Stuart Lindeman’s Post

When I arrived to speak at the Corporate Coalition of Chicago’s meeting on Business Opportunities in Community and Economic Development, I realized I was at a meeting of "unicorns." These remarkable business leaders, convened by the equally remarkable Brian Fabes and Bob Weissbourd, are breaking new ground with business leadership in communities to create good jobs and advance equitable prosperity in Chicago. These unicorn leaders are rare but fortunately they are growing in number. After listening to them and the inspiring work they are doing, I set aside my prepared slides and instead spoke from the heart about what I've learned in 20 years of studying and advising leaders on complex systems change. I shared 7 key principles for business-led community economic development (CED). What do you think of these principles? I'd love to hear from you! 1. Determine at the outset when to collaborate and when to go it alone. Given the investment required to collaborate and “play well with others,” companies should go it alone when it makes sense — and collaborate around problems or opportunities that can’t be tackled by their organization alone. 2. Bring the right people to the table to lead the effort. Don’t accept just anyone who volunteers; figure out who’s best suited and keep asking until they say “yes.” 3. Boil down big aspirations into a single, concrete goal that puts a picture in people’s minds. Then divide that goal into a handful of simple “steppingstone” chapters. Communicate progress relentlessly and consistently. 4. Don’t simply copy-and-paste what’s worked in other regions. Learn from others and adapt what they’ve done so it’s appropriate to your context. 5. Do your sensemaking to understand the community ecosystem. Figure out what capacities exist and where capacity building is needed as you try to understand where to contribute. Develop and rely on trusted and trusting partners in the community. 6. Embed your efforts in a collective to leverage your investment. This could be a corporate coalition or a chamber of commerce that’s open to community-minded projects around issues like housing, transportation, or childcare. 7. Above all, listen. Find out how you can honor and recognize the community-building work that has been underway, and how your goals fit, before you try to create something new. I hope these principles contribute to moving the state of the field beyond the “unicorn party” that convened in Chicago to making company-led, place-based work more of an expected way to do business. Visit my website to read more about my research: https://lnkd.in/gmCStVV5 Read the meeting report here: https://lnkd.in/gtTjdzUX #inclusivelocalthriving #localthriving #distributedleadership #nimbleleadership #leadership #CED #communityeconomicdevelopment

Who holds the power: the board Chair or the Chief Executive? My third column about #governance for Inside Housing explores Step 3 in my 'Ten Steps to Become a High Performing Board' - Realising the importance of the Chair/CEO dynamic. Two governance luminaries Patrick Dunne and Bob Tricker have a lot to say about the Chair/CEO dynamic. Dunne says, 'the chair runs the board and allows the chief executive to run the organisation'. Professor Tricker argues that, 'the relationship between the chair and the chief executive is one of the most crucial, most sensitive and most subtle relationships in the company'. The chair and chief executive sit either side of the fulcrum (imagine a seesaw) which represents which the organisation's governance, its stewardship and management roles, interact. As Tricker says, this relationship needs to be appropriately balanced. But is the balance between chair and chief executive right in the majority of today's #socialhousing providers? The Regulator of Social Housing expects board members in the main to serve no more than six years, which in practice means many chairs will serve for between three and six years before they retire from the board. Meanwhile many chief executives have been in post for twenty years or more. Where does the power lie when the balance in terms of years of experience with a housing provider is so one sided? Can the board's authority and accountability for the executives' actions be effectively sustained in such cases? What do we think about the balance of power between chairs and chief executives in housing providers? Please comment. Kate Still FCIH FRSA Aileen Evans Alison Inman OBE CIHCM Andrew van Doorn OBE Lara Oyedele ✊🏽 🍉 Jill M. Tom Murtha steve walker alistair mcintosh Julie Fadden Paul Hackett CBE Victor da Cunha Elly H. Sheron Carter Andy Belton James Tickell Andrew Cowan Peter Hubbard Victoria Jardine Julia Moulder Hilary Milne Mike Gaskell David Clark Tony Oakley Matthew Gardiner Ian Wright Catherine Little MBA CIHCM Shruti Bhargava Emma Comer Trudi Kleanthous Argiri Papathos FRSA Jitinder Takhar Stuart Macdonald Paul Bryan Matt Baird Ozay Ali #highperformingboards #goodtogreatgovernance #TenSteps

For Jim Dwyer, ICEO Peer Advisor, time seemed almost infinite – until it didn't. As executives consider moving to the next phase of their career, Jim recommends exploring how to contribute while getting greater control over your time. "The reminder that time isn't infinite helped me focus on balancing what I really wanted to do across the whole canvas of my life. I ended up building a portfolio of for-profit and non-profit Board work in areas I love." Read the full article: https://lnkd.in/gGQfJBkr

Taught my fifth class for this semester's “The Entrepreneurial Family Office” course at SMU Cox School of Business. This session was focused on single family office philanthropy and next generation. We had a great discussion on the issues surrounding these complex issues within family offices and my MBA students captured a number of lessons from the HBS case study "Ensuring Your Family's Future: The Alagil Family Office" which I highly recommend reading for anyone interested in the topic: https://lnkd.in/d4qBUeir Next week we will discuss the family office ecosystem and the various networks, conferences, and clubs that attempt to aggregate family offices. We will also hear from more great family office speakers live and in-person. Overall the curriculum provides MBA students with an overview of all the major components and challenges of starting, growing, and successfully managing a family office. We explore the various types of family office and how the ultra-wealthy structure their family office with their existing businesses to plan their family legacy. We also investigate how start-ups and venture capital firms can access the billions of dollars of patient, flexible capital that family offices control through a mixture of coursework, case studies, and guest speakers. According to this Forbes Article, family offices are the fastest growing source of capital for many areas of finance, entrepreneurship, wealth management, and philanthropy: https://lnkd.in/g3R_RhbN Whether you want to start a business, work at a start-up, join a private equity firm, wealth management firm, or non-profit, or eventually build your own family office, this course offers unique insights into the business components and leadership practices of today’s premier family offices. #familyoffice #familywealth #familybusiness #SMU

