Herrenkohl’s 5 Insights for Better Hires from Your Employee Referral Program

People have asked me for years whether I think they should have a program that rewards employees for referring potential new hires. I’ve never been against them, but over the last several years I have been counseling executives to make sure they have such programs in place.… Continue Reading >

NFI: Keeping the Entrepreneurial Spirit Alive

 

Success can kill the entrepreneurial spirit of a company.If we are not actively engaged in protecting the innovators within our own ranks, the systems and process that must necessarily accompany growth will strangle them. But how do we grow and stay entrepreneurial?… Continue Reading >

Victor Allis and Quintiq: Fairness is Fundamental

Nothing jeopardizes a high performing corporate culture more than real or perceived unfairness. Conversely, nothing engenders loyalty like a leader and a culture that is committed to being straightforward and fair in dealing with people.

Anyone with kids knows that the word “fair” quickly becomes a four-letter word.… Continue Reading >

Please Give Me a 10: How Good Measurements Hurt Customer Satisfaction

Originally published on December 23, 2013 in the Philadelphia Business Journal.

Managers know that systems for measuring performance are foundational for leading teams that perform well. However, the existence of a rigorous system for measuring performance does not guarantee that performance will improve.… Continue Reading >

Domino’s Pizza and Building a Team of A-Players

Last January, the New York Times ran a great article about building a business by creating a team of A-players (For a Franchise, Success is in the Hiring; January 6, 2008). The article introduces Dave Melton, who owns 5 Domino’s Pizza stores in NYC with total sales of $5 million, has 100 employees – and experiences essentially zero turnover.… Continue Reading >

You Can’t Fake Passion

I just attended a fantastic event in New York City led by a number of very bright people in the publishing and promotion world. After an evening of great material, each panelist was asked to provide one final piece of advice.… Continue Reading >

Ten Years to be an Overnight Success

A client of mine sold the first of several businesses he started and pocketed about 30 million dollars at the age of 35.  He received a fair amount of attention in his industry for his accomplishments and some media attention as well. … Continue Reading >

The Downfall of My Favorite Restaurant

I went to my favorite restaurant in West Philly yesterday for lunch. I found this place a couple of years ago. The food was phenomenal and it was always packed with Penn students and faculty. Business was good enough that, this past summer, they closed down for a month and did a complete renovation.… Continue Reading >

You Have a Beautiful Home

When my wife and I sold our home in St. Louis to move to Philadelphia, we interviewed a number of realtors. One of my standard questions to these realtors was, “What are the problems with this house? What do we need to change or neutralize in order to sell it for the maximum price?”

Most of the realtors immediately plunged into a long description of the flaws and imperfections of our home and provided detailed descriptions of what they would fix.… Continue Reading >

Couples in Business Together

As a consultant and executive coach in the Philadelphia area, I have worked with numerous married couples in business together. Here is some advice drawn from my work with these couples:

1. Define each person’s roles and responsibilities. You should absolutely make big decisions jointly, but stop trying to make every decision a joint decision.… Continue Reading >