Posts Tagged ‘five eyes on the fence’

The Five Capitals – A Cheat Sheet

Five Eyes on the Fence is available on Amazon.com

Five Eyes on the Fence is available on Amazon.com

In my book Five Eyes on the Fence, I propose a way to look at what businesses, families and people really possess in terms of “capital.” The success or failure of a business lays in understanding the potential and actual consequences of more than financial capital. In fact, there are four other capitals that might be even more consequential than money. The interrelationship of these four capitals—sometimes coupled with financial capital—is what actually produces expansion or contraction of financial capital.

The financial consequences of a business owner’s decisions are driven by:

  • Human capital—Who are the owners? What are their intelligences, instincts, and values? This is important because every decision is knowingly or unknowingly a manifestation of the value set of the business, family, or individual.
  • Social capital—Who do the owners know and work with? When they are intentionally nurtured, these relationships can be leveraged for opportunity.
  • Intellectual capital—What do the owners and other members of the company know? Are their gaps in knowledge that could be closed to strengthen the product or service?
  • Structural capital—What processes do these people use to accomplish things?

In short, all the decisions surrounding these four capitals will either subtract from or enhance financial capital.

Say Hello to the Elephants Quadrant Three: Implementation

RSJ founding partner tony rose

This article by Tony A. Rose first appeared in the Spring 2015 issue of Business World Magazine, a publication by Russell Bedford rbedford-logoInternational.

 

We all have elephants – professional or personal problems, needs or truths that we ignore, usually to our detriment. In Say Hello to the Elephants, I offer a powerful system for confronting issues, along with tools to address problems, achieve clarity, and make decisions. I call this system Quadrant Thinking. In this, the third of four articles, I present an overview of Quadrant Three: Implementation.

Implementation

In Quadrant Two, we looked at solutions and how you reach the goals you defined in Quadrant One. In Quadrant Three we look at implementing your solutions. That’s it. Just implement.

Just kidding

On the surface, Quadrant Three can appear to be the easiest of the four quadrants, assuming you’ve done Quadrant One and Quadrant Two properly.

Quadrant Three also can be most difficult if you are happy to stay in the planning stage, thus delivery and potential examination and criticism. Implementation is also the graveyard of procrastinators.

Overcome these barriers, and you will be well on your way to implementing your solutions.

Pushing against gravity

Change in itself is difficult. It can be uncomfortable and even a bit scary. But to achieve success, you must leave your comfort zone and change your routine.

However, external forces, much like gravity, have a habit of keeping you where you are. So how do you push against this gravity? Your first tool is to make the transition part of your solution. In Quadrant Two, plan out the steps of implementation. By doing this, you can eat the elephant one bite at a time – much easier than trying to implement the whole solution in one sitting.

But sometimes a clean break is more effective than a gradual transition. Some solutions need the ‘Big Bang’ approach. Knowing whether to go gradually or all at once can be intuitive, or you may need to think it through; either way it is a critical part of implementation.

Just do it

Procrastination is one force that can stop you from implementing your solutions, and it often comes from a feeling of being overwhelmed by the size of the task in hand. So how can you fight procrastination? Identify a small part of the overall task, and then do it.

Using a process

The concept of using a process is critical to Quadrant Thinking, which in itself is a process that moves you from A to B to C to D.

For a successful implementation, you need to take control. If you do not create a formal plan that contains the steps that move you from one point to another, you open yourself up to disappointment. Remember: If you fail to plan, you plan to fail.

Your written plan must be specific. By committing yourself to the planning process, you ask yourself all sorts of questions; the answers to these questions become the tools you need to implement your plan.

Creating accountability

People who are accountable are far more likely to achieve their goals.

Accountability can appear in several forms. It may be a promise you make to someone who then holds you accountable. Openly declaring your goals creates accountability. It might even be as simple as promising yourself a reward when you reach your goal.

The key is to make sure the stakes are large and worth striving for. If you dangle a meaningful carrot, you and your team will jump to action.

Combating buyer’s remorse

If your implementation begins to feel difficult or complex, you may have buyer’s remorse. This may be because you haven’t yet found the right solution or you have insufficient clarity. The solution to buyer’s remorse is simple: return to Quadrants One and Two. Get clarity, define your goals clearly and specifically, and create your plan of action.

Act on the results of your Quadrants One and Two planning, and you will implement your goal. Do not allow yourself to be diverted; if you do, get right back on track.

Remember: If you don’t quit, you haven’t failed.

Learn more about our International Business Services.

Related Posts:
Say Hello to the Elephants Quadrant One: Clarity
Say Hello to the Elephants Quadrant Two: Solutions

The Importance of Nurturing Your Relationship with So-Called “Strangers”

I write in my second book, Five Eyes on the Fence, about the importance of protecting your social capital. My thesis is that financialFive Eyes on the Fence_WEB capital is a byproduct of four other types of capitals. When human, social, intellectual, and structural capital are well-tended, financial capital flourishes.

Social capital can be summarized in two words: Relationships matter.

The strength of your relationship with clients, potential clients, vendors, employees, and colleagues determines the extent to which these relationships can be accessed as a resource. The stronger the social capital, the more likely your financial capital will benefit.

And the stronger your relationship with strangers, the better your social capital.

I know what you are thinking, “Wait a minute: How can a person have a relationship with a stranger? Isn’t not knowing the person the very definition of a stranger?”

And therein lies the problem. You don’t know what you don’t know. You don’t know whether someone else knows something about you. You don’t know if a so-called “stranger” has an eye on you.

When you walk through life, consider that you are often being observed. If you are being ungrateful, pessimistic, or otherwise unpleasant, “strangers” are noticing. When you post hostile messages on someone’s social media site, “strangers” are reading these messages. When you are rude to the barista, “strangers” are less inclined to engage your conversations.

