Speaking Tour Day 4: Notes From the Road

We have completed the Western segment of the Distinguished Advisor Workshop (DAW) speaking tour and have met many talented advisors along the way.  As is the case with any session of this nature, the level of value increases when peer learning is part of the process, so your participation is appreciated!

I’ve been sharing thoughts around the topics of business transition and the next generation, as well as business continuity planning.  Some advisors who don’t work in these areas might be asking the question: why should I attend this type of session?  Here are some things to think about:

  • It’s likely that your clients are facing transition related issues, such as business transactions and succession planning.  These areas can require a lot of support to compensate for knowledge gaps, so checking in with clients on a regular basis and getting a sense of what they are up to is an important must for advisors.
  • Although you might not be the one to perform whatever transition related assistance is required, advisors should seek to have a range of skillsets within their professional network, to assist clients when needed.  Advisors that are well connected are in a position to add tremendous value to clients.
  • Those who are not up to date on client needs run the very real risk of being replaced by advisors who do a better job in this regard.  Clients expect more than just completion of the deliverable at hand, and successful advisors know how to ensure that they are providing incremental value.

Advisors can enhance their position by taking the time to understand the issues that their clients are facing, being a supportive, while objective sounding board, and making the right connections when needed.  Raise the likelihood that you are the first call that your clients make, in the comfort that, one way or another, you can help.

Join us at the remaining DAW sessions in Toronto and Ottawa to learn more; you can register here

Speaking Tour Day 3: Notes From the Road

We’ve been out on the Distinguished Advisor Workshop (DAW) speaking tour for a few days now, and have visited Vancouver and Edmonton.  It’s been great to talk to advisors about their own businesses, as well as some of the general situations that arise when working with clients.

I’ve been sharing thoughts around two topic areas: Next Generation Continuity Planning and Building Business Continuity Plans.  Given that so many companies are poised to change hands, now and in the not so distant future, these area critical areas for advisors to understand.  Here are a few thoughts to consider:

  • Transitioning a company from one set of owners to the next (and one set of leaders to the next) is a specialized area; something that most business leaders will encounter only once in their career.  Often times, they lack the knowledge of where to start when considering this important issue.
  • It’s often been said that it’s “lonely at the top”, and this is never more true than when dealing with transition.
  • In the absence of a well developed plan to raise the likelihood of business continuity over the long term, companies face the risk of ceasing to exist; an unfortunate end to what might be a lifetime of work.

Will you be the advisor to answer the call, when a client needs assistance in this area?  Are you ready to answer this important call?  Learn more about our DAW speaking tour here

EVENTS: Speaking Tour (Distinguished Advisor Workshops)

Coming to a city near you!  Join us for the Distinguished Advisor Workshops in Vancouver (May 29th), Edmonton (May 30th), Calgary (May 31st), Winnipeg (June 1st), Toronto (June 5th), and Ottawa (June 6th).

Looking forward to sharing thoughts in the following important areas:

NEXT GENERATION CONTINUITY PLANNING

In this session, you will learn how to prepare your clients who are transitioning their businesses to the next generation of leaders and/or preparing their business for sale. Tax and financial advisors can be of significant help by guiding clients in the direction of formal business continuity planning

Learn how to address key issues your clients should be considering, including:

The transaction “knowledge gap”;

The opportunity to apply innovation to business continuity planning;

How to approach strategic business planning, and the succession transaction itself; and

How to address financial partner considerations.

Things to consider in finalizing the transaction.

The continuity of these companies could depend on your help: and, it’s your opportunity to differentiate your services from others.

BUILDING BUSINESS CONTINUITY PLANS

Every business needs a formal plan throughout its lifecycle, for focused decision making, as well as in preparation for its exit and/or transition.  This session will discuss the sound guidelines that business owners should use to develop such a plan and other value building considerations, including:

Guidelines for developing a well written business continuity plan;

Identifying and articulating your market opportunity;

The relationship between the business model, strategy, and plan;

Key planning components, including products/services, marketing strategy, and operations, and Management;

Guidelines for preparing a financial forecast for three to five years; and

An introduction to the Executive Business Builder Designation Program

Details and registration are located here.

As the lead instructor and author of four certificate courses in the Knowledge Bureau’s Master Financial Advisor (MFA) Designation Program in succession and business planning, and certificate courses in the new Executive Business Builder Designation Program, I look forward to delivering these sessions.  See you on the road!

