RSS Feed
Compromise
May 10th, 2021
by Bill Boyajian

A big industry personality years ago had a motto: “Never Compromise.” I understood his view, which was focused on quality in everything he did. The concept worked for him, but I’m not sure it works for the rest of us.

People talk about compromise as if it’s a bad thing. Anyone who’s had a long marriage would probably disagree. You have to compromise if you want to stay married and be reasonably happy. It works the same in partnerships and family businesses.

Compromise is a relative term, and it depends on what you’re referring to. Compromise our integrity? Never! Compromise on issues that are truly debatable or in a gray area? Probably just fine.

We could probably use some compromise in Washington DC. Maybe also in our businesses when generations collide. The key to compromise is knowing the absolutes and when you should, and must not, compromise.



Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

“I needed help orchestrating a succession plan for our business. I had heard that Bill Boyajian specialized in assisting owners to transition their business to the next generation. He knows how to bridge the generation gap and deliver what each needs to hear. I would recommend Bill to any business owner who needs advice on succession planning from a trusted outside professional.”

–Charles Denaburg,
Managing Partner,
Levy’s Fine Jewelry
Birmingham, AL

"Our family needed some guidance on business transition and succession planning. We asked Bill Boyajian to help us because we knew we could trust him to tell us what we needed to hear. Bill became a valuable resource for our company and our entire family. He has the ability to meet each of us where we’re at and it has served us very well."

–Ceylon Leitzel
Leitzel Fine Jewelry
Hershey & Myerstown, PA

“We needed a plan to transition our business to a non-family member and we asked Bill Boyajian to help us. His experience in the area has really paid off, but we didn’t expect the added value of putting us together with a financial planner who helped organize our retirement needs. We now have the fundamentals to transition our business successfully, and we have Bill to thank for it.”

–Ernie & Debbie Cummings
Kizer-Cummings Jewelers
Lawrence, KS