PD Strategies Blog

Time to do a goals and business plan review for 2023. There are headwinds coming. Check where you are now. Do you have the right people in the right jobs doing the right things for the right reasons? First, make certain you know the core competencies needed in the job. Depending on the role this could be anywhere from accountability for others to attention to detail or from conflict management to futuristic thinking. Many businesses have not done a good job of selection and they will have a difficult metrics and results-based measurements of skills, performance, and interpersonal skills when they find that they must pare back. High performing employees will result in helping your organization meet its goals and will promote your brand to your customers. Do what you can to retain your high performers? Then make sure you do stay interviews now. The high performers are a step ahead...

It is certainly easy to say that you know today’s problem. There is no denying that the last two years have provided challenges. Don’t just make the mistake of thinking once the country returns to “normal” we will be fine. Smart employers are starting to ask questions and look for root causes. The problem of the great resignation and the search for talent is real. Is it just because of the pandemic or has the last two years cause some paradigm shifts? What you are seeing are symptoms and they are real problems. You want to remove the problem or, at least, move forward in spite of the problem. You can’t take a knee jerk reaction and treat the symptoms. It is important to look at the whole picture rather than make a reactive fix. It would be a mistake to treat the symptoms rather than cure the disease. Many reactive...

Are you having trouble restarting but can’t find the cause of your problem? If you are having this issue, you are not alone. I receive calls like this from business owners often and much more often now. It is my job as the business doctor to learn the symptoms and then diagnose the problem. During my consultation I ask questions, listen for answers, and then ask some more questions. As an example of symptoms, here are some statements that I hear from the owners. Our sales have begun to level off.We can’t get our employees motivated.We are getting more customer complaints.We have new competition. While these sound like normal business problems there is no simple answer for them. It is important to look and the whole picture rather than make a reactive fix. It is better to take a proactive look. It would be a mistake to treat the symptoms rather...

Business has changed dramatically since the pandemic and subsequent shutdown. Prior to the shutdown business was brisk. You have had some strong business growth, but reopening does not guarantee of future results will be the same. The best way to predict the future is to create it. Go for a strong restart with a jumpstart. Begin with the basics. Make sure your vision, values, and mission. Redefine your business objectives, goal categories, and your SMART goals. The execute and monitor. You may have heard the expression, “If you can’t measure it you can’t manage it” What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. But that, again, is a measure of what happened in the past. It may not predict what will happen...

Have you greeted certain people by asking them how they are doing? Then they respond, “very busy.” I had a recruiter who worked for me in HR and he was always running around but he was not recruiting! As a leader of yourself or others you must do the right things and you must do things right. Both behaviors are required to lead a team or manage a business. In Doing Things Right you establish detailed steps and timetables for achieving needed results, establish structure, monitor results, and execute specific plans. On the other hand, Doing the Right Things includes establishing direction, aligning people, and motivating and inspiring people. In short, management (Doing Things Right) is important but will not succeed without leadership (Doing the Right Things). In the case of an entrepreneurial leader this would be described as the difference between working IN your business and working ON your business....

Staying in business is a big topic right now. We can call this sustainability. Sustainability means different things to different companies as well as industries. Sustainability really started with the whole concept of being green, becoming more environmentally friendly, and paying more attention to conserving our planet’s resources. However, sustainability has become much more than that. Sustainability has become a viable business strategy which considers the economic considerations for business sustainability, governmental issues, and opinions from customers and stakeholders. Where did the term sustainability come from? The term sustainability emerged in the 1987 report by United Nation’s World Commission on Environment and Development. The report simply defined sustainability as follows: to meet the needs of the present without compromising the ability of future generations to meet their own needs. No matter how a business defines sustainability or how they choose to implement the concepts, there is a commonality to sustainability that...

You already know what happened in the last quarter, but do you know what will happen in the current or next quarter. If you want to have positive results for your business will need to measure and control the things that matter. As a business leader you need to see the big picture. That includes tracking the pulse of your business. Watching a dashboard of controls tells you if your car is operating properly. Having a dashboard for your business will tell you if your business is on track to reaching your goals.

As a leader who is working ON your business you will need to track important trends which can quickly warn of problem areas that need attention. You should not waste time getting bogged down in the small details of working IN the business or you will miss the forest for the trees.

You should measure business success by measuring trends and directions not numbers. Looking at the numbers alone will not tell the entire story. You should be measuring the trends and the movement toward the critical goals of your business.

These are some things that are worth measuring.

Finances – revenues and sales, profits, cash flow

Inventory – unusual drops or increases

People (Employees) – productivity, turnover, employee engagement scores

People (Customers) – customer satisfaction, customer loyalty scores

This information is vitally important to the leader of the business.

Of all the measurements one measurement that is the most important because it is the biggest predictor of future success. It is NOT finance and profit. That may surprise you. Of course, profit is indeed very important but is a measure of what has already happened. It should come with the same warning put on mutual funds which is “This represents past performance, which is no guarantee of future results.” That’s right. Just because you have had good sales and profits last year does not mean that you will have increased sales and profits this year. Sales and profits are TRAILING indicators.

A LEADING indicator which will predict future success is customer loyalty or the customer loyalty score. The most important measure of customer loyalty is the answer to this question. “How likely are you to recommend us to your friends?” You should survey your customers with this question along with other customer questions that will help you understand what you need to do to exceed your customers’ expectations. Whatever else you measure make sure that you track this. Rising scores will lead to more sales. In the same manner falling scores will predict decreased sales.

