As a babyprenuer, I was an accomplished micromanager. I coordinated day long retreats and got my entire team fired up toward our annual goals. I would create BIG plans and set BIG goals. The team participated, sort of, but mostly they went along with what I wanted to do. After all, I was the Boss. Our [...]
We are a society obsessed with finding a “good deal”, which is why customers today place such a heavy emphasis on pricing. This leaves the business owner with plenty of questions: What should I charge? What profit will I achieve at $x price? How much is too much? Pricing has traditionally been reliant on a more [...]
Goering Center NewsletterJanuary 15, 2015by: Mackey McNeill He is 62, the first generation. She is 40, the second generation. They are ready to make the transition from Gen 1 to Gen 2. While the challenges are many, varied and complex, the financial issues that arise in this transfer of wealth provide an underpinning of success or [...]
It was the mid 1990’s and I was on the NKY Chamber Executive Committee as the Small Business Chair. Having been in love with business since I was in my 20’s, I was ecstatic to be in this role. I was the young kid in the room and as usual in those days, the only woman. [...]
As business owners, it is so easy to let the business become your life. So much to do, so little time. At least that is what we tell ourselves. For life to be worthwhile, it needs balance, and most business owners I meet have precious little of that in their lives. I think we have to [...]
What is the role of product or service cost in the conversation about price? The truth is cost has little or nothing to do with sales price. The marketplace, that place of competition between buyers and sellers, sets price. The price you can obtain for your product or service is based on perceived value. CEOs tend [...]
Imagine you’re somewhere in South America. It’s swampy, the ground soggy and sloppy, your footing unsure. The air is thick with moisture, and the heat hangs as heavily on you as a water-soaked comforter. You’re alone, with just your senses and a few navigational tools. What’s your next move? Will you take some time to [...]
This tool is for business leaders looking to define their organization's financial goals and build a path to achievement. This is a brand new tool for Mackey Advisors & we would love to hear your feedback on how it can be improved!
1. What are the leading Key Performance Indicators (KPI) in this business? Many CEO’s try to manage their business by only reviewing their P&L. This is a disaster in the making, it would be akin to driving coast to coast looking in the rear view mirror. In this fast paced world, you need to be nimble [...]
We live in a time where information is at our fingertips like never before. The question up for debate is whether access to all of this information is a blessing or a curse. Currently, many business owners spend more time trying to determine what data to measure rather than actually analyzing and acting upon it. Many [...]