Standing still is not an option
Here we are nine months into COVID-19 with its associated shutdowns and restrictions with no long-term solution in sight. For some of you, the situation has brought on adequate revenues or even enhanced revenues because of customers associated with companies that distribute essential products and services. For others, it is a major bump in the road that cannot be reversed until revenues return to 2019 levels, but from what I read that...
Factory Stores coming to the U.S.?
This is the month we’ve all been waiting for! Back in January, all of the economic signs pointed to a stellar year, with record-setting revenue and profitability growth charted and waiting. Then the train jumped the track. I haven’t spoken to a single dealer who has set any records this year. From the pandemic to murder hornets, to social unrest, to a contentious election process, the effect on our businesses has been substantial....
How to lead ineffective change
Dutch philosopher Alexander den Heijer said, “When a flower doesn’t bloom, you fix the environment in which it grows, not the flower.” Not surprisingly, many organizations try to fix the flower. This happens all the time with culture-change initiatives or even brand strategies, where the veneer is the focus of change and not the behaviors that underlie it. This fundamentally occurs because it’s easier, quicker, and feels more...
Recent developments and guidelines for PPP loans from the SBA
Over the course of the first half of October, the SBA has released three new guidelines addressing some of the most frequently asked questions regarding PPP loans. For those of you that are unaware, PPP (Paycheck Protection Program) loans were provided to small businesses as a response to the economic losses due to COVID-related shutdowns. PPP borrowers can qualify to have the loans forgiven if the proceeds are used to pay certain...
All in the Dysfunctional Family Generational Business fails and what to do about them
Anyone in a family business knows that according to many statistics, the chance of the business surviving declines with each handoff to the next generation. What causes the drop off? Among the myriad of reasons, times change, dedication levels vary, and talent isn’t always genetic. If you’re in the family business, do any of the following sound familiar? Granddaddy toiled day and night. He adored his work and never stopped with the...
Finding out “why” is easiest after you lose the sale
The sales dance. The prospect is as nervous about telling you NO as you are to find out if it’s YES. You often find yourself in a situation where you must convert a “no” atmosphere into a sale. The best time to do this is after the sale has been lost. This may seem a bit backwards, but consider these two facts: The prospect often won’t tell you the real reasons (objections) for saying “no” during the sales courtship. The prospect may...
CSR best practices
Last month we spoke about some of the non-productive behaviors that some CSR’s fall into when their role in the organization is not clearly defined, or enforced. I want to continue that discussion in this article, and also talk about what practices CSR’s should be investing in. CSR highest and best purpose Let me again start with clearly defining the goal. In my view this should be the CSR’s mission statement: “To establish and...
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