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Minding My Own Business Workshop Presentation

This abbreviated (35 minute) presentation of a Minding My Own Business Workshop was presented by our Executive Director, Dirk Dieters, to the Oregon Remodeling Contractors Association on May 22, 2019.  The topics covered are expanded upon during small business owner’s Initial Consulations with TFG Success Partners over a one and one-half day process.  Give us a call for more information.

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We are often asked, “Why should we work with The Fremont Group? What could they do for us?” Here is the answer:

Every business owner “owns” a “system.” It is a system that converts market demand for their goods or services into cash. Our Success Partners have “been there and done that.” Together with you they design and implement an “Operating System” for your business. The Operating System brings structure, stability, and mature management to the business. At a minimum it includes:
• creating standards of required performance and proper reporting in all areas (sales, operations and administration) so that proper and meaningful delegation can take place and employees can be properly held accountable for pre-determined results;
• control of the money including a budget that interfaces with pricing strategy, cash flow projections that bring sanity to AR and AP decisions, and implements proper use of debt and capital so that profit is budgeted and cash retention is accomplished;
• a consistent schedule of reporting/meetings with sales, operations, and finance so that things don’t “slip through the cracks” and the development of a responsible management team to shoulder responsibility;
• and a time management component so that the owner is focusing on what really matters rather than feeling constantly “stressed out” and unable to do his or her job which is really running the company.
Of course, every company is unique with different strengths and weaknesses. The Success Partner first surveys and gets to understand you and your business so that a tailored Action Plan can be developed with the owner. Then an implementation plan is developed so that the pace of change matches the ability of the company to assimilate the improvements and to be assured that it can be budgeted into the company’s cash flow.
But it is a two-way street. To be successful, The Fremont Group can only work with small business owners who are truly committed to change. The process is at its’ best with three types of owners: (1) The stressed owner who knows that his company is underperforming but simply doesn’t have control; (2) the owner who is contemplating transition—either to a family member or employee, prepare the business for sale or just to reduce the amount of time and stress that is now required; or (3) the owner who recognizes that he has not realized his potential and that he or she is not where they thought they should be by now.
Depending upon the desired result, the process can take weeks, months or years. The Fremont Group generally works in scheduled half-week sessions with regular contact and established benchmarks in between on-site work. Your Success Partner becomes an integral member of your advisory board of directors and a person that an owner can talk to, learn from and share their success with. Are you ready? Let’s talk.

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Coronavirus and your business

Every day you have done all you can to be successful and as a result you are the backbone of our economy.  Now we are engaged in an unprecedented challenge.  We will all be affected by this and business will never again be the same.  As you know, our mission is to support you–the small business owner.  Failure is not an option but we are going to be stretched to great lengths to survive.  We have advised all of our clients to do two things:

(1) Revise your cash flow daily–not monthly, not weekly–daily.  You must constantly reevaluate your cash position.
(2) Understand that you are not helping your employees if you go out of business–you must stay in business.  On a daily basis monitor your wage percentage against your daily sales and adjust staffing immediately.  Your employees are your greatest asset but you are not helping them by going out of business.  There needs to be a job for them to return to.

ADDITIONALLY

The Fremont Group is suspending all seminars for the foreseeable future.  As soon as possible we will resume our one-on-one Minding My Own Business Workshops.  The cost of MMOB Workshps will be reduced from $975–to $150.  Workshops will be scheduled with a $25 deposit and if you are unable to pay the balance it will be waived.  They will be started first in Colorado and expanded as possible.  We know that the need for professional help is in great demand but rather than increasing our rates The Fremont Group will be reducing our rates.  Until we can resume our workshops visit our website for additional information.

We can get through this.

Dirk Dieters, Executive Director
The Fremont Group

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2020 Webinar Series on Patreon

Small business owners have risked it all–you are the true hero of this story!  You risked everything for a dream.  You saw in owning your own business the opportunity for an income and a quality of life far beyond that of people working for wages.  As time went by, you may have raised your sights even higher or you may be frustrated in not accomplishing the goals that you had set.  You are at a fork in the road.  One way leads to the accomplishment of those dreams; the other to failure and you have certainly tried and done all you can do.  To paraphrase Steven Covey, “no matter how hard you work you won’t find your destination without the right map.”  Through our webinars and the work of our Success Partners you will see more clearly the “rocks in the road” and achieve the peace of mind that a properly developed map can provide.
The Fremont Group has a six webinar series that follows the SIX RESPONSIBILITIES OF THE SMALL BUSINESS OWNER as taught in the book, “Minding My Own Business” authored by our Executive Director, Dirk Dieters.  They are available to patrons at www.patreon.com/TheFremontGroup but you can view the first one here for NO CHARGE!  Challenge yourself and take 18 minutes to view the youtube video and then give us a call!  303 338 9300!
https://www.patreon.com/posts/2020-mmob-33922889

