Posts Tagged ‘insights’

Measuring and Maximizing the Value of Your Firm: Insights from Joel Stern, Chairman and CEO of Stern Value Management, on Critical Mass Radio Show

December 15th, 2017 by Richard (Ric) Franzi, MBA

As firms and businesses grow, making sure to maximize the value within is an important factor. Stern Value Management helps clients develop implementations and programs designed to maximize the value of the organization. Rather than developing from the top down, Stern Value Management believes that all employees have something to offer, regardless of their status. Chairman and CEO Joel Stern joined us to discuss how you can maximize the value of your business/firm. Here are three takeaways from our time with Joel Stern on Critical Mass Radio Show:

1. Look at your firm’s performance from a new angle. While on the show, Joel Stern discussed EVA ­- Economic Value Added ­- a formula developed by his company to measure a company’s performance and value creation, as well as show management how to prioritize on new investments. According to Stern Value Management’s website, “EVA measures the wealth a company creates (or destroys) each year. It is a company’s after-­tax profit from operations minus a charge for the cost of all capital employed to produce those profits – not just the cost of debt, but the cost of equity as well.”

2. Size variables are not value variables. When it comes to your team, value does not necessarily correlate with the number of individuals working for your company. It is important to ensure that your team members are providing value, as demonstrated by return on investment. Actively choose value over size when it comes to your team, and create incentives that are based on improvements and added value.

3. View your team members as partners in creating value, not simply employees. Joel discussed his belief that every person has entrepreneurial energies, and that the ultimate goal should be for all team members to release those energies constructively. By doing so, team members will add value to your firm, ­regardless of their position in the company, acting as partners who are invested in the business, rather than just employees.

Listen to our full interview with Joel Stern here:

http://podcast.criticalmassforbusiness.com/e/episode-1057-critical-mass-radio-show-december-12-2017-joel-stern/

Unleash Your Expertise: Insights from Mitchell Levy of AHAthat on Critical Mass Radio Show

November 3rd, 2017 by Richard (Ric) Franzi, MBA

Having compelling content, or that one eye-­catching line, is crucial for business leaders to attract consumers. Mitchell Levy and his team at AHAthat make it easy for companies to easily create that “Aha” moment. He joined us to share how his expertise is turning executives into recognized thought leaders. Here are three takeaways from our time with Mitchell Levy on Critical Mass Radio Show:

1. Create an asset and market it effectively. Writing a book is a strategic way for a business/thought leader to demonstrate expertise in a certain area. However, simply publishing the book is not enough. Don’t spend all your time creating an asset without taking the time to use it to your advantage through marketing efforts. Focus on gaining credibility in the eyes of your prospects by identifying their pain points and connecting with them by effectively marketing your content. We live in a second soundbite economy. Make your message count by strategically communicating it to your prospects.

2. We all have expertise inside of us. Life is about time and money, so invest what you can in finding and sharing your expertise with your target audience. We don’t buy from nameless, faceless companies; we buy from individuals who represent a brand. Work to find your AHA messages ­ the ideas that differentiate you as a thought leader and define your brand ­ and take the time to share them with your key audiences. Pull out the genius inside of you and share it.

3. Business is all about trust. In order to develop a positive brand image for your company, it is essential to build trust with your consumers/clients in who you are and what your company is all about. Trust is generated by vulnerability and integrity. If your company is not a good fit for a client or customer, be honest and recommend an alternative. It is also important to trust your employees and allow them to explore what the company brand means to them. Let your team have their own brand an approach. When happy employees share who they are and what they do with their networks, their community will respond, which will result in increased brand awareness.

Listen to our full interview with Mitchell Levy here:

http://podcast.criticalmassforbusiness.com/e/episode-1047-critical-mass-radio-show-october-31-2017-mitchell-levy/

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