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Branding Entrepreneurship Strategy

“A Brand Is(n’t Ready to Be) Born”

Fear of success can be a dealbreaker.

Let me set the scene: it’s your second or third call with a Personal Brand Strategist. You have no objections to the specifics of the program, the fee, the promise… in fact, it feels like you’re having the same call that you had last time, when any reservations were addressed.

What is it, then? Everything that comes out of your mouth is positive. This consultant comes highly recommended. You love their work. You even tell them that they’re your guy, or gal, “when the time comes.” But it’s as if each affirmation is tinged with regret.

If you see yourself in this moment—circling the runway, engine running, but never quite taking off—it’s time for some real talk.

Ask yourself (taking a breath before you answer each question):

  • What is actually getting in the way of me pulling the trigger and saying yes?
  • What do I think I gain by hesitating to go forward?
  • Why does mulling it over feel safer than taking action?

Finally,

  • What is the risk I’m taking by engaging with a pro in the creation of my personal Brand?

Fear of success is trickier than fear of failure. It shows up wearing the mask of logic: “I just need more time.” “I’m not 100% sure yet.” But if you dig deeper, you may find that what you’re really unsure of… is how much your life will change when you stop playing small.

It can even be excitement – or what should be excitement – about a positive outcome that presents with a side of apprehension. And which emotion wins the battle makes all the difference.

A brand isn’t something you wait around for—it’s something you decide to build. Not because you’re ready. But because you’re committed.

Only you can decide whether or not to birth this thing. But considering that the thing is you, it’s not hard to see what happens if you don’t.

I build brands that open doors – our clients achieve greater impact, influence, and growth through messaging, brand voice, and brand strategy. If you’re ready to unleash your INCOMPARABLE self in the service of your mission, book your complimentary Personal Brand Audit now. — YES! to owning your spotlight, no epidural required.

Categories
Strategy Taxes Wealth

Why Convertible Debt is on the Rise in 2025 – And Why Your Corporate Structure Matters

Why Convertible Debt is on the Rise in 2025 – And Why Your Corporate Structure Matters

In 2025, businesses are leveraging Convertible Debt more than ever to secure funding without immediate equity dilution. This flexible financing tool is becoming a go-to strategy for startups and growth-stage companies looking to attract investors while maintaining control. But while Convertible Debt offers incredible advantages, one overlooked factor can make or break the deal—your corporate structure and compliance.

The Rise of Convertible Debt

As traditional lending tightens and equity investors become more cautious, Convertible Debt has surged in popularity. It provides businesses with immediate capital without forcing founders to give up ownership prematurely. Investors benefit from a lower-risk opportunity, as their loan can convert into equity if the company succeeds.

However, without the right corporate structure and legal agreements in place, Convertible Debt can turn into a nightmare. Investors want to know their money is protected, and improper structuring could lead to disputes, tax inefficiencies, or even legal battles.

Why Corporate Structure & Compliance Are Critical

Before seeking Convertible Debt, businesses must ensure they have:

✅ A Properly Formed Entity – A well-structured Corporation or LLC provides liability protection, ensures tax efficiency, and reassures investors that the business is built to scale.

✅ Operating Agreements & Compliance Documents – Investors want clarity. Detailed agreements outlining conversion terms, voting rights, and exit strategies prevent conflicts down the road.

✅ Asset Protection Strategies – A business without proper protections is risky. Structuring your assets correctly shields you from unforeseen liabilities and enhances investor confidence.

✅ Tax-Efficient Structuring – The right corporate setup can help minimize tax burdens and maximize profitability, making the business more attractive to potential investors.

Secure Your Future – Get Structured the Right Way

If you’re considering raising capital through Convertible Debt, don’t risk making costly mistakes. Ensure your business is structured correctly and compliant before negotiations begin. At Controllers, Ltd., we help businesses like yours build solid foundations for growth while protecting assets, minimizing taxes, and securing investor confidence.

Schedule a complimentary strategy session today and position your business for success in 2025! Call us at 775-384-8124 to get started. 🚀

Categories
Branding Leadership Strategy

The Influence Shift: The Hidden Gap Keeping You Invisible

Despite your impressive track record, the doors you expected to open may remain stubbornly closed.
It’s not because you lack qualifications — it’s because you lack strategic visibility.

