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May 2017 Newsletter

How Entrepreneurial Companies Leverage Their Marketing Strategy


By Mike Smiley

Most successful entrepreneurial companies share a handful of key traits. One of them is a clear, focused marketing strategy.
 
Yes, there will be a time when you need to build a website, develop a social media presence or implement an email marketing campaign. But your marketing strategy provides the foundation for creating awareness and preference and then engaging customers and driving action or sales. On a broader level, your marketing strategy also reflects your culture and brand, your services or products, your customer experience and relationships.
 
In our experience, successful entrepreneurial companies develop their marketing strategy by focusing on simple, concise answers to a handful of fundamental questions:    (Read more)
 

Is Succession Complicated and Who Can Help?


By Sue Moore

Years ago, it may have seemed easy to have your children take over your business or to have a smart employee just step up and buy the business. Is it more complicated than that today?

Recently, we attended an all-day Family Business Symposium at Penn State University. Don Moore was the keynote speaker, but the day was filled with other trusted advisors who had great advice on the subject. It was a delight to meet and connect with all the other knowledgeable speakers who are trusted advisors to their clients.

Who are trusted advisors and what can they do to help you through the decisions that need to be made before you step away from the business you have known perhaps all of your life? Succession is one of the hardest decisions ever made by a business owner. You want to leave a proud and profitable legacy to your family, your employees and your community. What is the best way to do that?  (Read more)

Changing the Focus from Succession to Continuation


By Don Moore

Not all business owners are eager to set up a succession plan. Some are reluctant to discuss the inevitable future, despite the wishes of their family, business partners, customers, lawyers and others.

This week, for instance, I spoke with the president of a company that has a 77-year-old owner. The president of the company told me the business remains in day-to-day control of the elderly owner, who has indicated he intends to remain firmly at the helm until he is no longer able. This is his intention, despite the fact that the company has 600 employees and many trusted and talented members of his family work there.

He is not simply being stubborn. Business owners of this caliber literally feel they cannot simply retire and step back from their life's work. Working, achieving and measuring themselves against yesterday's version of themselves is how they live; it is the core of their being. These are the creeds under which people as diverse as Warren Buffet, Roger Penske, Rupert Murdoch, Sumner Redstone, and Sheldon Adelson, to name only a few, live under. (Read more)

Strategic Hiring - What Should Your Organization Be Considering?


By Aaron Phillips

It may sound like a cliché but effective strategic hiring must start with a strategy. Over the last 34 years Decision Associates has worked with hundreds of clients to develop strategic plans and human capital strategies. One of the key tools organizations need to ensure is that strategic hiring is a plan.
 
The evolution of an organization is not unique to your company. For example, in an organization that has $3 million or less in total revenue, the owner is handling the vast majority of hiring and personnel related functions, marketing, sales and finance. As the less-than-$3 million organization approaches $5-10 million and beyond, that same owner can’t continue handling all of these functions or the growth of the organization will be stunted. The organization has evolved and the owner’s responsibilities need to evolve as well. This evolution is typical and all organizations face similar challenges as they transition through the various stages of revenue growth. Strategic hiring must take place for the organization to achieve its potential. 
 
You may be asking yourself – How will I know when to make these strategic hires? What does my plan need to look like? Do I hire the employee before we secure the anticipated growth? The key component to the plan is the organization’s estimated revenue and profitability trajectory over the next 3-5 years. (Read more)


News Clips

EmergyCare, along with the YMCA and several other local organizations, is sponsoring the Lake Erie Cyclefest August 10-13. The annual Tour de West County will be a part of the scenic rides. For more information visit www.eriecyclefest.org. Whether you are an avid or amateur cyclist, this event promises to be a fun weekend!


What's on Your Mind...

Send your comments and/or suggestions for future topics of interest to: SueMoore@DecisionAssociates.net.
In this Issue: News Clips
EmergyCare and others plan Lake Erie CycleFest
 
What our Clients are saying:
"Aaron Phillips does a fantastic job as our HR representative. He gives 110% effort every time we have an HR issue and I greatly appreciate it. I also trust his recommendations for the agency as we work together to build a good team at the NAMI office."
Denise Kolivoski, Executive Director
NAMI of Erie County
Copyright © 2017 Decision Associates, All rights reserved.


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