Family Business Leaders: Ponder Your Demise, Name the Elephants

Radnor, PA...Leadership guru Dave Griffith says those looking to improve their lives should pretend their death is imminent.

“If you knew it was your last day, what regrets would you have?” prompts Griffith. “Who would you call? What would you say to them?”

The good news for those who take his challenge is they are likely not dying anytime soon, said Griffith, who is currently executive director and head coach of Episcopal Community Services in
Philadelphia. But their answers have provided the best investment advice possible about the only commodity any one of us controls: Time. “Suppose you say to yourself, ‘I wish I weren’t in this job that starves my soul,’ or ‘I wish I had spent more time in community service,’ Griffith said. “That gives you direction.”

The power of imagining one’s demise is just one lesson Griffith has gleaned from four decades of leadership hits and misses in corporations large and small and non-profits, including executive positions at IBM, ROLM, and MCI. In 1993, he was recruited to serve as President for his father-in-law’s business, Modern Group, Ltd., where he now serves as board chair. Griffith also serves as board chair or director for several other family businesses, including JJ Haines Company, Delaware Valley Floral Group, Verus, Mountain Laurel Spirits, and Hoober, Inc.

He coaches people to find the best talent, be the best listener, and, as illustrated above, to spend their time in the best and most meaningful ways. He’ll share some of what he’s learned with Delaware Valley Family Business Center members and other participants at a May 16 Breakfast Forum, which will be held from 7:30 to 10:30 a.m. at the Radnor Valley Country Club, 555 Sproul Road, Villanova, PA, 19085. To register, please visit: dvfbc.com/events.

“Dave’s wide-ranging leadership experience has provided him with a wealth of insight into what makes a successful leader, and he is especially gifted at sharing what he’s learned to inspire and instruct others,” said Sally Derstine, DVFBC managing partner and senior family business
advisor. “We are delighted that he accepted our invitation to speak at our event.”

When he’s not suggesting that business leaders think about death, Griffith advises they aspire to be the dumbest person in their company. “Hire people who are better than you at the things you hire them to do,” he said. “A leader is someone who gets the job done and can grow the business, foster drive in others, and make sure everyone at the company or non-profit accomplishes all they can. There are few of us who have the capacity to master all of the skills necessary to leverage a a business. And besides, one person working a 40-hour week works 2,060 hours a year. If you add five good people to the team – do the algebra.”

Diversity in hiring, from race and gender to age and socio-economic background, is also critically important, said Griffith. “The more perspectives you have, I promise the better decision making you’ll have.”

Family business leaders should regularly check in with team members at all levels – and go to them, where the work of the company gets done. “Ask what they are working on, what’s working for them and what is not. Ask them what help they need,” said Griffith. “I spend an hour or two every month doing this, and it’s the most important thing I do.”

He also recommends that leaders talk directly to the people his current company or organization serves – and to one’s competitor’s customers. It’s all part of his “Wear Muddy Boots” philosophy, inspired by advice he received from his dad when he became a manager at IBM. “Dad said, ‘You go into the field and you get your boots dirty. You listen to the folks doing the work, and you learn.’”

The feedback gleaned from these conversations – with or without literal mud - helps guide company leadership to better decisions, he said. Even better, it builds rapport and trust that yields improved feedback in future conversations.

That brings Griffith to elephants – the kind that represent a potentially bad decision leadership is about to make, or an impediment to success.

The best chance of having someone on your team who can see a particular kind of elephant is hiring a diverse group of people with a multitude of perspectives, Dave said. The best way to be sure those who spot the elephants will name them is to create an environment where everyone feels safe talking about problems and potential problems.

“People will let you fail, unless they trust you,” he said. “If they trust you, they will save you.”

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The Delaware Valley Family Business Center’s mission is for business families to flourish as individuals, families, and enterprises. DVFBC guides business families through the incredible natural complexity they face as they strive for family harmony and business sustainability. Learn more about the DVFBC, its services and leadership here: dvfbc.com