Large companies around the world are finalizing their business strategies and implementation plans for the next fiscal year. Are you? The best way to grow your business is to think and act like a much larger business. If you think and act the same way you did last year, you might get the same results…that … Continue reading The SME Business Wealth Builder M5 Growth Strategy Model
Blog
Thanksgiving
In Canada, we celebrate Thanksgiving a little earlier than our American friends but we do it much the same, with family, food, and football. But there is one other thing, we Canadians also do yardwork! Last week, I was attending Alan Weiss’s “Thought Leadership” conference in West Palm Beach, Florida, when Hurricane Matthew approached the … Continue reading Thanksgiving
Good Governance for Private Companies
Every president or owner of a private company knows that it can be very lonely at the top. Setting up a formal board of directors or an advisory board can not only reduce the loneliness but also significantly improve your company performance and valuation through good governance. Companies of any size can benefit greatly from … Continue reading Good Governance for Private Companies
Management Discussion and Analysis — Or, “What were they thinking?”
If you want to know what the executives of any public company were (and are) thinking, read the Management Discussion and Analysis section of their quarterly (10-Q) or annual (10-K) reports. Last week, we discussed financial reporting and forecasting as performed by public companies and how it could benefit your company. Today, I want to … Continue reading Management Discussion and Analysis — Or, “What were they thinking?”
The Quarterly Discipline of Public Companies
Can you imagine what would your life be like if your business was a publicly traded company, and you had to issue formal earnings reports and business updates every quarter? How would you manage your company differently if all of your decisions and results were analyzed by shareholders, regulators, and others every quarter? I think … Continue reading The Quarterly Discipline of Public Companies
Back To School
It’s back to school time in our house. Anastasia is starting her first year of nursing at the University of Regina. Julia is starting her final year of high school and completing grade twelve. It’s exciting when their educational milestones are so clear. How clear are your milestones for developing and educating your employees? One … Continue reading Back To School
The SME Business Wealth Builder Daily Flash Report
Do you know how your business performed yesterday, what’s on for today, and what is expected to happen tomorrow? The SME Business Wealth Builder Daily Flash Report can help you to get more control over your business so that you can increase revenues, profit, and valuation. You’ve got to know your numbers: sales, production, and … Continue reading The SME Business Wealth Builder Daily Flash Report
Resources
Businesses don’t do business with other businesses. People do business with other people. Your people need processes and information so they can perform at their best, provide proactive value to your customers, and generate positive results in your business. Your resources include your people, processes, and information. When someone gives me their accountant prepared financial … Continue reading Resources
It’s All About Management
If real estate is about “location, location, location,” then business is about “management, management, management.” Management is about building trust with people by sharing information, keeping people focused on the vision and purpose of the business, and holding people accountable for performance to achieve your vision. My first management mentor was my Uncle Peter who, … Continue reading It’s All About Management
What Is Your Strategy?
If I asked your employees what your business strategy is, what would they tell me? What would they tell you? Well, you can ask them, and then tell me what they say. (I’ll post your responses here, anonymously of course.) Last week, I concluded with this advice: The three most powerful drivers for any business … Continue reading What Is Your Strategy?
