Articles

June Business Tips From the Editor

BUSINESS TIPS FROM THE EDITOR

June 2025

Richard T. Hendee, Editor
The Silver Fox Advisor

“TECHNOLOGY - My Most Valuable Asset”

Probably one the most over looked valuable assets businesses have today is centered in its “Technology”.  The overall value is not listed on the businesses balance sheet other than the value of the hardware (computers, printers etc.) or some specialized software system like NetSuite, which has either been depreciated off the books, or based on the value of the individual piece of hardware or software system, simply expensed in the year it was purchased.

But the real value in a business’ technology (from a very broad sense) lies in the information and data stored on various hardware devices and/or software systems. Information like customer files and details, accounts receivable and accounts payable records, general ledger data, financial statements, tax returns, bank statements and records, fixed asset registry, inventory records, employee records and files, payroll data, policies and procedures (some of which may be proprietary), and the list goes on. Some of this information and data maybe backed up “on the cloud”, but other files and records may be on individual devices or on some main frame stored in the closet.

Have you ever thought about what it would cost to rebuild all of this information and data, let alone how long your business would be potentially shut down if one day all this information and data were gone or inaccessible?

Many small businesses can’t afford to have an IT expert on staff, so the business owner’s brother-in-law may be the business’ IT expert because he “knows what he is doing”. Other businesses contract with what is known as an MSP (managed service provider). But not all MSP’S are equal. Some are very good for small operations, but potentially can get bogged down on larger more complex situations or when their client base gets larger than they have the ability to service.

Because of the tremendous exposure businesses have to the loss of these files and records from hackers and other forms of data loss, like human error or employee theft, protecting these files and records should be a top priority. But, unfortunately in most businesses it is not a major issue, primarily due to the cost, the lack of knowledge or what are seemingly more important issues that the business owner needs to take care of today, after having already put in a 15-hour day. 

If you need help with your business’ most valuable asset, I would recommend you seek an experienced business advisor, coach, consultant or mentor with a financial or business background for your Company: Contact a Silver Fox Advisor. Remember, having experience on your side always helps.

We encourage you to visit our Website at www.silverfox.org or www.silverfoxadvisors.com to select a Silver Fox Advisor and also to learn more about the Silver Fox Advisors and their businesses, as well as our great programs and community outreach endeavors.         

"Process Should Drive Outcomes Not Obscure Them"

"Process Should Drive Outcomes Not Obscure Them"

by

Jonathan Phillips
A Silver Fox Advisor

Don’t Let Process Obscure Outcome

Staying Intentional in Retained Search and Career Navigation

Over the years, I’ve learned a lot about how people make big decisions—whether it’s hiring a senior executive or making a career move at the top of their game. One lesson I keep coming back to is this:
Don’t let the process obscure the outcome.

Process matters. It brings structure, helps manage complexity, and keeps everyone aligned. But if we’re not careful, it can become a trap—something we follow so closely that we miss the very result we set out to achieve.

In Retained Search: Good Process, Not Perfect Candidates

In executive search, it’s easy to get caught in the hunt for the “perfect” candidate. We build a beautiful position description. We outline 47 qualifications. We rate and rank. And in doing all that, we sometimes lose sight of what really matters: finding a great leader who will make a meaningful difference.

I’ve seen companies pass over candidates who could have been transformational—because they didn’t fit the checklist exactly. They had the right values, they were coachable, they had the track record… but they didn’t check every box. And the box-checking became the focus instead of the outcome: getting the right person in the chair.

Our job as search professionals isn’t to run a flawless process. It’s to help our clients hire someone who will stick, lead, and grow the business. The process helps—but it’s not the point.

In Career Strategy: Stay Open to What Might Show Up

This same idea shows up in our Career Compass Navigator work with senior executives. We guide people through a structured approach to clarify what they want and need in their next role. We help them define their mission, vision, values. It’s powerful work.

But sometimes, an unexpected opportunity comes up—a conversation, a referral, a job that isn’t quite what they thought they were looking for. And the instinct is to say, “No, that’s not in the plan.”

Here’s the thing: the plan is supposed to help you recognize the right opportunity—not rule it out. Sometimes the best next step doesn’t arrive in a neat little box. And if you’re too focused on the process, you might miss it.

How to Keep the Outcome in Focus

Here’s what I remind clients—and myself—when process starts to take over:

1. Be clear about what success looks like.
   In a search, what does a successful hire actually need to deliver? In a job search, what does a fulfilling next chapter feel like—not just what title does it have?
2. Use process to guide, not to control.
   Let your structure be helpful, not limiting. Ask yourself: is this process helping me see more clearly, or is it closing off options I should consider?
3. Make space for judgment, intuition, and real-world context.
   The best outcomes usually involve a little messiness, a little serendipity, and a human touch.

Final Thought

I believe in great process. But I also believe in staying flexible, open, and intentional. Whether we’re helping a company make a pivotal hire or working with a senior leader to figure out what’s next, our focus should always be on the outcome: the right match, the right move, the right moment.

So yes—build your process. But keep your head up. That unexpected opportunity, that imperfect candidate, that coffee meeting you almost canceled—that might be the one that changes everything.