In my work with senior leaders and executives, I see this pattern time and again.
You’ve put in the hard work. You’ve delivered results. You’ve built a stellar reputation — inside your organization.

But outside your organization?
Decision-makers, recruiters, and board nominating committees don’t know you exist.

This is the hidden influence gap.

The Silent Barrier to Your Next Opportunity

Most executives worry about making a good first impression.
But there’s a problem even bigger than that: the missed impression.

The reality is that decision-makers aren’t starting with your name.
They’re searching for keywords — qualifications, specialties, and leadership characteristics relevant to the roles they’re filling.

If your profile isn’t optimized to show up in these searches, you’re invisible.
You don’t make a poor first impression — you make no impression at all.

And even when you do surface in search results, you still face the first impression problem.

Does your profile tell the story of a trusted leader, ready for board service, the C-suite, or strategic advisory roles?
Or does it read like an outdated résumé, listing past roles but offering no insight into your value, voice, or influence?

When these silent signals of credibility and influence are missing, the opportunity goes elsewhere.

Making The Influence Shift

The good news? This is fixable — without spending hours posting random content or chasing engagement.

The shift is simple but powerful:

Move from being present on LinkedIn to being influential on LinkedIn.

This means:

✅ Crafting a profile that positions you as the leader you are
✅ Sending clear, silent signals of influence to those who are searching
✅ Engaging strategically — with purpose, not just presence

When you make this shift, doors open.
You don’t have to chase opportunity — you begin to attract it.

A Personal Invitation

In the coming weeks, I’ll be guiding you step by step through this process in my #littlelinkedinlesson series.

And if you’re ready for a deeper transformation, I’m inviting a select group of leaders into the Founders Group of the Executive Influence Revolution™, where you’ll learn to position yourself for the next level of leadership, opportunity, and influence. Learn more here.

Let’s make your brilliance impossible to ignore.

Categories
Best Practices Growth Strategy

March Momentum: Position Your Business for Success Before Q2

March Momentum: Position Your Business for Success Before Q2

As winter fades and spring approaches, March is the perfect time for business owners to reset, strategize, and maximize their financial opportunities. Whether you’re a seasoned entrepreneur or just getting started, the actions you take now can determine your success for the rest of the year.

 

  1. Tax Season: Last-Minute Moves That Can Save You Thousands

March is crunch time for tax planning. If you’re a business owner, you should be asking yourself:

  • Are you maximizing deductions?
  • Do you have the right business structure in place to minimize taxes?
  • Are you leveraging retirement contributions or reinvesting in your company wisely?

If your answer to any of these questions is “I’m not sure,” it’s time to consult with an expert before tax deadlines hit. A strategic approach could mean the difference between overpaying or keeping more of your hard-earned money.

 

 

  1. Entity Formation: Don’t Wait Until Year-End

Many entrepreneurs wait until the end of the year to form an LLC or Corporation, thinking it will help them save on taxes. However, incorporating early in the year—especially in March—has major advantages:
✅ You start building business credit sooner.
✅ You establish liability protection before potential risks arise.
✅ You unlock tax-saving strategies that benefit you throughout the year, not just in Q4.

Waiting too long could mean missing out on key opportunities, and with IRS and state processing times increasing later in the year, now is the best time to act.

 

  1. Spring Cleaning Your Business Finances

March is a great time to conduct a financial check-up to ensure your business is on track. Consider:
📌 Reviewing and cutting unnecessary expenses.
📌 Ensuring compliance documents, contracts, and filings are up to date.
📌 Setting revenue goals and refining marketing strategies for Q2.

Just like you’d declutter your home in the spring, your business finances should also be in top shape before heading into the second quarter.

 

  1. Planning for Growth: Are You Positioned to Scale?

Are you thinking about expanding your business? Whether that means hiring new employees, launching a new product, or expanding into new markets, now is the time to put those plans in motion. Ask yourself:

  • Do I have the right legal and financial structures in place to support growth?
  • Am I using the right business credit strategies to fund expansion?
  • What risks could arise, and how can I mitigate them with proper asset protection?

Growth isn’t just about revenue—it’s about building a sustainable, well-structured business that can scale efficiently.

