No One Can See Their Own Backswing

Commentary by Keith Kirkland 

The idea of having a mentor and the value of tapping into the experience and insight a mentor brings is not a unique concept.  But this may be the most uniquely descriptive way I have seen it presented. 

If you have ever played golf, you know that your backswing is the foundational component of all that happens after it.  It will determine the direction your ball travels, and at what speed.  It determines whether you end up in the intended location.  It can also be the reason you strike the ball perfectly, or miss the ball completely.  And haven’t we all whiffed at least once? 

Yes, the backswing is crucial to success, but no one can see their own backswing.  So how do you fix it when you can’t see it and you don’t know what you are doing wrong?  That is where the mentor comes in.  He is the one that has whiffed before…maybe many times.  But he learned how to fix it, and master it.  The time it takes for you to correct and master it on your own can be significantly reduced and improved by listening to the mentor.   

Recently, I was fortunate to hear a presentation by Rob Slee, Managing Director of Robertson & Foley, a middle market investment banking firm.  His presentation was intriguing and led me to purchase one of his books, Midas Managers: How Every Business They Touch Turns to Gold, which is where I first read the quote “no one can see their own backswing”. 

In this blog, we sometimes discuss books we are reading and publish a few nuggets that are worthy of passing along.  One of the underlying themes in this book by Mr. Slee is the idea of creating business wealth, which is distinctly different from running a business that provides a decent, or even above-average, source of income for the business owner.  

Take note of this following quote from the book: 

Privately owned businesses generate more than 50 percent of America’s gross domestic product and account for 80 percent of new jobs.  On their own, U.S. private capital markets would rank as perhaps the world’s largest economy.  But we should be alarmed: Currently about 75% of owners of private businesses are not increasing the value of their firms.  If the private business sector fails, America fails. ¹ 

Among the many interesting discussions in this book by Mr. Slee is the chapter entitled “The Midas Mentor”, in which he describes the differences between a consultant and a Midas Mentor.  Here are a few examples: 

            Consultants exist to solve problems.  Midas Mentors exist to create wealth.
            A consultant’s business experience is narrow.  A Midas Mentor’s is broad.
            A consultant’s expertise is tactical.  A Midas Mentor’s expertise is strategic.² 

Because of what we do at Presidential Financial, these two sections of the book stuck with me.  Our clients are privately owned businesses.  They are the ones that are creating the new jobs in America.  They are the ones that will help America to prosper and succeed.  It’s our job as their financial partner to mentor them on their backswing, because what we do is foundational to their business.   It’s our job to help them create business wealth. 

That ideal location where they want the ball to land?  We call that “Point B”, and it’s our job to get them there.  We help them to focus on speed, direction and that ultimate place of success.  And because we have thirty years of experience with all types of commercial and healthcare companies all across America, we have the broad business experience, and we have that strategic expertise.  And every day, we help our clients by “getting them to Point B”.   No whiffs allowed. 

 

¹  Midas Managers, preface, page 1 

²  Midas Managers, page 126