Ever wonder how 2nd generation service businesses succeed; especially businesses growing through the biggest communication revolution in mankind’s history? Wonder no more. DOWNLOAD
Ted talks about how he and his Dad, John Risdall, who founded Risdall Marketing Group (RMG) in 1972 led together. In 2016, Ted and his wife, Jennifer Risdall, became sole owners of this modern marketing agency. RMG is known as one of the most integrated interactive advertising and marketing agencies in Minnesota.
Ted and Jennifer Risdall are on the positive side of the one third of family businesses who are doing what it takes to lead a 2nd generation interdependent business. According to Forbes article, The Facts of Family Business, “less than one third of family businesses survive the transition from first to second generation ownership.” (2013) They are getting professional help and taking their advice, learning from other family business owners, having heart conversations with family members, keeping a pulse on the business model and cash flow, updating cultural traditions, and doing the work to transition into new roles and responsibilities. A messy process, yes, but totally doable. Here are Ted’s rapid insights about his transition and some learnings for you.
Ted’s rapid insights and learnings for you:
- The biggest communication revolution in mankind’s history in a snapshot,
- Ted’s business partnership with his Dad; best friend and buddy, had a good run,
- How Ted and Jennifer joined RMG,
- John’s success in building the Agency and Ted and Jennifer’s new vision,
- Navigating change in their marital relationship to emerge as co-leaders,
- Transitioning with long-term employees,
- Tina Risdall’s role in the company (John’s wife and Ted’s stepmother),
- What is now considered terrestrial marketing,
- Making the leap to stay relevant and how it applies to you,
- RMG’s Digital Maturity Assessment,
- Chef-driven Restaurants and Medical examples of the Digital Ecosystem, and
- Funnel of Attribution (the detailed process of tracking online interactions in getting customers and measuring the impact of those interactions)
- Finding the needles (customers) in the haystack.
WeMentor Self-Leadership Activation Exercises
After listening, do the following WeMentor Self-Leadership Exercise:
- Think about the areas where you are building value in your business. Brainstorm ways to build more value.
- Imagine the kind of culture you would like to pass on (processes, systems, ways you communicate, what is important to you, your core values, etc.)
- Visualize how you would pass along your business to the next generation whether it be a family member or not. If you are just starting out, imagine what you want in place and what size you would like to grow to.
Self-Leadership Mentoring Opportunities
- One-On-One Mentoring
- WeMentor Mini LAB: Explore the Heart of Self-Leadership
- Subscribe to this podcast!
Creativity Unleashed Technology Applied Marketing Transformed
2nd Generation Leaders at Risdall Marketing Group Episode 190 Risdall Marketing Group
Podcast Guest Mentor
Ted Risdall. Risdall Marketing Group LLC is a modern marketing agency founded in 1972. It is known as one of the most integrated interactive advertising and marketing agencies in Minnesota.
They establish strong connections at each stage of the customer journey. By applying human-centric thinking, you design effective customer engagement strategies, blending technologies and data to create connections and content that disrupt, capture attention, and prompt action.
In a 2018 Twin Cities Biz Journal interview Ted said, “John started and built an amazing agency, and we’ve turbo charged it into a growth engine for entrepreneurial companies.” He’s been my mentor on how to build a successful agency by organizing around clients’ business needs.”
Episode 190: 2nd Generation Leaders at Risdall Marketing Group
Author: Nancy A. Meyer, M.A.
Nancy A. Meyer, M.A., is a seasoned entrepreneurial leader, business and life mentor/coach/teacher, podcaster, author, and certified mindfulness yoga and meditation integrator (she integrates those skill sets into everything). Nancy’s compassionate and collaborative approach reinforces resilience while maintaining accountable conversations supporting how you redefine your lead while redesigning your business. Nancy calls this “Dual Innovation Leadership.” Nancy founded WeMentor, inc. in 1992 to change the leadership in our country by providing emerging and existing business owners with mentoring in Dual Innovation Leadership. She has mentored thousands and is eager to work with you! Assert self-leadership and get started today! Clients say, “Nancy is a compelling, engaging, and ‘decipher the trees from the forest’ kind of mentor, speaker, and leader. A dedicated entrepreneurial leader and mentor who role models what she preaches. Her style and candor enrich the content she delivers and the results clients experience.” Nancy accepts people where they are while inspiring them to breakthrough into new dimensions: As an Entrepreneurial Leader (Innovator), As a Competent Business Owner (Practitioner) As a Mentor (Role Model) As a Spiritual Being and Self-Leadership Master! Start by subscribing to WeMentor Mondays with Nancy PODCAST. Join your peers and...
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