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Recently Published
30 Second Ideas
- Taxpayers Beware: IRS Impostor Faxes
- You’ve Got Two More Days to File Your Tax Return
- 2012 Standard Mileage Rates
Accounting Updates
- New Consolidation Standards — Who Put the VIE in Related-Party Lease Arrangements?
- Proposed Changes to Revenue Recognition Standards — Only One Proud Standard Rather than Dozens
- Proposed Changes to Lease Accounting Standards — The Classic Cookie-Cutter Standard Is Likely to Be Retired
Alerts
- Defined Value Clause Win for Taxpayer — Wandry v. Commissioner
- Optimize iCOLI Policies to Benefit Your Company
- Beware: New Form 8938 - Statement of Foreign Financial Assets
Articles
- Middle-Market Manufacturing M&A Quarterly Review — Manufacturing-Sector Update, May 2012
- Middle-Market Manufacturing M&A Quarterly Review — Multiples, May 2012
- Industry Snapshot: Metal Fabrication
Business Surveys
- Survey of Chicago Area Business Leaders, September 2009
- Survey of Advisors to Family-Owned Businesses
- Survey of Chicago Area Business Leaders, February 2009
Construction Edge
- Managing Indirect Costs Calls for a Keen Eye ... and a Plan
- An Escalation Clause Can Help Curtail Materials Cost Woes
- Four Ways Dishonest Employees Can Steal Your Money
Healthcare Edge
- Specialty Snapshot: Medical and Diagnostic Laboratories
- Cash Balance Plans For Professional Practices
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
Insurance Edge
- Preparing Your P & C Insurance Company for an IRS Audit Before It Comes
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
- Optimize iCOLI Policies to Benefit Your Company
Legal Talent
- Varying Rates for Contract Attorneys: Caveat Emptor!
- Top 10 Reasons to Hire Temporary Help in a Down Economy
- Five Organizational Tips for Staffing a Document Review Project
Manufacturing Edge
- Using Your iPad for Business: Greater Portability, Flexibility, and Organization. Fewer Trees.
- A Year-End Planning Checklist for Every Manufacturing Company and Distributor
- Goodwill Impairment Testing — Simplification May Be Possible
Market Update
- Middle-Market Manufacturing M&A Quarterly Review — Manufacturing-Sector Update, May 2012
- Middle-Market Manufacturing M&A Quarterly Review — Multiples, May 2012
- Industry Snapshot: Metal Fabrication
Not-for-Profit Edge
- Benefits of Conducting a Fraud Risk Assessment — Part Three
- Data Security Breach — This Is Not Just for Dot.com Companies
- New Developments: OMB A-133 Audits and Fair Value Measurements
Quick Links & Good Ideas
- Quick Links and Good Ideas, January 2011
- Quick Links and Good Ideas, November 2010
- Quick Links and Good Ideas, September 2010
Strategy Insights Blog
- Measuring the Success of Your Strategy, Starts with Asking the Right Seven Questions
- Leadership Lesson from the Military: Put Away Your Iron Fist and Empower Your Troops
- The New Digital Reality: Your Brand Is No Longer in Your Own Hands
Strategy Insights Blog
Measuring the Success of Your Strategy, Starts with Asking the Right Seven Questions
Most strong leaders realize that planning is a process, following an ongoing cycle, rather than a “one and done” event. The planning cycle often includes a variation on the following steps: analyze, plan, execute, measure, and adjust.In “Stress-Test Your Strategy,...
read moreLeadership Lesson from the Military: Put Away Your Iron Fist and Empower Your Troops
We speak often about different leadership models and how leadership needs to be adaptive in order to be successful.In 2006, I had the pleasure to help organize a symposium at the Kellogg School of Management titled “Leadership and Execution: Lessons...
read moreThe New Digital Reality: Your Brand Is No Longer in Your Own Hands
Last week I heard an engaging presentation by Mohanbir Sawhney, a leading professor at Kellogg and the Director for the Center of Research Technology and Innovation. The presentation was titled “Customer Engagement and Brand Building in a Digital World.”Sawhney spoke...
read moreTurning Tough Times Into Triumph
Keith McFarland, author of The Breakthrough Company and Bounce and a regular columnist for Business Week, spoke at a Chicagoland Chamber of Commerce event on September 30th.Instead of outlining the findings of either of his two books (“So you will...
read moreWhy You Should Never Lose on Price—And How to Make Me Right
We wanted to share with you an article that one of our colleagues, Stuart Baum, Director of Marketing for Blackman Kallick and President of LargerPond Marketing, recently had published in the Perimeter Advisors Online Insight Newsletter.AYSO Region 423’s Referee Administrator...
read moreA Great Strategy is Like a Stream. Except It Flows Both Ways.
