From The Vault “Minimizing taxes prevents business growth and hurts building business wealth.” ~ Phil Symchych This article is the first in a short series on how to increase profit in your business. But first, there is one major problem we need to address. Hear ye, hear ye! The bankers have spoken. According … Continue reading Stop Minimizing Taxes In Your Business
“Unity trumps chaos.” ~ Anastasia Symchych We could not avoid a huge summer storm and had to fly right through it. Back in the days of when we traveled for business, I recall one short flight from New York to Cleveland, that was worse than any roller coaster ride I’ve been on. It’s a … Continue reading The Turbulence is Temporary
“The best performers don’t get down from their difficult situations; they learn from them and take action.” It seems we could all use a boost of mental toughness after the year we’ve just been through. As a kid, I played tennis, and recall being up five games to one (you need to win six … Continue reading Want a 16 second cure for 2020?
“Happy holidays and all the best in 2021!!” Time Magazine got it wrong…the person of the year isn’t a politician, it is each and every health care worker, doctor, nurse, care aide, support staff, scientist, researcher, lab technician, supply chain worker, and everyone involved in taking care of patients, protecting the vulnerable, and creating a … Continue reading Season’s Greetings and Gratitude
“The best way to achieve your priorities is to have fewer priorities. ”–Phil Symchych It’s the time of year when we review the past year and set priorities and make plans for the next year. During my planning calls with business leaders of privately-held companies and advisors who work with small/medium enterprises, we discuss and … Continue reading Setting Priorities with The Business Strategy Wheel℠
First of all, budgeting is not a mathematical exercise. It is not about adding 3% to last year’s numbers. The best CEOs I’ve worked with–yes, it’s the CEO and not just the CFO–analyze and set their budgets according to the business strategy. It’s strategy first, budget second. Now, the strategy needs to be measurable. Results … Continue reading How to create a business budget
A good board of directors will help you, as the leader, in several ways, including: Think more strategically and less tactically Leverage your strengths Compensate for your weaknesses Improve your analysis and decision making Think longer term than the next quarter or your to-do list Balance customer opportunities with resources and shareholder expectations Reduce your … Continue reading What can a good board of directors do for mid-market company CEOs?
“If you can’t measure your strategy, you won’t achieve your goals.” –Phil Symchych It’s the time of year when companies are updating their strategic plans and budgets for the next year. It’s also the time of year when, as a kid, we played hours and hours of street hockey. The key to street hockey was … Continue reading Use the Business Strategy Wheel™ to Create a Growth Strategy
Have you ever attended a meeting where other people droned on about their work status updates that had absolutely nothing to do with you or 90% of the other people in the meeting? That’s a major waste of time for everyone. Worse yet, it disengages your people and lowers your management credibility. I first posted … Continue reading How to Improve your Weekly Team Meetings
“Preventing employee burnout requires three things: giving your employees autonomy, creating variety in their work, and helping them to stay connected to other humans.”–Phil Symchych Your employees, especially those working from home while attempting to educate their young children during the day, are at risk of burnout. They have lots to do and not much … Continue reading Preventing Employee Burnout