Category Archives: Risk Management

What If… You had someone to push You?

What If… You had someone to push You?

You are in business by Yourself, and only report to Yourself. Being a facilitator of Peer Advisory Boards part of my responsibility is to create accountability to move You forward to where You want to be.

Peer Advisory Board members want to move forward, and sometimes need a little push. I am sometimes called a tormentor because I try to create accountability for your actions to enable you to move forward.

As a Tormentor I learn how much accountability you will accept. Too much, and you will be turned off. Too little, and You don’t get where you want to be. Having a board that have Your interest and want to help You is a powerful tool to help You accomplish Your goal!

I am sure you know a Peer Advisory Board is a monthly meeting of non-competitive business owners, Presidents, CEO and C level Executives with an experienced facilitator who keeps the discussion on track and drives for conclusions. At each meeting a topic is presented start the meeting, and to get the discussion following. Most Importantly, each participant has an opportunity to bring their issues to the table for peer feed back. In essence, a think tank with action and accountability.

PRO, President’s has created and facilitated business owners peer advisory boards for over 25 years. Technology now makes it possible for business owners to participate in On Line Peer Advisory Boards with an experienced facilitator, mentor, and tormentor. This means you can participate anywhere and on any wifi comparable device.

To give you an idea CLICK Here for a digital copy of the PRO Small Business Toolbook. 83 pages of articles, worksheets on almost every small business issue. It will get your brain thinking! This is an example of peer advisory insight

One member who was very early into the internet, and was number one for his product. He always talked about hiring a salesperson, and did not fully recognize the Internet asset his company had achieved. His Peer Advisory Board pushed him to add more items to his web site.

Today he has maintained his number one internet presence, and operates his business without outside sales people. He is substantially more profitable, and has increased the value of his business when he plans to exit. He did it with a little push! Maybe more than a little.

Now you can participate in an On Line Peer Advisory board anywhere, and on any device. CLICK Here for the Small Business Toolbook and to learn more about ON LINE Peer Advisory Boards.

What If… You could Avoid a Bad Decision?

What If… You could Avoid a Bad Decision?

Who do you discuss your business thoughts and decisions? A PRO, Peer Advisory Member was asking his board about a potential business investment decision. The board did not feel this was a good investment, and also gave the person thoughts to improve the probability of success, if he made the investment.

A new member stated, “I wish I was a member before I made a major investment that did not work out. I needed someone to question me before I jumped.” Do you have someone to question You? Or, bring thoughts how You can increase the probability of Your success?

I am sure you know a Peer Advisory Board is a monthly meeting of non-competitive business owners, Presidents, CEO and C level Executives with an experienced facilitator who keeps the discussion on track and drives for conclusions. At each meeting a topic is presented start the meeting, and to get the discussion following. Most Importantly, each participant has an opportunity to bring their issues to the table for peer feed back. In essence, a think tank with action and accountability.

PRO, President’s has created and facilitated business owners peer advisory boards for over 25 years. Technology now makes it possible for business owners to participate in On Line Peer Advisory Boards with an experienced facilitator, mentor, and tormentor. This means you can participate anywhere and on any wifi comparable device.

To give you an idea CLICK Here for a digital copy of the PRO Small Business Toolbook. 83 pages of articles, worksheets on almost every small business issue. It will get your brain thinking! This is an example of peer advisory insight

It may take courage to bring ideas to an unbiased board, but the people who do this achieve better results. They know they don’t know it all, and are willing to learn to do better. They realize “That All of Us Are Smarter Than One of Us.”

Now you can participate in an On Line Peer Advisory board anywhere, and on any device. CLICK Here for the Small Business Toolbook and to learn more about ON LINE Peer Advisory Boards.

What if… Your product or service is impacted by Tariffs?

What if, Your product or service is impacted by Tariffs?

Businesses are changing faster than ever due to Government Regulations, technology, global communications, and distribution, etc. Leaders need to get outside their business to gain insights, opportunities, and awareness of the world around them from other business owners. They need to Be Aware!

At a peer advisory meeting find out from others who are impacted by tariffs their strategy to cope and benefit. Are they raising prices, how much, when? Have they purchased commodity contracts to protect their costs? Do they have long term fixed price contacts? These are just a few of the issues a peer advisory board will discuss on tariff impact. The essence is all of us are smarter than one of us.

I am sure you know a Peer Advisory Board is a monthly meeting of non-competitive business owners, Presidents, CEO and C level Executives with an experienced facilitator who keeps the discussion on track and drives for conclusions. At each meeting a topic is presented start the meeting, and to get the discussion following. Most Importantly, each participant has an opportunity to bring their issues to the table for peer feed back. In essence, a think tank with action and accountability.

PRO, President’s has created and facilitated business owners peer advisory boards for over 25 years. Technology now makes it possible for business owners to participate in On Line Peer Advisory Boards with an experienced facilitator, mentor, and tormentor.

