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

Richard Hendee

Gross Profit Margin
One of the easiest ways to improve the bottom line of most businesses is to increase the "Gross Profit Margin." This can be accomplished by increasing the prices of a business's products and and/or services or finding a lower cost of goods. Finding a lower cost of goods can often lead to an inferior raw material, which could harm the quality of the business's end product and/or services; thus, extreme care and consideration should be given when considering that scenario. However, that being said there can be opportunities to find a lower cost of materials as good as or possibly even better than those presently being used. Why not at least explore this option in order to stop leaving money on the table?  
The One Thing You Can't Do For Yourself

By Keith Okano, a Silver Fox Advisor

The one thing you can't do for yourself... is to coach yourself.
Here's why.
1. You can't see what you can't see .  Everyone has blind spots.  A coach can be an extra set of eyes to assist you in "seeing" and understanding things going on in your organization, marketplace, or even within your leadership team, that may not be obvious to you.
2. You can't know what you can't know .  A coach won't help you get better at your strengths, but two smart people are more effective than one.  Their talents and experiences should complement yours.  A coach will also help you identify and reach your full potential.
3. You can't hold yourself accountable . You might hold yourself responsible, but accountability is much harder. A regular session with a coach will benefit you in developing specific goals, defined timelines, and offer assistance in reaching them.  A good coach will also call you out for excuses, and help you learn properly from failures so they are avoided in the future.
Community Outreach Update

By Rainee Busby, Outreach Committee Chair
Silver Fox Advisor's Long-Running Alliance With The
Better Business Bureau of Greater Houston/South Texas
Many of you may be familiar with the BBB but may not know all the wonderful ways that they help not only businesses and non-profits but also consumers.  The Silver Fox Advisor's organization has worked with the BBB for many years to support their annual Awards for Excellence competition.  This competition invites for-profit and non-profit businesses to compete.  We look forward to providing additional support to the BBB in the future.
The BBB Awards for Excellence program, with the help of the Silver Fox Advisors judges, is a very rewarding experience for our Foxes who participate.  We judged well over 200 applications with the objective of identifying the top 35 businesses/charities.  Once the list has been chosen, a wonderful award party is held in their honor.  Please review the list of winners from the link above and be sure to reach out to them for any of your product and service needs.

Silver Fox Advisors Presents

"Politics - The 2018 Elections"

Silver Fox Advisors Lunch & Learn
HOUSTON, TX - Silver Fox Advisors announced the October 2018 Lunch & Learn Program, scheduled for Thursday October 25, 2018, will feature Gary Polland and David Jones, hosts of Channel 8's popular Red, White and Blue Program. The topic will be "POLITICS - THE 2018 ELECTIONS".
Gary Polland is a Houston Attorney who was the Chairman of the Republican Party of Harris County from 1996 to 2002. He is the publisher of the Texas Conservative Review, which he issues periodically on the Internet. In 2004, Polland led the Texas Legislative Mission to Israel. He serves on the national boards of the American Israel Public Affairs Committee (AIPAC), the Jewish Policy Center, and the board of the Susan B. Anthony List, a pro-life political action committee. He is also the vice chairman of the United Jewish Communities. Though he is himself Jewish, Polland has worked closely with the conservative Christian community in Harris County on political matters.

Monthly Marketing Tip

By Mark Miller a Silver Fox Advisor
Bulls Make It, Bears Make It, Pigs Never Do
A general rule of thumb in following negotiating principles is to heed this advice:  When negotiating anything, whether it be PRICE, TERMS, DELIVERY or SERVICE, allow the prospect to at least feel like he or she is winning.  Customers who do not feel good after a sale will find a way to not remain a customer.  Put another away, treat all first-time buyers as having potential for long-term relationships. Treated fairly, clients will always remember how you started together.  The same advice applies to your personal life. 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 www.silverfox.org and select your advisor.
Upcoming Events

Lunch & Learn

Thursday, October 25, 2018
Guest Speakers:  Gary Polland and David Jones

Topic: Politics - The 2018 Elections
Location: The Houston Racquet Club 
                 1079 Memorial Drive
                 Houston, TX 77024

Mark Your Calendar TODAY for this October 25, 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