Culture Essentials: The WHY Institute with Guest Dan Dominguez

Catalytic Conversations

This is interview was a part of my weekly radio show at IBGR.Network. Catch Catalytic Conversations every Friday at 2 pm EST.

Building Culture and Teams

Culture in any organization can be difficult to define, as well as communicate. The issue of defining and explaining culture in a family business is even more complex. At the same time, leaders in a family business have a responsibility to not only define and explain culture, but to also equip themselves and the next generation to lead through culture changes. It’s complicated for the family and for those in the organization outside of the family, isn’t it?

At the same time, the WHY Institute believes that knowing the WHY of the company, it’s leaders and those who make up the organization is an important part of sustaining a family business for future generations. The WHY Institute founder, Gary Sanchez, was inspired to reach out to Simon Sinek after his famous TED Talk to ask how a person goes about discovering the WHY. Simon didn’t know, but supported Gary in his efforts to devise a scientifically sound way of discovering your WHY.

Today I have a conversation with Dan Dominguez of the WHY Institute. Dan shares his experiences in working with family businesses, and the individuals within those organizations, on discovering their WHY, their how and their what. Each leads to greater clarity and ability to communicate the mission and vision to employees as well as ideal clients/customers.

Strong Culture is linked to:

1. Happier Employees
2. Greater Productivity
3. Higher Employee Engagement
4. Higher Profits
   

Knowing the Why, the How, and the What of the company AND the people in an organization helps build a strong company culture.

According to the PwC, 2019 Family Business Survey, over 50% of family businesses did NOT plan to pass the business on to the next generation. One of the reasons was a lack of interest on the parts of the younger generation. Dan and I wonder if a lack of clarity around Why - for the company and for the next generation, contributes to that statistic.

Companies and individuals can investigate the process of Why discovery by exploring The WHY Institute’s website: www.whyinstitute.com.

Resources:

1. Dan Dominguez, The WHY Institute, contact Dan at [e-mail].
2. Work The Bugs Out: Practices To Work In, & On, Your Business, by Wendy Dickinson, Publish: TBD. Excerpt: Free Downloadable PDFs to work through.
3. 2019 US Family Business Survey, PWC, January 2019.
4. 8 Reasons Why Organizational Culture is Important, indeed.com.
5. The Statistical Case for Company Culture, levelingup.com.
   

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