace we have all been thrust into when technology runs amok. Even when we carve out “personal time,” there is pressure for all of us to stay “on line.” I worry that these pressures have become commonplace and will ultimately become the standard. Being available “24-7” simply can’t continue. I speak from experience.

There have been times in my career that, in retrospect, resulted in little fulfillment and even less productivity. Soon my objectivity, enthusiasm, and energy were simply not at their best. While I could point fingers at the time, only I am responsible for my choices and the outcome.

MORE BALANCE

Have you trained those who look for your guidance and direction to expect that you are available regardless of your personal time and needs? Do these individuals now expect the world to revolve around their sense of urgency relating to you? If you do not hold this aspect of your life in high regard, do you expect others to do so on your behalf? Do you hold a standard of mutual respect for the personal time and privacy of others? I learned a number of years ago that there is very little that cannot wait a day.

I recently read an article relating to the number of managers who have left their profession to “regain control of their life.” High quality individuals are leaving our profession. I am convinced that these individuals have simply never learned to say no. They lament the pressures of management, the lack of quality time for themselves, the stress that has besieged them. It may be easier to walk away from ones career than it is to address the issue. Management holds equal parts of fulfillment and necessitousness (is this a great word or what!), only if we take back control.

My goal in this month’s issue is to stop this snowball in so many individuals’ careers before it is too late. We will only survive as managers if we are willing to assume full responsibility for our personal happiness. It is no one else’s responsibility, there is no shared blame. Management is what it is, our future and destiny are, very simply, ours. We have the ability to save something for ourselves; it is our responsibility to not give too much.

With balance, our careers will flourish, those who are most important to us will enjoy our company, and we, as managers, will enjoy the objectivity to perform at a much higher level of personal satisfaction. This is a difficult transition. Will some individuals misunderstand these objectives, and others be threatened by your intentions? You betcha! Then again, it is survival.

Our local paper recently ran an article about a local developer who had accumulated substantial wealth and power. Though his comments focused on his belief that all excess wealth should be given back to those in our society with real need, they apply to broader aspects of life. “We are doing the greatest disservice to those we care about the most,” he said, “ if they are given a free ride. What personal growth or satisfaction is gained from receiving too much?”

We all have a responsibility to not only give of ourselves, but to save something for ourselves. In an odd sort of way, this reminds me of retired people who refuse to live life to the fullest in order to retain their nest egg for their children. As managers, we must realize the difference between creating opportunity and guaranteeing the future. While somewhat extreme, Wayne Dyer has always enjoyed sharing a favorite tongue-in-cheek quote: “I don’t believe in life insurance … I want it to be a real tragedy when I die!”

Personal Regards,

Keenan

INTERPERSONAL© is published by INTERPERSONALBIZ.COM, Keenan Longcor, Editor, ©2009. Duplication of this publication is permitted for both personal and business use. Excerpts may only be quoted with acknowledgment of INTERPERSONAL/INTERPERSONALBIZ.ORG as the source. For re-publication rights, please contact the editor at KEENAN@INTERPERSONALBIZ.COM

Vol. XXXXIX

Dear Manager,

Most of us began our careers with an entry-level position. More than any others, these two qualities were likely to have impacted our future growth and success. Talent and knowledge pale in the face of …

INITIATIVE

From a manager’s perspective, I can’t think of a greater quality to bring to one’s career. While there are many individuals with initiative, there are far more without. Initiative demands a strong understanding of one’s own position, its relationship to the whole and, most importantly, an awareness of one’s fellow workers.

These individuals are the Radar O’Reilys (of M*A*S*H fame) of the working world. They are simply aware. Their job description is transcended by their desire to accomplish tasks, whether or not it is “their job.” They are consistently one step ahead and resourceful. Rarely are these individuals looking for outright recognition. Their satisfaction is personal, and comes from meeting the needs of the organization.

Typical of these individuals is, “I noticed that you’ve scheduled a meeting for next week. I ordered extra note pads, pastries for the morning break, and will make sure that the conference room is ready.” They do all of this without being asked because they pay attention.

When surrounded by initiative, it allows a manager’s position to shine. These individuals become indispensable, regardless of current internal business trends. In fact, the tougher it gets, the more valuable they become. These people aren’t clock watchers. Their higher purpose is to get the job done, and then some.