 

Final Thought: March is the Month of Action

Spring is the season of new beginnings, and your business deserves a fresh start. Don’t wait until year-end or tax deadlines to make strategic moves. Take action now, build momentum, and set your business up for a profitable and protected future.

If you need expert guidance on entity formation, tax strategies, or business growth, Controllers, Ltd. is here to help. Let’s make March the month that changes everything for your business.

🚀 Book a complimentary strategy session today! Call 775-384-8124 or visit ControllersLtd.com

Would you like any refinements or additions to align more with your goals? 🚀

Categories
Growth Strategy Women In Business

The Visibility Revolution: Why It’s Time For Coaches And Consultants To Step Into The Appreciation And Income Spotlight

The Visibility Revolution: Why It’s Time For Coaches And Consultants To Step Into The Appreciation And Income Spotlight

By Kathleen Caldwell
Founder, C-Suite Network™ Women’s Coaching & Consulting Council™ & Women’s Success Accelerator™
For Too Long, Coaches And Consultants Have Been The Best Kept Secret. It’s Time to Change That.

Executives, business leaders, entrepreneurs and athletes among so many others who achieve high-level success don’t do it alone. Behind every transformation is a trusted coach, consultant, or strategic advisor guiding the way.

Yet, in most public success stories, we only hear about the visionary, not the strategist.

If the coaching and consulting industry wants to elevate itself, we must shift from being “behind-the-scenes” players to recognized, credible authorities.

I have been a professional, credentialed coach and consultant since 1998, long before coaching became mainstream. I attended one of the original International Coach Federation (ICF) conferences in Greenleaf, Florida—during a hurricane. That experience solidified my understanding of just how powerful and resilient the coaching industry is. Over the decades, I have seen firsthand the profound impact that great coaching has on individuals, businesses, and entire industries.

When Coaches And Consultants Remain Anonymous, Our Industry Loses Visibility

When clients acknowledge their trusted advisors, it raises the social proof and perceived value of coaching and consulting. Visibility directly contributes to greater investment from companies, leaders, and executives who recognize coaching as an essential asset.

The result is a stronger, more profitable and valuable coaching and consulting industry.

The world’s top CEOs, athletes, and thought leaders don’t succeed alone. They have trusted advisors, strategists, and mentors behind the scenes. Yet, when success stories are told, we rarely hear about the coach who helped shift the mindset, the consultant who restructured the strategy, or the advisor who helped navigate the pivot.

We need to change the narrative. Success isn’t a solo act—it’s a partnership.

When clients publicly acknowledge their coaches, they raise the perceived value of coaching and consulting for everyone. Visibility transforms careers and businesses alike.

Remaining anonymous in your industry limits your ability to attract premium clients.

Financial sustainability and growth depend on visibility. If potential clients can’t see the impact you’ve had, they’re unlikely to invest at a premium level. To elevate our industry, coaches and consultants must be willing to step into the spotlight and demonstrate their value openly.

It’s hard to shine a bright light in the world if you can’t pay your light bill! The reality is that sustaining a thriving business requires financial success—visibility is a direct pathway to revenue growth.

Encouraging public testimonials and success stories helps clients proudly share their journeys. Coaches and consultants should be visible parts of these narratives, reinforcing the value of strategic guidance and support.

Businesses that publicly recognize their advisors reinforce coaching as an essential investment. It’s not self-promotion; it’s clarifying and affirming the importance of strategic partnerships in business and personal growth. Positioning coaching and consulting as strategic growth tools is critical!

It’s Important To Join Networks That Amplify Your Visibility

Becoming part of a community of recognized experts not only enhances your credibility but elevates our entire industry’s reputation. Visibility grows exponentially when aligned with other top-tier professionals.

The C-Suite Network™ is precisely such a community, bringing together influential executives, business leaders, and industry innovators. By joining the C-Suite Network Women’s Coaching & Consulting Council™, you surround yourself with ambitious women coaches and consultants dedicated to excellence, growth, and collaboration. This powerful network offers you the resources, strategic partnerships, and high-level visibility needed to position yourself as a distinguished expert and thought leader. Together, we champion your success, amplify your voice, and help you confidently step into premium opportunities that elevate your impact and income.

