Henry's Web Log

Since 2004, we've practiced something called Open Book Management. Our financials are prepared monthly, and we sit down first at a leaders' meeting, then with the whole company, to pour through the results. It's not unlike an Army AAR (after action review): everyone has an equal say, anyone can ask questions, and it's not a blame-storm event. We honestly look at ways to improve ACI's bottom line. So that's a perfect way to inject our advisory board, plus keep everyone flowing on our regular rhythm. "Battle Rhythm" is a popular Army term now. It's not that I run my company like a military operation-- far from it. But I think the Army runs its military with a great deal of business best-practices. Or maybe business best-practices come from the disciplined look at process improvement brought about by military training.
Anyway... For two hours, we met with the board and went through the description of each division's revenue models, employees, current activity, and the past financials. And some great questions came out, plus some very positive feedback. This was an opportunity for me to help transition the team, while I was still available.
Our next advisory meeting will be in mid-September, after we've got the August results.
Thank goodness for the 8 week notice! John Phillips told me that one of his notifications went along the lines of blunt phone call, "Why aren't you here yet?!" It seems the orders had been lost in the shuffle.
I took an 11-page estate planning document prepared by the good folks at LeClair Ryan, and reduced it to this management diagram. Click to see the full picture.