Sustainable Business

Considering The Best of Times and the Worst of Times in Business

Considering The Best of Times and the Worst of Times in Business

In trying to make sense of 2020, I can’t help but think of Charles Dickens’ famous first line in A Tale of Two Cities which reads, “It was the best of times, it was the worst of times…”. For most of us, these could be considered the worst of times as humanity has been affected by COVID-19, social unrest, and political division. Would anyone consider this the best of times as well? Call me crazy but in all this imbalance, I believe, lay an opportunity before us – the ability to uncover, recognize and utilize our untapped strengths. When COVID hit, individuals and companies were quickly forced to work, think, manage, hire, market and sell differently. We had to adjust regardless of whether we were ready, willing, or able. As […]

Read More....

What is Your “New Business Normal”?

New Business Normal

Most businesses are now 4 weeks into working remotely and even essential businesses have been impacted by the shutdown. In some way, we all are working under a “new business normal”. On Tuesday, April 14th, Trilogy Partners hosted our 4th Navigating Covid-19 Town Hall call where we had an exchange around some common themes we’ve heard from our network. Thank you to our call participants for sharing how you are handling your “new business normal.” What tools and/or methods are you using to stay in touch with your team? Slack.com – video chat, text chat, create channels & groups of people for internal and external meetings Monday.com Project Management Tool & Communication tool complete with Dashboards & Integrations Vonage: Group chat for company/department. Some companies set up chat rooms for […]

Read More....

What Should You Do with Excess Profits?

What Should You Do with Excess Profits

What should you do with excess profits? It’s a great problem to have but it can also be difficult to navigate. Imagine your business is pushing out excess profits (business owners often dream of such times). What should you do now that you find yourself with a robust bottom line? Here’s 3 Suggestions for What Should You Do with Excess Profits 1. Place one-third aside for your owners or shareholders as a return on their investment. Make sure you include yourself in order to establish personal financial independence and stability. 2. Keep one-third with the company for future investment. Make sure you properly capitalize the business areas that need attention and will produce results. 3. Put the last third into an employee profit sharing pool. Your people are your greatest […]

Read More....

Less IS More: Why Fewer Goals Lead to More Success

Fewer Goals Lead to More Successes

What are your goals for 2020? You may have a long list but setting fewer goals can actually lead to more success. When I joined Trilogy Partners years ago, the company had just started practicing the Entrepreneurial Operating System® (EOS®) and I had no idea what it was. I had to educate myself and delved into Gino Wickman’s book Traction. I became immediately enamored by the simple, clean, and structured operating system. The thought of being accountable for quarterly goals or rocks which is a major part of EOS® was enticing to me as I thrive on actionable items. My inclination was to go full throttle and assign myself as many quarterly rocks as I could handle which I figured was 5-7, no problem. Fast forward 90 Days. Gulp. There […]

Read More....

Getting Stuck on the Flagpole

we’ve always done it this way

Addressing the “But we’ve always done it this way” mentality can be difficult, especially when employees are well trained to follow a specific business process.   One of my favorite movies to watch during the holiday season is “A Christmas Story” about a young boy’s experience growing up in the 1940’s. The most memorable moment of the film for me is when, during recess in the schoolyard, Ralphie & his friends “triple-dog-dare” classmate Flick to stick his tongue on a frozen flagpole. Guess what happens next? Just as Flick realizes that he’s stuck, the recess bell rings. Frantically, Flick calls for help as he sees his cohorts fleeing the yard. Ralphie turns to Flick, shrugs his shoulders, responds in a serious tone, “But the bell rang!” and then trudges back […]

Read More....

Anything for a Buck

Entrepreneur: a person who organizes and operates a business or businesses, taking on greater than normal financial risk. So how does Trilogy Partners help manage potential risk? We help owners fully understand the financial story of their business including the danger of “Anything for a Buck”. It starts with an idea, for a product or service that you can do better than anyone else. This idea will make you more money than you’re earning now PLUS, you make the rules and set your schedule. So, you make the leap. You buy the domain, create a website, and hang out your shingle. You are open for business. The phone rings! It’s a friend who needs X. Now X isn’t exactly what you do but after a brief conversation, you accept the […]

Read More....

Anything for a Buck

Entrepreneur: a person who organizes and operates a business or businesses, taking on greater than normal financial risk. So how does Trilogy Partners help manage potential risk? We help owners fully understand the financial story of their business including the danger of “Anything for a Buck”. It starts with an idea, for a product or service that you can do better than anyone else. This idea will make you more money than you’re earning now PLUS, you make the rules and set your schedule. So, you make the leap. You buy the domain, create a website, and hang out your shingle. You are open for business. The phone rings! It’s a friend who needs X. Now X isn’t exactly what you do but after a brief conversation, you accept the […]

Read More....

A Rosy View of Business

One day many summers ago, the founder of Trilogy Partners, Hal Levenson, brought a bunch of varied colored roses from his garden into our office.  Sitting in a bucket, the unshorn flowers were wild with bits of soil clinging to them.  Instinctively, I grabbed the roses from the bucket and started cleaning them, taking off the thorns, disposing of dead leaves and neatly assembling them into separate vases.  I thought of our team members as I constructed each display.  Who would like the tall vase? Who would appreciate yellow roses instead of red?  Once completed, I distributed each bouquet and after an initial sense of gratitude, I noticed that each team member coveted the arrangement by showcasing it in a perfect spot.  As days passed, I witnessed people filling their […]

Read More....

What’s the “Real” Business Challenge?

What holds a business back? Unfortunately, it’s not uncommon to see even successful companies struggle to grow. When working with Trilogy clients, challenges typically surface in the following categories: Fundamental business issues Culture of the organization Attitude towards change Let’s explore each of these critical areas in more detail: 1. Fundamental business issues can be defined in two categories: Growth: Strategy, Sales/Marketing and Organizational Sustainability: People, Financial and Processes Examine the company and ask the following questions: Is there a clear, concise written strategic plan that is aligned by all members of the team? Are marketing and sales efforts being tracked, measured and getting consistent results? Is there a current and future organizational chart outlining expectations, gaps and opportunities for advancement? Is recruiting, training, onboarding, and compensation putting the right […]

Read More....

School Smarts + Street Smarts = Success

When working with Trilogy clients, I often tell them the story of Mitch and Jack, two high school friends with contrasting personalities.  Mitch was a loner, a straight-A student who always completed the extra credit homework and was essentially the pompous, go-to answer man when the rest of us stared back at Mr. Carmen with dazed expressions. Jack, on the other hand, was a good student who finished his homework during lunch, right before class.  He often showed up a few minutes late, usually detained by friends seeking his brotherly advice. Jack was a very good listener and involved in many school and community activities. Many years after graduation, I saw both men at a high school reunion.  I found it fascinating to learn how their lives had evolved. Mitch […]

Read More....