New Year Business Resolutions Opps I Mean Strategic Planning

The year 2010 promises to offer many new opportunities. While many are making their New Year's "Resoluations", it would be good to work on this year Strategtic Plan. Good questions would be:

• Are the Strategic Goals still viable in this next year's market place?
• Is the SWOT still current or does it need updated?
• Is the Action Plan for this year adequate?
• How can the Return on Equity (ROE) improve?
• Are there new products/services that need added?
• What products/services need dropped?
• Does the business have a competitive advantage?
• Can the business improve its Sustainability goal?
• Does the business have enough cash reserves?

Reviewing the direction of the business is important. It might be a good time to take a deep breath and spend some time working on the Strategic Plan.

Enjoy your planning and Happy New Year!

Judy

Business in Retrench Mode Strategy

Businesses move into a Retrench Mode Strategy for a variety of reasons such as:

1. The Economy makes a shift.
2. The Local market makes a shift.
3. A new competitor enters the market.
4. A competitor makes a significant shift in the market.
5. The supply chain makes a shift.
6. The customer changes buying patterns.
7. The owner(s) has a shift in their personal life.

At these times the business will need to address the issue and establish new goals and objectives.

If your business is facing any of these issues be prepared to move to a "Retrench Mode Strategy" at least for a while.

Judy

A Business Question - Is there a Return on Sustainability? Or simply put – “Is there Profitability in Sustainability?”

The business world is caught up in an economic crisis. The responsibility of maintaining a secure “bottom line” is important. The question that arises for business is – “Is there a Return on Sustainability?” Or simply put – “Is there Profitability in Sustainability?”

I attended an evening lecture on this subject in late July 2009 at City University of Seattle. The author/business consultant, Kevin Wilhelm, discussed his recently published book, “Return on Sustainability, How Business (Companies) Can Increase Profitability & address Climate Change in an Uncertain Economy”. The lecture was riveting.

A little about Kevin Wilhelm, he has become an expert in business and climate change. He holds an MBA from the University of Denver, two Graduate Certificates in Sustainable Business and Entrepreneurship from Bainbridge Graduate Institute. His consulting business, Sustainability Business Consulting, has served Fortune 500 multinationals to start-ups. He is Chair of the Greater Seattle Chamber of Commerce Sustainability Committee. Plus he assisted City University of Seattle in putting their MBA in Sustainability program together. His knowledge base is broad and deep.

The lecture mirrored portions of his book. This makes it easy for you to have the opportunity of learning from him. Let me share why I believe his book is worth the investment of time and money. The book is easy to read. It is factual and to the point. Business concepts, terms and principles are included in the book. The wealth of research is excellent. This makes the book a resource as well. The book is broke down into bite size chapters segmented into three sections not counting the Final Thoughts and reference material.

What I liked was how quickly Wilhelm moves into the “Meat” of the profitability issues of Return on Sustainability (ROS) in Section 1 - Addressing Climate Change and Business Benefits. This includes such topics as:

· Current Charts and Climate Change Information
· Carbon Foot Printing
· Buy-in and Business Language on the subject of Sustainability
· Reveals “How” the ROS process includes Financial, Brand, Sustainability and Ease of Implementation.
· Return on Sustainability (ROS) Score Card.
· Using Activity-Based Costing (ABC).
· Carbon Metrics Ratios – Return on Carbon, Debt-to-Carbon, Carbon-to-Equity (C/E), Emissions per Employee, Carbon-to-Price (C/P).

Section 2 covers Policy Issues; Section 3 includes a range of issues from Energy, Finance, Insurance, Supply Chain Management, Marketing to Green Consumers and Corporate Social Responsibility Reporting. Finally his has a Final Thoughts and excellent Appendixes.

Having taught Budgeting, Finance and Strategic Planning I would put this book as a must purchase for every business!

You can purchase the book in the Empress’s Sustainability Store on the upper right hand column.

