The case for coaching CEO's: As in sports, so in business

Businessweek.com's Ira Sager interviews the Miles Group's Stephen Miles about why so few CEOs seek out business coaching to develop their leadership and management skills. A recent Stanford Graduate Business School study found that almost two thirds of CEOs do not get outside advice or coaching on their businesses. Part of the reticence to seek out counsel and advice, Miles says, is that CEOs view business coaching as an admission of inadequacy by asking for help. A comparison to top performing athletes demonstrates the necessity for coaching and leadership skill development at all levels of the game, whether in sports or in business - and especially at the top where so much is at stake! Trusted business coaching and advice about leadership is invaluable to those at the helms of business ventures, and the ability to seek out advice and coaching is one marker of a great leader. Contact Blackbird Business Owner Support Services to discuss your business coaching or leadership development needs and be a top performer in your field!

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BDC issues first–ever Canadian study on the impact of advisory boards

The Business Development Bank of Canada released an exciting new report this year on the effects of small and medium sized enterprises implementing advisory boards. Advisory boards typically consist of business professionals that meet regularly with a group of local business owners to provide experienced advice.  Despite the demonstrated effectiveness of advisory boards on improving productivity and profitability many businesses still don't utilize this valuable resource. The BDC's new report presents some startling facts that vindicate the 6% of businesses that do utilize and benefit from advisory boards. For example, between 2001 and 2011, "average annual sales of business with an advisory board were 24% higher than those of a control group of other businesses, while productivity was 18% higher." That's a business strategy worth investing in! Contact Blackbird Business Owner Support Service to see if joining a Blackbird business advisory board in your community is a good fit for you.

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For greying entrepreneurs, ’50 Hurdles’ is a lifeline

'50 Hurdles' points out the abundance of obstacles in the way of succession, and gives business owners the context, insights and sheer nerve to address each one in turn. (Photo from the Financial Post)

With the rising tide of retirement-aged business owners Canadian entrepreneurship is at a crucial junction. The question is how to retire gracefully and leave your hard-earned business in someone else's capable hands. The Financial Post's Rick Spence recommends Ian R. Campbell's 50 Hurdles: Business Transition Simplified, a not-so-simple book about how business succession can be done right, from documenting unwritten policies and dealing with entitled family members to hiring a transition consultant. 

Read the Article on the Financial Post here!