By David DeMuth Manufacturers can’t afford to wait any longer. For two years, CFOs and controllers have managed supply-chain disruptions and labor shortages, as well as surging prices. Typically, these developments could require most manufacturers to raise prices to survive. In Q4 of 2022, there is a looming recession. The generally accepted definition of a…
Do we have a recession now – or will we have a recession soon? It is not certain, but very likely to happen in the coming months. The R word is scary and it starts changes in economic behavior. Recessions are a normal part of the business cycle, painful but necessary. Let’s think about the…
In their book The Execution Premium, Harvard’s Norton and Kaplan stated that 80% of companies never achieve the full value of their strategy. That is a frightening statistic. In our experience, the greatest reason is that short term needs take precedence over long term strategic choices. So, what can leaders do differently to be among…
This is the fifth installment of our 2022 exciting, in-depth six-part “Lunch and Learn” series, where our Chapter’s professional advisers will discuss the exit planning strategies to be employed by a model middle market software development company with $50 million in annual revenues. In this fifth session we will explore Restructuring/Reorganizing our fictitious company Medi-Quick,…
The state of a company’s financials could make or break its future sale. Balance sheets that don’t balance. “Add-backs” that can’t be justified. Messy financials make for lower business valuation or deals that never happen. That’s why financial sharpening is such a critical part of exit planning. Join us Thursday, Sept 15 from 11am-1pm at…
Does your culture support executing your strategy? Get your team on the same page with this killer template: http://leanleadersinc-21416887.hs-sites.com/the-simplest-template-for-a-killer-strategy
Uncertainty…Has inflation peaked? Are we in a recession? Will the federal reserve increase rates? Will supply chain challenges be resolved? We have written often about the challenges business leaders face and the impact of uncertainty on strategy management. Two of our most recent articles on the subject were Strategic Thinking in Turbulent Times, May 2022…
Every CEO strives to be a strong leader and push their company forward, but when it comes to determining what the mindsets and characteristics of a successful CEO are, opinions vary. It’s hard to be all things all the time and many CEOs struggle to know where to spend their time, how to allocate resources, and…
Every business owner has a big dream for their company and wants to make it happen. But, when it comes to retiring one day and driving off into the sunset, most business owners don’t know where to start or what to do. They’ve been so busy working in the business, they haven’t stopped to take the time to…
A recent report says that businesses who utilize a mentor(s) have a 70% greater chance of surviving beyond 5 years than those who don’t. This seems intuitive, yet why do so many entrepreneurial owners not employ this strategy? All of us when we started in business didn’t know what we didn’t know but today it…
Make Strategy Happen – Albu Strategy Management (albu-strategymanagement.com) Watching the 150th Open Championship at St. Andrews’ Old Course this year was exciting, particularly watching how players were tested on a very challenging golf course. Each player had his strategy going into the tournament, but to win they needed to execute. To win, they needed remained…
Coming up on mid-year, you might be reflecting on the first half and are either looking to course correct or finish strong. What are you going to start doing, stop doing, and keep doing? One of the ways to determine this is to look at the key metrics of your business and see if you’re on…
Wrapping up our series on your most googled financial questions, we saved a big one for last: taxes. A word that strikes fear in the hearts and minds of many business owners. But, it doesn’t have to. Every business owner has a big dream for their business and wants to make it happen. However, many business…
By Rob Milrod Traditional banks must actively plan for change as the digital divide grows.The marketplace has evolved, and traditional, legacy-driven banks need to follow suit by upgrading technology through partnerships. One in 10 banks are in the process of developing a banking-as-a-service (BaaS) strategy and another 20% are considering one. Why? Embedded finance, which…
Date: May 6, 2022 From: 12 p.m. Eastern Daylight Savings Time End: 1 p.m. Eastern Daylight Savings Time Platform: Zoom Questions: Chat Link for Zoom Ticket: Nova Lorraine author of “Unleash Your Supernova” Longevity is crucial for entrepreneurial success, and burnout is very real. Having a vision is the first step, but how do you follow it through to execution? How…
In our prior article, the details of the new test for determining who is an employee and who is an independent contractor was laid out click here. As of last week, that rule is effective. Now clients are asking how we got here and what comes next. Here are our thoughts. Effective March 11,…
Starting with the End in Mind – webinar for business owners and buyers May 16 at 1PM (EDT) If you have the following questions, this webinar is for you! How do I strategically think about my end game? In other words, how do I figure out what game I am playing? What makes a business…
The Red Sea disruption forcing ships to go around Africa creates a new Supply Chain reality. It can lead to late deliveries of inventory resulting in disruptions affecting business globally. One of the noticeable issues is the Reuters report, “Tesla, Volvo Car in Europe Pause Output of Certain Car’s models.” Besides the production disruptions, late…
THE CRITICAL QUESTION FOR BUSINESS OWNERS: DEFINING SUCCESS – WHY ARE YOU ON THIS ROAD? By Ladd Hirsch on April 15, 2024 “If you don’t know where you’re going, any road will take you there.” — From Alice’s conversation with Cheshire Cat from Lewis Carroll’s Alice in Wonderland For business owners intently focused on growing their…
It’s midnight. Your recycling bin is overflowing with rejected resumes. Your eyes can barely focus on the letters in front of you — and you have this uneasy feeling that you are about to invest in another candidate who just isn’t going to work out. This has been a vicious cycle over the past several…
“I should demote myself!” joked the head of sales. “It looks like I am better at selling than at managing a sales team.” We were looking at his team’s individual sales numbers. He was selling more when he was a regular salesperson than his whole team today. We too often promote the wrong person into…
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