Advisors

November 2, 2018  by

EVENTS: Coming to a City Near You!

Just about to hit the road on my speaking tour, as part of the Knowledge Bureau CE Summits! This series focuses on year end planning for investors and small businesses, designed for advisors who work with these important clients. I’m looking forward to speaking about challenges that family businesses face in two sessions: The Family Business Time Bomb: Transition, Improve, or Wind up? and a case study discussion, Embracing Disruption and Risk in Succession Planning (yes, you can!).

While it’s typical for a family business to be inundated with challenges and change, seldom have so many potential threats been evident: demographic factors, disruption of key industries, dramatic change in the global economy, and uncertain financial times.  It’s no longer sufficient for leaders to focus their efforts primarily on addressing typical “family business” problems.  Doing so puts the very future of the company and the family’s finances at risk and makes successful transition less likely.

Business owners need to take action now, in order to defuse the ticking time bomb that puts the family’s opportunity for future wealth creation at risk.  Advisors can play a key role in this regard, but only if they bring the value and expertise that business leaders are seeking. Key areas of assistance include the ability to:

  • Work with clients to build value;
  • Develop goals and implement strategies, in terms of business modeling, track record, competitive advantage, and other growth related factors; and
  • Initiate transition planning in a manner that addresses the “time bomb” factors that business owners are facing.

In order to get there, professional service providers need to understand the advisory skillset that business leaders are seeking.  Doing so provides the foundation for differentiation in the marketplace, as well as building a robust advisory firm over the long term.  It’s up to you to ensure that your firm doesn’t get left behind.

Join us for this valuable session by registering here.  See you on the road!

in Business & Strategic Planning / Business Transactions / Events / Leadership / Succession Planning 0 comments
July 30, 2018  by

EVENTS: Speaking Tour Announced

Coming to a city near you this November for the Continuing Education (CE) Summits, focusing on year end planning for investors and small businesses.

I have traveled on speaking tours with The Knowledge Bureau for several years and it is always great to meet session attendees who are seeking to gain knowledge and improve their companies.  Those who do so have the opportunity to differentiate themselves within the competitive marketplace (yes, they are in the minority, which only increases the impact).

Year end planning is not only important for advisors, but also for their clients. Taking a proactive approach to stay on top of new developments raises the likelihood of being of a valuable resource to clients, so don’t miss this opportunity.

Stay tuned for future updates, but in the meantime, you can register here. Looking forward to seeing you on the road!

in Accounting & Finance / Business & Strategic Planning / Events 0 comments
May 8, 2018  by

MEDIA FEATURE: Consultants Who Love Consulting

I’m pleased to be featured in the April issue of Consult, a publication of CMC-Canada in the Consultants Who Love Consulting section.

First things first, what is a CMC?  The Certified Management Consultant (CMC) designation is the profession’s only international certification mark, recognized in over 40 countries internationally.  It represents a commitment to the highest standards of consulting and adherence to the ethical standards of the profession.  I have held my CMC designation since 1997 and have found that it separates professional consultants from those who represent themselves as consultants or advisors, perhaps by way of having knowledge in a particular area, but without formal education in terms of the consulting process (yes, there is a consulting process, and utilizing this knowledge makes a significant difference to client engagements).  You can learn more about the CMC designation here.

So, now, here’s a bit more about my personal interest in consulting.

Early in my career, I knew that a “narrow” path of focus wasn’t for me, as I had (and continue to have) an innate curiosity about the holistic workings of a business, in terms of how all of its parts are interconnected.  Like a sports team on their field of play, success isn’t likely without the coordinated effort of all members, working in the same direction.  Too often, organizations seek “quick fixes” in a particular area, such as marketing, and wonder why their efforts are not successful and fail to achieve the desired results.  Simply put, marketing isn’t just about what goes on in the Marketing Department.

I also found myself much more interested in tangible outcomes; action that could be taken to make a company successful, as opposed to just wandering along an undefined path.  The ability to do this is tremendously powerful and separates an advisor such as myself from those who spend their time in more theoretical or long term oriented areas.  There is nothing wrong with these perspectives; they serve a different purpose.

Not surprisingly, I spent almost 10 years as an executive in the fast-paced venture capital industry, where getting things done and generating results were daily priorities.  I believe that bringing this type of experience to client companies can create a competitive edge in the marketplace, BUT, business leaders have to actually want to make it happen.  Doing so isn’t for the faint of heart, as real progress isn’t always easy and the commitment to persevere often takes much more than anticipated.   These leaders, however, know that there isn’t another option, as they are not the type to continue on their existing, less than ideal path, ignoring the obvious signs that charting a new course is needed.

Bottom line, I believe that being in business is all about opportunities, and it’s up to business leaders to make the most of them.  Those who are driven to do so wouldn’t take these steps without sound advice, from those who have “been there”, “done that”, and truly understand the tremendous opportunities and challenges that are at stake.

As a CMC, I wouldn’t have it any other way.  Anything less is, well, less.

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June 2, 2017  by

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

in Business & Strategic Planning / Business Transactions / Events / Leadership / Succession Planning 0 comments
May 31, 2017  by

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

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October 30, 2015  by

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!

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October 29, 2015  by

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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