January 2020 Newsletter - 20th Anniversary Edition
Are You Driving Backwards?
Quick. The next time you're driving your car, take note of how much time you spend looking forward versus looking backward in the rearview mirror. My guess is that you are looking forward the majority of the time. What if you weren't? Can you imagine driving a car and looking in the rearview mirror almost the entire time? It would be like driving backward. At some point, you would probably crash.
How about your business? How much time to spend looking forward versus looking backwards?
Most small business owners have a set of financial metrics, Key Performance Indicators (KPIs), they look at on a regular basis. The numbers may include sales, profits, cash flow, receivables, etc. These are all good metrics to track the financial performance of your company. The
past financial performance of your company. It's like looking in the rearview mirror of your car. They're considered
lagging key performance indicators.
What about the future? What metrics do you look at that point to what's approaching? These are considered
leading financial indicators. They help you predict what your sales, profits, and other financial measures will be in the future.
What are some examples of leading indicators?
SMALL BUSINESS MATTERS - THE PODCAST
Rick Mayo founded a personal training business, Alloy Personal Training Center, in 1992. In the past decade, he and his team began helping major brands and independent gyms, health clubs, and fitness businesses around the world deploy personal training systems through a licensing model under the Alloy brand. A subject matter expert on health and fitness, Rick is also a featured conference speaker, both Internationally and domestically and contributes regularly to industry publications such as "Men's Health" nationwide.
In this episode of Small Business Matters the Podcast, a long-time friend of SBM stops by to chat with Tim and Taylor about internal communication, embracing change within your business, focusing on your core offering, and the most important role of CEO.
SMALL BUSINESS MATTERS @LUNCH
Mark your calendars for these upcoming 2020 Lunch Dates!
February 24 | March 16 | April 20
Join us @Lunch Monday, February 24 with special guest speaker, Dez Thornton.
Participate in an engaging keynote presentation designed to demonstrate how to develop and deliver clear presentations. Using his proprietary Diamond Delivery Method™, speech writer and coach Dez Thornton will teach you how to cut through the clutter and lead listeners to desirable conclusions.
Whether looking into a camera, connecting one-to-one or speaking to a group, you'll become more proficient at making dynamic impressions. The skills learned during the program are immediately transferrable from the stage (presentation) to the boardroom (conversation).
- Plan, develop and deliver professional presentations
- Inspire willful audience engagement
- Increase acceptance of ideas and proposals
- Grab and hold audience attention
- Make the complex simple
- Fast track comprehension
- Avoid embarrassment and reputation harm
- Reduce anxiety
- Increase confidence, gain trust and expand influence
Event Location: First Citizens Bank
3300 Cumberland Blvd NE, Atlanta, GA 30339
Thank you to our 2020 SBM@Lunch Sponsor:
About First Citizens Bank
With a 121 year history and presence in 19 states, First Citizens is one of the largest family controlled banks in the nation.
As a family-run bank, First Citizens continues to build their bank by serving primarily family-owned businesses, as well as small non-profits.
Specifically, we are the leaders in Healthcare and Professional Services, Owner-Occupied Real Estate, as well as Equipment Lending. We take pride in building long-term, consultative relationships, and have built a process that provides our clients with quicker feedback, more transparency, and very competitive rates.
Program Dates: Feb. 27 | March 26 | April 23 | May 21
The SBM Boot Camp is designed to assist small business owners and operators by giving them the tools necessary to steer their business in the right direction. The program spans four full days and includes various business topics such as:
- Strategic Planning
- Financial Management
- Organizational Design
Perhaps most importantly, you'll have the opportunity to network with entrepreneurs that are battling the same challenges and obstacles that your business faces every day.
Can't commit to consecutive classes? No worries, each unit is stand alone. Attend any missed units during the next program series, or elect to have someone within your organization attend the unit dates that relate to their area of expertise.
Here's What Recent Boot Camp Graduates Have to Say!
The Infinite Game by Simon Sinek
Growing up as a kid in Miami I loved to play games. I played little league baseball, football, and basketball. We had an open field next door to our house and it was in use almost every day as the kids in the neighborhood played games from dawn to dusk.
I also loved to play board games as a child. There's nothing like a game of monopoly, or risk, or the favorite family game of cribbage. As I got older there were neighborhood poker games almost every weekend.
Needless to say, I had a competitive streak as young man. I hated to lose a game. We kept score of everything. Everywhere we went ended up being a race of some sort.
Naturally, when I got into business I assumed that nothing would change. Business would be all about winning and losing as well, and I was obsessed with winning. I was always comparing my sales with those of my peers. I always saw my competitors as evil. It was me against them every day.
I was playing the finite game
Best-selling author Simon Sinek's new book,
The Infinite Game,
takes a very interesting look at a different type of game. An infinite game.
A WORD TO THE WISE
Your choice as the CEO is to work hard or hire smart."
- Bob Prosen, Vistage speaker
SAVE THE DATE
May 15, 2020 - Small Business Matters 2020 Conference
Mark your calendars and plan to join us for the 6th annual Small Business Matters Conference. Plans are underway, and the event is shaping up to be our best conference to date. More information coming soon!
Here's a look back at the 2019 Conference...
Please let me know if I can help you in any way.
Remember, small business does MATTER.
President & CEO
Small Business Matters
"Dedicated to Increasing the Effectiveness and Enhancing the Lives of CEOs"