GMS Business Consulting No Comments

TACTICAL EXECUTION & MANAGEMENT

TACTICAL EXECUTION & MANAGEMENT– is Part-2 in our 3-Part series for creating an effective and successful Master Action Plan. In our Part-1 post, we addressed the essential starting point and purpose of Strategic Planning. Today’s post addresses the need for Tactical Execution & Management to reach your goals and objectives that were established in your Strategic Planning. As mentioned in our previous post, the three stages of an effective Master Action Plan include:

  • PART-1 – Strategic Planning
  • PART-2 – Tactical Execution & Management
  • PART-3 – Effective Monitoring & Evaluation

PART-2 – TACTICAL EXECUTION & MANAGEMENT:

Tactical Execution & Management is the critical component to achieving the goals and objectives in your Master Action Plan. Without Tactical Execution & Management , your strategic planning becomes just wishful thoughts and dreams. Also, bear in mind, that if Strategic Planning is where successful results begin, then Tactical Execution & Management determines how your results will end…either in success or failure.

So, once you have completed the Strategic Planning phase within your Master Action Plan, and have identified your key goals and objectives, then you need to apply Tactical Execution & Management by:

  • Establishing Action Steps for each Goal
  • Prioritizing the Action Steps for each Goal
  • Assigning responsibility for each Action Step to the person/ team or group to complete.

ESSENTIAL ELEMENTS:

We’ve established that Tactical Execution & Management is essential, and this needs to be approached and implemented in a systematic, disciplined, and practical manner. Below are a few “Essential Elements” to Tactical Execution & Management based on our Best Practices approach:

  1. ACTION STEPS – These need to be identified, documented and prioritized in a sequential order as they need to enable the person/ team/ group to progress from one Action Step to another. If this is not done, then your progress for completion may become delayed, disjointed, and may ultimately result in a failed goal or objective. A most simple yet illustrative example is; that each Action Step must be prioritized in a specific order…just as it would be essential in teaching a child to tie his/her shoe. One mis-aligned step in the process, and the results are clear. Yet when Action Steps are properly identified, documented, prioritized and completed, these result in a progressive process towards achieving your goals and objectives.
  2. DEADLINE/BENCHMARK DATES – All Action Steps must have established deadlines or benchmark dates. Without deadline dates, there is no sense of urgency, commitment, need of completion nor the ability to move forward in a progressive manner to the next Action Step. By establishing and adhering to deadline dates, progress is made, and the next step can be engaged in a logical and methodical manner.
  3. ASSIGNMENT OF RESPONSIBILITY – All Action Steps must be assigned to someone responsible for completing the task. The assignment of an Action Step to an individual places the responsibility for completing a specific task by a certain date. Assigning personal responsibility establishes participation, responsibility and accountability. Assignment of responsibility also provides the evidence of performance in how we gauge and measure an individual’s contribution and value to a group or organization, and is linked to the overall success or failure in achieving the stated goals and objectives.
  4. PRIORITIZATION OF IMPORTANCE – Each Action Step must be prioritized in terms of importance to achieving the stated goal. Prioritization also aids the individual responsible for completing the task by providing scheduling guidance, whether it should be high or low on their list of other tasks they may be accountable for. Given that there could be many Goals and related Action Steps in a Master Action Plan, both must be prioritized in terms of their importance and timeliness of completion in order to achieve the organization’s goals and objectives.
  5. STATUS OF COMPLETION – Each Action Step must be monitored with a status of completion. Designating whether an Action Step is completed (with either a “Yes/No/IP” (In process) status), allows management evaluate and measure their progress. This status benchmark must be used to monitor the progress of the designated individual, team or group as to whether they have been successful in completing the specified and assigned Action Step in a timely manner.

CONCLUSION:

As stated earlier, without Tactical Execution & Management, your Strategic Planning becomes nothing more than an exercise in listing dormant and unfulfilled dreams. We would never want that to happen to you or to any of our clients. That’s why we developed the M.A.P. solution.

The M.A.P. solution that GMS Business Consulting, Inc provides, delivers all you need for Strategic Planning and Tactical Execution & Management for you and your organization, each and every year. M.A.P. is a strategic and tactical Master Action Plan that sits above all your business operating platforms, time and billing platforms, sales & marketing platforms, inventory control platforms, communications platforms, and data storage and recovery platforms. Those are all “COMPONENTS” within your M.A.P. All of those platforms may change, merge, be substituted or disappear each year. Your M.A.P. solution will provide the strategic evaluation and planning along with the tactical execution and management for all facets of our organization, year after year. Our M.A.P. solution helps you to define your vision, how to establish a strategic plan to achieve your vision, and then how to successfully implement and manage the action steps necessary to meet your goals and objectives for your organization. This is your road M.A.P. to your success.