Claim Your Impact: Overcoming the Fear of Visibility

Yet, even within powerful networks, stepping into visibility requires overcoming a common internal barrier. Many coaches hesitate to ask for public acknowledgment because they fear appearing self-promotional. But here’s the truth: If you don’t claim your role in transformation, potential clients won’t see the value in hiring you.

Embracing visibility is about confidently sharing the real-world results of your work—your expertise is too important to stay hidden. When you openly celebrate your contributions, you set the stage for attracting clients who recognize and value your impact. Remember, owning your expertise is not self-serving; it’s service-oriented. Your prospective clients benefit most when they clearly see how your guidance transforms lives, careers, and businesses.

Make a practice of inviting clients to highlight your role in their achievements. Encouraging testimonials, case studies, and social media mentions positions you as a trusted and valuable authority. By embracing visibility, you empower yourself, your clients, and your industry, opening doors to greater success and fulfillment.

Many coaches hesitate to ask for public acknowledgment because they fear appearing self-promotional. But here’s the truth: If you don’t claim your role in transformation, potential clients won’t see the value in hiring you.

Public appreciation drives visibility, builds credibility, and opens doors to higher-value opportunities. When a client publicly acknowledges your role:

  • You build trust with future clients.
  • You reinforce the ROI of coaching and consulting.
  • You position yourself as an authority, differentiating yourself from competitors.

Make public testimonials and success stories (with the appropriate confidentiality releases) standard practice in your business. Encourage clients to tag you in their success stories and share client wins (with permission), showcasing the real transformations coaching creates.

Join a high-caliber network of top-tier coaches. Visibility and credibility increase significantly when you align yourself with recognized experts.

This is precisely why the C-Suite Network Women’s Coaching & Consulting Council is launching “World Appreciate Your Coach Consultant Week” on April 7 – April 12, 2025.

We begin our celebration with a powerful interactive masterclass: “The Visibility Shift: How To Go From Hidden To Highly Sought-After” on Thursday, April 3, 2025 at 1:00 PM ET. Register for this event at: https://tinyurl.com/C-SuiteWCCCApril32025

Learn how C-Suite Network™ and C-Suite Network™ Women’s Coaching & Consulting Council™ can help you become THE Category Of One™. Take action today and contact founder, Kathleen Caldwell at https://tinyurl.com/KathleenCaldwellLinkedIn to discuss membership opportunities.

About Kathleen Caldwell.

Kathleen Caldwell is the founder of C-Suite Network’s Women’s Coaching & Consulting Council™ and the Women’s Success Accelerator™, a highly successful program designed to guide and mentor women coaches, consultants, trusted advisors, experts, and THE Category Of One thought leaders in building six- and seven-figure freedom businesses. Through the power of groups, councils, and corporate coaching offers, she empowers women to expand their impact, influence, and income.

She is also the founder of Caldwell Consulting Group, LLC.™, a business strategy and peak performance consultancy dedicated to helping clients enhance profitability, sales performance, and competitive positioning while driving transformational growth.

For more information, Ms. Caldwell can be reached at https://tinyurl.com/KathleenCaldwellLinkedIn or 773-562-1061.

Copyright © 2025. Caldwell Consulting Group, LLC. All rights reserved.

Categories
Best Practices Management Strategy

Preparing for the Unexpected – The Profit Impact matrix

Congratulations. Your business is stable, you’re making decent money.. it’s going great.
Until it’s not.
A key client leaves. Sales drop off and growth flattens. Your costs go up or your supply chain is disrupted by a trade-war.

Suddenly you have to fill a big hole in your profits.