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Change 2020 For The Better

Expectations are high for the new year.  This year things will change.  But last years’ issues remain—or are growing!  The Fremont Group is a non-profit organization serving owners like you.  You need a plan for 2020 that will bring about your desired changes.  Attend a personal, Minding My Own Business Workshop!  In two hours working with our Success Partner you will receive the answers that you seek—strategies that will avoid failing to accomplish your 2020 goals and make you the hero!

These are personalized, one-on-one workshops and will be the best $399.00 that you will invest this year!

Call now to hold your time slot!   303 338 9300

The 2020 winter workshop schedule:

Medford Oregon                            Saturday            January 25th

Denver Colorado                            Friday                 January 31st

                                                              Tuesday             February 18th

                                                              Saturday            February 22nd

Phoenix Arizona                            Friday                 February 7th

                                                             Saturday            February 8th

Sacramento California               Monday              February 10th

                                                             Tuesday             February 11th

Salt Lake City Utah                       Friday                 February 14th

Las Vegas Nevada                         Saturday            February 15th

Reno Nevada                                  Monday              February 17th

Albuquerque New Mexico         Friday                 February 21st

Troy Michigan                                Friday                 February 28th

Lansing Michigan                         Saturday            February 29th

Hilton Head South Carolina    Wednesday           March 18th

                                                            Thursday              March 19th

 

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The TFG Small Business Leadership Programs—management training for small business owners and their key employees

 

Key Employee Leadership Program

  • WHO
    • Key management employees. Include heads of operations, sales and accounting as a minimum.  Maximum of six persons.  Also requires commitment and input of owner.
  • WHY
    • 87% of business owners feel that their management team performs below their potential.
    • 92% of owners do not trust managers to make decisions.
    • 81% of business owners experience stress that interferes with their quality of life.
    • Program trains key employees to produce improved results. Anticipated improvements should generate financial results well in excess of the investment in the program.
  • WHAT
    • Effective training for key management (other than owners) personnel. The curriculum includes evaluations of the key employee’s current activities; identify and implement process improvements; incorporate systems, procedures and controls for the accomplishment of the owner’s goals; and the accomplishment of “buy-in” by key employees.  Result desired: more effective and productive management team taking upon more and more responsibility.
      • Actions: (Each program is customized)
      • Meet with the owner to review financial statements
      • Establish owner’s goals
      • Individual interviews with key management employees
      • Evaluation of key employees
      • Creation of desired performance standards for each department
      • Tie developed standards to desired company performance—financial results and operational results
      • Retreat with key employees to obtain buy-in for the results utilizing the develo0pment of rational incentives
      • Create a management team for the delegation of decisions while providing the owner with a comfort level in those decisions
      • On-going follow up
    • WHEN
      • This is a one-week program on-site (the final 1-2 days off-site) followed by a two-month weekly follow-up and then completed with a half-week on site.
      • Program may recommend the inclusion of other outside services.
    • INVESTMENT
      • Investment $17,120 for two on-site engagements for a total of 8 days and two months of weekly phone contacts.
        • Terms:
          • Pre-rollout Discount $3,424
          • Net $16,530
          • $9,000 to schedule (funds paid in 2019 create an immediate tax deduction)
          • $7,530 upon completion of the on-site week
          • $295 per month (payable through Patreon) for two months.

 

303 338 9300

 

 

 

 