All businesses should have a M.A.P. to guide, direct, execute and monitor its vision and progress. Contact Us if you have any questions or if we can help you to Strategically Plan and Tactically Execute & Manage your business with success and piece of mind.

Our next Post (Part-3), will focus on Effective Monitoring and Evaluation. See you in a couple weeks. Have a successful and blessed week.

GMS BUSINESS CONSULTING, INC. – Provides lawyers/law firms, for-profit & non-profit organizations, and other business professionals with Accounting Services, Business Development Services (M.A.P.), Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

Business During the CV Pandemic

Conducting business during the CV pandemic (COVID-19) will not be business as usual (obviously), but it is not only possible it’s doable! However given the right planning, preparation utilizing technology, and with measured and thoughtful precautions in place, business can proceed forward (and it must!). Most of what we’re presenting below is very basic, yet sometimes we need to revisit some of those basic principles before strategically planning ahead. Many, many business we initially interacted with were not as “up to date” on virtual working conditions nor did they have the appropriate plans in place to work through business interruptions like this current situation. Please understand, we’re not holding ourselves as experts in the coronavirus, however we do have experience and expertise in business operations, planning and optimization. Conducting business during the CV pandemic is possible! Let’s take a brief look at a few basic business interruption recommendations and precautions that might be helpful to you or someone else you may know who needs some guidance:

BUSINESS OPERATIONS:

  1. Business Interruption Plan – The first point of defense and offence is having a Business Interruption Plan (BIP). If you haven’t established and implemented a BIP by now…do so now (we can help you with this). This plan will not only be helpful now, but it will serve you well with ANY business interruption that may come along in the future including: natural disasters/ physical office location interruptions etc. (We include a Business Interruption Plan in our M.A.P. solution). BIP become the command and control center for managing and operating your business during a business interruption. If you don’t have a BIP in place, hopefully the following recommendations will provide some initial guidance and food for thought.
  2. Work Remotely – Minimize the staff necessary to be on your site location. For most service providers, online access to office/client work-product should have already been established through online/cloud access to all apps/data/communication. If that has been implemented, then those not required to be “on-site” should work remotely. For those who must remain on-site (for production purposes and tech. support), make sure to implement protective measures to keep others as safe as possible from infection.
  3. Daily Debriefs – Morning and evening business debriefs hosted by management should focus on essential business operations such as: client service & communication/ supply-chain/service providers/ contracted services status etc. Also, make sure the business leader (President/CEO/Managing Partner etc.) personally hosts a daily debrief with all staff. Staff needs to see/hear status and direction from the person in charge. This can be easily accomplished via ZOOM or other online meeting software etc.
  4. Client Communication – All staff involved in client interaction and work-product responsibilities should coordinate, prioritize and communicate with each designated client. The objective should be to keep clients informed on the status of work production that directly affects them. Clients NEED to hear from their service providers (just as we would like to hear from our contracted service providers) in situations like this. However this should be conducted on a more regular basis than is normally customary! Just a simple text/ email/ video-call/ direct phone call letting clients know you’re thinking of them, and providing them with updates regarding their work-product is very meaningful to them. DO NOT underestimate this! Over the years this has been the #1 complaint of clients with their prior service providers. This simple task can be easily accomplished via the technology tools we have at our fingertips today.
  5. Supply Chain & Service Provider Communication – Management should already have business interruption measures in place (via the Business Interruption Plan), but in case they don’t, calls must take place so that your organization’s staff can be prepared to work with any disruptions that may impact their client’s work product. Once the status and expectations with suppliers/service providers is understood, then any material information that could affect client work-product, should be communicated to the responsible staff and then directly to clients.
  6. Strategic Planning – Use business interruption situations to better understand and address your organizational weaknesses. Then you can effectively begin to strategically plan your next objectives. Host online meetings with management AND staff to brainstorm and strategize how to best resolve current business challenges internally, and how you can help clients do the same. This is a golden opportunity to add value to existing clients and new clients. Become a valued resource to help clients resolve their problems during a business interruption. Not that you need to have all the answers, but that you become a valued “resource” to help them resolve their challenges. You can do this either by providing the solution or by introducing them to other sources that can help resolve their specific challenges or opportunities. Provide value to your clients by becoming a thought leader…a problem solver other than the work you normally provide. Again, conducting business during the CV pandemic is not only possible it is doable!

