Dr. Earl R. Smith II

By Dr. Earl R. Smith II

Barely one out of ten start-ups survives the first five years. Of the remaining less than twenty percent make it to the tenth year. Understanding the process of starting a business is best something other than a purely intellectual exercise. In an important sense it is one of the biggest challenges facing any entrepreneur. I limit my work with new companies precisely because such fundamental understandings are often lacking. The process of gaining the required insight can often take years - and may, in some cases, never be gained.

Read the rest of this entry »

By Dr. Earl R. Smith II

Every once in a while I come across a book or an article which purports to explain why start-ups fail and to advise entrepreneurs on how to avoid those pitfalls. As a successful recidivist entrepreneur, I can tell you that almost all of the writings are not only wrong but, if you take them too seriously, are potentially corrosive to your chances of ever successfully starting a business.

Read the rest of this entry »

by Dr. Earl R. Smith II

Yesterday I had a meeting with one of the most experienced people in the field of managing organizational change. We met to discuss the effects of individual’s self-sabotaging behaviors on the process. After a very productive discussion on that subject, I asked another question. “Chuck, once you organize and implement a program of change within an organization, how to you assure that it will not just go back to the way it was after you leave?” Those of you who work in this field know how important developing a good response to the question is. Without it, your reputation and the experience of the organization may suffer. Change takes a long time to settle in and become the norm.

Read the rest of this entry »

By Dr. Earl R. Smith II

Lately I have been remembering fondly an old friend who lived in Jacksonville, Florida. When I first met him he was at the end of a long and wildly successful career in the real estate and railroad businesses. He used to have breakfast every Sunday morning at the old downtown Holiday Inn. He could afford to eat anywhere but he was a man of habits and that old restaurant suited him.

Read the rest of this entry »

By Dr. Earl R. Smith II

Many companies fail for reasons that have little to do with their core product or service. It is often the afterthoughts or ‘under-thoughts’ that cause failure when success has been looming on the horizon.

Read the rest of this entry »

By Dr. Earl R. Smith II

The idea that a senior management team should be balanced is far more easily intellectually accepted than effectively deployed. In my coaching practice, I regularly encounter teams which obviously have been patched together out of ‘what was available at the time’. This situation most often is the result of an urgency to get something going and a narrowed vision. But it is important to regularly revisit the question: “Do I have the right people in the right places to maximize the chances of success?” Read the rest of this entry »

By Dr. Earl R. Smith II

A common weakness of almost all management theories is that they are an essentially static conception of a dynamic process. As such they cultivate ignorance rather than enlightenment and promote failure rather than success.

Read the rest of this entry »

By Dr. Earl R. Smith II

In the spirit of disclosure, I am a recidivist entrepreneur and a four-decade student of the process of starting and building a business. I have, over those years, developed a unique approach to turbo-charging business development. It involves: 1) a Board of Advisors, which is populated by very senior people who are dedicated to driving the top line; 2) a different approach to resourcing and organizing a company’s senior management team; and 3) an approach that focuses on building revenue in larger chunks. Trust me — it really works! Read the rest of this entry »

Dr. Earl R. Smith II

A well constructed and professionally managed advisory board can bring amazing benefits to a company. A poorly designed and managed one is usually a colossal waste of resources. The difference often lies not so much in the idea of an advisory board, but in the execution of that idea by the senior management team, and particularly the CEO, of a company. In many cases, the productivity of a company’s advisory board is an indication of the effectiveness and sharpness of focus of the senior management team. Read the rest of this entry »

By Dr. Earl R. Smith II

A well designed, populated and managed Advisory Board can bring substantial benefits. This is particularly true when it comes to the process of business development. Such a Board can help senior management succeed beyond their wildest dreams. But there are reefs and shoals that need to be avoided.

Read the rest of this entry »