NOFB Blog

Creating the Ideal Customer Experience Many marketers have been taught the concept of the marketing funnel. The idea being that you bring leads into the top of the large opening in a funnel and push the ones that become customers through the small end. The problem with this approach is it turns all the focus on the chase. Bill Brelsford happens to think that real payoff in marketing comes from expanding and focusing your thinking on how to turn a lead into an advocate for your business. When you overlay our definition of marketing – “getting someone who has a need […]

The Mystery or the Value of Exit Planning ONE OUT OF EVERY TWO BUSINESSES IS FORECASTED TO CHANGE OWNERSHIP IN THE NEXT TEN YEARS! Experts say that 80% of the companies up for sale,FAIL TO SELL. Over 90 % of business owners have not developed written exit strategies and 75%don’t have any plans! Over 75% of business owners, who do sell, are dissatisfied after the sale! Failure to plan destroys businesses and legacies. Learn what a good exit planning strategy process looks like and how to get it done, so that owners can get back in control of their life and […]

  How rapidly is your world changing? It has been said in the past, that the only thing constant in today’s world is change.     Change is inevitable.   Yet, how many of us really like, or are capable of managing the change? What is the reaction or process or thought when we are confronted by change? In many situations change is initially denied, ignored, resisted or ‘kicked down the road’. This is when the leader must be astute and help the family and the business understand why the change is critical, how the change will impact them, the value of […]

  Every single one of us are in the business of moving others.  At work, we aim to move our team members to action, move our customers to extend trust and confidence in us, move our suppliers to deliver consistently.  The list goes on and on and it doesn’t stop when we get home.  We’re selling our children on the benefits of being honest, we want them to take responsibility and make healthy choices.    Essentially, we are cajooling, convincing, persuading, influencing, twisting arms, and sometimes dragging them kicking and screaming.  Even when we would like five whole minutes of peace […]

  The Guru and Father of management, Peter Drucker defined eight characteristics for effectiveness:            – Asking “what needs to be done?”          – Asking “what is best for this organization?”          – Develop Action Plans          – Take responsibility for actions and decisions          – Take responsibility for communicating to all stakeholders          – Focus on opportunities rather than problems          – Run productive meetings          – Think and act in the “WE” rather than the “I”   How are you doing on this scale of effectiveness?         Resources for the Family Owned Business ———————– Read […]

    Legacy Videos of Family Businesses Can Touch Future Audiences   Join world-renowned videographers and storytellers Pam Pacelli Cooper and Rob Cooper of Verissima Productions for a webinar to understand what you need to know in order to create a video legacy for your family business.   For over ten years Pam and Rob have been documenting significant historical events, promoting the goals of organizations and companies, and preserving the stories of individuals, beloved places, families and family businesses…creating a correspondence with the future.   Whether you want to tell the story of a person, a family member or your […]

   The Baby Boomers are retiring, or some want to retire. Who will fill their shoes to continue building the Family Legacy?   Leadership Development, to avoid the Peter Principle (being promoted beyond the level of competence), is the critical work for Family Business Leaders. To pass the ultimate test of preparing the NXT Generation requires work, planning, work, and planning.   There is not necessarily a “one size fits all” development plan for the NXT Generation. It is important to create both Formal and Informal learning opportunities. Creating Individual Development Plans (IDP) requires a deep understanding of the learning style […]

  Join us for a discussion to learn how the Next Generation can afford to buy the Family Business.   Most closely-held, family-owned, private businesses employ the owner(s).   Dollars that the business allocates to an owner are not very tax efficient or cost effective. They are not deductible and the value associated with them is included in the owner’s taxable estate.   The same dollars allocated to selected key employee(s) are either tax deductible or estate tax free.   Herb will define and explain a process that shows conventional wisdom of the seller “bonusing” the necessary funds to the buyer […]

              I recently read an article that described the recent phenomenon that many businesses now employ as many as four different generations in their company.                These include:        1.     Traditionalist (born between 1925 and 1942)      2.     Baby Boomers (born between 1943 and 1960)      3.     Generation Xers (born between 1961 and 1981)      4.     Millennials (born between 1982 and 2004)   If this phenomenon can be found in businesses in general, it certainly also applies to family businesses.  How exciting for 3 or 4 generations of the same […]

    Telecommuting has suddenly become a hot topic these past few weeks as Yahoo’s CEO Marissa Mayer announced through a HR Memorandum to her employees that there would be no more telecommuting at Yahoo – period.  Shockwaves reverberated throughout the media and business world, but I’m sure they were mild in comparison to the shockwaves that must have been felt at Yahoo.  Let’s face it – Yahoo is an internet company.    Shouldn’t they be leaders in telecommuting?  Apparently not.               Marissa’s memorandum indicated that there is a need for all employees to be under the same roof in […]