Fri, 30 Jul 2010 14:17:11 -0800WeeblySun, 13 Jun 2010 09:13:07 -0800http://www.ericgilboord.com/5/post/2010/06/the-easiest-500-you-will-ever-make-while-helping-someone.htmlEarn a $500 Bounty for each company you refer that attends my Treasure Map Marketing Plan workshop. http://tinyurl.com/ljc8l2]]>Sun, 13 Jun 2010 09:12:02 -0800http://www.ericgilboord.com/5/post/2010/06/it-pays-to-know-what-you-dont-know.htmlhttp://tinyurl.com/EG-Tips-June-10-2010 An article from Eric. Read, enjoy, pass it along and comment. ]]>Sun, 13 Jun 2010 09:07:45 -0800http://www.ericgilboord.com/5/post/2010/06/post-title-click-and-type-to-edit11.htmlAttention large business here is the secret to a winning relationship with small business. Do what you said you will do, when you said you would do it, for how much you said you would do it. Oh and do not send me countless messages to try to win me back when all you had to do was treat me properly in the first place. Eric ]]>Sun, 13 Jun 2010 09:03:34 -0800http://www.ericgilboord.com/5/post/2010/06/interview-with-seth-godin-about-tribes.html“Seth Godin - A Podcast About Tribes (47 Minutes)” → http://fcon21.biz/206/ I'm listening to it now. Learn and enjoy, Eric]]>Sun, 13 Jun 2010 09:01:27 -0800http://www.ericgilboord.com/5/post/2010/06/seth-godin-hope-and-the-magic-lottery.html  Seth's Blog: Hope and the magic lottery http://bit.ly/aBohSS It's not really as complicated as we (over)think it is. Eric ]]>Mon, 31 May 2010 09:20:36 -0800http://www.ericgilboord.com/5/post/2010/05/free-e-copy-of-my-book.html    http://tinyurl.com/2acq5mb It's my birthday May 31. Download a free e-copy of my book. Pass this free gift to anyone & everyone. Enjoy, Eric]]>Sun, 23 May 2010 11:23:47 -0800http://www.ericgilboord.com/5/post/2010/05/this-is-the-book-everyone-is-talking-about.htmlAttaining Your Desires by Genevieve Behrend http://tinyurl.com/2al2mfx A gift for all to enjoy. Eric]]>Thu, 20 May 2010 16:08:57 -0800http://www.ericgilboord.com/5/post/2010/05/post-title-click-and-type-to-edit9.htmlA palindrome reads the same backwards as forward. This video reads the exact opposite backwards as forward.  Not only does it read the opposite, the meaning is the exact opposite..

This is only a 1 minute, 44 second video and it is brilliant.   Make sure you read as well as listen...forward and backward.

This is a video that was submitted in a contest by a 20-year old.   The contest was titled "u @ 50" by  AARP. This video won second place.. When they showed it, everyone in the room was awe-struck and broke into spontaneous applause.  So simple and yet so brilliant. 
 
Take 2 minutes and click here Lost Generation

]]>Thu, 20 May 2010 08:09:29 -0800http://www.ericgilboord.com/5/post/2010/05/looks-like-gates-changed-jobs-mind-could-you-rethink-what-you-are-doing.htmlhttp://gizmodo.com/5541969/bill-gates-told-steve-jobs-about-the-ipad-in-2007

]]>Wed, 12 May 2010 10:54:28 -0800http://www.ericgilboord.com/5/post/2010/05/selling-or-handing-down-the-business-8-things-to-think-about.htmlThe Best of Both Generations

By Eric Gilboord 

There has been discussion lately in the media about succession management. That is when the younger generation begins to take the reins of the business and the older generation moves toward a less involved, coaching type of role. The new management may have been groomed to take over the family business, in some cases for their entire adult lives. The older originators of the business have tried for years to educate, share their experiences, impart their wisdom and mould their successors.In some cases the new generation will continue to operate the business as it has run in the past – a safe short-term measure. 

This may have worked for previous generations, but circumstances are changing at a dramatic pace. We are in a time of new technology, new needs, new ways of approaching problems. E-commerce, database marketing, big box stores, branding and many other new terms are not only entering our small business vocabulary, they are taking over. 

Running a successful small business is a little more complicated today than it may have been for the previous generation. As the new management you may find it necessary to fill in your knowledge/experience gaps with outside expertise. This doesn’t mean you ignore the wealth of experience the older management group has, but blend the 2 outlooks together. 

The older management may be set in their ways, a little tired and perhaps a little too comfortable with a particular style of conducting business that has provided them with years of triumph, however usually tempered with a few bumps in the road. 

The younger management is full of energy and new ideas ready to reinvent the business. The reality is you need to blend the best of both generations. Preserve the success from the past, incorporate the new opportunities and build for the future. Whether you are handing over the reins or you are the fortunate recipient of a mature business here are some points to consider during the transition period.  A reminder to the older generation- not everything old is good nor is everything new bad and to the younger generation- not everything old is bad nor is everything new good. Take advantage of the opportunity and enjoy the best of both worlds. 

1.      Don’t put someone in charge because they are the next in line. Many well known, successful businesses have survived all kinds of adversity while succumbing to the lack of a strong new leader. If you realize this is what you are in fact doing, support them with a solid team.   

2.      Keep it professional not personal. Business discussion belongs in the boardroom not over the family Friday night dinner. The last thing the new management wants or needs to hear is “I’ve been doing this since before you were born”. The older management also does not need to hear “ It’s a new world the old ways don’t work”. Discussions about customers, distribution channels, new products or services, marketing and staffing should remain unbiased and based on real world information. How much has this customer ordered in the past year not what they did in the beginning. What exactly are the sales your rep is doing Vs he has been with me for 40 years.  

3.      Whatever methods you use to gather information in order to take the business forward make sure you commit it to paper. Many small businesses today are preparing sales and marketing plans. They are sourcing outside professional help and using the planning process to gather information, evaluate ideas and formulate plans. Make sure you incorporate the varying past experiences and new ideas of your staff when building plans for the future.  

4.      Be clear where success and failure came from in the past. Separate old war stories of the glory days from what actually happened. That first big order may have been more luck than expertise. 

5.      Don’t abandon old customers until they have been replaced by new ones. A penny in the hand is worth more than all the potential orders in the world. 

6.      Transition older customer relationships to the new generation. Look for opportunities to match up second generation customers with your new management team. 

7.      Get involved in industry associations. Build your own profile within your industry. Bring a combination of experience and new ideas to the table. 

8.      Let go. If you have made the decision to turn over management to the next generation, let it go. They will make their own mistakes and enjoy their own successes, just as you did.]]>