EVENT: Winnipeg Franchise Expo

Join me at the Winnipeg Franchise Expo on Saturday, March 25th for Don’t Forget the Numbers: What Non-Financial Leaders Need to Know

Many companies are led by people with strong technical or service backgrounds and limited finance knowledge; this can diminish the results that leaders work so hard to generate, such as financing, growth, and profitability.  There are many financial literacy resources available on a personal level; however, the focus on business is really just emerging.  Unlike traditional accounting education that is too complex or difficult to implement, this seminar brings a plain language approach to accounting and financial management.  Focusing on the key areas that leaders need to understand, topics include how accounting “works”, financial statements, improving results, budgeting, forecasting, cash flow, and accounting roles and qualifications.  Session participants will learn:

  • How the accounting function “works”, in simple terms, as well as practical approaches that can be used to improve financial performance
  • Tips for identifying the right team members, by understanding the various roles and qualifications in an accounting department
  • Tips for avoiding the costly mistakes that leaders make, when it comes to seeking financing and capital, due to a lack of financial knowledge.

Details and registration are located here

EVENT: The Canadian Golf Course Management Conference

Join me at The Canadian Golf Course Management Conference February 27th to March 3rd, 2017 in Victoria, BC, hosted by the Canadian Golf Superintendents Association.  I am one of the educational speakers and will be presenting Green is the New Black: Better Budgeting and Financial Outcomes

Many organizations have people with strong technical or service backgrounds, but limited finance knowledge.  This can present challenges, when finance related tasks that are part of managing any organization, such as budgeting, monitoring, and improving financial performance, are undertaken.  Leaders and their teams have an opportunity to increase their financial knowledge to make their work easier and improve results, for the benefit of all involved.

This session will provide a plain language understanding of how the budgeting, forecasting, and financial analysis processes “work”, which can then be utilized to improve performance.  Having this skillset can set individuals apart from their peer group, in terms of both ability and career advancement.

Details about the conference and how to register are located here  See you at The Canadian!

EVENT: CVCA Insights, Data Release Roadshow (Apr 6th, Halifax)

Pleased to be co-sponsoring this event with innovacorp!

Join us for a morning of networking to mark another great year in the private capital industry.  The CVCA‘s Chief Executive Officer, Mike Woollatt, will discuss the 2015 Market Overview, including transaction and fundraising data, most active Venture Capital and Private Equity investors, top firms, rising investment sectors, and other insights.

Registration is required by March 30, 2016 and seating is limited.  Reserve your place today!

Speaking Tour, Day 4

DAW traveled to Toronto for the fourth and final stop on the Fall, 2015 speaking tour.  We were greeted by sunny, warm weather and an enthusiastic group; a great way to end our tour.  The mix of participants in the room, the services they provide, and their client experiences always make the sessions interesting and unique.  Recognizing that a real opportunity exists to build a growing client base for the long term is an exciting prospect!

Key thing to think about for Day 4: It’s been raised on every stop of this tour that some clients tend to fall into the same difficulties time and time again; why is this the case?  Much of what needs to be learned represents a mind shift, a new way of thinking, and although these concepts might be understandable, they can be very difficult to put into practice.  This is just one reason why advisors have an important role to play in supporting and coaching their clients to meet and beat the challenges they face.

Thanks everyone who came out to see us, participated, and stopped by to share experiences and tell us that they enjoyed the day.  It means the world to us!

Speaking Tour, Day 3

Our tour travelled to Calgary for the third day of the Distinguished Advisor Family Business and Yearend Tax Planning Workshop  Another great group, with lots of interesting questions and experiences.  It’s always a privilege when advisors share their experiences, with the goal of identifying how and where they can better help their clients.

Key thing to think about for Day 3:  Identifying the right role for a business leader to take on as a company grows is critical, as time is a precious resource that needs to be channeled effectively.  Advisors can play a key role in helping their clients understand where they fit best, setting the stage for bringing in the right resources to build growth capacity.  Too often, clients make the wrong choice, resulting in costly setbacks for the company.

Thanks, Calgary, for the participation and hospitality. Next stop: Winnipeg (to take in some Halloween festivities!), and then on to Toronto!

Speaking Tour, Day 2

The second day of the Distinguished Advisor Family Business and Year End Tax Planning Workshop was in Vancouver; thanks to everyone who participated!  I’m always interested to hear the questions that are raised, as well as the experiences that advisors have with their clients.  This active, in the field interaction helps to keep my presentations practical and real, as I believe that this experience puts advisors in the best position to help others.

Key thing to think about for Day 2: Investor ready business planning isn’t just for start up and early stage companies; it is also extremely important for growth stage businesses, as well as those that are considering succession. As I’ve raised on every stop of this tour, the vast majority of business plans I’ve seen in my career are not investor ready (most are nowhere near ready!), and this is a significant problem for those seeking capital.  I’ve developed an approach based on my years in the venture capital industry, so if you’re going to invest the time to develop a business plan, do it the investor ready way!

Thanks to the Vancouver Club for their hospitality.  Up next: Calgary

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