As they continue to grow within their own position, they assist others. They are very keen at learning the skills of others, with no desire for credit. Showing an awareness and understanding in the skills of others, they are first to be recognized for new positions that may become available. Their abilities will also challenge others to be at their best.

The contrasting situation for any manager is the individual who simply takes no responsibility for tasks beyond the norm. As managers, we must now consistently define responsibilities that can be accomplished without our need to know. Being responsible for our own day, in addition to the day of those around us, becomes a real drag. Worry creeps in as we speculate about the important functions that may not have been accomplished by those around us. Is it really easier to do it all?

I’m sure we’ve all been on both sides of this equation. We must continue to reach out for those individuals with this very intuitive quality. In application, it simply doesn’t get any better! You might be wondering what more we could possibly ask. How about a strong sense of

AMBITION

I believe ambitious individuals, and often those with strong initiative, have gotten a bad rap in recent years. If you are labeled as ambitious, it suggests to some that you are willing to trample your peers to attain your ultimate objective. I am not referencing this aspect of blind and self-serving ambition.

Ambition, like initiative, can be highly productive and positive. We have all heard of the high-level manager or owner of a business who began by sweeping the floors. This person’s goal wasn’t to just clean floors, it was to be the best sweeper in the Floor Sweeper Hall of Fame!

Even I would have a hard time in swallowing it if you believed this individual had a vision of one day being President of the company. Was this person’s sweeping expertise noticed by those in a position of authority? Did this individual rise over others with greater tenure and less ambition? Should this person have apologized for having been of greater value to the company? Should this person have recognized “their place” and remained forever satisfied with a role as a sweeper?

Those with positive ambition are sensitive to their surroundings. They have the ability to bring out the best in themselves and in others. They lead by example rather than at the expense of others. They are often the first to recognize high achievement in others. Those around them either see a similar opportunity for themselves, or grumble their way to self-imposed mediocrity.

Perhaps being an overachiever is the best way to describe these individuals. Those who see these individuals as “brown nosers” simply don’t understand the mind set of an overachiever and never will. These individuals listen to a different voice, one deep down in their gut.

Most of us grew up working for someone. With good fortune the die was cast relating to these important qualities. We all learn best by example. As managers we can assist in their development, but there has to be a receptive student for these qualities to find a home…

The passion to advance and take greater advantage of one’s skills is inherent to success. While as managers we hold the torch, we must not compromise our own standards to accommodate the lowest common denominator. I believe initiative and ambition are two qualities that are rarely addressed in an interview or in the ongoing training process of our
staff members. It is as if we simply sit back and hope that these qualities will reveal themselves.

I believe it may be time for all of us to address these skills in very specific terms and surround ourselves with those who understand. Address their importance by emphasizing them as fundamental qualities that are routinely expected of their position within the organization. Think ahead of the game – there is no greater way to get noticed. Simply putting in one’s hours, and taking little responsibility for one’s position relating to the whole, is not good enough in today’s world.

On an ongoing basis, we must continue to acknowledge, reward, and promote those individuals with initiative and a positive sense of ambition.

Personal Regards,

Keenan

INTERPERSONAL© is published by INTERPERSONALBIZ.COM, Keenan Longcor, Editor, ©2009. Duplication of this publication is permitted for both personal and business use. Excerpts may only be quoted with acknowledgment of INTERPERSONAL/INTERPERSONALBIZ.ORG as the source. For re-publication rights, please contact the editor at KEENAN@INTERPERSONALBIZ.COM

Volume XXXXVIII

Dear Manager,

Certainly aspects of business have changed over the years. Good business and the standards to retain it have not. “Big is much, much bigger today.” But this was true ten, twenty, fifty years ago as well. The stories of “when I was a kid,” and the changes that have occurred, have gone on for multiple generations. While very little actually changes, the dynamics of everything change again and again. The fundamentals of ethics, by comparison, have changed very little. I believe that today’s competitive environment demands an even stronger sense of ethics than in past generations.

The baggage of cynicism comes with a lack of ability to trust anyone, even those who maintain a very high ethical standard. A cynic has compromised their willingness and ability to discern the difference! One person’s cynical approach has the potential to carve a wide path of doubt for those who lack the disposition to define their own conclusions. One bad apple …

THE EASY WAY OUT

It is certainly easier to cast aspersions on an entire segment of civilization than it is to set an example, expect high standards in others, and resolve to improve the standards of others with the process.

