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Business Tips from the Editor - June 2026
BUSINESS TIPS FROM THE EDITOR
June 2026
Richard T. Hendee, Editor
The Silver Fox Advisor
“My Own Backyard"
Over my career of advising, consulting, coaching, and mentoring small business owners I have seen numerous small business owners looking over the fences in their
Frequently, the results are the same. Focus, time, and money are spent on the shiny new marketplace, and in time (usually a short time frame), the business experiences a loss of revenue, loss of customers, and a loss of market share from the market that made the business what it is (or was).
Conversely, I know the owner of a very successful business for many years, where customers wait in line to enjoy the business’s products and services (that are pricey, but very good with service that is tremendous); he tells people who ask why he doesn’t open more locations in other cities, to which he replies, “Why would I want to do that? I can’t spend the money I am making now!”
If you are a small business owner struggling with images of grandeur and the desire to take over the world, but something is telling you not to jump off the cliff without backup and a parachute, seek advice from one of our professional Silver Fox Advisors, who can provide guidance as you chart that course into uncharted waters. We encourage you to visit our website at www.silverfox.org. There, you can learn more about our great programs and community outreach endeavors, or about selecting a Silver Fox Advisor whom you can engage, or perhaps about even becoming a member yourself.
May Leadership Article Response
THE LEADERSHIP TRAINING/MENTORING CORNER
In the August 2025 Newsletter, we started a series called “The Leadership/Mentoring Corner” in which we posed a thought-provoking situation for you to think about and put yourself into, asking yourself, “What are your next steps?”
MAY LEADERSHIP SITUATION
William started a commercial equipment sales and maintenance business some 30 years ago, and recently, William’s son, Adam, joined the business as an Executive Vice-President and heir apparent to succeed his father. Adam graduated from a prestigious institution of higher learning with a degree in Government Studies. Adam’s ultimate goal in life is to run for public office and let the business run itself, only attending management meetings as needed and collecting a check each month as a management fee. Christopher is the Company’s CFO and has been with the business for 25 years.
After the first year Adam was with the business, he began to sell commercial business products at a huge discount to businesses that Adam thinks would be able to support his political career in the very near future. Christopher discovers the discounts Adam has given customers and confronts Adam. Adam gets defensive and tells Christopher that these situations will pay off in big dividends once he gets elected and his political career takes off. Adam tells Christopher not to discuss this situation with anyone and not to bring it up ever again, or he could be fired.
When the business’s annual financial statements are completed, William notices the big dip in annual revenues and the huge increase in cost of goods sold margin, and a break-even bottom line. William confronts Christopher, who responds that business isn’t what it used to be, and customers don’t want to pay higher prices; they may be buying cheaper products from foreign suppliers.
Christopher shares all this information with his spouse, who tells Christopher that he needs to tell William what is really going on or leave the business and find another job.
What should Christopher’s next steps be?
We polled several Silver Fox Advisors, and below are some recommendations on what Steve’s possible next steps should be:
- Christopher has been with the company a long time and is the CFO, so he should sit down with William and lay all the cards on the table, thus utilizing his position and tenure.
- Adam’s actions appear to put him on track to become a corrupt politician, so Christopher might want to assess any long-term association with Adam.
- The potential exists that in the short term or the long term, Christopher’s continued tenure with the company is something that will likely not happen, so if he wants to control the situation and his own future, he should have an honest discussion with William, submit his resignation, ask William for his support in finding a new position elsewhere, learn from this experience, and move on.
If you need assistance in becoming a better leader, I recommend you start by contacting the Silver Fox Advisors. Silver Fox Advisors are former or present business owners themselves, and they have leadership experience in running a business, and in some cases several businesses, and have dealt with unforeseen and unplanned situations throughout their careers. We encourage you to visit our website at www.silverfox.org to select a Silver Fox Advisor and also to learn more about the Silver Fox Advisors, as well as our great programs and community outreach endeavors.