You have to change something. You have to raise revenue, cut costs – perhaps you need to do both. Almost every business leader and executive team is faced by some variation on this scenario. It’s part of business but the problem can become a whole lot worse if you make the wrong decisions. Cutting costs in the wrong place can happen very easily, particularly if you cut costs in an area that (directly or indirectly) impacts your customers.
Most business leaders take a functional or line item approach to running their business. Their executive team is made up of functional leads who are experts in what they do. Decisions are made with a functional perspective.
The problem with a functional approach is that financial and customer outcomes are achieved through processes that cut across functions. The actions of one function may impact another function “down the line” with less than optimal outcomes to customer or the bottom line.
All businesses need a clear understanding of what I call the “profit impact matrix”. This goes beyond an understanding of the P&L. The profit impact matrix defines desired outcomes (customer and financial), maps the end-to-end processes that deliver those outcomes and identifies the functional touch-points during each process. The profit impact matrix also identifies the key process performance indicators and outputs of each functional engagement with the process.
The profit impact matrix gives business leaders a cross-functional framework for making business decisions that are informed by a clear understanding of impact on outcomes. Understanding how processes work and deliver outcomes gives leaders an opportunity to optimize processes and evaluate functional trade-offs in the context of business and customer outcomes. The profit imact matrix provides a framework for cross-functional understanding and optimal collaboration at every level of the organization.
In summary, the profit impact matrix gives business leaders a new tool to maximize the value of their business .. and a framework against which to evaluate these hard decisions that sometimes need to be made.
Categories
Growth Operations Strategy

Love Your Business: Scaling and Growth Strategies for Long-Term Success

Love Your Business: Scaling and Growth Strategies for Long-Term Success

Your business isn’t just a source of income—it’s a reflection of your passion, dedication, and vision for the future. But just like any great relationship, your business requires care, attention, and strategic nurturing to grow and thrive. This February, take the time to show your business some love with proven scaling and growth strategies that will set you up for long-term success.

1. Strengthen Your Business Foundation

Before scaling, ensure your business structure is solid. If you’re operating as a sole proprietor, consider forming an LLC or Corporation to protect your assets and unlock tax advantages. A strong foundation prevents costly mistakes and gives you the flexibility to expand without unnecessary risks.

2. Automate and Streamline Operations

Growth often comes with increased workload, but that doesn’t mean you have to do everything manually. Implement automation tools for invoicing, customer management, and marketing to free up your time for strategic decision-making. Efficiency is key to sustainable growth.

3. Diversify Revenue Streams

Relying on a single income stream is risky. Explore additional revenue sources such as subscription services, digital products, or consulting. Multiple revenue streams provide stability and open doors to greater profitability.

4. Leverage Business Credit and Funding

Scaling requires capital. Instead of draining personal savings, build business credit to access lines of credit, loans, and funding opportunities. A well-structured business can secure financing at better rates, allowing you to invest in expansion without unnecessary financial strain.

5. Optimize Your Tax Strategy

Tax season isn’t just about filing returns—it’s an opportunity to maximize deductions and keep more of your hard-earned money. Work with professionals to implement tax-saving strategies like choosing the right entity type, leveraging deductions, and structuring your income efficiently.

6. Focus on Customer Experience

Happy customers fuel growth. Prioritize customer service, engage with your audience, and consistently deliver exceptional value. Word-of-mouth referrals and repeat business are powerful growth drivers.

7. Surround Yourself with Experts

Scaling a business isn’t a solo journey. Partner with experts who can guide you in areas like compliance, financial planning, and strategic expansion. At Controllers, Ltd., we help business owners navigate growth while protecting their assets and optimizing tax savings.

Ready to Scale Your Business?

Loving your business means investing in its future. Whether you’re looking to restructure, secure funding, or implement tax-efficient strategies, Controllers, Ltd. is here to help. Schedule a complimentary consultation today by calling 775-384-8124 or visiting https://calendly.com/controllersltd-info. Let’s build a business you love—and one that loves you back!

Categories
Growth Leadership Strategy

“Empires Don’t Crumble—They Fossilize First”

Part II -From The Myth of Permanence

“Empires Don’t Crumble—They Fossilize First”

It never happens all at once.

No company, no institution, no empire collapses in a single catastrophic event. There is no sudden, dramatic implosion. Instead, there is a quiet decay, a slow hardening of what was once adaptable, fluid, alive. Empires don’t fall like glass shattering on the floor. They fossilize—turning to stone, immovable and brittle—until one day, they break under their own weight.

This is the final act of resistance to change during success. It is not violent. It is not dramatic. It is simply the erosion of motion, the slow, patient burial of an organization’s once-thriving instincts beneath layers of comfort and habit.

The Quiet Death of Adaptation

At first, nothing looks wrong. The numbers still shine green. The leadership team still holds strategy meetings, still claims innovation is a priority. There’s a roadmap—one filled with cautious, incremental improvements, refinements of what already exists.