Are all businesses ethical in their practices? No. In order to create a positive environment and potential for change, we must first show trust in the most positive aspects of human nature. How are we to know, with absolute certainty, the ethical standards of another? At first blush, all individuals, all business, must be assumed to be morally and ethically sound. With this foundation, all of business can be judged and held accountable.

Given time, all animals will show their spots. Only then, will those who choose less-than-ethical standards be defined. Only at this given moment will our own ethical standards be tested. Accept the spots, challenge them, or move on.

Cynics show their true colors in all areas of business. Those who do not share their attitude are often caught flat-footed by the cynic’s potential to create chaos and mayhem. We’ve all known individuals whose focus is centered around their cynical approach. I always wonder what the outcome would be if their destructive efforts were focused instead towards a more successful and constructive challenge.

Those who take themselves out due to their condemning perspective are left with few options but to align themselves with less-than-ethical working environments. I have always believed that those who look for trouble will be drawn squarely back to their self fulfilling prophecy. Birds of a feather, cynics of a feather, find their just rewards. And the beat goes on!

I’m not suggesting that we live in a Mr. Rogers world. If we don’t maintain some sense of innocence and idealism (yes, just like when we were kids), standards become blurred. Everyone has the understanding and ability to be trusted. We must collectively hold the standard, and expect others to measure up. Only then can we find the best in our work environments.

Over the years I’ve been cautioned regarding the ethics of certain individuals. In practice, I’ve very rarely found these concerns to be relevant. Perhaps in my case they’ve held a higher standard. If this is so, then all parties have benefited for the relationship. The idealist in me would like to think this standard has helped them develop a frame of reference they’ll bring to their future relationships.

Our own attitude is essential to creating a greater ethical standard in management. When the motives of highly ethical individuals I’ve known are quizzed or second guessed, they simply have no foundation from which to respond. These individuals have no place in their thought process for a rebuttal, let alone an insight into the accuser’s mind-set. When conversing with a cynic, it is a pure waste of time to lower one’s standards to acknowledge and dignify their concerns and perspective.

As managers, we have no reason to accommodate cynical and suspicious speculations. If our intentions are consistently in question, either it’s deserved, or we have surrounded ourselves with individuals undeserving of our valuable time and expertise. In either instance, change is now required! Regardless of their talent, these individuals impact management’s credibility, the morale of one’s organization, and ultimately the organization’s roots and foundation. Cynicism, let alone unethical business practices, is truly a cancer of the most malignant form.

There are unethical elements in all aspects of life. This can be defined, this can be quantified. My greater concerns are for those desperate individuals whose cynicism plays a much greater role in day-to-day business operations. Their numbers are much greater, their hazard much greater, than the issues they purport to reform.

QUALITY TO THE ROOTS

In today’s challenging employment market, the lower spectrum of the job market takes on a greater visibility. Rocks are turned over and cynics crawl out. As managers, we must have the resolve and the patience to avoid the temptation of hiring purely on talent and less on character. As a voice with over thirty-five years of experience, I have found the price to be extraordinarily high.

The quality of our organization is always judged by the character of those with whom it is associated. Our ability to maintain these relationships is, in many cases, determined by the quality of one’s peers. The first clue in determining the ethics of an organization is to look beyond management to its roots: its staff members. All the answers are available to those who take a moment to listen.

The high road is essential to all aspects of business. Rather than subscribing to “prove to me your high ethical standards,” I would suggest “prove to me otherwise.”

Being able to manage from a perspective of face value and benefit of the doubt is essential to managing a business. Managers will make more mistakes than they choose to admit. Regardless, management deserves to be judged purely and simply on ability and performance, not on motives, personal agenda, or self serving egos.

Expecting the best in others will surround us with those who deserve to have the best expected of them.

Personal Regards,

Keenan

INTERPERSONAL© is published by INTERPERSONALBIZ.COM, Keenan Longcor, Editor, ©2009. Duplication of this publication is permitted for both personal and business use. Excerpts may only be quoted with acknowledgment of INTERPERSONAL/INTERPERSONALBIZ.ORG as the source. For re-publication rights, please contact the editor at KEENAN@INTERPERSONALBIZ.COM