Small Business Owner Leadership Program

  • WHO
    • Owner (and in many cases some input from owner’s spouse), key management personnel (at least heads of sales, operations, and finance dependent upon the company)
  • WHY
    • 80% of owners have a fear of delegation.
    • 90% of owners have expressed “it is easier to just do it myself.”
    • 94% of small businesses are limited their growth due to their management system.
    • 88% of small businesses either are diminishing the value of their company or creating a business that cannot be sold due to their management system.
    • 71% of small businesses are setting up their successor for failure.
    • Program is designed to reduce the reliance upon the owner, reducing stress and time, allowing for delegation of responsibilities or for the training of a “next generation” of ownership or expansion to additional locations. Tremendous bonus for the owner considering the sale of his company.  Returns should be in excess of the investment.
  • WHAT
    • Effective training for owners who directly manage their company. The curriculum includes evaluation of the owner’s current activities; clear goal-setting for ownership; identify and implement process improvements; incorporate systems, procedures and controls for the accomplishment of the owner’s goals, reducing the company reliance upon the owner, enhancing the value of the company and preparing for succession.
      • Meet with the owner to review financial statements, past results, and owner’s understandings of their use
      • Establish owner’s goals—financial and personal
      • Educating the owner as to the value added through an understanding of their six responsibilities.
      • Individual interviews with key management employees
      • Evaluation of key employees
      • Creation of desired performance standards for each department
      • Tie developed standards to desired company performance—financial results and operational results
      • Retreat with owners and key employees to obtain buy-in for the results utilizing the development of rational incentives
      • On-going follow up
    • WHEN
    • This is a one-week, on-site program followed by six-months of weekly follow up.
    • Program may recommend the inclusion of other outside services.
  • INVESTMENT
    • Investment $11,020 for a total of five days on-site and six months of weekly phone contacts.
      • Pre-rollout Discount 20% $2,204
        • Net $8,816 (Inclusive of ALL travel expenses)
        • Terms:
          • $4,000 to schedule
          • $3,646 upon completion of the on-site week
          • $295 per month (payable through Patreon) for six months.

 

303 338 9300

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Minding My Own Business Workshop Schedule – Fall 2019

Minding My Own Business Workshop Schedule for October-December 2019

Friday October 25th       Sacramento California

Monday October 28th   Portland Oregon

Tuesday October 29th   Medford Oregon

Thursday November 7th  Aurora Colorado

Monday November 11th Rochester Hills Michigan

Tuesday December 10th  Salt Lake City Utah

Wednesday December 11th  Phoenix Arizona

Thursday December 12th  Las Vegas Nevada

Tuesday December 17th  Denver Colorado

About a MMOB Workshop

Call the office for times and exact locations.  Registration ends ten days prior to the workshop date!  303 338 9300

 

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Is TURNOVER putting your business at risk?

Turnover in any business is inevitable.  The average company turns over its’ entire workforce every five years.  In many cases the turnover is an “up-grade” but even in those cases there is an associated cost.  To determine the cost of turnover consider the following:

Lost productivity during the time the position is open;

Recruiting out-of-pocket cost;

Cost of your time in recruiting and training a replacement;

Learning curve of the new employee;

Risk of a bad hire; and

The loss of institutional knowledge.

As discussed in Organizational Structure posts, there are three types of employees—climbers, campers and quitters.  Turnover of quitters is generally a positive as the replacement can’t really be worse!  Turnover of campers and climbers is a risk.

Campers are persons who don’t tie their self-worth from their work, rather they get that from outside work—church, children, volunteering, etc.  They are there for the paycheck.  Not that they don’t do a good job—generally they do, but they don’t do the “extra” that would make them much more valuable.  You need a large base of Campers in order to process the volume of work you need to process and therefore they are valuable but they are not the real profit drivers of the company.  One asset that they do possess is institutional knowledge.  The long-term camper-employee knows how things are done.  They know your customers.  They might not be the best bartender but they know what Joe Customer drinks; know his name; and Joe likes him. They know where things are kept and how to fix things.  Techniques for retaining Campers can have a strong impact upon your results.

Climbers are persons derive their self-worth from their work.  They like to do things well and they produce a disproportionally high percentage of your profit.  Few organizations have more than 15-20% of their workforce that they can classify as a Climber and as they are so valuable turnover in this class of employee can have an extremely negative impact upon your company.  Techniques of retaining Climbers are essential.

More employees are driven away than leave on their own.  Start by not driving your employees away!  What drives away Campers?  HR errors, paycheck errors, failure to implement vacation and personal leave; and to a smaller degree—low pay.  Oddly enough the less a person is paid, the less important money is to them.  Recognition in front of the group is a significant benefit to a Camper.

What drives away Climbers?  Lack of a ladder.  The Climber needs to believe that there is “somewhere to go” within the organization which is why growth is so important.  Growth creates more internal opportunities; lack of growth does not.

There are other retention “devices.”  Benefits such as health and other insurances, retirement can attract more desirable employees and also creates a “barrier to exit” that many Campers and even Climbers cannot overcome.  Pride in the company through internal recognition also reduces turnover as do properly structured incentive programs.

Success Partners at The Fremont Group can help you address these issues by bringing to the table both their personal experience and the experience of other companies and designing programs to address this risk and make you more money.  Give us a call!  303 338 9300