Your Family Business is a System

In this blog video, Wayne shares a personal story that underscores the dangers of treating a complex system as simply a collection of independent parts and processes. Please share your comments below.

Please click here to download the transcript.

  1. Awesome as always!
    Thank You!

    • Thanks, Lani!

  2. Your discussion makes a great point.
    Periodically, taking a high level view (30,000 feet), is a very good practice. Daily issues (individual slices) can easily distract (one) from seeing the overall condition (health) of the company.
    As an underwriter in the construction surety world, we strive to be a valuable member of a contractor’s business team. It’s our goal (as underwriters) to become a trusted advisor, on that team.
    Frequently, we get to witness that “high level” view, as we evaluate all aspects of the construction company. Our “high level” vantage point assists us in uncovering potential problems (or trends) early in their cycle. This allows us to bring valuable information, to the attention of our client contractor, thus providing timely input (from a different perspective) into the overall decision making process.
    As any good businessman knows, the more information you have, the better decision you can make.

    • Great points, John. Thank you.

  3. Thanks Wayne. Great story to illustrate the point that the holistic approach gets the best results for the client.

    • Thank you, Eric.

  4. Very true.
    A great GP having a helicopter view is more desirable than a number of great specialists functioning in narrow fields.

    • Thanks, Kumar.

  5. I agree, and I see it daily. I’m an accountant (CPA Canada), but I haven’t followed the traditional accounting track. I did work in public accounting for a number of years, but I’ve also worked outside of accounting in banking, government as well as specializing in R&D investment tax credits and other government incentives. Those experiences providing me with perspective different than my peer group. It opened my eyes to those moving pieces and how the view them as they work in unison can be far different than when they are looked at individually. Now if I could just find some clients I would start my own shop and help!!! 🙂

    • Thank you, Mike.

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