Are You Looking In the Wrong End?

Are You Looking In the Wrong End?

Early in a business’ development, focus tends to be on the next month or next quarter. Initially, this isn’t such a terrible thing as early on, cash flow is critical.   

Cash-related challenges are the leading cause of early business failures. However, as a firm develops and matures, if it continues to focus on the near term, it can prolong the period when sales and cash flow are uneven.

Steps to Achieving a Positive Trading Relationship

Steps to Achieving a Positive Trading Relationship

“Either they get the money, or I keep the money.” This is true. If a buyer pays more for a product or service, the seller keeps the extra. If the buyer pays less, they pocket the difference. It’s that simple. Except that a good buyer/seller relationship can often be more valuable than the purchase price suggests. A book could be written on supplier relationships and has… several times. This is NOT that book, but we can unpack this a little.

How Logistics and Transportation are Impacting Businesses

How Logistics and Transportation are Impacting Businesses

Do you remember those public service announcements that used to run on late night TV; “It’s 11 O’clock, do you know where your children are?” Let me ask you; “It’s 11 O’clock, do you know where your customers are?” Do you know how they feel about the fundamentals of your relationship; value, price, ease of doing business and overall experience? Would they recommend you? These issues are the most powerful driver of growth. In fact, firms that get this right, grow at 3.8 times the pace of the average successful firm.

Measuring Customer Experience

Measuring Customer Experience

Do you remember those public service announcements that used to run on late night TV; “It’s 11 O’clock, do you know where your children are?” Let me ask you; “It’s 11 O’clock, do you know where your customers are?” Do you know how they feel about the fundamentals of your relationship; value, price, ease of doing business and overall experience? Would they recommend you? These issues are the most powerful driver of growth. In fact, firms that get this right, grow at 3.8 times the pace of the average successful firm.

How Key Performance Indicators Impact Your Business

How Key Performance Indicators Impact Your Business

If you are measuring too much it can be harmful to your health… or at least the health of your business. Here we are in January 2019. Quite probably at a moment of inflection in the business environment. Is your system of Key Performance Indicators (KPIs) helping you thrive during this turn, or is it an administrivial ball and chain? During a recent meeting with a client she said “I’m really not into all that book-of-the week crap. We need to focus on our KPIs and deliver on them. That’s all there is to it.” I agree with her. However, there is an important difference between flavor of the week and true organizational learning.

An Assault on Wealth

An Assault on Wealth

Is your wealth under attack… from you? I recently read an excerpt from The Perfect Square: A History of Rittenhouse Square by Nancy M. Heinzen. Rittenhouse Square was home to high concentration of very wealthy in the mid to late 19th century. It describes a shift in the relationship between the wealthy and their money.

Taking Stock

Taking Stock

It's time to get off the speeding train and take a moment to take stock.  We are fond of saying that “Traction is a good business book” AND that “Traction is NOT the last best business book that will be written.”  One of the things that Traction got right is the need for weekly, monthly and quarterly check points on progress toward strategic business goals.

Assessing and managing business performance

Assessing and managing business performance

Assessing and managing business performance has two dimensions to it.  The first is managing day to day performance.  This involves making performance visible and then discussing the difference between desired performance and actual performance.  The second dimension of performance management is related to managing the development and progress of initiatives.  This aspect combines traditional project management discipline with performance management.