What’s your plan for next year? Let’s get to the point. What will you accomplish in terms of products offered, customers and geographies served, and financial results? How fast can you grow? Will you run out of gas before you achieve top speed? Investors, bankers, and shareholders want to know what your business plan looks … Continue reading Planning for Next Year
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Lessons from a Tap Dance Competition
Our daughters Julia (top left) and Anastasia (top right) and their Team Canada West teammates performing their production “Silent Movie” which won them the bronze medal. I’m writing this newsletter from the Frankfurt airport. We watched our tap dancing daughters and their team mates from western and eastern Canada compete in the International Dance Organization’s … Continue reading Lessons from a Tap Dance Competition
Tell Your Story With Your Annual Report
If you don’t tell your own story, your stakeholders will make up their own version of what happened in your business. You can tell your own story by writing your annual report. The annual report describes what happened in the past year and what the plan is for the next year to shareholders, investors, analysts, … Continue reading Tell Your Story With Your Annual Report
The SME Business Wealth Builder M5 Growth Strategy Model Fifth Gear: Management
Over three decades ago, I worked in a large bank. One day I asked my manager, let’s call him Peter, a technical question. “Phil,” he said, “come with me.” We walked over to a long row of low filing cabinets that were covered end to end with huge binders. “Everything you need to know about … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model Fifth Gear: Management
SIX HOUR SUCCESSION(tm)
In North America, trillions of dollars of business wealth is tied up in operating companies owned by people who want to or need to retire in the next few years. Business owners are further constrained by the dual roles they have: owner and manager. Our “SIX HOUR SUCCESSION(tm)” process divides and conquers these dual roles … Continue reading SIX HOUR SUCCESSION(tm)
SIX HOUR BUSINESS ™
Speed is important in business. Connecting with your customers quickly and efficiently, before your competitors do, is critical to protecting and growing your revenue base. Continually developing and implementing new strategies can improve customer retention and attract new customers. To help you grow your business in real time, I’ve developed a unique and powerful offering … Continue reading SIX HOUR BUSINESS ™
The SME Business Wealth Builder M5 Growth Strategy Model Fourth Gear: Monetize
When I started a drywall company many years ago, we could issue an invoice in ten minutes…because we had to in order to survive and grow. Profits didn’t matter; that’s an accounting concept that only exists on paper. The only thing that mattered to our start up business was cash flow. And its metric was … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model Fourth Gear: Monetize
The SME Business Wealth Builder M5 Growth Strategy Model Third Gear: Methodology
When I worked for a global accounting and audit firm back in the 1990s, we followed detailed procedures and checklists. (Quick joke: Why did the accountant cross the road? Because that’s what they did in last year’s file.) These checklists ensured we followed proper standards, improved quality, and reduced risk to both the client and … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model Third Gear: Methodology
The SME Business Wealth Builder M5 Growth Strategy Model Second Gear: Marketing
When my family operated Clear Lake Lodge back in the 1980s before the internet and Trip Advisor®, we learned that our best marketing was referrals from satisfied guests. And, we changed the name from Siesta Hotel to Clear Lake Lodge so we appeared earlier in the yellow pages. Is your marketing stuck in the ‘80s? … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model Second Gear: Marketing
The SME Business Wealth Builder M5 Growth Strategy Model First Gear: Mindset and Strategy
How would you define the strategy of your business? What is your competitive advantage? How do you create a sustainable, differentiated business that can provide more value to your customers in a dynamic and constantly changing market? How do you attract and retain key talent and customers? How do you leverage technology? What are your … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model First Gear: Mindset and Strategy
