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Posts Tagged ‘recession tools’
Friday, August 5th, 2011
August “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
Tags: management tools, more sales, recession tools
Posted in "How to" Use Business Tools & Software, Cash and Credit, Grow Business Profitably, Recession Remedies | Comments Welcome »
Monday, July 4th, 2011
July’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:
Price ↑ Quantity ↓
Fees Quality ↓
Rates Knock-Offs
After Charges (hotels) Fillers
Change Orders Dilution
Taxation (some hidden) Octane
Devaluation % Butterfat
Matrix Pricing Flow Control (Delta)
Estimating Creep (Ptg) Add-Ons
Good. Better, Best Hidden/Unlisted
Late Charges Recovery Charges
Last Look Best Look
Sur-charges Dynamic Pricing
Trade for Payment Substitution
Wording (early-board-fee) Mix (corn!))
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.
Tags: management tools, recession tools
Posted in "How to" Use Business Tools & Software, Cash and Credit, Grow Business Profitably, Recession Remedies | Comments Welcome »
Monday, November 1st, 2010
For November, 12 Seasons focuses on “where to go for help for advancing your business?”
So, where do we go for help when it’s just not working? How about trying local “consultants” associated with your State colleges, such as the Small Business Development Centers (SBDC) — every State has them and they’re smart and almost free! Also, ask Kraig for ideas. Don’t be too proud to ask your friends and Vistage/TEC/Peer group or their chairperson for help; or you could join a Vistage/TEC or other peer group. Take a look at the various tracking tools at www.ceotools.com for ideas that should help. Finally, smaller banks are indeed lending, and unbelievably large banks are very cautiously financing small amounts to solid situations starting just now because their outlook for the next five years or so portends lower earnings due to loss of most mortgage lending and the new credit card constraints.
You might have to dig and ask around some, but be heartened, help is out there! We hope that the ideas presented here are helpful to you!
With best helpful wishes,
Kraig Kramers
President & CEO — CEO Tools, Inc.
Tags: management tools, recession tools
Posted in "How to" Use Business Tools & Software, Cash and Credit, Grow Business Profitably | Comments Welcome »
Sunday, October 10th, 2010
Twelve 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
Tags: more sales, recession tools, software
Posted in "How to" Use Business Tools & Software, Grow Business Profitably, Recession Remedies | Comments Welcome »
Sunday, September 5th, 2010
September’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!
Focus on just those two areas, and we’re pretty sure you’ll see that your market is there, just differently accessible.
With best wishes, Kraig
Tags: management tools, more sales, recession tools
Posted in "How to" Use Business Tools & Software, Grow Business Profitably, Recession Remedies | Comments Welcome »
Sunday, August 1st, 2010
My 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
Tags: management tools, recession tools, software
Posted in "How to" Use Business Tools & Software, Cash and Credit, Recession Remedies | Comments Welcome »
Friday, July 16th, 2010
Get and keep customers through this protracted economic recovery – so, which customers do we bet on, which will survive and which won’t? First, keep good credit records on your customers…get financial statements from smaller companies, get them from Dun & Bradstreet and credit raters for larger clients. Know which will go chapter. Tighten up credit methodologies — see our blog on Abe WalkingBear Sanchez for great ideas. Next get more customers by asking for the order sooner, offering customers price-payment trades, giving more attention than competitors (including after-hours & weekends ways of reaching you). See our BLOG posting on Top 10 Customer Tools for tips. Best customer wishes, Kraig
Tags: management tools, more sales, recession tools
Posted in "How to" Use Business Tools & Software, Grow Business Profitably, Recession Remedies | Comments Welcome »
Tuesday, June 22nd, 2010
June’s “12 Seasons” is all about a new, fresh look at what’s going on in our business world and what our responses probably ought to be.
How, at mid-year, to improve cash, credit, clients? Well, how about a brand new focus on those three areas: commission three tiger-teams in your company (or your peer or presidents group) to brainstorm, research the internet, and concoct unusual or maybe untried responses.
Here are some ideas: 1-replace your prompt-pay discount with a prompt-pay rebate, payable the following month (thanks to Abe WalkingBear Sanchez for this idea); 2-ask for cash deposits on orders; 3-teach your customers inventory earn-&-turn and DSO-tracking to improve their cash-flow, and they’ll likely return the favor of prompter pay to you; 4-lease items instead of buying; 5-outsource just about everything.
We’ll continue to publish tips like these at , so please visit our weblog and other great blogs regularly for ideas. We’re just now publishing the updated “Top 10 Tools for Financing Businesses” which might be helpful to you.
Once again, helping each other through this recession/recovery is our goal!
With best regards, Kraig Kramers
Tags: management tools, more sales, recession tools
Posted in Recession Remedies | Comments Welcome »
Wednesday, April 21st, 2010
Why not…introduce new products and services to get more volume? Many smart companies are betting on this now. An example might be to extend your offering beyond selling them software to installing, customizing, or integrating the software; while this has been done in that industry, could you apply it to your industry? What if you researched wht others are doing in other countries, other markets, other industries like yours just to get some ideas? You might just get a great, new idea. — Please leave your comment below to add to these thoughts!
Tags: management tools, more sales, recession tools, software
Posted in Recession Remedies | Comments Welcome »
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