Company Growth

Selective Exposure in Business

Selective Exposure in Business

I recently read an article on Selective Exposure, a theory that refers to an individual’s tendency to favor information which reinforces his/her pre-existing views while avoiding contradictory information.  Before you stop reading because you think I might be referring to our country’s divisive political environment, I assure you that I wouldn’t touch that with a 10-foot pole. Instead, I’m applying this concept to business. Companies come to Trilogy to help them solve their problems. In the initial diagnosis phase, we ask our clients to explain in detail their issues which are often comprised of financial woes, lack of strategy, misalignment, and/or employee challenges. We’re told savory stories about these roadblocks which, for the most part, seem plausible. Only when we dig deeper by reviewing data, asking tough questions, and getting […]

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Time to Make the Donuts – Changing Your Perspective on Creating a Budget

Creating a Budget

At the beginning of every 4th quarter, as I think about the upcoming year’s budget, I’m reminded of the old Dunkin Donuts commercial where the deflated guy woefully says, “Time to make the Donuts”. This is how some business owners feel about creating a budget. Why is creating a budget viewed as such a drag? There are many possibilities. It could be looked upon as a necessary chore; something you are supposed to do. I know as a Visionary, being obliged into any type of process whether it be monthly or annually makes me cringe. It also forces an owner to face the state of his/her business which can be uncomfortable, and for some, may be even more difficult this year. Finally, some business owners just don’t know where to […]

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NOT Just Another Manic Monday with EOS®

NOT Just Another Manic Monday with EOS®

I have the best memories of growing up in the 1980s. The trends (big hair, shoulder pads, leotards with legwarmers), high school football games (Go SPFHS Raiders!), iconic movies (Breakfast Club, Top Gun, Ferris Bueller’s Day Off) and of course, the timeless music (Dancing in the Dark, Livin’ on a Prayer, Don’t Stop Believin’)! One song from the ‘80s that is still popular today is Manic Monday by The Bangles. How many memes are centered around the dreaded Sunday night, the prelude to Manic Monday? And while I often felt that way in the past, I no longer have that sense of dread since I started working at Trilogy Partners. Why not? Because Trilogy practices EOS®, The Entrepreneurial Operating System™, a set of simple concepts and tools that helps our […]

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Determining the Pace of Change in Business

Determining the Pace of Change in Business

Let’s look at determining the pace of change in business. In a recent blog, I introduced the idea of Setting the Pace of Change. There are several factors to consider and when determining the cadence, leadership faces an added challenge. They must balance the realities of the business with the emotional impact that could damage the human resource infrastructure. So how do change leaders push back against ‘status quo’ that holds strong investment and commitment from employees – and corporate leaders? They must make the case that ‘status quo’ is no longer adequate to keep the firm relevant and competitive in its market. “We’ve always done it this way,” has been the last words of many doomed or dying organizations. Communication and transparency allow for a conversation that introduces the […]

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Setting the Pace of Change in Business

Setting the Pace of Change in Business

As entrepreneurs, we know that change is constant. But is it a bad thing? I agree with psychologist Dr. Dennis O’Grady who said, “Change has a bad reputation in our society. But it isn’t all bad – not by any means. In fact, change is necessary in life – to keep us moving, to keep us growing, to keep us interested.” Change that originates within us or within our organization is typically within our control. However, external change might be instigated by a shift in markets, technologies, customer needs, demographics, competitors or even, a global pandemic. These occur outside our control and yet, when we let go of fear, we can often identify opportunities we never considered. No one can deny that since 2000, businesses have experienced radical transformation. My […]

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What Do Your Company Financials Tell You?

What Do Your Company Financials Tell You

Let’s look at how to understand your company financials to better drive growth. There’s been a lot of discussion recently with business owners who are trying to make sense of their financials over the last few months so they can better plan for 2021. I recently spoke with a client about the ‘stuff’ hidden between the lines of his company’s financials. Sometimes the way things look on the outside or on the surface just aren’t what they really are underneath. This is true with your financials especially when delving into the balance sheet. I still contend that the balance sheet is one of the most misunderstood and underused tools in business. Hidden gems can be easily revealed by reviewing it. Here’s a great example. What company would you rather have? […]

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Outsourced Bookkeeping – Taking the Plunge

Outsourced Bookkeeping

I’m often asked by my clients when they should take the plunge and outsource their bookkeeping. Since Outsourced Bookkeeping is a service Trilogy Partners offers, my answer sometimes surprises them. I tell them to do it only when it feels right. There are many advantages to outsourcing bookkeeping such as lowered costs, time savings, maintaining privacy, no training required, better financial reporting, etc. Finding a company that does bookkeeping with controller oversight also provides peace of mind that higher level tasks such tax and audit preparation are done accurately and expeditiously. There are perceived disadvantages too. With good reason, business owners may not want to let a trusted bookkeeping employee go if the role is made redundant. Also, most outsourced bookkeepers are virtual which obviously means no on-site presence. This […]

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Artificial Intelligence – Are You Ready for a Braver New World?

preparing for the rise of Artificial Intelligence in business

Have you spent time thinking about or preparing for the rise of Artificial Intelligence in business? It may sound like the distant future, but the dawn of AI in business is just a few short years away. Change is inevitable. There are many kinds of changes that can transform your business environment – market, economic, political, workforce and ownership transition, just to name a few. The one kind of change that I find fascinating and perhaps a bit terrifying is the development of Artificial Intelligence or AI. Within the near future, autonomous cars will fill the streets, manufacturing jobs will be taken over by AI powered robots, “virtual assistants” will work alongside humans in fields such as healthcare, customer service and education. Heck, I already see a robot named Stuart […]

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Pain Relief in Business: Return on Investment vs Return on No Investment

Return on Investment vs Return on No Investment

There’s lots of talk about Return on Investment but what about your Return on No Investment? Not sure what I mean. Let me explain. In November 2018, I heard that Tony Robbins, the inspirational coach was coming to Newark, NJ for one of his “Unleash the Power Within” weekend seminars. It sounded intriguing so I signed up. The theme of the weekend reflected one of Tony’s famous quotes: “Change happens when the pain of staying the same is greater than the pain of change.” While at the seminar, I started thinking about my approach with clients. I often used Tony’s quote with those who were struggling with financial, strategic or organizational issues. I clearly saw that they were held back by their limiting beliefs and referencing his quote was the […]

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Both Sides of the Coin: Fundamental & Behavioral Disciplines

Fundamental Disciplines & Behavioral Disciplines

In my role as an advisor, I’ve encountered many owners who are frustrated with their company’s lack of growth. Oftentimes, they feel that if only their sales increased, then all would be well. That may be the answer in some cases, but through Trilogy’s deep analysis, we often find that the root cause of their challenges lies in both the Fundamental & Behavioral disciplines of business. Fundamental disciplines are the tangible aspects of your business that make up the day-to-day building blocks consisting of: Operations Management – steps and procedures that are updated and constantly improved to drive quality, efficiency, increase revenue, control costs and mitigate risks Financial Management – reporting and analysis, KPI’s, budgets and forecasts People/Organizational – internal structure made up of employees whose skills and experience align […]

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