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Archive for the ‘Recession Remedies’ CategoryExample: CEO Monthly LetterMonday, October 10th, 2011We get asked fairly often for an example of the “CEO Monthly Letter” so here it is: Just try to always include in your letter the GOAL, How we’re Doing against the Goal, and some Cheerleading (often signaled by an ! exclamation point). You can also add a bit about how you as CEO see things right now (be truthful in tough times and also always try to be positive, add the “silver lining” to your close). As always, hope this helps you! Very best, Kraig
Tools for Upping PriceSunday, October 2nd, 2011Cost-inflation is alive and well, with the CPI growing over the past six months by 5-1/2% and other costs (prices) skyrocketing — for example, steel, aluminum, energy, food (wheat, corn, and other grains which also drive meat-feed-prices). Here are some thought-starters for increasing price…many are good ways, many are not nice ways, but they all are prevalent today. Just click on the PDF below Develop your “price strategy” now because your costs are and will be rising rapidly (wage rates will go up because of food and energy). Be ready to implement your pricing, with adjustment, as the cost-pressure starts to rise on your business. Hope this is helpful to you! Very best, Kraig
Sep 2011 Twelve Seasons: “Where to get help?”Monday, September 12th, 2011Our “12 Seasons” for September 2011 answers the simple qquestion: “Where can I get help for MY business right now and during the next few troubled years?” Here is a sampling of my favorite resources for improving business, particularly during difficult times: Economic Prospects – Brian & Alan Beaulieu 603-796-2500 www.itreconomics.com As always, these thoughts are meant to improve your business…and…feedback is always welcome! Very best wishes, Kraig ————- PS – We’ve added some other resources suggested by our followers: Leadership / Management (CDN) Mike Craig 416-452-4987 www.ceoglobalnetwork.com
Aug 12 Seasons: Top Tools & TipsFriday, August 5th, 2011August “12 Seasons” aims at the Top Tools & Tips of the past year, the business tools that work best in these times. As background, we continue to experience a very slow (if any) recession recovery, which some of us have labeled “regression.” Clearly, the first-and-foremost tool is one that watches and forecasts CASH for your business; the tool is the Cash Manager at www.ceotools.com. Just print out the free PDF under New Tools Catalog at our website and design your own or download the Excel version. Also, take a look at Abe WalkingBear Sanchez’ unique tools for optimizing credit-and-collections to aid your cashflow ( www.armg-usa.com ). Next big tool is “What Causes Sales” available in the same place; this one helps your business grow your top line (revenue). Third tool is the “Measure-Up Dashboard” for tracking and managing the many success factors in business. If nothing else, just start a dashboard with two or three T12M charts…you’ll be absolutely amazed at what you’ll discover about your own business. Remeber to ask three questions about your T12M charts: what are the charts telling me? why is this happening? what could/should we do about it? And, last but not least, how about joining a Vistage/TEC CEO or similar group, staying in one and talking more about volume and cash, and/or suggesting direct reports join a Vistage KEY group to enhance their management and leadership skills and speed? Again, hope these thoughts are helpful. With best regards, Kraig
JULY 12 Seasons: Economic Redux?Monday, July 4th, 2011July’s “12 Seasons” takes a look at where we are in the economic recovery, and what we might do in anticipation of the future! Redux, of course, means resurgent…we really can’t tell if the economy is resurging much, mainly due to the spending-cut-tax-increase deliberations being conducted in the Capitol at present. Only time (probably a few weeks or months) will tell. Right now, we have perhaps the most uncertain economy ever. Those of you who follow these things or those receiving my regular messages see why! Too many bits and pieces not nailed down and no Governmentally-guided economic direction. Once again, caution is the right reaction. This means conserve cash, limit and leverage lending (try to increase your LoC headroom), and continue to grow sales, revenue, volume, orders, or whatever you call your top line. Clearly this means addressing and accelerating “What Causes Sales” and using a Cash Manager Tool and focusing on financing. Tools and ideas in these areas can be found at www.CEOTOOLS.com and click New Tools Catalog, then scan down through the tools. PDFs are free. Among the trends now: Inflation in most commodities is upon us big-time, and is often obfuscated by suppliers hiding price increases in fees, surcharges, add-on billings, etc. All prices are either rising or starting to rise in response. So, start now to address your Pricing Strategy and manage inventories much tighter with great attention to the inflating items in inventory. Some pricing ideas (not all endorsed by me) are included below, and you can get help on inventory management from Henry Camp, CEO at Idea, LLC (supply chain experts) — their website is www.IDEALLC.com and I do endorse them! Hope this helps your business, especially in assessing upcoming changes in our economic recovery and our business responses! Very best wishes, Kraig SOME STRATEGIC PRICING APPROACHES: To the extent you don’t quite get some of these pricing directions, your direct reports and those around you can help with thoughts and ideas! Feel free to email Kraig at info@CEOTOOLS.com if you need help. Copyright © 2011 Corporate Partners Inc.