One of the questions posited in “The Execution Trap” (by Roger Martin in the Harvard Business Review, August 2010) is . . . Can you “draw a line in the organization above which strategy happens and below which execution does?”...
read moreFamily business survey says . . . the recovery is moot
Blackman Kallick & FFI’s "Adaptability and Innovation" survey finds that family-owned enterprises are acting, not waiting.We have been speaking with a number of financial-market prognosticators over the last few weeks. As usual, the opinions run the range from cautious enthusiasm...
read moreFamily Business Generational Transfer Statistics Can Distort Reality . . . and Opportunity
We’ve all seen the statistics: only about 30% of family businesses make it to the second generation and, of those, only about 10% make it to the third. But, cold statistics can hide or color the truth. Certainly, people working...
read moreWhy Have Excellence When You Can Have Mediocrity?
We spend a lot of our time talking and writing about ways to improve teams and organizations. But we were recently handed a copy of a May 7 Business Week article, “5 Ways to Ensure Mediocrity in Your Organization” and...
read moreWhen the Going Gets Tough, the Tough Become Customer-centric
Blackman Kallick Director of Marketing, Stuart Baum, advises how companies can use "customer centric-ity" to thrive during turbulent economic times. Harvard Business School’s Ranjay Gulati recently spoke at an Association for Corporate Growth–Chicago event entitled “Roaring Out of the Recession:...
read moreIt Takes More than Current Compensation to Keep the Right People on the Bus
A sign that the recovery may be gathering steam was reported in the May 3 Wall Street Journal article, “Raises Creep Back onto the Salary Scene.” In the article, Dana Mattioli provides examples of organizations like BASF Corporation, PricewaterhouseCoopers, Rockwell...
read moreESOPs: “Another” Way of Doing Business
Last month we attended a packed First Friday Club of Chicago event featuring Mary Sullivan Josephs, Executive Managing Director of Evergreen Private Capital Advisors speaking about Employee Stock Ownership Plans (ESOPs).Mary recently founded Evergreen as an investment banking firm focused...
read moreAdaptability and Innovation - Share Your Experience
In order to better understand the economic and business issues with which we were confronted and the ways that companies adapted and reacted to them, Blackman Kallick has launched an “Adaptability and Innovation Survey.”This survey is being conducted in conjunction...
read moreAcquisition Integration: Culture versus Strategy
David Spitulnik, Blackman Kallick’s Director of Strategic Services, recently participated in a panel focusing on the integration of business acquisitions at the Midwest Private Equity Conference in Chicago. Also participating on the panel were Frank Cheswick, Aldine Capital Partners (Introductions);...
read moreKids, Wealth, and Consequences: a book review
A few years ago we were confronted with a situation in which a father left $60 million to his two children upon his death. His very unprepared son felt that his father had done him a terrible disservice, essentially burdening...
read moreTo Plan or Not To Plan? That Really Is the Question!
An article in the January 25 Wall Street Journal titled “Strategic Plans Lose Favor” indicated that many companies put aside their long-range plans during 2009 and focused solely on getting through the trough. Examples were cited of companies that created...
read moreDo You Have a “Business” New Year’s Resolution?
The calendar now reads “2010.” Is it time for a “business” New Year’s resolution? You might have easily come up with a personal resolution such as losing weight or exercising more, but have you considered a resolution for your business?...
read moreIs the Family Business Leader Born or Made? Follow the Rattle?
Originally posted in the Family Business Wiki Town Square In their November 30 Article in the Wall Street Journal, “Do You Really Want to be a Leader,” Drs. Preston Bottger and Jean-Louis Barsoux suggest that too many people focus on...
read moreWhat’s Your Question to Statement Ratio?
