Here’s the report: Eighty Ates BPR 151202
Sharon has been responsible for prospect relations and has recently taken responsibility for keeping our Social Media pipeline active. And judging by the response we’ve received so far, she’s been doing a great job of it! An important piece of what we do for clients is ensuring their social media is active, using all of the tools available nowadays, and so we need to set a good example. And so far, Sharon has been doing just that.
If anyone reading this feels their social media could use a little more “oomph”, feel free to drop Sharon a line at Sharonk@performancebusinessdesign.com and include your email. She’ll ask a few questions and then get you what you need.
This report is of March 2015
This report is of December 2014
Report is of December 2014
This report is as of November 2014
The Purpose of This Series
In this series I am going to show you the steps we take in working with clients. The area, which we call Performance Enhancement Strategy, which we will be covering here is called Your Mission Statements Are Impressive. This is the first step we undertake. Note that we use the uncapitalized mission statement to denote any type of mission statement and the capitalized Mission Statement to define what’s commonly referred to as the Mission Statement. Note that each article is brief. This is out of respect to your time commitments and because high performing businesses are not build overnight. Thus, we suggest you create a notebook or file, ideally one for each Performance Enhancement Strategy. Their are twelve in all, each with multiple steps.
Step 1: Describe Your Target Customers
- In order to form a set of mission statements we need to know something about the customers you sell to, particularly your Target Customer Groups. Without doing a full market analysis, we ask
- What drives your customers to buy?
- What impresses the customers about a business they buy from?
- How socially minded are your customers?
- Are they more likely to do business with a small family owned (so called Mom & Pop) business or a large well-known organization?
Don’t spend more than 15 minutes answering these questions. The answer will determine which mission statements we need and as well hint at their content. You see, a mission statement can backfire if it doesn’t address your Target Customer Group.
About Performance Business Design and the Author
For those new to Performance Business Design, we collaborate with businesses of less than $10 million to improve weak areas of our 12-Area Performance Check, which are the 12 areas we’ve deemed, in our 30 years of being Wall Street securities analysts, most contribute to business success. Anyone wishing to know more about how we work with existing clients to improve their business performance using strategies such as the one described here, can contact us to receive information sent by mail. Michael Emerald, CFA, meets with publicly held corporations weekly to evaluate business performance with the goal to determine investment value. Michael has an MBA from Chapel Hill and co-founded an institutional investment management firm in Boston. He now owns and manages Performance Business Design.
We posed the question to our readers, “Do you think the Fed should raise rates this year?”
67% said “Yes, raise rates slightly”.
Why do you think the majority would feel this way?
An economist, which I’m not, might share several reasons. For me, my answer would be this. The Federal Reserve Board uses interest rates as its most important tool to steer the economy. When the economy is doing badly, they lower rates. When the economy recovers, they raise rates, so to keep inflation from over-heating. Here, we saw the Fed drop rates to close to 0% around 2008, at the time of the last recession.
Like a Mustang GT headed towards a tree
The recession technically ended 2010, but yet the Fed hasn’t raised rates. Understandably they don’t see a solid economy and they don’t want to risk plunging it into a recession. However, I look at it this way: the economy was like a car going downhill in a snowstorm, headed hard left towards a tree (If you drove my Mustang GT in the winter, you would know this feeling well). To counter that, you steer the car hard right. However, what if the car doesn’t correct itself? Do you keep the wheel pegged hard left?
A good driver knows that in order to completely lose control, you steer the car slightly left.
What I’m suggesting here is that by keeping rates pegged towards zero, the Fed has completely lost its ability to steer the economy if and when another recession surfaces. You can’t go below 0% (or, more accurately, much below 0%). Better would have been to ease rates upward at the sign of recovery, and let the economy adopt to the new norm of positive interest rates.
What does keeping rates low portend for the future?
The future? Rarely do I forecast the economy but here I forecast a problem once another recession occurs, and they always do. The Fed will have lost its ability to lower rates, causing the recession to possibly be a bad one.
What do you think? Do you agree with me? Disagree?