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Episode 025 - Interview with Tim Campbell. Family business transitions and the importance of a great set of Core Values! Nov. 10, 2022
Manage episode 353687197 series 3410872
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In this episode of the Business Broken to Smokin’ Podcast, Lodestone True North’s Head Coach Mark Whitmore and our guest Tim Campbell, CVO of Dearman Moving & Storage ( https://dearmanmoving.com/ ) discuss family business transitions, the importance of a great set of core values and more!
0:00 Intro
2:18 History of Dearman
7:47 A caution for every business owner
11:56 The default business model…
13:06 Tim’s story
22:20 Needing a coach on your side…
22:30 Self learning, and unlearning bad habits
25:15 Need to get beyond fixing symptoms
25:48 Book references:
Pinnacle by Steve Preda & Greg Cleary
Rockefeller Habits by Verne Harnish
The Advantage by Pat Lencioni
Get a Grip by Mike Paton & Gino Wickman
27:41 What’s different with the Dearman business now…
29:17 The importance of having a great set of core values…
32:24 There’s a bit of disruption… Working on the business is like working on a moving vehicle
37:24 Another big hurdle beginning with a new business operating system
41:05 Dearman’s Core Values
46:41 First big challenge/mistake about core values - you don’t have any…
48:00 Second big mistake about core values - they are vague. They need to be clearly differentiated.
48:43 Jim Collins - the definition of the right person on the bus
54:14 Using core values in the interview process
50:55 Book reference - Grit by Angela Duckworth - chapter 12 is about culture https://angeladuckworth.com/
58:44 Business expanding during an economy in contraction
1:00:29 What coaching does for the business…
1:01:11 The space here at Lodestone (the Coral Reef)
1:02:07 Reference to Kurt Gödel
1:05:51 Some advice to a business that could use an advisor or coach
1:07:01 “A business without a business coach is like a car without engine oil”
1:09:23 the BSAF analogy
1:12:33 (Good quote here from Tim - Shoutout to Mark)
1:18:15 All about epiphanies
1:20:21 Attention business owners…
1:23:07 Family businesses are messy…
1:24:56 A good indicator for Mark working with a future client…
1:26:35 Money is a terrible “why”
1:30:52 It doesn’t have to be lonely and miserable at the top
1:37:50 What’s your favorite Lodestone tool…
1:49:28 Book reference - Necessary Endings by Dr. Henry Cloud
1:56:08 Two things needed to make the tough decisions:
A clear vision:
1 - Where are we heading
2 - Why is it important
3 - Who are we (culture)
1:56:23 A clear set of seats (organizationally)
1:57:03 The seven solutions to people issues…
1 - Do Nothing
2 - Observe
3 - Training/coaching
4 - Put in a different seat
5 - Put on some sort of notice
6 - Delayed termination
7 - Fire now
2:02:33 The Clarity Maze Tool
2:15:24 What would you tell a 30 something business person…
2:21:48 Don’t let the business own you
Website: www.lodestonetruenorth.com
Website www.bigeasydesk.com
LinkedIn Mark: https://www.linkedin.com/in/mark-whitmore-lodestone/
LinkedIn Lodestone: https://www.linkedin.com/company/lodestone-true-north
Lodestone Online Courses: lodestone.thinkific.com
Music - Truckin' by The Grateful Dead
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