Four Sides to Every Story

Business consulting strategies

Four Sides to Every Story

By Brian Smith

In Objective Management, there are four sides to every story.

Being a manager in a small or medium-sized business can be quite stressful at times. Your primary responsibility is probably to grow revenue, profit margins, or some other important high-level metric by leveraging your experience along with your Policies and Procedures, which guide your decisions. From working with thousands of businesses and tens of thousands of managers and employees, we have learned there is an opportunity for creating a more consistent work environment. This opportunity can be addressed with the proper balance of experience and structure.

Many times, the structure comes in the form of a well-written (and followed) Policy and Procedure manual. Without Policy and Procedure, individuals must rely on their own organizational skills/memory to remember their assigned tasks, as well as company standards that may or may not have been established. Day to day, we may begin to notice that our memories are not up to par as they pertain to remembering what we have completed and need to complete each day. It may also be hard, at times, to remember certain events happening.

Each of us has a different way of remembering things that apply to our own way of storing information, which is why stories are not consistent between different individuals. When it comes to remembering that information, we fall back on our own way of “telling the story” to whoever wants to hear it.

We believe one of the first steps to successfully managing others is with an Objective Management style. This means managers need to realize there are four sides to every story:

There is the side of the first participant

When an incident happens or a manager is trying to determine what happened, there is always the point of view of the person involved. Why were the numbers low? Why was this customer upset? What happened with XYZ? The list goes on and on, but you get the point. Whoever was participating will have the side of the story.

2. There is the side of the person telling the story

When getting the story from a third party, their point of view will inevitably be very different from the point of view of the participants. It doesn’t matter if this person has anything to gain or lose from altering the story, and he or she might not even mean to alter what happened, but they will always describe what happened from their perspective. This perspective can only include what this person perceived and still might leave out valuable details.

3. There is that which you believe

What you believe is very important. Unfortunately, if an employee has been given a number of chances or has even cried wolf once or twice in the past, it will be hard to review the stories without a sense of bias. Believability can be influenced by emotions like fear or anger. It’s important to keep this in mind when reviewing others’ stories and determining what you believe.

4. There is the truth

Ah hah! Now we’re getting somewhere. What the heck actually happened? What are the facts? This is the truth! Numbers never lie. If you’re a sales manager trying to figure out why a sales associate didn’t hit their numbers, the first three sides could be almost anything. If you have the proper key performance indicators, you can drill right down to the truth. How many calls were made? How many appointments were set? How many proposals went out? How many new prospects were put into the sales funnel? All of these metrics are unbiased, factual, objective (pick whichever word you like), and true.

Now, we concede that all four can be the same, however history tells us that stories change each time they are told or each time we hear them. We have all played the grade school exercise where a story is told to one person and they are asked to pass it around the class, only to find that at the end of the line the story has changed, sometimes drastically.

A manager can listen to all the information being presented to him/her and to discern from the details the key facts that need to be pieced together to show what the issue at hand really is. With so many things affecting today’s managers, employees, vendors, and customers, it’s no wonder the stress level in the work place is at an all-time high. By listening and realizing there are four sides to the story, you can give yourself the information needed to resolve any issue presented in a fair and equitable manner.

Four sides to every story are part of our BizVision Management program, one tool offered by IA Business Advisors.

New Button

< Older Post

Newer Post >

A blue piggy bank is sitting on top of a stack of wooden blocks.