1. Click on Empress's Sustainability Store (if it shows Amazon.com you will need to refresh the page until the store appears)
2. Use the drop down menu in Search and select Books
3. Type in the search "Kevin Wilhelm Return on Sustainability". You will find the book is available in both Kindle and Paperback.

If you are interested in a business consultation, contact me.

Enjoy! Judy

P.S. I do write a blog on Sustainability http://thoughtsfromwisdom.blogspot.com/

Return on Sustainability

As businesses work to survive in a harsh economy the question - "Can my business get a Return on Sustainability?" echos in the minds of business managers. I will be going to a program this week that will address this issue. I will report back on my findings!

Judy

The Real Golden Ring of Sustainability - Sustainable Living

It seems the macro picture is full of the buzz on Sustainability. Government, Education and Business are all reaching for the “Golden Ring of Sustainability”. The G8 are putting an emphasis on Global Warming. Universities are offering Sustainability MBAs. Business consultants are mushrooming to help businesses catch the Sustainability Wave.

Questions for Thought

Is Sustainability only a question of Global Warming?
Is Sustainability only a question of how to “Catch the New Sustainability Wave”?
Is Sustainability only a question of how to gain Return on Investment (ROI)?
Is Sustainability only a question of preserving global resources?
Is Sustainability only a question of developing a “Sustainable Supply Chain”?
Is Sustainability only a question of “Sustainable Products”?

Having two MBAs - ROI, “catching the new wave”, preserving global resources, having a “Sustainable Supply Chain” and finding the best “Sustainable Products”, I believe are important business questions. Yet maybe several other important questions need added to the equation.

The Real Golden Ring Questions

Can Sustainability include a “Sustainable Leader”?
Can Sustainability include a “Sustainable Management”?
Can Sustainability include a “Sustainable Work Force”?
Can Sustainability include a “Sustainable Employee”?
Can Sustainability include “Sustainable Living”?

These questions need to be included in the discussion of Sustainability. Saving the world from Global Warming includes saving individuals and families from 24/7 living to have the ability to live “Sustainable Lives” and enjoy “Sustainable Living”!

Judy

Changing Self to "Mirror the Opportunity"

Recently a new TV series began - "Royal Pains". A young Doctor has set his life course on helping those in need. The phrase "those in need" had to be redefined in his life. He went from servicing the "poor" to servicing the "rich".

What I enjoyed in the pilot show was the process. It is so much like ourselves. We have an idea of "how" we want to accomplish our life goals. Then we are faced with not changing the goal but redefining the "how". In the process we face a new paradigm in our lives.

My two sons have faced this change. They both work in IT. One is a Web Master and the other a Software Tester. At first it was the typical IT "Techie" look. They "mirrored the opportunity". They dressed and lived the image - casual clothes. Then they had "new opportunities". These required a traditional business dress. Even though they are not servicing the public, the corporate image was required. My oldest son went through the process several years ago and "mirrors his opportunity". My younger son is going through the process now. He is out purchasing clothes to "mirror the opportunity".

My husband and I have been through the process several times. When moving from the Pacific Northwest to Florida, the image of ourselves changed. We went from the raining weather clothes worn most of the year to "mirroring the opportunity" by wearing bright colored summer style clothing of the sunbelt Miami. The hardest shift for us was the reversal shift, when we had to go back to the raining weather style clothing in our move back to the Pacific Northwest.

Another process happens as we "Mirror the Opportunity". We actually are changed inside as well as outside. It allows us to explore other parts of ourselves. The change can be dramatic or it can be by osmosis. Either way when "Mirroring the Opportunity" a "New You" emerges.

As a Business Professional Enjoy the Chance to "Mirror the Opportunity"!

Judy

All Work and No Sustainable Life Makes Jack and Jill a Dull Boy and Girl

The Sustainable Life takes time and effort. We live in a world that wants us to not only work a double life but live 24/7. A Sustainable Life offers busy times and quiet times. I remind myself when life gets out of balance that it is time to realize what life is really all about - A Sustainable Life. The Sustainable Business is part of the Sustainable Life.