Wall Street Journal: Great Recovery Think-pieceMonday, October 25th, 2010The Wall Street Journal recently published a nifty article entitled “Tough Times Call for New Plans” — check it out for some good ideas on looking at your plans for the next few tough years. WSJ Great Article \”Tough Times Call for New Plans\” With best wishes, Kraig
Great Article: Tatum on Responsible GrowthMonday, October 18th, 2010Take a look at this terrific article from Tatum on undertaking and investing in growth in this difficult economy…it’s hard to get capital, harder to risk it in investments that might not pay off for a while, just plain hard. Click up this PDF to view some great approaches suggested in Tatum on Responsible Growth.
“12 Seasons” Oct 2010 – Manage MetricsSunday, October 10th, 2010Twelve Seasons for October: Let’s “track” key metrics for immensely greater success…it’s what gets measured, AND MANAGED, that gets done! In most cases, T12M and 12mma charts are the tools to use (that’s trailing 12-month and 12-month-moving-average). Here’s how to do it: simply start watching, AND TAKING ACTION, to improve a few very-revealing key indicators, like debt:equity ratio (the #1 bankruptcy predictor), new order activity (e.g. continuously increasing number of leads), productivity (improving output per dollar-intensive resource), and true cash in hand (that’s real money, not credit line availability). Add a few leading economic indicators: employment (U6 from the US Bureau of Labor Statistics, and unemployment % and trends over time in your geographic markets), plus some measure of your market share. See the dashboards in the New Tools Catalog at www.ceotools.com for ideas. As always, we hope this contributes to your success! Very best wishes for managing metrics, Kraig
What if my market is dead?Sunday, September 5th, 2010September’s ”Twelve Seasons” asks the question: what if your market is dead, just isn’t there? Well, it is very hard to take market share away from others, but let’s do that first, and let’s also go another route by broadening your market definition. How to gain market share? Clearly not easy, but this always boils down to making more calls on competitors’ larger accounts, finding out specifically why they buy from them and then finding out what else they want and providing both of those things. Every business is different here, but re-read those words and point your selling mechanism at that concept. Of course, your “selling mechanism” might be salespeople but more probably is the “what causes sales” we’ve talked about so many times (see www.ceotools.com, click on New Tools Catalog, and scroll down to last tool). How to broaden your market definition? An example is: instead of limiting your construction to building homes, remodel them, get into commercial, pursue office building remodels, etc. If you are a remodeler, what about showing folks how to become Do-It-Yourselfers (but do charge for certain aspects of doing that), providing them with special tools, techniques, even designs or just the parts they don’t want to or can’t do (e.g., tile work). The thought here is to broaden our thinking! With best wishes, Kraig
Overcome “but my job isn’t cash”Sunday, August 1st, 2010My great mentor, Red Scott, smartly observed that “cash ain’t cash unless it’s cash!” Lenders these days promise to lend, and then don’t…others send checks that bounce, they offer assurances of payment…then delay, and so on. To bolster your cash, simply talk to your people frequently about how their actions and activities affect cash. Do let them know we’re okay, but we need to focus on cash due to the long-delayed recovery. Get them to forecast where they’re going, and how it impacts cash. By simply creating cash awareness, your cash will improve! See the “Forecaster” and “Cash Manager” tools under New Tools Catalog for more ideas. May your cash really be cash! Kraig
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