But no one is pushing boundaries anymore. No one is taking risks that feel uncomfortable. Every decision is made with an eye on preservation, not expansion.

This is how fossilization begins: A slow rejection of movement disguised as discipline.

Soon, the company stops attracting its best talent. The ambitious ones—the ones who would have fought for change—see the writing on the wall. They leave, unwilling to be trapped inside a machine that no longer values reinvention. Those who remain are either comfortable with inertia or too tired to fight it.

Then comes the real danger: The customers, the audience, the market that once seemed so loyal, slowly stop paying attention. Not because they hate the brand. Not because they’ve turned against it. But because something newer, sharper, more relevant has captured their curiosity.

And that is how an empire begins its decline—not through scandal or betrayal or sudden catastrophe, but through the soft indifference of the world moving on.

The Warning Signs of Fossilization

There are always warning signs. Always. But whether a leader sees them depends on whether they are willing to look.

  1. You stop scaring yourself.
    Every great move you ever made in the past came with a moment of fear—a sharp inhale before the plunge. When was the last time your company made a move that terrified you? If you can’t remember, you’ve already started to settle.
  2. Your competitors are trying new things, and you’re critiquing them instead of countering them.
    Dismissing new trends doesn’t make them disappear. It just ensures you won’t be part of them.
  3. The conversations in leadership meetings are about sustaining, not disrupting.
    The moment the company’s energy shifts from What’s next? to Let’s protect what we have, the countdown begins.
  4. Your customer base looks exactly the same as it did five years ago.
    A brand that isn’t attracting new eyes is a brand quietly bleeding out.
  5. Your most talented people aren’t excited anymore.
    If your top minds are simply maintaining the status quo, you’re already a museum piece—polished, respected, and fading into history.

The Last Choice: Evolve or Be Excavated

There is no permanence in business. There is no resting place at the top. You are either moving forward or you are waiting to be replaced.

And the hardest truth?

The companies that make it—the ones that stay relevant across generations—aren’t the ones that defend their past. They are the ones that are willing to destroy what they’ve built in order to build something stronger.

Apple killed the iPod to make way for the iPhone. Netflix obliterated its DVD rental business to embrace streaming. Amazon never stopped treating itself like a startup. These are the companies that survive—not because they were safe, but because they refused to fossilize.

So here is the final question, the one that no one wants to ask when the numbers look good, when the applause is still loud, when the empire still stands:

Are you already becoming a relic? Or do you have the courage to break the stone encasing you before it’s too late?

Categories
Biography and History Leadership Strategy

The Myth of Permanence: Success as a Slow-Acting Poison

The Myth of Permanence

Success as a Slow-Acting Poison

Nothing lasts. Not kingdoms, not companies, not golden eras of innovation. But success has a way of making people believe otherwise. It whispers a dangerous lie: We made it. We figured it out. We cracked the code. Just keep doing what we’re doing, and we’ll stay on top.

It’s a lie that has killed more businesses, movements, and leaders than failure ever could. Failure, at least, forces reinvention. Success sedates. It lulls teams into inertia. The product that once electrified the market becomes an expectation. The edge that made you untouchable dulls. You become predictable. Predictability breeds irrelevance.

And then, irrelevance arrives like winter—slow at first, then all at once.

Look at the ghosts of industries past. Blockbuster, a titan with 9,000 stores, laughed off Netflix’s offer to collaborate. Kodak, a pioneer in photography, literally invented the digital camera and then buried it to protect film sales. Nokia, once the king of mobile phones, mocked the iPhone’s lack of buttons. Their common sin? Believing the summit was a place to build, not a place to climb higher from.

But the greater tragedy is not that they failed. It’s that they refused to change while they were winning.

The Fear of Disruption: Cowardice in the Clothes of Stability

There’s another lie that grips organizations in their prime: Change is risky. It isn’t. Not changing is.

But leadership teams don’t frame it that way. Instead, they disguise fear as logic. “We don’t want to alienate our core customers.” “The numbers are strong—why rock the boat?” “Let’s wait and see what the market does before making a move.” What they’re really saying is: We’re afraid to gamble with comfort.

The irony? The most successful companies, the ones that truly last, are led by people who gamble with comfort constantly. Jeff Bezos banned the words, that’s not how we do things here at Amazon. Apple cannibalized its own iPod business with the iPhone because it knew that if it didn’t, someone else would. Tesla didn’t wait for a crisis in the auto industry to disrupt it.