For Jim Dwyer, ICEO Peer Advisor, time seemed almost infinite – until it didn't. As executives consider moving to the next phase of their career, Jim recommends exploring how to contribute while getting greater control over your time. "The reminder that time isn't infinite helped me focus on balancing what I really wanted to do across the whole canvas of my life. I ended up building a portfolio of for-profit and non-profit Board work in areas I love." Read the full article: https://lnkd.in/gQVgJjjf

I joined my first Advisory Board ~10 years ago when I started advising San Jose State University where I earned my MBA - go Spartans! Since then I've joined and stepped off different Advisory Boards at various non-profits and start ups. It's brought interesting experiences, much joy and lots of new friends. I encourage folks to join a Board of Advisors for their own professional development and personal fulfillment. 🍵Tea on Advisory Boards ➡A group of experts who share advice about trends they see in the industry, recommended changes in operations, introductions to folks in their network, etc. ➡Unlike a Board of Directors with fiduciary responsibilities, Advisors don’t have any liability, allowing them to freely give advice. ➡If an Advisor at a non-profit you’re a volunteer, if advising a start-up you might receive a modest amount of equity, if at a profitable company you would likely receive a modest fee. ➡Time commitment: You might meet as a full Advisory Board for an hour once a quarter or you never have scheduled meetings and are just on-call if the Founder wants to occasionally pick your brain - I've experienced both. ➡Advisory Board members should be experts in their field, individual thinkers and not give in to group think. 🤔Where to Start: ➡Identify organization or companies aligned with your expertise ➡Reach out to them expressing your interest and highlighting your relevant skills and experience ➡Network and attend events aligned with the organization / industry you're interested in supporting - let people know you're interested & available Some of my Advisory Boards over the years: 🎓University of California, Berkeley, College of Letters & Sciences 🎓Lucas College and Graduate School of Business at SJSU 🎭TheatreWorks Silicon Valley 🎭Palo Alto Children's Theatre 💄Bossy Cosmetics Inc. 💡The Commonwealth Club of California 🎓Coursera ⛲Fountain 🎱Eightfold 🦊Onwards HR 💰Sales Impact Academy 💰Sales Community 👽A.Team 🙋♀️SucceedSmart 🎢Uplimit 🎁Fond 🧗♂️BetterUp ☎Hone 🌍Global Silicon Valley ☕️Greater Moment #professionaldevelopment #givingback #advisoryboard #advisoryboards

If you missed Campden Wealth Education's inaugural Module 1: Becoming Responsible Stewards of Family Wealth, have no fear. The next session is starting Feb. 19, with the live case study taking place at 8am ET on March 12. I hope you can join me! #familywealth #familyenterprise #familyoffice #familybusiness #stewardship #generationalwealth https://lnkd.in/egJeCTB4

Title: Transitioning from Family Enterprise to Family Institution: Key Insights from LBS Family Initiative Program Last week, I had the privilege of attending the Lagos Business School (LBS) Family Initiative Program, where Mrs. Ibukun Awosika delivered a compelling keynote address emphasizing the pivotal role of vision, strategy, and values in evolving a family enterprise into a lasting institution. Here are some key takeaways from the event: 1. Craft a Family Constitution: Establishing a family constitution lays the foundation for governance, defining roles, responsibilities, and succession plans, ensuring continuity beyond individual members. 2. Embrace Effective Governance: Implementing a robust governance structure is essential for decision-making, conflict resolution, and maintaining transparency and accountability within the family business. 3. Address Compensation Discussions: Openly discussing family compensation helps align expectations, ensuring fairness and equity while fostering harmony among family members involved in the business. 4. Prioritize Succession Planning: Developing a clear succession plan is critical for seamless transitions and securing the future of the family business. Implementation strategies are as vital as the plan itself. 5. Consider Non-Family Leadership: Recognize the value of competent non-family members as potential successors, prioritizing meritocracy and expertise over lineage for sustained business success. 6. Nurture Next-Generation Interest: Cultivating your children's interest in the business from an early age fosters a sense of ownership and responsibility, laying the groundwork for future leadership. 7. Leverage Independent Directors: Incorporating non-executive or independent directors can provide valuable insights, impartial guidance, and facilitate resolution during boardroom conflicts. 8. Trust in Structure, Not Individuals: Relying on a well-defined structure rather than individual personalities safeguards against uncertainties, ensuring continuity and resilience in the face of challenges. Transitioning from a family enterprise to a family institution requires a deliberate effort. By implementing these key principles, families can build enduring legacies that transcend generations. #FamilyBusiness #Governance #SuccessionPlanning #LegacyBuilding #LBSFamilyInitiativeProgram

Sitting on boards of corporations, educational institutions and community organizations can help entrepreneurs build their networks, expand their skill sets and share their professional expertise. Here are a few factors to consider before joining a new board.

Sitting on boards of corporations, educational institutions and community organizations can help entrepreneurs build their networks, expand their skill sets and share their professional expertise. Here are a few factors to consider before joining a new board.