What is a Sustainable Life? That is something I plan to write more about in future blogs.

In Search of the Sustainable Life!

Judy

Balancing the Budget - "Follow the Money"

Today I discovered an article written in 2008 about the economic power shifts in business for 2009. My 2nd Master is in Finance, so this article jumped at me. If I was going to boil it down to something a small business or home could use, I would say "Money Talks", therefore "Follow the Money". Decisions need to be made based on survivability of the small business or home. My suggestion to surviving is "Follow the Money":

1. Look seriously at the new US Government Budget.
2. See where the money will be spent.
3. Consider how you can tap that money.
4. Adjust your business and home revenue stream around those large Rivers of Money.

Oh here is the article from the "Economist" - http://www.economist.com/theworldin/displaystory.cfm?story_id=12494665

Maybe Time to ReBrand Your Business?

Rebranding is something a business might consider in this economic time as this article points out.

businessonmain.msn.com
Source: businessonmain.msn.com
Now more than ever, brands are under siege and customers shun risk by seeking brands they value and trust.This is a sales and marketing article.

Enjoy!

Judy

A Hot Sustainability Business - Organic Gardening

In every economic time it is good to follow the wave of customer's interest. This particular web video from Time Magazine reflects the current shift of some customers. It is worth a couple of quick minutes to see a current trend.

The New Frugality: The Organic Gardener
With sales up 500%, John Dromgoole's "The Natural Gardener" organic nursery is having a very good year -

http://www.time.com/time/video/?bcpid=1670048590&bclid=1342094282&bctid=19853953001

This information can help in several ways:

1. Evaluation of exiting products/services.
2. Selection of products/services.
3. Marketing approaches.

Enjoy! Judy

Time to ask the hard questions! Making “Sustainability of Your Small Business in this Economic Crisis Number 1”

My problem is I was too close to my Mother and Grandmother both of which went through the “Great Depression”. Through the years I have watched as the economic cycles have gone up and down. I remember in the 1970s when it seemed like one day everything was fine and the next day gasoline and toilet paper were scarce. [I am dating myself here.] Recently in this “Economic Crisis” again the economy is making a sudden shift down. Many have never experienced this type of sudden downward economic change. In times like these “Sustainability of Your Small Business” becomes your number 1 goal!

How does this apply to your small business?

My husband and I were watching a rerun documentary on the ripple effect of the economic downturn with the auto industry. The supply chain is facing serious problems. The present business model for most businesses today is built around the “Just-in-Time” (JIT) supply chain process. If the industry takes an economic hit then the supply chain can be put in jeopardy.

Based on this it is important for a small business to look at its supply chain. Good questions to ask would be:

My Small Business -

Where is my small business in the supply chain?

My Supply Chain (Suppliers) -

Who are my suppliers? What is happening to their supply chain? [Remember the ripple effect.] How is their financial condition as a business? Can I depend they will be able to supply me products/services?

My Products/Services and Supplies -

Will I be able to get the supplies and products/services I need to continue in business? Do I need to make additions to my supply chain? Should I use that as an opportunity to find a group of new suppliers? Can I use this as an opportunity to get closer to the manufacture of my products/services?

Customer’s Needs -

What products/services will my customers want in this “Economic Crisis”? Do I need to shift my product/service line to include more basic items that my customers will be purchasing?

Marketing –

Does my current marketing reflect my customer? Does the business need to retool the marketing approach to reach out to the customer in this economic climate?

Time to ask the hard questions!

Judy

Obama Marketing Campaign - Blogs are great! Twitter and Facebook are Hot!

