the end game » strategic planning

“Hey, look, a quiz!” – your IC

Michael Oleksak — Mon, 24 Jan 2011 00:28:10 +0000

Among the opportunities on the Internet are quick polls and quizzes. So of course, we felt we just had to have aquiz to coincide with our new book “Intangible Capital, Putting Knowledge to Work in the 21st Century Organization“.

Creating the quiz actually turned out to be harder than you would think, but we finally have a simple (we hope) and free (for sure) tool that can be used to determine your level of proficiency with intangible capital. The idea is to introduce you to the basics of what it takes to make the most of your intangible capital, improve the value of your business and tell a more complete story in order to raise debt or equity.

Why bother? Well, today 80% of the value of the average company is intangible. And it’s painfully clear that U.S. companies are not making most of their intangible capital. This means that they are sitting on a pool of valuable, but under-used, knowledge that could be put to work for future innovation.

If you are a C-level executive of a company, or if you’d like to be one but don’t know enough about intangible capital to get there, take this simple 22-question IC.IQ quiz. It’s actually fun and shouldn’t take more than 5 minutes. You can print out the results page after you have taken it and learn how well-prepared you, and your company, are to survive and (hopefully) thrive in the coming decade.

Exit Planning Exchange – Boston/Gesmer 3-part series

Michael Oleksak — Thu, 26 Aug 2010 14:33:19 +0000

The Exit Planning Exchange – Boston chapter will hold a 3-part breakfast series hosted by corporate partners in their offices entitled: Critical Issues for Business Success from Formation to Exit

Wednesday, September 8, 2010 – Gesmer Updegrove LLP, 40 Broad Street, Boston, MA
Thursday, October 7, 2010 – MFA – Moody, Famiglietti & Andronico, One Highwood Drive, Tewksbury, MA
Thursday, November 4, 2010 – Webster Bank, 100 Franklin Street, Boston, MA

Getting Ready to Sell in 2012+

Michael Oleksak — Wed, 12 May 2010 20:23:13 +0000

At the March 2010 Exit Planning Exchange (XPX) Summit, the lunchtime keynote speaker was investment banker and author Rob Slee. Rob is something of a visionary. He has intriguing ideas about new business models, insight into the changes that have shaped business today and how our competitive market has become “U.S. against the world”.

In his presentation to XPX, Rob described what he calls the “U.S. Ten Year Transfer Cycle” and explains why this transfer cycle is so important to business owners. Rob points out that in the past three decades (the 80′s, 90′s and whatever we end up calling the first decade of this century), we have experienced a very similar economic pattern that seems to be moving in a ten year cycle. This cycle accounts for our most recent recession that began in 2008 and, hopefully, we seem to slowly be escaping.

This means that the current market is primed for buyers and will remain a ‘buyers’ market’ until 2012. Around that point, financing should flow again from banks to potential buyers, generating higher prices for companies and resulting in more of a seller’s market. Of course there are no guarantees, but assuming this is the case how should business owners prepare?

April 29 XPX breakfast at Babson – role of Board of Directors

Michael Oleksak — Mon, 29 Mar 2010 13:37:28 +0000

Join us on Thursday, April 29 at the Babson Executive Conference Center in Wellesley, MA for a lively session with two veterans of the boards of private companies. Les Charm, who teaches entrepreneurship at Babson College and is a partner at Youngman & Charm, has been working with privately held businesses since 1972 and serves as a professional director. Les made an enlightening presentation at an XPX breakfast in January 2008 -“Will the Owner Really Sell?”. Les will be joined by Larry Stybel, who is currently an Executive in Residence at the Sawyer School at Suffolk University, and is Entrepreneur/CEO of Stybel Peabody Lincolnshire, and co-founder and Vice President of BoardOptions.com. Through BoardOptions, Larry advises clients on filling Board positions, provides Board education, and consults on governance matters. Hollis Chase, of Chase & Associates, will moderate.

