May 2018
The Silver Fox Advisor
Advising, Consulting And Mentoring Greater Houston Area Business Since 1986
From the Editor...

Richard Hendee

Know Your Competitor
Often when I ask clients who their competitors are, the reply is, "We don't have any, nobody does what we do." Or, "I am not really sure who does what we do." What I learn from responses like those is that clients have not done the research needed to really understand the market they are operating in, or they do not want to face reality and instead prefer living in a world of their own.
Have you ever googled what your business does and been surprised by the number of results that come up? I just googled "Interior Design", and there were 25,500,000 results. When I searched "Auto Repair Shops Near Me", there were 81,200,000 results. I did not search all of the results, but that is not the point I want to make. The point is there is a lot of competition for whatever every business does, and you need to have a good understanding about the ones in your service area.
Failed Strategy Is A Great Teacher... What Can We Learn?

By Austin Tenette, a Silver Fox Advisor
Blockbuster Video, Kodak, Circuit City and now Toys R Us ...once great brands - Dead. Formerly titans of their respective industries, now sit atop the pile of failed companies.
All of these companies had several things in common:
  • Established, not startup, once very successful
  • Strong brands
  • Continued success required "change" - they were stuck
  • Failed to accurately assess coming change
  • Failed to maintain relevance
A strategic plan has been the weapon of choice, thousands of companies have used over the decades to "plan success".
The classic strategic planning process lasts 16-weeks and is comprised of research and interviews to collectively exhaust analysis of customers, markets, competitors, and internal operations. Deliverables included SWOT diagrams and all kinds of cool charts to demonstrate the strategy team's brilliance and PowerPoint prowess.
16 weeks is too long, today.
Silver Fox Advisors Present:

"Energy's Future In The 21st Century "
Silver Fox Advisors Lunch & Learn
HOUSTON, TX - Silver Fox Advisors announced the May 2018 Lunch & Learn Program, scheduled for Thursday May 24, 2018, will feature John Hofmeister. Mr. Hofmeister will be speaking about "Energy's Future in the 21st Century."
Upon retirement as President of Shell Oil Company in 2008, Mr. Hofmeister founded and heads the not-for-profit membership association, Citizens for Affordable Energy. This public policy firm promotes sound U.S. energy security solutions for the nation, including a range of affordable energy supplies, efficiency improvements, essential infrastructure, sustainable environmental policies, and public education on energy issues.
A business leader who has participated in the inner workings of multiple industries for over 45 years, Mr. Hofmeister also has held executive leadership positions in General Electric, Nortel and AlliedSignal (now Honeywell International). He served as the Chairman of the National Urban League and Chairman of the U.S. Department of Energy's Hydrogen and Fuel Cell Technical Advisory Committee.
Click Here for More Information...
Monthly Marketing Tip

By Mark Miller a Silver Fox Advisor
Manage Your Sales People One At A Time
Salespeople are a different breed, because selling is a unique business. The good sales people have quirks and idiosyncrasies that make them difficult to manage. This is the case unless you know how to manage them one-at-a-time. In fact, do you know what motivates each and every one of your salespeople? It's not just the money. However, that better be high on the list! Most sales people crave recognition, although few will admit to it. Many just want to do a "good" job.   Good, of course, is judged by their own standards. Some run hard for fear of loss. Examples are; loss of visibility, loss of status, loss of income, and (no joke) loss of employment. Learn each sales person's personal goals. Once you discover what motivates each of your individual sales people, Manage Them as Individuals! t
Silver Fox Advisors
Silver Fox Advisors are current and former business owners, entrepreneurs and executives dedicated to assisting business owners to improve their enterprises through mentoring and consulting. Advisors have been sharing their knowledge, experience and skills since 1986. To work with a Sliver Fox Advisor, please visit our website at and select your advisor.
Upcoming Events

Lunch & Learn

Thursday, May 24, 2018
Guest Speaker:  John Hofmeister, Founder & Chief Executive, Citizens for Affordable Energy & Former President, Shell Oil Company

Topic: Energy's Future In The 21st Century
Location: The Houston Racquet Club 
                 1079 Memorial Drive
                 Houston, TX 77024

Mark Your Calendar TODAY for this May 24, 2018 Lunch & Learn  
You can buy a table for eight for this event for the price of seven individual tickets. ACT NOW!!!!
This Month's Featured Book
by a Silver Fox Advisor

Click here to see more books written by Sliver Fox Advisors