A REMINDER — HOW DCG CAN HELP YOU NAVIGATE STRATEGIC & FINANCIAL MINEFIELDS.

Strategic Consultancy — Business Strategy / Transition Management / Communication Process / Crisis & Disaster Planning/ Cybersecurity Protection/ Positioning for Funding / Risk Management / Tax Minimization / Succession & Exit Planning / Estate & Legacy

Management & Implementation — Business Plans / Capital Raise / Deal Structuring & Negotiation / Human Resource & Retention/ Performance Evaluation / Training & Teamwork Coaching / Financial Reporting / Forecasting & Budgeting / Systems & Controls /  Retreat Facilitation/ Merger, Acquisition, Disposition

  Mediation – Business Dispute / Conflict Resolution / Succession & Estate Plans / Prenuptial & Divorce Property Agreements

 

  • MANAGING UNDERPERFORMANCE FROM LONG-TERM, LOYAL EMPLOYEES can be awkward and difficult, but if someone is slacking and leaders ignore it, other employees notice and standards can drop along with their morale. While confronting someone who has felt safe in their role for years can trigger shock or even anger, it’s important to hold all employees accountable. So, best strategy is generally to do so by: (1) framing appreciation for the person’s loyalty and contribution, but then focus on specific current examples of concerns (mistakes, missed deadlines, responsibilities having outgrown skillsets, etc.); and (2) involve them by asking what support they need to remedy such issues. This process can usually best avoid making the person feel defensive, more likely to accept the criticism, and since, when people feel heard, more likely to change.  http://deliberatedirections.com/how-to-handle-loyal-underperformers/   
  • 90% OF BUSINESSES ARE FAMILY-OWNED with intention, expressed or not, of preserving multigenerational continuity. The vast majority fail, however, to focus on the challenge of preparing their next generation for transition – a common result of family and cultural dynamics. DCG experience has shown that a few core strategies are critical to transition and succession: (1) Cultivating emotional connections to the business thru regular family discussions and involvement, particularly periodic meetings or ‘retreats’ where future leaders can learn the managerial as well as technical aspects; (2) Planning for transition and succession (regardless of timespan) with clear communication among family members as to expectations & timelines; (3) Transitioning along the way, allowing full responsibility over small things, more so than partial responsibility over big things. DCG have decades of experience in this area; call us for courtesy consult. 
  •  “AS GLOBAL POPULATION AGES AND DEMENTIA RATES CLIMB, scientists may have found an unexpected ally in the fight against cognitive decline: owning a dog or cat.”  An 18-year study of adults aged 50+ (published in Scientific Reports journal) found that interaction with dogs and cats provides unique cognitive stimulation, with evidence of (1) increased prefrontal brain activation, stronger attentional processes, sharper memory, and emotional arousal with dogs, and (2) slower decline in verbal fluency with cats as pets. The study included fish and birds as pets but no significant link was shown – presumed, so far, to stem from their less demanding interface with humans, versus the increased frequency of social interactions when accompanied by a dog, while cats provide a substitute for a social network.  [THE GUARDIAN]

THOUGHTS FOR THE WEEK

  • Americans received an average of 63 ‘smishing’ spam texts last month, according to Robokiller. Latest is a text impersonating California DMV, with a threat to rescind your driver’s license or face legal action for unpaid traffic violations or tolls, unless you click a (malicious) link which of course then downloads malware. Always be wary of any message, text or otherwise that demands urgent action or evokes an emotional response!
  • A ‘Side Hustle’ is defined as extra money earned beyond one’s main source of income. Latest survey by Bankrate reports nearly a one-third drop in the number of U.S. adult men & women now side-hustling versus 2023, attributed to the currently strong job market and cooling inflation rate. Of the now some 27% of men & women still working side hustles, one-in-five use the extra funding just to pay down debt.
  •  The quality of sleep affects everything from heart health to mental clarity. But each night, “our bodies shed hundreds of thousands of skin cells and excrete oils sweating up to a half-pint of fluid shedding bacteria, with pollutants, dust, pollen & allergens which can affect breathing, trigger allergies, and cause serious lung infections. Additionally, flakes of our skin become food for dust mites which can aggravate eczema, asthma and allergic rhinitis. Regular laundering of sheets/ pillowcases/ interior blankets & duvet covers, with vacuuming & airing of mattresses is a small but powerful investment in wellbeing.”  [CONVERSATION.COM]