Where: Babson Executive Conference Center, Wellesley, MA
Time: 7:15 – 9:00 AM Breakfast will be served.
Investment: XPX Member: $50, Non-Member: $80 (Registrations at the door an additional $15)

Why I Hate New Year’s Resolutions – A Different Approach

Michael Oleksak — Tue, 08 Dec 2009 01:56:47 +0000

Not sure exactly what New Year’s resolution to pick for your business or a client’s business? It certainly isn’t as easy as doing a quick self- inventory and realizing that you are 20 pounds overweight — self-improvement resolutions seem to be easier to spot. Here’s a list of suggestions to consider. This list comes courtesy of Jan B. King, author of Business Plans to Game Plans:

Make sure you have a business plan.

Resolve to continuously promote your business.

Set up action plans for your employees.

Survey everyone. (We love this idea and call it Strategic Conversations)

Make sure you are measuring the important things in your business.

Review your business performance measures.

Make a resolution to celebrate when you’ve accomplished a set goal. You and your team will take pride in achievement and can get started on the next target.

Why I Hate New Year’s Resolutions

Michael Oleksak — Tue, 08 Dec 2009 01:54:21 +0000

It’s December, which means we are fast approaching 2010 and with it, the annual ritual of New Year’s resolutions. Personally speaking, I’m not a big fan of New Years resolutions. Don’t get me wrong, the ideas and motivation behind these resolutions are good. No one ever makes a New Year’s resolution to smoke more cigarettes, gain some weight or get more out of shape – so most resolutions then are to improve one’s self. So, if the motivation behind them is good, why do they seem to go so wrong year after year?

Well, first off, most everyone chooses New Year’s resolutions that significantly alter behavior that the person most likely has had for years, relying solely on their own willpower. Losing weight, quitting smoking, getting in shape or changing their saving habits – all pretty impressive, but very demanding challenges as resolutions go. Do I think people are then aiming too high? Maybe. But I think the real culprit is the fact that many people make New Year’s resolutions without really thinking them through and putting a realistic plan in place to support the necessary behavior changes. In the end, resolutions are dropped, people fail and the entire idea of the New Year’s resolution is disparaged. The concept of New Year’s resolutions is good, but we are made to feel bad if we fall short of our goals.

Most years I don’t make New Year’s resolutions. There is one exception – three years ago, when I first joined the Winchester Highlanders running club. That year I made a resolution to run 75 mornings with the Highlanders (at 5:45 AM on weekday mornings to boot) and run a total of 750 miles that year. I fell short of my goals that year, probably aiming too high, but I increased my mileage significantly over the previous year. So it was a relative success.

No, I don’t have extraordinary willpower that the rest of the world lacks. Instead, I sincerely wanted to do this, my plan fit into my schedule, and there were measurable benchmarks to track my success. I still run (if you saw last month’s Trekking about my marathon you knew that) and finally exceeded the 750 miles this year. It’s a goal I worked up to gradually.

So, as we look to our own or our clients’ businesses, keep in mind that New Year’s resolutions should be realistic and incorporated with a well thought-out plan of action in order to be successful. Mike Oleksak 2009

Scenes from a Wedding – A Different Approach

Michael Oleksak — Tue, 24 Nov 2009 23:35:04 +0000

It’s this common framework of business that makes it possible for an external consultant to come in and add value. When I get involved with a new client, I don’t share their deep knowledge of their market, their product or service, or the people that make it all happen. Just like a wedding planner, I am familiar with the common elements that all businesses must have. And I have seen all the choices, the challenges, the mistakes and the victories that countless teams have made. And the things all of them have to do to be successful.

And it is by coming back to that framework that I can help a company make better decisions. That’s why I usually end up following a similar routine in my coaching of owner/managers of private businesses. We include a short-term focus on cash flow and long-term focus on building value. For the short-term, focusing on the sales pipeline, marketing, employees, operations and cash flow. For the medium and longer term, composition of the customer base, branding, network, employee training, market trends, technology, and promoting the company’s unique differentiators.

