This document outlines six principles that have allowed Wisdom Adhesives, a fifth-generation family business founded in 1875, to achieve longevity and success. The principles are passion, action, reinvention, endurance, relationships, and generosity. Wisdom Adhesives is one of the oldest continuously operating adhesive manufacturers in the world and has 17 locations worldwide through adhering to these principles such as having passionate ownership, taking action, reinventing during hard times, enduring through challenges, valuing relationships, and giving back through their family foundation.
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Passion presentation rev 42715
1. Six Guiding Principles for Longevity and Success
from a 5th Generation Company
THE WISDOM WAY
2. • Family businesses comprise 90 percent of all
business enterprises in North America,
and 62% of total U.S. employment. (Small
Business Administration 2011)
• By the third generation, only 12% of family
businesses in the US are typically still
viable. (peakfamilybusiness.com 2011)
• By the fourth generation and beyond, only 3%
of family businesses continue to
exist. (peakfamilybusiness.com 2011)
• It’s hard to find stats on fifth generation
FAMILY BUSINESS STATS
3. • Founded in 1875
• Privately-held Company
• Fifth Generation Owned and Operated
• Longest Continuously Operating Adhesive Manufacturing
Company in the World
• Leading Global Manufacturer of Water-based and Hot Melt
Adhesives Used in the Packaging, Converting, and
Graphic Arts Industries
ABOUT WISDOM ADHESIVES
4. • Founded by Phillip Wisdom
• Headquartered on Canal Street
in Chicago
• George Pullman was one of
the First Customers
• Supplied Adhesives to Graphic Arts Industry
• Delivered Products by Horse and Carriage
HISTORICAL PERSPECTIVE
5. WORLDWIDE LOCATIONS
• 3 Plants in Chicago Area
• 6 Plants throughout North America
• 2 International Facilities
• 8- Co-partner Facilities
6. Experienced Many Ups and Downs
THE WISDOM WAY
OVER THE YEARS
The Path to Success Wasn’t a Straight
Ascend, but a Journey that Took Five Generations
7.
8. WHY LISTEN TO TOM ROLANDO
ABOUT FAMILY BUSINESSES?
• Executive at a Family-run Company –
Not a Family Member
• Adhesive Industry Expert
• Author of Numerous Trade Journal
Articles
• Holder of 7 Adhesive and Coatings
Patents
• Experienced Explosive Growth Serving
Our Constituents Using Wisdom Way
Principles
11. • Guided by Six Core
Principles
• Represented by the
Hexagon –
• The Strongest of all
Chemical Structures
MEANING OF THE
WISDOM WAY HEXAGON
12. HEXAGON STRUCTURE
Used In:
• Beehives
• Graphite for
Aerospace Industry
• Unlimited Possibilities –
Golf Clubs
• Lightweight and Strong
• Made of Hexagonal Tiling
• Holds Over 20x Its Own Weight
13. GIANT’S CAUSEWAY- NATURAL
HEXAGONAL ROCK FORMATION
•County Antrim, Northern Ireland.
•Volcanic Rock that Naturally formed Hexagonal Shapes When
Water Began to Cool Them Millions of Years Ago.
19. • Jeff Wisdom CEO –
The Driving Force
Behind Wisdom
Adhesives
• Overcomes all
obstacles
PASSION-
THE WISDOM WAY
20. Work Backwards Jump on a Plane
ACT LIKE YOU ARE ALREADY THERE
PERFORMERS PERFORM
BLOCK & TACKLE
Let the Hole Develop
GET AN EARLY W
Overcome Friction
Don’t Always Jump Off a Cliff
PRINCIPLE 2 –
ACTION
21. • Concentrating on
What is in Front of
You
• Constantly Evaluating
Current Status
• Making Adjustments
Accordingly
Fighter Pilot Mentality
ACTION
23. WizService™
• Calls Returned in
2 Hours or Less
• Shipments made in
24-48 hours
• Orders Confirmed
within 2 Hours
• 24-7 Availability
ACTION
The Wisdom Way
On-site, On-Time, Every Time
24. “I’m Going to Make Him an Offer He Can’t Refuse.”
ACTION
The Wisdom Way –
Ownership Selling
26. During the Great Recession,
Wisdom Adhesives
Reinvented It’s Business by:
• Re-focusing on Our Core
Products and Technologies
• Putting Every Person in the
Company
on the Sales Team
The Wisdom Way
REINVENTION
29. PRINCIPAL 4 –
ENDURANCE
“Endurance is One of
the Most Difficult
Disciplines, but it is
to the One Who
Endures that
the Final
Victory Comes.”
- Buddha
30. “It’s Hard to Beat
a Person Who
Never Gives Up” –
Babe Ruth
BABE RUTH ON ENDURANCE
36. PRINCPAL 5 –
RELATIONSHIPS
“The Greatest Ability in is to Get Along with Others
and to Influence their Actions”
~ John Hancock
37. Know the Strengths and
Weaknesses of Your Organization
RELATIONSHIPS
Butch and Sundance – An Effective Team
38. Do You Believe In Miracles?
"You Win with People……the Quality of the People is the Most Important
Aspect of Building your Team”
~ Herb Brooks
RELATIONSHIPS
41. JOHN WOODEN
ON GENEROSITY
“You Can’t Have a
Perfect Day Without
Doing Something for
Someone who will
Never be Able to
Repay You”
~ John Wooden
42. Wisdom Family Foundation
Incubator Program
for New Companies:
• 6 New Incubator
projects in 2014
• 21 since Inception
• 2 Viable Businesses
Today
GENEROSITY
The Wisdom Way
Support Youth Activities with
5% of Pre-tax Profits
43. APPLY THE SIX PRINCIPLES
OF THE WISDOM WAY
Grow from an Acorn
to a Strong Oak Tree
Review By Charles Reynolds
on March 10, 2015
“Brilliant book with proven principles
that apply to all businesses! Very easy
to read as it is set out in pithy
sections...highly recommended.”
44. Passion
What are your passions?
Does your work inspire you?
Action
Do you have a plan for tomorrow? Next week? Next month?
What can you do today to make your business stronger?
ASK
YOURSELF
How can I incorporate
PASSION
ACTION
REINVENTION
ENDURANCE
RELATIONSHIPS
GENEROSITY
into my life and
business?Example
TR
45. “When You Have
Passion and
Determination, You
Can Accomplish
Anything.”
~Abraham Lincoln
The Wisdom Way Example
Family business is the engine that drives our economy,
140 years later we are a leading global manufacturers of water-based and hot melt adhesives used in the packaging, converting and graphic marts industries.
With locations and partners all over the world.
How did we get there? By following six guiding principles that we call The Wisdom Way. These principles have been the keys to our longevity and success.
Principle #1 – Have Passion - Can you name a single person who is successful but not passionate?
Principle #1 – Have Passion - Can you name a single person who is successful but not passionate?
Principle # 2 – Take Action
Principle # 2 – Take Action
140 years later we are a leading global manufacturers of water-based and hot melt adhesives used in the packaging, converting and graphic marts industries.
What happens when you don’t reinvent? You can become the blackberry of your industry . Called “Crackberry” in 2007 and rightfully so, was clearly the most popular handheld phone on the market and dominated the “cool” factor. With the introduction of the iPhone and Droid system, popularity took a precipitous dive that the company has yet to pull out of.
Principle #4 - Endurance – be in it for the long haul. As Budda said - “Endurance is one of the most difficult disciplines, but it is to
the one who endures that the final victory
comes.”- Buddha