To give you an idea CLICK Here for a digital copy of the PRO Small Business Toolbook. 83 pages of articles, worksheets on almost every small business issue. It will get your brain thinking! This is an example of peer advisory insight

One member, an importer of stainless steel bars, has tariffs as a major issue. The peer advisory meeting was a strategy discussion of raising prices in increments to learn where there was price resistance.

This member has significant inventory, and therefore could create short-term profit on their inventory, and has to be aware of building inventory in the future in case tariffs were reduced and would take a price beating on tariff purchased inventory. Some times we are so close to the trees we don’t see the forest.

Now you can participate in an On Line Peer Advisory board anywhere, and on any device. CLICK Here for the Small Business Toolbook and to learn more about ON LINE Peer Advisory Boards.

Long Term Care – I Wish I Knew Then What I Know Now!

Getting older doesn’t always offer many benefits (we certainly get more aches and pains), but one big benefit is that we gain knowledge. Long term care isn’t considered often enough.

For example, I learned about the expense of NOT having Long Term Care Insurance when I watched my father wrestle with serious medical problems. Later, that lesson was reinforced when one of my key employees was diagnosed with a brain tumor, living severely disabled for two years.

At the time, I was not aware that Long Term Care Insurance even existed, let alone that it might be tax deductible. I didn’t know that LTCI is a benefit many employees would like and would even be willing to pay for themselves. And, I am embarrassed to say, I didn’t know that my employees could get a discount for their LTCI coverage through my efforts as an employer. But now I do.

We all like to think we will live forever in good health, but that’s not realistic. When the time of need does strike, LTCI is the one insurance you can’t afford not to afford, if you get my drift.

Because of my personal belief in the need for this protection, I have arranged for the people I’m associated with to receive it at a discounted premium. I have contacted an agency who writes ONLY LTCI, who’s been doing it for decades, and who knows all the ins and outs of coverage. This agency works with an A+ rated insurance carrier that is as solid as the Rock of Gibraltar.

If you would like to explore the possibility of obtaining Long Term Care Insurance for yourself, your family members, or your employees, please contact me by phone at 800-818-0150 or email ray@propres.com. I will put you in touch with the experts.

One more thing I learned…only LTCI is designed to help safeguard your assets by providing important protection from the devastating costs of a long-term illness. Traditional health insurance and Medicare do not address this issue. Who knew?

As I get older, I am gaining knowledge that allows me to better protect myself and my family. How about you?

If you are not in the Chicago or Phoenix areas and would like to explore with me how you can position your business and benefit in The World To Come, visit http://propres.com/. People say life is an adventure…come and explore with me!

Get the new Small Business Toolbook – 25+ years of Advisory Group Expertise

Measuring Risk – Don’t Be A Seymour

Growing a business means taking risks and making changes. But that’s not as easy as it sounds. And for most people, the longer you are in business, the harder risk-taking gets.

When you first started your business, you were willing to take some big risks. You had to. But ironically, as you grow more successful, chances are, you’re becoming more risk-adverse.

It’s simple: back then, you had less to lose. Now, you have something worth protecting. Along with success comes a growing sense of caution. Now, you’re invested in the status quo.

But too much caution is deadly for entrepreneurs. That’s best left to the professionals, namely, your attorney and accountant. They’re professionally trained to eliminate risk. Once you start thinking the way they do, your entrepreneurial spirit—the driving force behind your business—starts to dries up.

If you want to stay successful, you need to keep your edge. That means taking risks. Carefully calculated risks. Risks with a high probability of success.

So yes, you need to evaluate prospective risks thoroughly. But sometimes, the evaluation process becomes a reason for stalling. It’s something I see all the time in my small business peer groups.

Realistically, we can’t expect to obtain all the data needed to make a 100% foolproof decision. It’s tempting to delay taking action because we continually want to “see more” facts and information. Don’t be a “Seymour”…when it’s time, take the plunge!

Or, in the words of iconic business expert Tom Peters: “Ready, fire, aim!”

Okay, maybe that’s a slight overstatement. The point is, what you don’t want to do is “get ready…aim…check your sites…check the wind…re-aim…check the elevation…and fire.”

If you do that, by the time you finally get around to squeezing the trigger, your target will have moved out of range. Or someone else will have bagged it first. Opportunities are transient things. You have to seize them when you see them.

If you have goals, you’ll have to take calculated risks to achieve them. So, are you weighing some risks now? What’s keeping you from moving forward? What will it take to move you toward achieving your goal?

If you’ve been stuck in place for a while, request my free Goal-Setting Worksheet, and take a first step toward taking action. Don’t be a Seymour. Email me at Ray@ProPres.com.

Get the new Small Business Toolbook – 25+ years of Advisory Group Expertise