It’s been a long slog for business over the past 18-24 months. At this point business owners need to ensure they are ready for an uptick in business. A good consultant can help you build a plan with a sound foundation but specialized for your own company. Many happy returns! Mike Oleksak 2009

Scenes from a Wedding

Michael Oleksak — Tue, 24 Nov 2009 23:31:11 +0000

I’ve reached the age where I’m going more often to weddings of my friends’ children than to my friends’ weddings. A few weeks ago, my family and I attended a wedding in the mountains of western North Carolina. It made me think of the other weddings I have attended in recent years.

Each one had a notable image you remember above all the others. In Cambridge, it was the view of Boston and the game at Fenway Park from the top floor of the high-rise hotel. On Cape Cod, it was the backdrop of the picturesque Nantucket Sound In Maryland, the stately reception hall of a grand mansion turned museum. In North Carolina, it was the bride arriving in a horse drawn carriage in an outdoor setting. In southern Spain, it was the incredible scenery of the mountains and the coming together of two diverse families. Of course, none are as unforgettable to me as the wedding I attended as an exchange student in France where a man from the groom’s family started a wild fight with a man from the bride’s family…

Yet, as different as each of these weddings were in location and theme, they all shared common elements; they all have a ceremony, special clothing for the wedding party, a reception, food, entertainment, guest lists, attendants, family logistics and gift registries. And they all take a lot of planning.

It’s a lot like business. Every business is different. It has a unique offering, a different market, a different set of players and a different culture. But every business has to market, sell, serve its customers and keep the organization running efficiently. And they all take a lot of planning. Mike Oleksak 2009

Severe Summer – A Different Approach

Michael Oleksak — Tue, 24 Nov 2009 22:57:06 +0000

As advocates of Strategic Conversations, we believe it is important to get feedback on the market as well as your business by communicating well with others. In this process for businesses, we encourage an organized program where one person is in charge of contacting key stakeholders – customers, prospects, suppliers, industry experts and employees – to get both a big picture feel and more feedback on your business as well as industry trends.

With everyone worrying about business and putting off vacations in favor of staycations, this summer is a perfect time for individuals to have these conversations, as well and look for new ideas on how to grow their businesses. Whether you are an attorney, consultant, banker, business broker, or financial advisor, the summer represents a great time to re-connect and get fresh information.

How do you go about it? We all have contact lists, whether in our Google or Outlook directory or LinkedIn or a CRM or sales force automation database. Here’s an approach I’ve taken recently:

Review your contact list from A to Z, thinking carefully about each person. If local, is this someone with whom you’d like to re-connect or exchange ideas? In this difficult time, you might be surprised to see how many people are willing to collaborate to help one another to make progress.
Make a Top 20 list of contacts.
Pick up the phone, send an-e-mail, or text these acquaintances you haven’t seen in a while and whose business acumen you respect.
Invite them to meet by asking, “Hey, Betty (or Bob), it’s been a while since we’ve connected. How about grabbing breakfast or a cup of coffee and we can brainstorm about each other’s business? We can talk about what you see in the market and what I’m hearing, and see if we can help one another.” The other person will see it’s not just about getting, but also about giving.
Prepare for the call or meeting. Have an observation or two to share about what you’re seeing in the other’s person’s market, or a general observation about developments – like the impact (or not) of Twitter, which companies are dying, surviving or thriving in the market, or just some good, thought-provoking questions for your coffee mate.

In general, people are more available to meet or talk in the summer because organizations postpone events until September. So don’t underestimate the importance of networking in a down economy. Reach out, brainstorm, and those new revenue-generating ideas are sure to follow. Mike Oleksak 2009

Reading List: Disrupting ClassDisrupting Class by Clay Christensen, Michael Horn and Curtis Johnson

Michael Oleksak — Tue, 24 Nov 2009 22:27:46 +0000

Clay Christensen has a strong body of work around what he calls “disruptive innovation,” that is, innovations that change and/or create entire industries.

In this book, he and his co-authors make the case that the entire field of education will be disrupted by computer-aided learning.

This kind of learning is growing so fast that the authors predict that by 2019, 50% of high school courses will be delivered online. This has huge implications for anyone in the education industry. But it also has implications for our corporations. As learning becomes a lifelong affair, these disruptive learning technologies will be important throughout our society. How are your employees going to learn in the coming years?

To learn more about this book, visit the author’s web site.