The Obama Marketing Campaign turned the marketing world into a whole new ball game. I was teaching a hybrid International Marketing class for a university in partnership with a university in Mexico. The students were all 20-22 years old. One of the group activities was analyzing a great marketing campaign on the Internet. I began the activity with one question. "What was the greatest marketing campaign of 2008". They all respond quickly – "Obama for President". It took me back that they all had realized that without a hesitation. Mentioning this to a colleague they said, “Yes, they were all in their 20s”. Yes I agreed with them. But yet, I was taken back by the global impact of the marketing campaign. 20 year olds are businesses' "New Customer". I realized then I wanted to capture that approach to marketing.

As a small business there are several successful free sources you can do that mirrors the Obama Marketing Campaign.

1. Look the Obama Home page over. http://www.obama.com/
2. Check out the links of Obama Everywhere.
3. Establish yourself on some of those “hot” sites.
4. Start Blogging.
5. Start a Twittering. http://www.twitter.com/
6. Join FaceBook.
7. Follow the lead of the successful such as:
a. Ellen DeGeneres http://ellen.warnerbros.com/
b. Martha Stewart http://www.marthastewart.com/
8. Be prepared to spend time learning the process. This is not done in one day….I wish!

I am just learning and every day I am bringing my marketing campaign into the 21st century!

This is where you can find me:

My Blogs are:
http://www.empresspublishing.blogspot.com/On A Woman's Song of Power - http://proverbswoman.blogspot.com/On Sustainability - http://thoughtsfromwisdom.blogspot.com/About Business - http://womanofwisdom.blogspot.com/An Author's Thoughts - http://judysramblings.blogspot.com/Tips for Candles, Fragrance, Spa Products - http://illuminatingthehome.blogspot.com/

My Twitter - http://twitter.com/empresspublish
Facebook - Judy Justice

Website:
http://www.empresspublishing.com/

Enter Marketing for the 21st Century!

Judy

Taxes are Good!

Yes, I said Taxes are good. Businesses and individuals are forever grumbling about taxes. Yet, they enjoy the following things that taxes pay for:

1. The highway system I drive on everyday.
2. Protection for me and mine.
3. Keeping the water, air and food I use safe.
4. Maintain a US voice in the world community.
5. See that those that cannot help themselves have help.
6. Help with Education.
7. Help Sustain our wonderful country and do things I never think of that help me and my businesses everyday.

Just taking the contrarian view and counting the good things taxes do!

Judy

Marketing at its Best! Portuguese Water Dogs

Portuguese Water Dogs are Hot! The Obama Presidential family selected a breed that has under 1,000 dogs registered in the United States in 1995 according to the Portuguese Water Dog Club of America's website: http://www.pwdca.org/breed/history.html. The website also points out that the dog's history can probably be traced to 1297. Poodles, Kerry Blue Terriers, and Irish Water Spaniels can probably be traced to the "water dog".

Sustaining a breed like this took great care by owners through the centuries. Sustainability beckons to us from many windows of time. Peaking into this window of time shows that Sustainability involves keeping a line of dogs in tack for centuries. Just like plants that need preserved, dogs add quality to our lives and need preserved.

Marketing a breed requires care as well. I would hope the PWDCA has a marketing plan. The SWOT would be something like this:

Strengths - Quality Breed, Established since 1297.
Weakness - Limited numbers of the product (only 919 registered dogs in United States in 1995), not well known.
Opportunities - The President of the United States is looking for a dog.
Threats - All breeds are hoping to take the prize of being the "President's Dog".

The plan would have included strategies I am sure such as:

• Target Market the Presidential Family.
• Use the Kennedy family's recommendation as a method.
• Promote the Sustainability of the breed (centuries of care in the breed's line).
• Promote the breed's ability to be friendly, family oriented with a masculine and feminine appeal.
• Have the Kennedy family make a gift of the breed to the Obama Family.

Now the breed is internationally known instantly. The costs of the marketing plan was minimum. The results phenomenal!

Small business and families can use a SWOT to market themselves. Maybe you need a Marketing Plan!

