BizEnrich Presents! Sales Strategy, Collaboration, Efficiency and Business Strategy

Posted on October 12, 2010 by
BizEnrich Team

BizEnrich Team

For the past eighteen months I have been a charter member of BizEnrich, a membership organization of independent business experts. In addition to networking and learning, members of BizEnrich collaborate on projects to benefit our mutual clients and the business community. 

On September 10, 2010, twenty business experts from BizEnrich attended Fiberlay Expo, a customer appreciation expo hosted by Fiberlay, a leading distributor of composite, casting and related products servicing a multitude of industries both domestically and internationally.  At the event, customers got to showcase their creations and interact with Fiberlay team members, as well as Fiberlay suppliers. BizEnrich was invited by Fiberlay to conduct a series of four business training sessions and enrich the business acumen of Fiberlay customers. Continue reading →

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What is a Collaborative Enterprise?

Posted on August 31, 2010 by

I’ve just finished reading a new book called “Creating a Collaborative Enterprise, Retool Your Organization to Dominate Your Markets” by Robert Nitschke, or Bob as he is known in more casual settings. (http://creatingacollaborativeenterprise.com/) Bob’s thesis is that companies that are passionate about collaborating with stakeholders (including employees) to provide customers with superior products and services are more successful in the long run than those who rely on command and control approach to management.Creating a Collaborative Enterprise

I have worked on the implementation of over 150 enterprise resource planning (ERP) systems around the country and in that group I think I worked with only a couple of companies that might be considered Collaborative Enterprises (CE). And the more these companies leaned toward being a CE the more successful they were in the ERP implementation. Continue reading →

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Who are Your Best Customers and Why?

Posted on August 20, 2010 by

Do you know who your best customers are? Before I offer one way to answer that question, let’s consider what would define “best”. One way to think about best customers would be to measure how much they buy from you compared to other customers. Another more complex measurement would be to measure what your profit is from your best customers compared to the others. And an even more complex measurement would be to factor in all of your costs (like marketing, sales, support and admin costs.) That is probably a bit over the top for most businesses.  

First Tesla Roadster in British Columbia

What about other factors like new markets a new customer can take your business to or the potential contacts they can offer? And how would you measure a customer like this couple who bought the first Tesla Roadster in BC? Make sure you catch the last line of the post. Hmm… wouldn’t you like this kind of passion in your customer base?  

But back to measuring your best customers. Continue reading →

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The “Got – Owe” Ratio

Posted on July 26, 2010 by

I am the chair of the finance committee at a local tennis club and at our last meeting we discussed which key performance indicators (KPI’s) would help the board understand how the club is doing. One KPI that we settled on is the current ratio, but several board members are not financial types so we discussed how to label KPI’s so that they are easier to understand. One of the committee members who has taught finance classes suggested that instead of calling it the current ratio we call it the “Got – Owe” ratio. So let’s explore the Got – Owe ratio. Continue reading →

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Measure What?

Posted on June 22, 2010 by

“What gets measured gets managed”.  A quote attributed to Peter Drucker.

Keeping close tabs on the performance of the business is critical, particularly as our economy works its way through this recovery. Managing a business requires a broad set of skills and attention to all parts of the business. Often CEO’s are good at making or selling “things” (goods and service offerings) but some don’t spend enough time monitoring the overall health of their business.

Many people are unsure of what to measure and find it confusing to determine what metrics to monitor and how to take the measurements. I like to start with some straightforward financial metrics that can be implemented quickly so you start managing based on up-to-date information. That way you start getting a return on your investment whether you use QuickBooks, SAP or any other system. These metrics can be done using something as simple as a spreadsheet or with desktop or online dashboard tools.

The easiest things to monitor are sales and cash on hand which are likely to be available in your accounting system, but that is only part of the picture of your business. Positioning the company for growth requires additional effort to understand and monitor not only sales but also those activities that impact profitability and cash flow.  A key to successfully growing the business is identifying a set of key metrics that provide the visibility to help chart the course for your company’s growth, so let’s review “What to Measure”. Read More

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