“Peter H. Thomas is a man whose accomplishments speak for him. He is a man of integrity, who one day had an epiphany that has governed his life ever since. That epiphany was coming to realize that a life worth living cannot be absent of foundational values. This applies not only in business, but in all relationships, personal and professional.”

-          Mark Victor Hansen, Co-author of Chicken Soup for the Soul, Cracking the Millionaire Code and One Minute Millionaire 

Have business leaders lost their core values?

With revenues falling, unemployment rising and pressure on increasing the bottom line ever-present, leaders are under greater pressure than ever to get results. 

From Madoff and the alleged Ponzi scheme based in Calgary to massive bank bailouts followed by huge executive bonuses, business leaders have lost sight of their values in favour of the bottom line.

In the new book Be Great: The Five Foundations of an Extraordinary Life in Business – and Beyond (Wiley; Cloth; October 2009; $26.95) entrepreneur Peter H. Thomas shares his business experiences to show readers what it means to be successful in business without compromising your values.

As the founder and developer of Century 21 Canada and the developer of several billion dollars of real estate projects in North America, Thomas understands the challenges of succeeding in business without compromising what you stand for.

Thomas can talk about:

• Do values still have a place in the boardroom?  How to manage without hurting the bottom line;
• What happens when values are put aside for greed – the public outcries over misspent public funds (as with the firing of the entire OLG board);
• Leading through tough times:  Thomas has gone through an exceptional financial crisis and the tragic loss of a family member, both of which challenged and clarified his values.

In Be Great, Thomas shows that we have choices: we can live by our values and incorporate them into our business life or we can abandon them in our chase to the top.   Employing and standing up for your values is the difference between an effective leader and a follower.  It is a true measure of achievement. 

As well as this new book, Thomas, in conjunction with Royal Road University in Victoria, have just launched The Todd Thomas Institute for Values-Based Leadership. Envisioned to become a leader in education, research and practices to scholars, entrepreneurs and institutional and community leaders, the institute will focus on the practice of values-based leadership. More information is available at www.toddthomasfoundation.org

 About the Author

Peter H. Thomas is one of the leading real estate developers and lenders of his time in North America, developing several billion dollars of projects including shopping centers, apartment and condominium developments, land assembly, and golf courses. He is best known for his success as founder of Century 21 Real-Estate Canada Ltd., Samoth Capital Corporation (now known as Sterling Centrecorp Inc.), and the development of the Four Seasons Resort in Scottsdale, Arizona. After the tragic loss of his son in 2000, Peter decided to focus his time and energy on social entrepreneurship, and to share his experience and philosophy with others. He is the Founder and Chairman of LifePilot, the Founder and Chairman of the Todd Thomas Institute for Values-Based Leadership at Royal Roads University in BC, Canada, Chairman Emeritus of the Entrepreneurs’ Organization (EO), and Vice-Chairman of the Collegiate Entrepreneurs’ Organization (CEO). 

During a recession it is natural for companies to look for ways of reducing their expenses.

Franchisors are no different in this regard. As it can be a significant expense for a franchise company, one of the first things to come under the microscope is their annual convention. In my opinion, eliminating the annual convention entirely can result in greater costs to the franchisor through reduced franchisee morale and ultimately franchisee attrition. In addition to their own budgetary concerns, franchisors must also consider their franchisees budgets, as they may not have the necessary funds to attend a convention. As I have discussed in previous blogs, the value that is created in bringing franchisees together, whether for a regional meeting or an annual convention, should not be underestimated. In fact, I firmly believe that an annual convention is a critical component in the success of a franchise network for a number of reasons.

Conventions are part of the ‘glue’ that holds a franchise network together as it reinforces all the values the franchisor has to offer. If there is no alternative but to cut the convention from the budget the franchisor should explore all other options to ensure that communication with franchises on a system wide basis is maintained. One alternative that should be explored is using webinars. Webinars can be generic or specific in content. Franchisees can log onto a webinar with generic topics such as customer service, relationship selling or phone sales techniques. This is typically the least expensive solution; however, one of the components of a franchise system is that the franchisor provides its franchisees with things they can’t easily get for themselves and the information in these types of generic webinars is available to any business. The better alternative is webinars that are customized to the franchise organization or the franchisor’s area of business and gives the perception to its franchisee that the webinar has been specifically designed for the respective franchise system. The best alternative is to hire a speaker of the caliber that you would normally hire for a convention and have their presentation delivered via a webinar. In summary, there are a number of viable alternatives than totally eliminating a convention to deliver information to your franchisees.

Norm Friend

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