How to Mitigate Financial Risk Using the S.M.A.R.T. Management System

June 9, 2025

In an increasingly volatile economy, businesses cannot afford to be reactive when it comes to their finances. Whether you're a startup founder, a growing enterprise, or a seasoned business owner, the risk of financial instability is real—and growing. At IA Business Advisors, we help companies proactively navigate these risks using our comprehensive S.M.A.R.T. Management System . S.M.A.R.T. is more than just a goal-setting acronym. It is a decision-making and execution framework that brings clarity, structure, and alignment to every part of your business. From six-week action plans to one-year targets and long-term strategy, S.M.A.R.T. ensures your financial operations support healthy growth and resilience. Understanding Financial Risk in Today’s Business Climate Financial risk is multifaceted. It ranges from cash flow disruptions and market shifts to internal mismanagement and over-leveraged growth. As Brian Smith shared on a recent Daily Influence podcast episode, unchecked growth can drive a company into bankruptcy. Scaling without intention—chasing fast growth without aligning the internal team and financial resources—leads to diluted communication, quality issues, and operational chaos. Mitigating financial risk begins by understanding that more revenue doesn't always equal more stability. True sustainability comes from building systems that support intentional, well-paced growth. The S.M.A.R.T. Framework in Action: Reducing Financial Risk Our S.M.A.R.T. Management System guides businesses in creating resilient, financially stable operations through: 1. Specific: Build with Intentionality Clarity is power. One of our podcast guests, Mike Heatwole (CEO of The Dala Group), emphasized the importance of sitting down to define what matters most—whether that’s paying down debt, investing in growth, or launching a new venture. When your financial goals are specific, your strategy becomes targeted and less prone to reactive decision-making. “If we don’t know what the goal is, how do we get there?” — Mike Heatwole, CEO of The Dala Group 2. Measurable: Track What Matters Many companies are blindsided not by invisible risks, but by unmonitored ones. We help clients implement tools to track cash flow, margin fluctuations, and budget variances in real time. Visibility into your financial health gives you the power to respond early and course correct as needed. 3. Achievable: Assign Financial Stewardship Risk is reduced when financial responsibility is distributed. Through teamwide financial literacy and clear accountability, we empower organizations to make stronger daily decisions. No individual person should carry the entire burden—and no key area should go unmonitored. 4. Relevant: Make Risk Management a Habit Quarterly or biannual financial health check-ins create a sustainable rhythm. These don’t have to be complicated—they just need to be consistent. Regular reviews embed risk awareness into your company culture and decision-making process. 5. Timely: Foster Honest Dialogue Financial silence is a hidden threat. As Brian noted on the podcast, emotions like fear or shame can prevent businesses from facing financial realities. We encourage honest, blame-free communication around financial performance, creating space for solutions and collective action. Case in Point: Short-Term Action, Long-Term Impact One of our clients, a family-run distribution company, had strong revenue but was bleeding cash due to aging receivables. Together, we built a six-week S.M.A.R.T. Plan focused on accounts receivable recovery. We implemented weekly check-ins, assigned ownership, and used real-time tracking. Within 90 days, their outstanding A/R dropped by 22%, freeing up capital and restoring operational confidence. It’s Never Too Late to Get Financially Intentional Many leaders in their 40s, 50s, or 60s worry they’ve waited too long. But as Mike Heatwole wisely shared: “It’s never too late. Just get started. Do something.” Progress—not perfection—is the goal. Start small. Build momentum. Take the next best step. This mirrors a concept we love from The Gap and The Gain by Dan Sullivan: measure progress based on how far you've come, not just how far you have to go. Final Thoughts: Make Financial Stability a Strategy Mitigating financial risk isn’t about a dramatic overhaul. It’s about consistent action, visibility, and intentional decision-making. With the S.M.A.R.T. Management System, IA Business Advisors helps businesses turn risk into clarity, fear into focus, and instability into opportunity. If you’re ready to start, we’re ready to help. Let’s have a conversation about what matters most to you—and build from there.

Enhancing Interpersonal Relationships for Toxic Workplace Recovery

May 29, 2025

Hello, team! Mary here, continuing our journey through the I in Team series, where we challenge and empower you to Find , Be , and Build Your Influence. One of the most common things we’re asked to help our clients with is toxic workplace recovery. This directly connects to the culture of the team, and while rebuilding that culture takes time and intention, it is absolutely possible. In fact, with the guidance of our I in Team approach and S.M.A.R.T. Management system, we’ve successfully helped more than 19,000 teams evolve into high-performing, values-based cultures. If you’re ready to take the lead and breathe life back into your team, we’re here and ready to support you. Practice Emotional Intelligence One of the most impactful steps you can take on your toxic workplace recovery journey is to practice emotional intelligence (the ability to recognize, understand, and manage both your own emotions and the emotions of those around you). Toxic environments are often the result of emotional disconnection, poor communication, unnecessary competition, and a culture that avoids constructive feedback. Begin by shifting your perspective: respond with empathy, ask thoughtful questions, and use “I” statements. These habits model two traits, emotional regulation and empathy, that influence how your team interacts and solves problems. Start small. For example, set a personal goal to give one piece of sincere praise or recognition per day. This is a S.M.A.R.T. goal, and it starts to reinforce positive emotional exchanges. Over time, this contributes to a psychologically safe environment where people feel seen and supported. Foster Open Communication Once emotional intelligence begins to take root, toxic workplace recovery is just around the corner. Open communication becomes more natural because when team members are aware of their own and others’ emotions, communication becomes seamless. The number one rule? Listen. Really listen. Without listening, communication is incomplete. Try implementing monthly influence partnerships—team pairings that rotate so members can get to know each other beyond surface-level roles. This creates connection and, when done with consistency (Timely), fosters trust across your team. Another way to build open communication is by creating a structured feedback loop. Clarify how and when feedback should be given—perhaps during weekly one-on-ones or monthly review meetings—and make sure all team members understand the difference between criticism and constructive feedback. S.M.A.R.T. feedback is Specific and Relevant, and when delivered with respect, it encourages team members to grow without fear. Lead by Example As we say throughout the I in Team series, everyone is a leader regardless of title. Whether you’re in the C-suite or just starting your first job, how you show up directly shapes the culture of your team. To begin, set some respectful boundaries rooted in your values. Let others know what you need to succeed and what behaviors support or disrupt your work. When disagreements arise, demonstrate what respectful disagreement looks like—calm, focused on solutions, and free from personal attacks. If your workplace has leaned into competition, shift the focus to collaboration. Collaborate on micro-goals, like shared tasks or cross-functional projects. Make the results Measurable and celebrate wins together (publicly, if possible). Consider S.M.A.R.T.-based team-building events (like problem-solving challenges or goal-setting workshops) to reinforce collaboration in a meaningful way. Final Thoughts Toxic workplace recovery starts with you. Every interaction, every word, every moment of listening is a chance to model what’s possible. Show up the way you want others to show up. If your team is struggling to rebuild or you need expert guidance, reach out . We’re here to help. Let’s keep influencing responsibly and positively together.