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The Human Capital Side of Owning a Business

The Human Capital Side of Owning a Business

By: Ross Paterson

First Who, Then What

A few years ago, my college roommate came to Fort Worth for a few days to take a look at XM Performance. Like many of us, he was trying to figure out what he wanted to be when he grows up. For three days he rode shotgun with me, visiting clients, meeting with prospects, participating in Leadership Forums with other business owners. His comment at dinner Friday night was, “All you guys talk about is PEOPLE.”


We trained 12 business owners and executives last month in our Rockstars or Deadweight? Boot Camp. Teaching them how to take a Critical Personnel Inventory, handle underperformers, and plan the human capital side of small business growth. Every time we show leaders this process they say, “I wish someone had taught me this 5, 10, 15 years ago.”

In his classic book Good to Great, Jim Collins spends an entire chapter on “First Who, Then What.” Most owners in the small/medium business space spend very little time planning for their future human capital. Sometimes it is because they are already overwhelmed with too much work, and almost always they don’t have a simple, effective process for building their future bench. Our next Rockstars or Deadweight? Boot Camp is August 29th. If you need help now, schedule a call with us today.