“As you move up the corporate ladder,” Tom Wilson, Allstate’s Chairman, President and CEO, advises, “your question to statement ratio should also go up.” Let’s frame that in the form of a question: When developing the next cadre of leadership...
read moreKeeping the Right People 'On Your Bus'
Twelve months ago, your staff was likely happy just to have jobs. Now, as the market improves, some of your stronger players might be looking for better opportunities.So how do you keep them engaged, involved and loyal … especially if...
read moreHow the Mighty Fall
Author Jim Collins’ book, How the Mighty Fall: And Why Some Companies Never Give In, was published earlier this year. This book is a follow-up to his earlier book, Good to Great.In Good to Great, Collins laid out the attributes...
read moreInfluence and Authority—What It Means and Why It Matters
In The New York Times August 9, 2009, article “The Authority That’s Not on Any Chart,” author Daniel Sorid describes the difference between formal and informal authority or influence. Formal authority, the type that shows up on organization charts, flows...
read moreUnderstand Your Employee Retention and Hiring Advantages ... and Seize Them -- Now
In their article, “Winning Back a Wary Workforce,” BusinessWeek, July 13–20, 2009, Jack and Suzy Welch put into strong words what so many of us in business today know to our core: “This recession has really shocked people. Never before...
read moreDecision Impaired or Impaired Decisions?
A few weeks ago, David Spitulnik had the opportunity to hear Neil Novich, retired Chairman, President and Chief Executive Officer of Ryerson Inc. speak at a Shields Menely Partners Event. The title of his presentation was “How Can Such Smart...
read moreCommon Business Plan Flaws
Over the years, we have been presented with a number of business plans claiming to address issues ranging from the mundane to the earth shattering. While many include some insightful kernels, more often than not, the writers have failed to...
read moreThe Value of Advisory Boards
Business owners often operate within a vacuum due to a lack of trusted networks from which they can seek guidance on critical decisions. This was the topic of a recent panel discussion at the Family Business Alliance Annual meeting. The...
read moreIs Your Business Surviving, Sustaining or Thriving?
The recent 2009 Kellogg Alumni Entrepreneur Annual Conference focused on positioning businesses in today’s market environment. The panels on “managing and improving your business in the downturn” and “recession-proof business models” provided interesting insights on cash flow analysis and investing...
read moreShould There Be an “I” in Team?
Teamwork, teamwork, teamwork. It’s a word we’ve heard repeated countless times throughout our careers. The fact that most of us are members of several teams, even leading some of them, is proof of just how deeply embedded the concept of...
read moreSurvey of Advisors to Family-Owned Businesses
We would like to thank everyone who participated in our survey of advisors to family-owned businesses last month. With the help of the Family Firm Institute (FFI), we were able to gain an understanding of how the present economic situation...
read moreDifficult Dialogues: Tips for Those Tough Talks
Even in good times, leaders must be prepared to deliver unpleasant news. In this economy, however, the ability to present bad news one-on-one as well as to large groups of people without sacrificing morale is becoming an increasingly critical leadership...
read moreBusiness Succession is Not a Single Event, Planning Starts Now
Barry Cain was quoted in the March 22, 2009, CareerBuilder section of the Chicago Tribune. The quote appeared in Jason Lee’s article on succession planning. In the article, Lee advises family business owners to prepare for the future by following...
read moreIt’s not what you know—it’s what you do about what you know.
I had the opportunity to hear Jim Skinner, CEO of McDonald’s, and Dipak Jain, Dean of Kellogg School of Management, speak at the Kellogg Global Insight luncheon on February 20.Skinner spoke of the challenges and issues he faced when he...
read moreChicago Business Leaders Survey - Insights
Blackman Kallick followed its November 2008 Chicago Area Business Leaders Survey with a second one in January, just before President Obama’s inauguration. The results of the survey can be viewed online at LeaderSurvey2.BlackmanKallick.com. In spite of the hope that surrounds...
read moreLeading Change in a Downturn
Leadership is challenging in the best of times. However, when you need to initiate change, particularly in a down economy, the task becomes even more complex.Articles in two recent editions of the Harvard Management Update focus on these issues. In...
read moreThe Changing Nature of Your Banking Relationship … Some Ideas to Consider
Mark Robertson, practice leader of Blackman Kallick’s Lender Support Services team, recently offered some observations on how the current banking environment might affect your relationship with your bank. We thought it worthwhile to share these insights with you.The ongoing credit...
read moreBlackman Kallick on Chicago’s Economic Outlook
In November 2008, Blackman Kallick surveyed approximately 300 Chicago area business leaders to gain insight on their outlook for the future of Chicago businesses and the state of the economy at large. The results can be viewed online at the...
read moreLearn From Past Storms … Even if They Were Less Severe
Recently, Harvard Business Review made available to subscribers a reprint of a June 2001 article entitled “Moving Upward in a Downturn” by Darrell Rigby. The fundamental premise of the article is that, “During industry downturns, smart executives don’t panic. Instead,...
read moreHaven’t You Dreamed of Getting a Leg Up on Your Competition? Why Not Now?
