Strategic Planning Archives

Bill Prenatt – Strategy to Get Out Front

November 28, 2018/in Bill Prenatt, Blog (Free Content), Experts, Productivity, Run, Strategic Planning /by Paul Cook

In his presentation, e4e partner Bill Prenatt gives the audience advice on how to stop "keeping up" and instead to get out ahead.

Cybercrime: Preventing a Victim Mindset

June 7, 2018/in Academy (Paid Membership), Jared Peno, Run, Strategic Planning /by Alex Wood

In this presentation called "Cybercrime: Preventing a Victim Mindset," e4e partner Jared Peno explains how to be proactive about protecting personal and business information from cyber criminals. He describes common types if internet fraud, how cyber criminals obtain your information and questions you need to ask yourself when trying to protect your information.

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Unique, Memorable, Referred

March 6, 2018/in Blog (Free Content), Run, Strategic Planning, Thad James /by Alex Wood

In this presentation called "Unique, Memorable, Referred," e4e partner Thad James explains how to stand out from your competition and generate more referals.

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Leveraging LinkedIn

January 25, 2018/in Academy (Paid Membership), Run, Strategic Planning /by Alex Wood

In this presentation called "Leveraging LinkedIn," e4e partner Josh Levey explains how you can use your LinkedIn connections to produce quality leads for your business. He takes the audience through a simple three-step marketing campaign, explains the different statistics to pay attention to and gives examples of the types of copy that have proven most successful.

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When Do You Cut the Cord, and Let That Prospect Go?

October 25, 2017/in Academy (Paid Membership), Business Process Improvement, John Eyres, Run, Strategic Planning, Telecommunications Technology /by Alex Wood

In this presentation called "When Do You Cut the Cord, and Let That Prospect Go?," e4e partner John Eyres discusses the results of a survey answering that exact question. He offers different strategies for following up with prospects and explains how they might work differently in different industries. At the end of the presentation, John opens the floor for questions and advice from the audience.

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The Care and Feeding of Your LLC

July 20, 2017/in Academy (Paid Membership), Andy Magnus, Brian Rogers, Insurance, Legal, Run, Strategic Planning /by Alex Wood

In this presentation called "The Care and Feeding of Your LLC," e4e partners Brian Rogers and Andy Magnus explain how creating a limited liability company (LLC) helps protect your business and personal assets. They discuss how a business owner transfers their current business into an LLC, common mistakes made when operating an LLC and some of the legal formalities that need to be considered.

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The Power of Strategic Alliances

May 24, 2017/in Academy (Paid Membership), Business Process Improvement, Dream Teams, Lisa Oxenhandler, Operations, Run, Strategic Planning /by Alex Wood

In this presentation called "The Power of Strategic Alliances," e4e partner Lisa Oxenhandler heads a discussion that offers advice on finding the best strategic business partners. Understanding core criteria for prospective partners, properly communicating with partners and finding partners who align with your business's values are all topics that are covered.

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Navigating the Changing Landscape of Social Media

April 21, 2017/in Academy (Paid Membership), Karen Fox, Run, Strategic Planning, Uncategorized /by Alex Wood

In this presentation called "Navigating the Changing Landscape of Social Media," Karen Fox discusses the value of social media for businesses in connecting with clients and customers. She explains the importance of developing a media strategy, the changing trends in social media and the advantages of different social platforms.

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Stand Out In the Media Blizzard

October 21, 2016/in Blog (Free Content), Branding & Pricing, Grow, Karen Fox, Marketing - PR, Run, Selling, Strategic Planning /by Judy Ryan

We are inundated with social media. If you want to get noticed,

you must impress your market with targeted, meaningful messages.

Social media expert Karen Fox shares a compelling opening story by helping the audience members see the importance of recognizing your target market and their unique characteristics and how you can reach them effectively. She offers the following important tips:

Take time to know your buyers – their age, challenges, code language, and needs, where they are located, etc.
Keep your content current and fresh
Ensure your prospects can subscribe to your site and services
Use short videos to reach your market
Don’t assume everyone is your target market; rather speak to the 20% is good
Images matter to your marketing efforts and are are the primary influence for your products or services
Follow-up with sound and proven processes
Listen and pay attention to who is responding and writing so you are engaging with them
Do not allow your postings to become a source of conflict or debate
Make sure you are focused on the customer needs not your own
Track and test what works through review of your analytics and let them inform your next decisions
Create repeatable, sustainable processes
Get the support you need
Get your branding out on a regular basis so that when I need your services, I remember you as top-of-mind

Social media is no longer an option for businesses because it plays a major role in shaping the business reputation and perceptions about credibility. If you don’t think you have time to implement a social media strategy, outsource this very important business strategy to Karen Fox at Karen@karentheconnector.com or check out her website www.karentheconnector.com

Marketing Mistakes Owners Make That Torpedo Their Efforts

September 21, 2016/in Academy (Paid Membership), Adam Kreitman, Business Process Improvement, Grow, Marketing - PR, Run, Strategic Planning /by Judy Ryan

Successful marketing requires addressing top priorities first

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How to Launch Your Business

August 24, 2016/in Academy (Paid Membership), Brian Lunt, Business Process Improvement, Change Management, Finance, Human Resources, Legal, Operations, Run, Strategic Planning /by Judy Ryan

Putting together a new business doesn't require reinventing the wheel. Don't fly alone. Together you will soar higher, faster.