If you measure customer loyalty and see opportunities for improvement take action immediately. Taking the correct steps will help you create more sales, profits, and success.

Learn how to create predictive controls for more business success.

Contact Us for a Free Consultation

or call 914-953-4458.

It is important to be focused on your business but even more imperative now. Most successful business owners cite laser focus on the right things as paramount to their success. Staying focused and staying sharp on the things necessary to grow and change is important. But sometimes business gets lazy and in a rut. The owner stops seeing the big picture. The business has had years of successful sales and profits. Since the business is still making money and continuing to operate the reasoning is if it is not broke don’t fix it. But recently the business has experienced a decline in sales and profits. In short, there have been changes in the economy and the market. To remain successful, the business owner must refocus. How are you doing? Take this 5-area checkup: Make sure you know what business you are in. If you make cell phones do you provide smart...

It is time to reopen your business. Well maybe it is not that easy because what you left off with is not there anymore. It looks like it is going to take some extra effort. That makes sense because it is a simple law of physics. It takes more energy to start up than it does once you are moving along. First you must get back the momentum. But doing that reboot must first be done. Why not just do it? Well for one thing many do not want to do until they have thoroughly analyzed each step. That is called the paralysis of analysis. A coach colleague of mine has coined this habit “Getting ready to go to work”. I cannot start until I get my brochures, business cards, website, 2 number 2 pencils—you get the idea! I have heard that 80% of people who say they want to run...

If you have had profits in the past there is no guarantee you will have them in the future. To quote investment company advertisements, “past performance is no guarantee of future results.” You need to have a leading indicator. A leading indicator would show current business conditions which would lead to continued success. Two very important measurements are employee engagement and customer loyalty. While sales and profits are very important measurements, they tell you what has happened. Employee engagement and customer loyalty tells you what will happen. When you have engaged employees they will do their best work which will result in loyal customers. You should measure employee engagement at least once per year. The ultimate employee question is, “How likely are you to recommend our company as a great place to work?” When you have highly engaged employees you have promoters of your workplace. A measurement called The Net Promoter...

Measurements make a difference in the operation of your business. You may have heard the expression, “If you can’t measure it you can’t manage it.” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having a plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future. Predictive analytics is the best way to step in and create your business future. It is far better to rely on predictive measurements to make decisions than to rely...

You have finished your strategic plan for next year and created your goals. Now you must implement but how do you know it you are on track for future success? You have had some strong business growth, but that performance is no guarantee of future results. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many...

We are working with business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. Once you set your goals you need to make sure you are on track. You would not take a cross country car trip without using your GPS to make sure you are on track. So similarly, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however,...

Another thought this time of year when we are working on our business plans for the next year.  We need to have clear objectives and goals.  You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress.  Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it.  For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit.  That, however, is a measure of what has happened in the past.  It may not predict what will happen in the future. Using measurements that predict whether you are on the right track and will...

Fear of change is an emotion that can become paralyzing.   But change is inevitable and all businesses must expect it. You have probably heard it said that what you did to get you to where you are now will not get you to where you want to go next. Changing the right things and taking the right action is crucial. Here are 5 beginning steps to take in the process of change for better results: 1.        Make sure you know what business you are in. Whether you are in real estate, construction and contracting, graphic design, or consulting you must define what you provide to the customer. For example, Kodak should have realized that it was not in the film business but in the image and impression sharing business. In real estate are you selling houses or assisting buyers in improving their lives? 2.        Get in front of change.   The best...

Past performance is no guarantee of future results. You have heard that statement at the end of most investment advertisements and with good reason. Just because you were successful in the past does not mean you will be successful in the future. I work with business owners in Westchester County New York who define success through their vision, their values, and goals. In addition, they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” To begin, you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. But that,...

You need a balanced approach to management in order to obtain great business results. Why? You need it because your organization will have multiple goal categories, goals and action steps. The flawless execution of these action steps will result in a loyal customer base. The end result will be more sales and profits. But how do you keep it all on track? The Balanced Scorecard, in my opinion, is the best way to stay focused on all of the organization’s goals and keep your staff on track too. Very simply a balanced scorecard is an ideal form of performance measurement. The business leaders identify a small number of financial and non-financial measures and attach goals to them. When the results are reviewed it is possible to determine whether current performance 'meets expectations. By alerting managers to areas where performance deviates from expectations, they can be encouraged to focus their attention on...

I work with numerous business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future....

Are you ready to take your business to the next level? Most businesses say yes but do not know what that means. First of all you need to know where your business is now. You have to have a starting point. Then you can see where you want to go. Businesses like people go through growth stages and many drop off along the way.  Some businesses may survive due to external dynamics and timing but they will become stagnant and the owner will feel like a hamster on a wheel. There is a lack of entrepreneurial leadership. Let’s take an example. There are numerous great cooks and chefs that feel that because they understand how to create a great meal that, therefore, they would be a natural to open a restaurant. They open the business and make sales. However, the owner is usually consumed with running the business and catering to...

Would you like to learn the truth about your business? Before you answer that question I have another. Can you handle the truth? Sometimes when an organization asks for help and receives feedback it could be surprised to learn some inconvenient truths. If you want to learn how to improve your organization you will want to have an organizational assessment of your business. There are very effective assessment instruments available to generate a fact based picture of organizational performance – I utilize the D.I.AL.O.G. assessment instrument for my clients. However, it is important to have a mutual understanding of the process first. So before I begin the process I want to make sure that it will have a meaningful impact. I will ask the following questions: Will you be open to sharing the results with your organization? And if so, as part of the process I will offer to facilitate the...