Did you know?
- Approximately 50% of businesses fail within five years
- Over 70% of businesses are owned by Baby Boomers who are nearing retirement and most will never find a buyer
- Over 80% of these Baby Boomer Businesses are not “transaction ready”.
- Only 4-5% of businesses listed are actually sold in any one quarter (BizBuySell.com).
- Over 70% of businesses sold fail to meet the expectations of the buyer.
We all are in business to make money unless you are a non-profit organization, but profit is not a manageable activity, it’s a “Result”.
Certain activities are directly linked to profitability like Sales and Expenses. Performing these activities more effectively leads to greater profit.
The accounting system is the historical “System of Record” that captures all physical transactions. Geared primarily around financial criteria, profit, cash flow, assets & liabilities. Measuring profits only is imperfect and influenced by many variables like inventory, sales cycles, timing issues and more. It is historical and therefore purely retrospective.
There is a better way, switching from past tense management to current and future-facing management. Here are the three Stages of Management:
- What happened (Accounting View – Financial KPI)
- What is happening (Real Time KPI)
- What’s going to happen (Future Facing Management – Leading KPI)
Weather forecasters are using radar to predict the short-term weather changes (we all knew when and where the hurricane would make landfall and could prepare in time). Leading KPI’s are like a Radar for your business. You can see the changes coming and prepare in time.
What leading indicators are critical in your business? Share your experience.
When the buck stops with you, people tend to share selectively. Here are some tips to avoid blind spots…
Exponential Business Growth
In this fun-filled, information-packed one day workshop you will walk away with an understanding of the key strategies that will keep YOUR business thriving in any economic environment. You will look at the critical factors impacting your business and you can realign with the right psychology and strategies to create a raving fan customer base. We will show how you can create a map to reach and exceed your goals in 2018.
What You’ll Learn:
Value Proposition Identification
How to clearly define who you are, what you do, and the value your product or service brings to your customer.
How to identify, simplify, and execute a strategic plan for exponential growth.
How to find the right people with the right skill set. Hiring and training your best assets from mail room to boardroom.Revolutionary Growth Method
How to position your company to support a revenue stream for sustainable long-term revolutionary company growth.
How to identify production efficiency to streamline productivity for cost reduction and profitability.
Laser-Focused Corporate Culture
How to create and identify the direction of your company’s mission in every corporate interaction.