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During a recent episode of Shark Tank, all of the sharks told a budding entrepreneur that his idea wouldn’t work. The sharks went on to explain why the idea wasn’t viable.

Reasons to listen
There are a number of reasons why this entrepreneur should listen to the sharks.

They’re incredibly successful business people.
They have experience in a lot of different industries with a lot of different markets.
They don’t hide their mistakes; indeed, they readily admit their failures hoping to help others avoid making the same mistakes.
Their mission is to promote innovation and entrepreneurship, not quash them.

I have to admit I shared the shark’s opinion of the idea, although I‘ve been wrong before. This raises some interesting questions “When do you listen to naysayers? When do you ignore their advice? Is this an either/or decision?”

Not either/or
One of the things I’ve learned over the years is that just because someone says “It can’t be done” doesn’t mean I should abandon the idea.

A few years back I pitched a book idea to my literary agent. She responded saying “You’re not known for that topic so it’ll be a nearly impossible sale.” And she was right. One of the things publishers want to see are credentials that lend credibility to the book’s message. I didn’t possess those credentials. I set the idea aside and didn’t do anything with it for over a year.

During that year my mind was continuously drawn back to that topic through conversations with friends, through questions I got from people who were suffering a crisis of confidence or some personal pain. Eventually it became obvious to me I needed to write this book and I did. The title is “Lead a Life of CONFIDENCE...Free yourself of fear, anxiety and frustration.”

While it hasn’t yet (note the yet) become a best seller, it has laid the foundation for me to become known for this topic. Indeed, within the past few weeks a whole new market has opened for me to promote the book, and more importantly, the message.

A follow-on book will be released this month, “Stand Out From The Crowd...Without having people point and laugh,” and I’ve just completed the outline for the third book in the series. I’ve decided to self-publish all three as a way to build the credibility that may or may not lead to a future book deal with a major publishing house.

My point in sharing this story with you is that when you’re told “it won’t work” by naysayers, listen to what they have to say, then figure out a way to overcome the obstacles they see.

When to listen
It pays to listen to people with more experience than we have. It’s counterintuitive, but it doesn’t mean we have to abandon our idea.

Typically when experienced people say “That won’t work” what they mean is that it won’t work as you outlined it. It’s your job to ask “Why won’t it work and how do I overcome the obstacles you’re seeing?” Let them help you find solutions, they have more experience than you do. But don’t give up on the dream. You may have to make major adjustments to make the idea work, but if you want that dream badly enough, you will make it work - simply not in the form you originally envisioned.

When not to listen
Don’t listen to people who have little or no experience in what you’re trying to accomplish. Many of them become naysayers simply because they can’t dream as big as you are dreaming. I learned this lesson from having seen an interview of the Williams sisters.

They said that when they told their friends their dreams of being tennis champions, they were told they couldn’t do it. The sisters said that at some point you have to leave old friends behind because they aren’t dreaming as big as you are. They went on to say you have to develop friendships with people who believe in you and encourage you during the inevitable dark hours that accompany the pursuit of any significant dream.

My mastermind group encouraged me to go forward with the confidence book despite the fact that my agent said I wasn’t known for the topic. Their advice? “You’re not known yet.”

Takeaway
By all means, pay attention to what people are saying. There’s almost certainly some sage advice to be found in their comments. Don’t, however, let them dissuade you from your dream. There’s a reason why you’re being drawn in that direction. You may have to make course corrections and the ultimate form your dream takes may be dramatically different than the one you currently envision, but if you’re dreaming it - it is possible.

Dale Furtwengler is the author of the internationally acclaimed book, Pricing for Profit as well as six other books

Lead a Life of Confidence: Free yourself of fear, anxiety and frustration
Making the Exceptional Normal
The Uniqueness Myth and other misconceptions that derail businesses,
Become a Maverick: Grow your business using the unconventional strategies of world-class companies
10-Minute Guide to Performance Appraisals and
Stand Out From the Crowd: Without having people point and laugh.

Dale's company, Furtwengler & Associates, Inc., helps companies get higher prices regardless of what their competitors or the economy are doing.

Long-term care doesn’t just impact the family of an elderly or disabled relative; it impacts your company’s bottom line. And it’s getting worse each year.

