Earlier this week, I gave a presentation on pricing to Women Entrepreneurs of Saskatchewan, or WESK. Here are the Four Ps of Pricing. Psychology Now, what does psychology have to do with pricing? I’m glad you asked. Our pricing is based on our belief in the value of our products and services. That belief depends … Continue reading The Four Ps of Pricing, and Why Psychology Matters
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14 Reasons Why High-Growth Mid-Market Companies Need A Strategic CFO
Based on almost three decades of consulting and speaking with hundreds of business owners and lots of bankers, the most common weakness in high-growth companies isn’t a lack of customers, capacity, or courage. It’s a lack of sophisticated financial management. This results in lousy data, impossible analysis, dire decisions, ineffective allocation of capital, and rotten … Continue reading 14 Reasons Why High-Growth Mid-Market Companies Need A Strategic CFO
How to Manage Cash Flow in a High Growth Company
Astronaut Richard Hadfield, former commander of the International Space Station, talked about a rocket’s launch velocity during his MasterClass presentation. He said that there is an optimal launch velocity to get the rocket into orbit. Going too fast is not good because it creates more friction that you need to overcome by burning more fuel. … Continue reading How to Manage Cash Flow in a High Growth Company
Building Your Business Wealth Today And In The Next Year
2019 is fast approaching. Is your business ready for 2019? Do you have a…(wait for it…four letter word coming)…PLAN? When I first started consulting in the early 1990s, I used to prepare thorough and lengthy 30 + page business plans. The bankers loved them because it gave them all of the information they needed for … Continue reading Building Your Business Wealth Today And In The Next Year
The Three Levels of CEO Executive Function
On a recent coaching call with a European client who works with Fortune 500 CEOs and executive teams, we were discussing how the best executives manage their time, energy, and resources to generate results. From my perspective, there are three levels of how executives function that drives where they spend their time. The structure is … Continue reading The Three Levels of CEO Executive Function
Three Keys to Using the Strategy WheelSM to Grow your Mid-Market Company
Last week, I introduced the Strategy WheelSM. This special issue is a little longer in length because I want to present the ideas and framework all at once so you can start using it right away. As you know, speed is important in business! What Is Strategy and Why Does It Take So Long? I … Continue reading Three Keys to Using the Strategy WheelSM to Grow your Mid-Market Company
Making the Grade in Business Growth with the Strategy WheelSM
Last week, we discussed going Back to School and how it was clear to everyone that you were promoted to a higher grade or year in college. This week, I want to discuss how to assess which grade you’re currently in, and how to get to the next grade using my new process called the … Continue reading Making the Grade in Business Growth with the Strategy WheelSM
Back to School Lessons for Mid-Market Business Growth
As the sun sets on summer, it’s time to go back to school. Regina Beach at sunset. Photo © Phil Symchych. The annual rite of going back to school had a clear sign of progress: you were going into a higher grade. However, it’s not that clear in business. As we return from summer holidays … Continue reading Back to School Lessons for Mid-Market Business Growth
The Four Pillars of Business Wealth for Privately-Held Companies
When my family and aunt and uncle acquired a small 22 room seasonal hotel in 1979 when interest rates were 23%, they weren’t focused on building their business wealth. They were aiming much lower and wanted a small business at the lake where the families could gather and hopefully the business would make a little … Continue reading The Four Pillars of Business Wealth for Privately-Held Companies
What’s Your “Total Days to Exit” Number?
What is your “Total Days to Exit” number? In other words, when do you plan to exit your business so that your business valuation and personal wealth are maximized and you’re still healthy enough to enjoy your life and family? Just as the sun sets every day, all business owners must consider their optimal sunset … Continue reading What’s Your “Total Days to Exit” Number?