PRECAUTIONS:

  1. Pre-Screening – Those employees only deemed “necessary” to work on-site during this particular crisis, should be monitored daily for any possible infection as best as possible. If any of the aforementioned on-site staff are not feeling well or have been exposed to others who are ill, they should be required to work remotely…no exceptions.
  2. Office Location Precautions – Implement the basics…mandatory use of hand sanitizers (when available), mandatory frequent hand washing, mandatory use of disposable gloves etc. Again, only those employees deemed critical to business operational support should be working on-site.
  3. Employee Support & Incentives – Consider offering “Additional Paid-Sick-Time-Off” for ALL your employees. If they’re ill or get ill, then they’ll be covered by YOU…their employer! For those fortunate enough to not get ill from COVID-19, then let this “additional” paid sick-time-off be added to their vacation time. Either way, now would be the time to step-up to the plate and let your employees know you care about them and their livelihood. The additional benefit will come back to you in the form of employee retention.

We hope these basics will be of help to you or someone you know and that you can be reassured that conducting business during the CV pandemic is doable! If you would like to discuss your particular situation further please feel free to Contact Us. Be well, stay safe, and may the Lord protect us.

GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms, for-profit & non-profit organizations, and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services. We help business professionals strategically manage and tactically grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically manage and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

THE U.S. NATIONAL DEBT…

Our Shame & Embarrassment.

Mandel Ngan/AFP/Getty Images

The U.S. national debt has become a shame and embarrassment to our country, and is now in excess of $22.2 Trillion.  Never before in the history of this world has any nation piled on so high a debt load as the U.S., and it keeps on growing and growing.  Read this page on the U.S. debt on Wikipedia, and watch this interview with Jim Rickards on the state of our economy, our national debt, and the reality of our financial markets.

The question many people have is, “So what does that mean to me?”  It means your financial future and your children’s financial future are at stake!  The value of the assets we own (with the exception of precious metals…gold/silver etc./and perhaps a few others) will not retain their value in the next economic meltdown.  Right now we are enjoying the “eye of the financial storm.” To the general public, nothing appears to be wrong.  There’s no financial crisis going on (yet), and life seems to be just plugging along just fine.  Is it…really?  If you look at the foundation of our economy, it paints quite a different picture. (Unfortunately, the foundation of the U.S. economy is debt.)  Isn’t this the same perception the public had before each financial crisis including the Dot Com crisis in 2000, and most recent economic collapse back in 2008? 

Back in 2008, our national debt was approximately $8.5 Trillion.  It took nearly 200 years of this country’s history to pile-up $8.5 Trillion in debt.  Now…Nearly 11 years later it has more than DOUBLED, mushrooming to more than $22.2 Trillion.  Still think that’s OK?  Or…Are we just plugging along with our financial and business senses buried in the sand?

Source: Wikipedia

So…Let me ask you a few simple questions:

  1. Do you believe everything is just fine financially in this country?
  2. How will you personally be impacted by this gargantuan mountain of debt?
  3. What are you doing right now to financially prepare your family and your business for the next financial crisis?

As the old saying goes, “Those who ignore history are destined to repeat it.”  We as individuals need to take personal responsibility for ourselves and our financial future, now.  We would recommend that you meet with your trusted financial advisers very soon, and have them explain to you just how they have guided you and have structured your current investment portfolio to protect you in the next financial crisis.  If they don’t include having a significant portion of your portfolio held in precious metals (gold…physical gold, not gold stocks), then in our humble business opinion, your downside is not protected.

As we always tell our readers, “Don’t rely on others (including us!)…Think for yourselves, do your own research on the U.S. National Debt,” then compare it with the guidance from your trusted advisers.  Then make your own decision and accept the consequences and responsibilities from your own choices.

GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services to help business professionals successfully manage and grow their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

Digital Marketing Your Law Practice

Today’s post on Digital Marketing Your Law Practice is not focused on addressing our current clients, rather to the professionals we’ve been in touch with for the past two years.  More specifically, this post is focused on attorneys and business professionals within medium to large law firms… 

To those we’ve been in touch with over the past two years, we know that you…your practice has a digital presence on your firm’s website…obviously…we’ve viewed your web page.

We found you NOT because our internet search led us to you, rather, one of our staff was commissioned to look at all the professionals in your firm.  This took valuable staff time researching and clicking through various links and pages to finally arrive at your web page. That is NOT how prospective clients (outside your firm/direct contacts) seeking the services you provide would likely find you.  It’s an EXTREMELY inefficient manner to find you if someone is seeking an attorney with your expertise.  You deserve better, and we can help your target market, prospective clients more easily find you…  Keep in mind, your direct buyer most likely isn’t conducting the search…  If they haven’t received a direct referral from one of their sources, then the search is being conducted by an associate.  How would they find you amongst the sea of attorneys in your location with your expertise?  Chances are they won’t.  We can help potential clients find you, AND we can help you better promote you/your practice to strategic contacts within your centers of influence.