When a long-term care issue affects a loved one, that long-term care issue affects every member of the family. Unfortunately for a business owner, this means his or her employees are affected when one of their family members has a long-term care issue too. Recent studies have shown that any given individual has a 50% likelihood of being affected by long-term care in their lifetime, and 75% will be affected by a loved one’s long-term care issues.

An informal poll of our firm’s clients reflects the average costs for skilled nursing care in St. Louis, Missouri is $7,000.00 per month, or $84,000.00 per year. It is much higher than that in other areas of the country.

Given these costs, it’s no wonder an employee would devote more time to finding a solution to these issues than the job they have been hired to do. In fact, if they are also the ones providing care to their aging loved one, this is like your employee having another full time job. The ensuing decline in productivity costs a business owner money. According to the U.S. Bureau of Labor Statistics:

US businesses lose an average of 2.8 million work days each year to unplanned absences, which cost employers nearly $74 billion
Work day interruptions due to caregiving for adults cost employers about $3 billion
Absenteeism due to caregiving for adults cost employers about $5 billion

Unfortunately, this problem isn’t going away. It’s estimated that by 2020, one in three U.S. households will be involved in caring for elderly or disabled relatives, up from one in four today.

With the likelihood of a long-term care issue affecting a business owners employees, and the devastating costs associated with them, it makes sense to provide some solutions to employees in advance, but what can be done?

What is Long Term Care?
When someone has a long-term care issue it means they have issues with at least two activities of daily living or a cognitive impairment (such as dementia or Alzheimer’s). The activities of daily living are bathing, eating, dressing, toileting, continence, and transferring (getting in and out of bed or a chair). The care is considered “long-term” when the need for these activities is expected to continue for at least 90 days.

What Can a Business Owner Do?
Providing long-term care insurance to the business owner, executives and key employees is one piece of the puzzle. In many businesses, especially small to medium size businesses, if long-term care were to prevent a business owner or key employee from being able to work, the business would go under quickly. Providing long-term care insurance to a select group of employees is a great way to hedge your exposure to the risks of long-term care directly affecting your business, plus there are tax incentives associated with providing this insurance.

Premium payments made by an individual are included as a personal medical expense if you itemize on your taxes. Medical expenses exceeding 10% of your adjusted gross income (AGI) are deductible. However, self-employed individuals (including those in sole proprietorships, partnerships, LLCs, and S-Corporations) can write off 100% of the individual limit regardless of the 10% AGI limit, as a reasonable and necessary business expense.

This treatment is similar to traditional health insurance premiums. Likewise, for C-corporations, premium payments are also fully deductible as a reasonable and necessary business expense. This can apply to owners, their spouses, their dependents, and all employees. Tax treatment for benefits received from the policy for employees is very favorable as well. Employer-paid long-term care insurance is excluded from an employee’s gross income and the benefits received are tax free.

But what about the indirect consequences of an employee’s loved one needing long term care that a business owner can’t insure against? Start by providing education to your employees about the risks of long-term care and give them resources to seek out for professional guidance. Long-term care solutions are one of the most misunderstood set of legal and financial rules that exist, and without proper education, it can take years to figure out how to plan appropriately. Inviting a local elder law attorney or a qualified financial professional to speak to employees about these issues can avoid hours of lost productivity.

Long-term care issues are something that can be planned for in advance. A business owner should encourage his or her employees to seek guidance from a legal professional to pre-plan for any issues that may arise with their loved ones. Like most legal and financial issues, advance planning leads to the best (and least stressful) solution when those issues arise.

Brian G. Quinn is an Attorney with the law firm of Quinn & Banton, L.L.P. in St. Louis, Missouri. If you are interested in learning more about protecting yourself, your family, or your business using legal strategies, please contact Brian at 636-394-7242 to schedule a consultation.

Bill Prenatt – Strategy to Get Out Front

Cybercrime: Preventing a Victim Mindset

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Unique, Memorable, Referred

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Leveraging LinkedIn

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When Do You Cut the Cord, and Let That Prospect Go?

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The Care and Feeding of Your LLC

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The Power of Strategic Alliances

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Navigating the Changing Landscape of Social Media

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Stand Out In the Media Blizzard

Marketing Mistakes Owners Make That Torpedo Their Efforts

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How to Launch Your Business

Putting together a new business doesn't require reinventing the wheel. Don't fly alone. Together you will soar higher, faster.

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Now You Need A Flight Crew

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Planning – No One Size Fits All

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Putting together a new business doesn't require reinventing the wheel. Don't fly alone. Together you will soar higher, faster.

You must be an e4e Academy member to access the rest of this content, including a 20-minute video of this presentation. Learn more or log in.

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Long-term care doesn’t just impact the family of an elderly or disabled relative; it impacts your company’s bottom line. And it’s getting worse each year.

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This Month’s Sponsor: Richard Terry

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