We have written repeatedly about the need to plan for what you want your business to look like when the economy turns around. It is also important to consider what opportunities might be available to you right now. This includes...
read moreThe Pitfalls of Selling Your Business
When you have decided to sell your business, how should you begin? Recently a colleague of ours, Stella Su, published an interesting article on this subject. It examines sales transactions and helps business owners to prepare and avoid potential pitfalls.Unlike...
read moreAdaptive Leadership … Do You Have It in You?
Whether all is going well with your business or you are in the middle of a fight for survival, your team looks to you for leadership. How you seize this challenge and opportunity—passively, aggressively or not at all—might affect the...
read moreWhat’s the Right Leadership Style for Your Organization?
A September 1, 2008, article, “Shared Leadership Offers Edge,” discussed the power of collaborative leadership. The article profiles the leadership style at a Chicago-based financial services firm, Wrightwood Capital.Wrightwood’s leaders have determined that collaboration, rather than command and control, is...
read moreStuck in 2008 or Moving Purposefully Into 2009?
The Recession Isn’t Waiting for You … What Are You Waiting For? Our March 4, 2008 posting entitled "Getting Through 2008...and Beyond" was written to help business owners and CEOs to better see the coming economic storm and plan their...
read moreFinding the Right Business to Buy.
How does one go about finding the right business to buy? This is one of the most often asked questions, and there are probably as many approaches to finding the answer as there are people asking the question.While it might...
read moreThoughts From The Road
Several years ago, Michael Treacy and Fred Wiersema published the highly acclaimed book, The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market. The central premise of the book is that no company can succeed today...
read moreDon’t Go It Alone: Unlock the Power of Collaboration
We often share ideas about strategy and how it needs to be at the core of everything that a business leader does. Successful execution of strategy involves, among other things, implementing forecasting models for your company that will provide your...
read moreRecessionary Times Are Here: Cut Costs or Engage Employees?
This past March we shared some thoughts and planning ideas for business owners and CEOs looking to navigate their way through the current economic storm. Central to our thinking was, and continues to be, the notion that embarking on a...
read moreLetting the Outside In: A Checklist for Using Your Independent Board to Enhance Growth and Profitability
In today’s fast-paced and very challenging business climate, more and more companies are coming to realize the potential power that an independent board of directors can bring to their long-term growth and prosperity. Even in family-owned businesses that still have...
read moreCan You Say What Your Strategy Is?
This is the compelling and thought-provoking title of an article by David J. Collis and Michael G. Rukstad in the April 2008 issue of the Harvard Business Review. An executive summary of the article can be found here. If you’re...
read moreThe Next Wave Of Entrepreneurial Opportunities
At the recent Kellogg Alumni Entrepreneur’s conference, Dean Dipak Jain provided an interesting forecast of the next wave of opportunities. While the comments were focused on business creation, we believe that they have relevance in existing businesses as well.The forecast...
read moreThinking about hiring a coach — Why only in sports?
It's springtime in Chicago—a time of year when Mother Nature provides us with glimpses of the highly coveted summer yet to come. Chicagoans, in particular, are famous for taking advantage of this precious time in order to engage in leisure...
read moreGenerational Growth in Uncertain Times - Executive's Club of Chicago Lecture
Timing is everything. William Wrigley, Jr., Executive Chairman of Wm. Wrigley, Jr. Company spoke on April 29 as part of the Executives’ Club of Chicago’s CEO Breakfast series. Mr. Wrigley’s speech had been scheduled for over a year, but following...
read more1st Generation or 26th Generation Family Businesses... Planning for Success Across Generations Still Requires a Focused Strategy
In its April 5, 2008 issue, the Wall Street Journal profiled the Antinori family, famous Italian winemakers for the last 26 generations. While only an extremely few family owned business have survived for so many years, let alone even into...
read moreWork ON your business, not just in it...Why the time is right for an Advisory Board.
Many closely held businesses consider establishing an advisory board, but few actually make the commitment of time and energy to do so. Why establish and maintain an Advisory Board, especially in this economic climate? Perhaps the better question is “why...
read moreGetting Through 2008 ... and Beyond
Let's face it—2008, and possibly 2009, are going to be challenging at the very least, perhaps even worse if the economic climate continues to turn against us. Economists continue to argue over whether we are in a recession. Independent of...
read more
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