If I asked you to open up your calendar and show me what you have planned for the week of January 4, 2016, what would I see? Some of you have been preparing for January 4th for months – the first business day of the New Year. In fact, when you look at your plans you can’t wait. You’re filled... read more
When I was a young boy, I played organized football. I was relatively smart, quick and athletic, but small—especially for football. I ended up playing in the defensive backfield as a safety—in a position where I wouldn’t be much of a factor in the game. At least that’s how I saw it. My job was to make sure nothing got... read more
Imagine that you spent a great deal of time planning the perfect vacation. You rented a beautiful house, the car is loaded, the kids are excited and everyone is eager to get on the road. You start the car and hit the gas. But as the car takes off, you realize you have no steering wheel. You’re going to end... read more
Now is the time to assess this past year and make plans for improved performance next year. Involve your staff and create a strategic plan that everyone can support. Here are 5 steps towards improved profits. 1. Assess your financials. Compare your numbers to last year, and of course, to your budget. But don’t stop there! Assess each of your... read more
We talk a lot about strategic plans, but rarely about strategy. A successful strategy increases enterprise value. Enterprise value is the financial worth of your business. It is calculated by multiplying earnings before interest, taxes, depreciation and amortization (EBITDA) by an EBITDA multiple. Therefore, your strategy must address a simple mathematical truth: Increase both EBITDA and the multiple. So far,... read more