Those strangers might be people who would have otherwise turned into important components of your social capital network.

This February, I spoke to the students at the University of Southern California’s Leventhal School of Accounting about my book, and how they can use the four other capitals to help their clients strengthen their financial capital.

During our discussion about nurturing relationships with social capital, a student brought this to my attention: The following Friday, a prestigious speaker was visiting their school.

I gave this advice: “Dress like you are going to a job interview.”

One of the students objected: “There are going to be thousands of people at the event. Why would he notice me?”

My response was this: “There are going to be thousands of people at the event. Someone will notice you, and that person might just be your next boss.”

This holds true in life. Of the billions of people out there, you never know who is noticing you. You never know who will be your next boss, your next client, your next employee, or your next vendor. So many relationships are born out of happenstance. Why not give these relationships the best chance at blossoming by going out into the world as the best version of yourself?

Tony A. Rose Featured Guest on “Smashing the Plateau with David Shriner-Cahn”

Rose, Snyder & Jacobs LLP founding partner discusses his newest book Five Eyes on the Fence: Protecting the Five Core Capitals of your Business

Encino, CA — March 2, 2015:  The latest episode of “Smashing the Plateau with David Shriner-Cahn” features an interview with Tony A. Rose, a founding partner at Rose, Snyder & Jacobs LLP.  Rose discusses his latest book Five Eyes on the Fence: Protecting the Five Core Capitals of your Business and how he delivers value to his clients.

Every expert interviewed on “Smashing the Plateau” is different, but they all have one thing in common—they know how to fix problems that keep people and businesses stuck. In this episode, Tony Rose touches on the five core capitals of business, and also shares his thoughts on the connection between wealth and happiness, the power of listening, the ownership of defined core values and the courage needed as a business owner.

Five Eyes on the Fence is published by Business Expert Press and is available on Amazon, Kindle, Apple, B&N.com and other retail outlets.

 

“Smashing the Plateau with David Shriner-Cahn” is available on-demand and as a download on iTunes. For more information visit the official website.

About Rose, Snyder & Jacobs:
Rose, Snyder & Jacobs LLP (RSJ) is a Certified Public Accounting firm founded in 1976 and located in Encino, California. RSJ is dedicated to serving a diverse client group including closely held companies, high net worth multi-generational families, non-profit organizations, and public companies. RSJ serves clients across many industries, in both domestic and international capacities. www.rsjcpa.com.

# # #

Media Contacts:
Clara E. Mayer
Rose, Snyder & Jacobs LLP
818-461-0600
cmayer@rsjcpa.com

Angela Moore
Starfish PR
310-429-8868
angela@starfish-pr.com

 

Founding Partner, Tony A. Rose, Releases New Book “Five Eyes on the Fence: Protecting the Five Core Capitals of your Business”

Already a Forthcoming Feature on Harvard Business Publishing

Encino, CA – October 10, 2014: Rose, Snyder & Jacobs is proud to announce the publishing of “Five Eyes on the Fence: RSJ Five Eyes on the Fence_WEBProtecting the Five Core Capitals of your Business” by founding partner and author Tony A. Rose. The book debunks the myth that a business’s health is judged by its bottom line alone (by its financial capital). Rose demonstrates the importance of the five core capitals of a business functioning together – Financial, Human, Intellectual, Social and Structural – with a mix of case studies and exercises. “Five Eyes on the Fence” has already been selected to be featured on the Harvard Business Publishing website, and Rose will be sharing his thoughts behind the book at the Russell Bedford International conference in London on Saturday, October 11, 2014. Rose, Snyder & Jacobs is a member firm of Russell Bedford International, a Global Network of Professional Services.

“This is the culmination and synthesis of a bunch of things I have discovered about businesses and the people that own them as I travel around the country talking to smart people who are knowledgeable,” says Rose. “Each one of my capitals has been written and commented about, but I have never before seen it all put together into one place. I have talked to college students and successful businesspersons, and all of them seem to welcome a look at their lives from these five perspectives. This book is for people, families and businesses. They all can use these concepts.”

In Rose’s first book “Say Hello to the Elephants” he presented a four-part, client-tested process for reaching clarity for a business, turning obstacles into opportunities, and crossing the finish line. In “Five Eyes on the Fence” he proves that financial capital is a by-product of four other capitals: (1) human capital; (2) intellectual capital; (3) social capital; and (4) structural capital. By exploring both positive and negative case studies, readers learn to consider these five capitals as an intricate web, making decisions according to the interplay between each of the capitals rather than focusing all of their energies on the cold, hard and logic-driven financial statement.

At Rose, Snyder & Jacobs, the firm is more mindful than ever before that its clients want a comprehensive take on their businesses. The accounting, tax and management teams are sensitive to how that advice influences each of the five capitals.

Rose,Tony“In short, all of us need to be keeping our eyes on that fence,” adds Rose.

“Five Eyes on the Fence” is published by Business Expert Press and is available on Amazon (affiliate link), Kindle, Apple, B&N.com and other retail outlets.

About Rose, Snyder & Jacobs:
Rose, Snyder & Jacobs, LLP (RSJ) is a Certified Public Accounting firm founded in 1976 and located in Encino, California. RSJ is dedicated to serving a diverse client group including closely held companies, high net worth multi-generational families, non-profit organizations, private equity companies and public companies. RSJ serves clients across many industries, in both domestic and international capacities. Rose, Snyder & Jacobs is a member firm of Russell Bedford International, a Global Network of Professional Services Firms. www.rsjcpa.comv

# # #

Media Contacts:

Clara Mayer
Rose, Snyder & Jacobs
818-461-0600
cmayer@rsjcpa.com

Angela Moore
Starfish Public Relations
310-429-8868
angela@starfish-pr.com