So long as your firm permits you to independently establish a Digital Marketing (DM) Plan and supporting DM Campaigns for your practice that are compliant with firm policies and lead prospective clients to your specific web page within your firm’s website…then we can help you.  Our team of DM experts can design, develop, implement, manage and monitor laser-focused DM Campaigns focused strictly on you…your practice, your expertise, and your value-proposition to direct your target market to your specific web page within your firm’s website.  The DM Plan and Campaigns our team designs will result in an increased number of relevant, focused target market contacts contacting you, ultimately resulting in new clients for you.  And our support doesn’t stop there!

At GMS Business Consulting, Inc. we provide consulting services to help optimize how you manage, market and grow YOUR specific law practice within your firm through our Digital Marketing Services and Business Development Services.  To learn more about our Digital Marketing Services and our Business Development Services (using M.A.P.), please Contact Us…We would welcome the opportunity to speak with you.

 

GMS BUSINESS CONSULTING, INC. – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow, manage and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

GMS Business Consulting No Comments

HASHGRAPH vs. BLOCKCHAIN

Swirld.com

Hello Everyone!

Today we’re going to share with you a technology that has emerged that in our opinion will replace Blockchain technology.  It’s called Hashgraph.  Listed below are several important interviews / discussions on this new Distributed Ledger Technology (DLT).  We would highly recommend you listen to these and get familiar with this technology, as this is (in our opinion) going to be the new technology platform standard for the foreseeable future.

Over the past few months, we have learned through our research, that Bitcoin is unsustainable in its current platform using blockchain technology.  The experts below can explain the reasons why far better than we can.  So we encourage you to be patient, listen, and learn just as we are doing and will continue to do.  This first informative VIDEO is presented by Dr. Steve Pieczenk (MD and PhD who also  served under 5 U.S. President Administrations in the State Department), articulates quite clearly in  5-6 minutes “why” Bitcoin is not sustainable as a global currency:

This second video is a little lengthy yet very well done, more detailed, and begins with presenting the promises of Bitcoin and blockchain technology.  However, as this experienced investor/researcher discovers in furthering his research, there are serious limitations with Bitcoin and the Blockchain technology platform it’s based on.  Take a listen:

So, you want to know more about Hashgraph?  Below are several discussions and sources to listen to and research.  The founders and “Heavy Hitters” and master minds behind this technology of Hashgraph, are Leemon Baird & Mance Harmon.  Together they formed  SWIRLDS.  Check out their website and interviews available online.

This discussion below is with a group of Swirld’s key, yet few employees in an event in late 2017 hosted by Demetri Kofinas of Hidden Forces.

Below is Leemon Baird, the developer of Hashgraph and Co-Founder of Swirld, talking about this next evolution of technology that will revolutionize cryptocurrencies, the internet and the way we use technology in the world today and in the future.  Take a listen:

Below is another presentation on the Hashgraph technology by Leemon Baird PhD.

We hope you will find this post helpful and insightful.  This technology is extremely powerful with many, many applications and implications on how we are going to exchange, share and manage data and information in the future.  As we always state, do your own research and analysis.  Don’t rely on what we say or present.  We’re simply trying to bring to light information that we find to be of interest and value, and want to share with our clients and readers.

GMS BUSINESS CONSULTING – provides lawyers and business professionals with Accounting Services, Business Development Services, Business Optimization Services and Digital Marketing Services to help business professionals successfully organize, grow and operate their businesses more effectively and efficiently.  We do NOT provide investment advice.  Contact Us  if you are interested in learning more about our services, and in particular about M.A.P.(our 3-phase business development solution), designed to help you strategically focus and tactically grow your business.  We would welcome the opportunity to speak with you.

info@gmsbusinessconsulting.com

707-218-3135

John 14:15

 

GMS Business Consulting 1,283 Comments

Business Succession

???????????????????????

Hello Everyone!  Recently, we met with a few attorneys with small practices, in their late 60’s with no plans of retirement, nor thoughts of business succession.  That’s a concern we have for many business professionals today who know better to plan for events like this, yet they don’t.  Over the years, we’ve seen many business professionals own and operate very successful practices/businesses, however we’re still surprised to see how many have not planned for their business succession.

If there is a younger family member coming into the practice or business, then that is a natural business succession, and the business owner has a whole lot less to concern themselves with.  Conversely, if there is no family member or young associate interested in taking over the practice some day, then that leaves a potentially valuable asset foregone and left behind, and clients that will still need to be served. Read more