Here are some great pictures of the dogs. http://www.pwdca.org/slideshow/

Enjoy!

Judy

Strategic Planning and Income Tax Savings for the Small Business and Home

Strategic Planning in business involves putting into place a plan and strategies for the next 3-5 years. In doing that the business looks at the big picture and asks questions such as:

What is our Mission?
What are our goals?
What new ways can we create a profitable revenue stream?
What should be eliminated that is not profitable to us?
How can we accomplish the goals?
What are our Strengths, Weakness, Opportunities and Threats?
How will the plan be implemented?

This week is "Income Tax Week". The news is humming with tax saving tips. Be sure to Google or search “Tax Savings Tips”. You will find great articles that will help you save money.

If you did not meet the criteria in the last tax year, consider how you can in this current tax year. Saving money includes making sure you qualify for some of the great tax benefits that the government is offering.

Take a “Strategic” view of the situation. Ask yourself, “Where can we as a small business and family save money for this current year on our taxes?” Ask the questions listed above. Then turn the ideas into reality through actions.

Judy

Emergency Cash - The King/Queen Today

The economy we are in for many years did not really encouraged savings for emergencies, except the 72 hour emergency kit. Oh it talked about it some but really it encouraged investments. Savings protects from emergencies while investments offers income for the future. The balance of investment outweighed savings. Now the scale has tipped – emergency money is more important. The business “experts” are trying to not lose their money. Bonds have become important while trying to hedge against the future.

Our whole economy has been built on the "Just-in-Time" (JIT) supply chain business approach. It “saved” money for investment. A business did not have to have money sitting on the shelf in inventory. The home owner did not need to have the “Winter” supply of food in the house.

In other words just run to the store when you need it.

Over time I will be discussing how that impacted the small business and home and their approach to emergency preparedness. Plus I will cover ideas on how the home can be prepared both financially and in inventory. Today I thought I would cover emergency cash. Cash is King/Queen today. We all love it and we all need it.

I remember my sister, who had good investments, decided she would start her own personal savings account for the emergency. She called me after returning from the bank. The interest rate was so low her commented – “I might as well keep it at home under the mattress”.

In the past it was thought a a small business or family should have 90 days (3 months) of emergency money saved. Few were really able to do that. Today I read that might need to be a year’s salary. Living on the “JIT” did not allow for a fast shift to having cash and lots of it available quickly. Small businesses and families have been scrambling just as the "big" businesses to conserve cash quickly.

My daughter-in-law is looking over every single item her family spends money on. Then she is assessing how important it really is. Does the family really need it? Can the costs be trimmed? She also is buying more items in bulk. [I will talk about that approach in another post.] She is trying to squeeze out of their limited income some emergency money.

Finding a safe place for the emergency money is also important. You have several options.

• Bank Account
• Credit Union Account
• Part of Your Investment Portfolio
• Safety Deposit Box
• Precious Metals such as: Silver and Gold
• Safe/Vault at Home

A good idea is to have emergency money in several locations. Remember in the hurricanes we have all seen on TV the cash machines become empty real quick! Each location listed has value. Each location listed could hold part of the emergency money. Remember when keeping cash at the small business or home it is important to own a safe/vault.

Well this is enough for today. I will continue covering the subject overtime.

Keep Conserving Cash!

Judy

Watching the Stock Market

It seems that everyone is watching the stock market. It is like a yoyo - up and down. Fortunately today it is up .... at least for the moment. http://moneycentral.msn.com/detail/stock_quote?Symbol=$INDU

My background is two MBAs as you can tell from the sidebar. As I look at this data, I realize how important it is to look for many streams of revenue (income). I got counting how many revenue streams my husband and I have coming into the home. He has three and I have 4 and just added 5. Here is a blog on one of them - http://www.partylite.biz/sites/judyjustice

How many revenue streams do you have?

Judy

Welcome!

Evertything has a beginning. It is time to begin this blog.

Welcome! Judy