Episode 025 - Interview with Tim Campbell. Family business transitions and the importance of a great set of Core Values! Nov. 10, 2022

Business Broken to Smokin' Podcast

In this episode of the Business Broken to Smokin’ Podcast, Lodestone True North’s Head Coach Mark Whitmore and our guest Tim Campbell, CVO of Dearman Moving & Storage ( https://dearmanmoving.com/ ) discuss family business transitions, the importance of a great set of core values and more!

0:00 Intro

2:18 History of Dearman

7:47 A caution for every business owner

11:56 The default business model…

13:06 Tim’s story

22:20 Needing a coach on your side…

22:30 Self learning, and unlearning bad habits

25:15 Need to get beyond fixing symptoms

25:48 Book references:

Pinnacle by Steve Preda & Greg Cleary

Rockefeller Habits by Verne Harnish

The Advantage by Pat Lencioni

Get a Grip by Mike Paton & Gino Wickman

27:41 What’s different with the Dearman business now…

29:17 The importance of having a great set of core values…

32:24 There’s a bit of disruption… Working on the business is like working on a moving vehicle

37:24 Another big hurdle beginning with a new business operating system

41:05 Dearman’s Core Values

46:41 First big challenge/mistake about core values - you don’t have any…

48:00 Second big mistake about core values - they are vague. They need to be clearly differentiated.

48:43 Jim Collins - the definition of the right person on the bus

54:14 Using core values in the interview process

50:55 Book reference - Grit by Angela Duckworth - chapter 12 is about culture https://angeladuckworth.com/

58:44 Business expanding during an economy in contraction

1:00:29 What coaching does for the business…

1:01:11 The space here at Lodestone (the Coral Reef)

1:02:07 Reference to Kurt Gödel

1:05:51 Some advice to a business that could use an advisor or coach

1:07:01 “A business without a business coach is like a car without engine oil”

1:09:23 the BSAF analogy

1:12:33 (Good quote here from Tim - Shoutout to Mark)

1:18:15 All about epiphanies

1:20:21 Attention business owners…

1:23:07 Family businesses are messy…

1:24:56 A good indicator for Mark working with a future client…

1:26:35 Money is a terrible “why”

1:30:52 It doesn’t have to be lonely and miserable at the top

1:37:50 What’s your favorite Lodestone tool…

1:49:28 Book reference - Necessary Endings by Dr. Henry Cloud

1:56:08 Two things needed to make the tough decisions:

A clear vision:

1 - Where are we heading

2 - Why is it important

3 - Who are we (culture)

1:56:23 A clear set of seats (organizationally)

1:57:03 The seven solutions to people issues…

1 - Do Nothing

2 - Observe

3 - Training/coaching

4 - Put in a different seat

5 - Put on some sort of notice

6 - Delayed termination

7 - Fire now

2:02:33 The Clarity Maze Tool

2:15:24 What would you tell a 30 something business person…

2:21:48 Don’t let the business own you

Website: www.lodestonetruenorth.com
Website www.bigeasydesk.com
LinkedIn Mark: https://www.linkedin.com/in/mark-whitmore-lodestone/
LinkedIn Lodestone: https://www.linkedin.com/company/lodestone-true-north
Lodestone Online Courses: lodestone.thinkific.com

Music - Truckin' by The Grateful Dead