Financial Tips

Are your sales people focusing on sales or profits?

Neville on his motorcycle

When a sales person thinks about the success of their sales efforts they are usually fixated on the top line dollar value often losing sight of the costs and other related (hidden) resources needed to support sales. Needless to say, this can be extremely dangerous. I have been riding motorcycles for more than 40 years and am always learning new tips about safety. (Am I giving my age away?)  OK….so I’m just 50  plus tax! The Target Fixation Trap I recently rode my

How To Plan For And Measure The Financial Success Of Corporate Training

MEASURING THE FINANCIAL SUCCESS OF YOUR TRAINING

Will Your New Fiscal Year Planning Seal The Financial Leaks? Measuring The Financial Success Of Your Training As corporations step in to planning their training, often there is a major oversight that happens. Their training plan is not built to effectively impact the profitability of the company. There may be an intention or assumption that the training would be valuable and good for the company. Sometimes that works out. But it’s better to plan for your training to have a measurable

The Biggest Secret To Improving Shareholder Value

Does your company keep its promises? Are you sure?

Does your company keep its promises? Are you sure? While speaking to a group of business leaders about creative ways to improve shareholder value, I had an exciting and humorous experience. Amongst the various topics that I addressed during my presentation, including the impact of discounting and how much volume needs to be sold to offset the loss of profit.  (I had them work through the calculation, and most were shocked to learn the result). When I addressed the topic of cash flow,

How riding a motorcycle helps to be prepared for business success

How riding a motorcycle helps to be prepared for business success

BE PREPARED! During the summer I treated myself to a new Can Am Spyder tourer. Besides being a very cool machine to ride, it has also extended my motorcycle riding season by a couple of months because I don’t have to face the danger of being on a 2 wheel bike on slick icy roads. At the end of October, I rode with a group of friends down to the mountainous terrain of Pennsylvania which we love to ride, only to find

The Secret To Beating Your Competitors when They’re Bigger Than You

The Secret To Beating Your Competitors when They’re Bigger Than You

I was recently in Australia, visiting my son and grandkids. One of my favorite activities is playing chess with my grandson. Since seeing him just 8 weeks ago, my son has taught him some crazy smart chess moves which caught me by surprise. Here’s what happened. The moment I stepped into the doorway he yelled “grandpa” let’s play chess. I hadn’t even had a chance to shower after 20 grueling hours in the air, when I thought “oh well, this

Why Businesses Fail Financially Even When Increasing Sales With Decreasing Costs

Do you ever hear of people telling you about their success stories expecting high fives? Well, here’s a tip to burst their bubble. Try using the term SO WHAT! My sales increased while balancing my budget. SO WHAT about the margin you made on your orders? SO WHAT about how much it cost in overtime to achieve this? SO WHAT about the availability of resources needed to support the additional sales? My message to you is this:  Don’t examine numbers in isolation. A project can be

Getting more cash out of your business without borrowing money

Entrepreneurs are of the opinion that they have lots of of problems causing them to lie awake at night thinking about their lack of cashflow, not spending enough time with the family because they work crazy long hours, feeling resentful having to work so hard for so little ….and the list goes on. Over the past 40 years in business, 20 of which have been in the capacity as an author, entrepreneur and business educator, I have discovered that entrepreneurs don’t always have