Welcome to Your Business Owner Blog Community

a community supported by Aileron.

Common Mistakes Made In Owning And Transitioning A Business

November 12, 2014

During my years of consulting with family-owned businesses, I have encountered a number of mistakes made by the older generation when they have tried to transition their company to the next generation. During the transition, they were not aware of making any mistakes, only to find out in later years they had wished things were done differently. In consulting with families today I try to warn them against some of the pit falls ahead of time by looking at what the future result would be if they do not change their current path.

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Les Banwart

About Les Banwart

For nearly 40 years, Les has specialized in meeting the specific needs of family-owned businesses by facilitating family meetings in helping families through a transition. He is the CEO of Banwart Strategies, and has been affiliated with Aileron since it’s inception in 1996. Prior to Aileron, he served as president of CYMI, Ltd., a family office located in Dayton, Ohio, which hired him to build the business from the ground up. Prior to CYMI, he was a partner at Arthur Andersen, where he served closely-held businesses for 25 years. www.banwartstrategies.com

When Hands-On Experience Isn’t Enough

October 28, 2014

I started working in the supermarket business in 1974 when I was 16 years old, bagging groceries and stocking shelves at Gowan’s IGA in Poplar Bluff, Missouri.

Eventually, I became assistant store manager, and in 1981, I became the co-owner of a grocery store in Dyer, Tennessee. Two years later, I bought out my partner, and my wife and I have since grown our business to include eight rural-town supermarkets in West Tennessee.

Those years in the trenches were an incredible education—especially for someone who didn’t go to college or have the advantage of learning from a family business.

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Joey Hays

About Joey Hays

Joey Hays is the owner of Food Rite Stores in rural west Tennessee and has been in the grocery business for 33 years. He and his wife Jeanie have two children and two grandsons.

A Tool To Help Scale Efficiently

October 15, 2014

Even the most efficient, productive employee occasionally wishes for a few more hours in the day to manage the demands of operating a business.

Good news—you don’t need a fairy godmother with a magic wand. The extra time you’re wishing for might be hiding in a process that’s taking longer and is more complicated than it needs to be.

At Aileron, we recently found several hours squirreled away in our day pass program, which allows non-campus members to use our facility.

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Krista Powell

About Krista Powell

As the daughter and granddaughter of entrepreneurs, Krista has seen firsthand the challenges that small business owners face, and is passionate about professional management raising the quality of life for business owners, their families, and their organizations. In her role as Aileron’s Strategic Development Specialist, Krista supports the President in ensuring that we practice what we preach, and live professional management internally.

Changing Lives Through Professional Management

October 8, 2014

Prior to professional management and running my own business, the scope of my reach was minute, and microscopically impactful. Despite having a vision larger than myself; I had no idea how to find the path to bring about the change I envisioned in myself and others. Working for a corporation, I was surrounded by people who were content living under status quo because they didn’t believe they could be anything different. Aside from the simple fact that they didn’t share my entrepreneurial spirit; they almost never made a decision on their own – putting them in vulnerable positions, and squandering their potential for innovation.

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Jenni Lough Watson

About Jenni Lough Watson

In 2009, Jenni launched Swiftdogz™ Inc., in Concord, NC where “Helping Dogs Make Better Decisions” is delivered through a proprietary process called Relative Space℠. As a result of implementing professional management, Swiftdogz has expanded into other states, including a spoke location in Dayton, OH. Jenni is a Licensed Peerspectives Facilitator through the The Edward Lowe Foundation. Jenni is a member of the Piedmont Prime Time Community Band, playing trumpet, and serves on their board as a member at large. She is accompanied by Ace, a Medical Alert Service Dog, to which she personally bred, selected and trained.

Anyone Can Cut Costs, Look Good, And Go Out Of Business

October 1, 2014

Years ago, a “friend” who thought he was a mechanic, as did I, offered to improve my car’s performance. He removed parts of the engine, fiddled around with them, and reassembled them. When he finished, I saw some of the engine parts on the ground next to the car. He said that they were not needed and did not know why these extra parts were put there in the first place. The car ran for a short time and then it died.

Any business, driven by today’s financial numbers, can make performance look better in the short-term by reducing the number of “parts” such as by laying off employees, deferring maintenance, sourcing to the lowest price supplier, even selling parts of the business  –  but what about tomorrow?  How will these actions that reduce visible costs affect the invisible costs produced by a system whose capability to produce quality products and services has been degraded? What will happen to the reputation of the enterprise as customers don’t return?

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Ed Baker

About Ed Baker

Ed was with the Ford Motor Company for 20 years, including five years as corporate director, quality strategy and operations support where his responsibilities included the “orchestration” of W. Edwards Deming's consulting to the company. Ed assisted Dr. Deming in more than 70 public and private seminars and was a trustee of the W. Edwards Deming Institute. He has consulted to a variety of business and government organizations, has written many articles about process and system improvement, and is working on a book about Dr. Deming’s system of profound knowledge.