Tag Archive: peers

Why Join A CEO Group?

December 6th, 2019

We recognized Ron Penland as our 2019 LMA Advocate. Ron has added value to our business in many ways over the years ranging from insights on what’s relevant to manufacturers and distributors and their bottom line to valued connections. Since Ron runs CEO groups, I thought it made for a good segue to discuss the value of interacting with peers. Are you drinking your own Kool-Aid or do you get push back when you need it?

You might want to consider the unpleasant idea of gaining input even when you don’t want to hear it. The proof is in the pudding. Certainly, Ron’s CEOs have been FAR more successful than even the average CEO group as his CEOs get 2 to 3 times the multiples for the sale of their businesses when compared to the industry averages. That alone is noteworthy. I joined one of his groups simply to better understand what is on our clients’ minds. Of course they tell me what relates to our project but if I understand more about the broad spectrum of issues, I can ensure LMA provides an even more powerful return. That is an important win-win – the more value we help our clients create, the better for both of us!

Do you have any venues for interacting with top notch peers? After all, just interacting with someone in a peer position willing to talk to you could be even worse than being a hermit! Kash Gokli, head of Harvey Mudd’s manufacturing practice and Director of their clinic program and I gather CEOs a few times a year to help foster a community of executives and to discuss timely topics in our Harvey Mudd executive roundtables. Of course, we don’t go into depth and specifics of company performance like you do in a CEO group. Yet, it can add definite value. Contact us if you are interested in joining us.

There are other options as well for building these invaluable connections. Think about volunteering for a community benefit to provide expertise. In the Inland Empire and surrounding areas of Southern CA, we are starting a consortium for advanced manufacturing and supply chain success. We are currently looking for manufacturers and exporters who would be interested in being involved from the ground up in an advisory capacity. Please contact the Inland Empire Economic Partnership (IEEP) or me if interested. And a local manufacturing executive asked me to participate in CAIEDEC which is an organization supporting export. CEOs are involved in both of these initiatives and these groups are the first to pop to mind.

There are plenty of opportunities to gain ideas, insights and push back. Are you seeking them out? If not, why not? Wouldn’t you like to exceed corporate objectives to fast-track your career or sell your company for double the industry average? Pick just one item to test this month, and results will follow.



Recognition & 2017’s LMA Advocate Award Winner

June 19th, 2017

On the 10 year anniversary of my business, I recognized 10 people for 10 years as LMA Advocates – people who have gone over and beyond, resulting in LMA Consulting’s growth and success. I truly appreciate their support, expertise, ideas and feedback. I would not be here today without them – and certainly not leading a growing and leading edge consulting practice that partners with manufacturers and supply chain organizations to create BOLD customer promises and profits. Who doesn’t want to find the win-win-win of customer growth/loyalty, profits and accelerated cash flow?!

Ever since my 10-year bash, I’ve recognized one person each year on the anniversary of LMA Consulting. Thus, on my 12-year anniversary, I’m thrilled to announce Parizad Sethna, VP of Member Services for APICS-IE and Supply Chain Manager at Nestle.

Recognition

Parizad and I collaborate on the APICS-IE Board of Directors, and she has been instrumental in our communications, executive panel and networking symposiums and raising the bar in terms of the value we provide members. She also stands out from the crowd with her creativity, innovation and determination in taking on new areas of responsibility that might be considered outside of her core area of expertise, which I have found particularly valuable with both APICS and LMA Consulting.

One tip to implement this week:

There isn’t a bad time to take stock of whether you are recognizing people enough! Start with those that report to you. Who stands out from the crowd? Make sure your feedback and recognition is specific. Although I went big with a nice award, a simple thank you can go a long way. Of course, you can do both. Don’t recognize too many people as it might deter from the significance. However, you could add another category. For example, I am thinking about adding a category for a high performance manufacturer or distributor. You’ll likely see this coming soon….

Don’t stop with your direct reports! I think an often overlooked opportunity is to recognize your peers and managers. There are many ways to recognize them by putting in a good word, by sending an email, writing them a recommendation on LinkedIn, taking them to lunch etc. Start your juices thinking about recognition.

Looking for more ideas to keep your supply chain connected? Access more tips and resources on my blog. And keep connected by subscribing to my newsletter and email feed of “I’ve Been Thinking…”