It’s the ones that move when they don’t have to dictate the future. The ones who wait? They spend their final years scrambling to catch up, desperately trying to buy relevance with budgets that no longer impress.

And so we return to you. To your team. To your company. The numbers are good, maybe even great. But the real question is: Are you already dying, just slowly enough not to feel it yet? Is your current strategy akin to “Silently Running a Going Out of Business Sale?”

Stay tuned for Part II of this article appropriately entitled, “Empires Don’t Crumble—They Fossilize First”

Categories
Best Practices Management Strategy

Keeping the Revenue Bucket Full Through Retention

Keeping the Revenue Bucket Full Through Retention

I remember the days when I was a club manager, and the acquisition of new Members was my main priority. Or so I thought it was my number one responsibility. In my world, Members are customers who not only pay for the right to walk in the door, but if you make a mistake, they still come back the next day. In the rest of the world, distraught customers never return but speak ill of you and your organization across town.

Maintaining a full Member Roster is paramount for a club to not only survive but thrive. Focusing on new ones is counter-productive to growth if you are continually having to replace those who quit.

It’s the same in every business, including nonprofits. Growth and sustainability go hand in hand with retention1. Keeping those involved with your organization is paramount to long-term sustainability and capacity building. To think otherwise is naïve.

Naïve is how you could describe me in my early club management days. My knowledge was limited at the time because I looked at the new initiation fees and growth in the dues, but I ignored a simple truth. Keeping those happy who are already contributing to our profitability cost very little, while acquisition was ten times more expensive. Once I got my thinking straight (I pulled my head out of…)and developed a comprehensive Member retention process, the club prospered.

But that was then, this is now. Generating leads and performing online donor acquisition is how business is performed in the digital age. Everyone with a smartphone or computer searches for goods and services online. They can search by brand, item, cost, you name it. What is being said about the company or the brand online on social media? How is XYZ Company doing against its competitors?

These are the types of evaluations going on routinely, and if businesses wish to stay atop their positions on social media, they had better respond to every comment, good or bad.

But nonprofits might be a bit different than the typical small business. Sure, social media is a valuable tool and should be maximized. New interested parties might seek you out after seeing your postings online frequently and consistently. If there are negative reviews posted, it’s not the end of the world. Responding sincerely to every comment can mitigate negative reviews.

The Revenue Bucket

Like the image above, it doesn’t matter how much revenue you bring in, if it is draining out of your business, what’s the point? The holes in your customer retention program need equal attention, lest you run empty. Should your new acquisition revenues not exceed the losses of inefficiency or poor retention, you will not sustain.

We all know that the value of a customer (or donor, patient, or client) far exceeds that of a new acquisition. If a customer remains loyal for an extended period of time, it is easy to calculate Customer LifeTime Value (CLTV). CLTV equals the length of the average donor, times the average dollar contributions over time, minus the cost of acquisition and fulfillment. This is a simplified version of the formula. You can learn quite a bit more here.

Customer Satisfaction

Service is typically the area of focus for a company to ensure the satisfaction of its stakeholders. We also know that leaving it up to only a single department is nowhere near correct. According to Business Insider3, more than 20% of online reviews are fake. While it is hard to control what a disgruntled employee, hacker, or even a real customer might espouse, a solution is far from out of your control.

Everyone on the team should be involved with good customer satisfaction. Of course that is easy to state, it’s not so easy to initiate and control.

Online Reviews and Your Online Presence

In this digital age, customer retention is built by online reviews. Those critiques shape the opinions of researchers as well as referrals from friends. According to Myles Anderson of BrightLocal on the SearchEngineLand Blog, as many as 88% of customers trust online reviews.

Conversely, the same holds. Negative reviews can kill sales, sales momentum, and productivity of a company, eventually wearing down its customer base by having to trim expenses to meet revenues. It’s a downward spiral to the bottom.

Reviews Tied to Individual Performance

Each time an employer is performing an evaluation with an employee, there are chances that the most recent actions influence the report. It’s human nature, almost unavoidable unless there are excellent records of employees interacting with customers, etc.

Now there is. Customer satisfaction reviews, and online surveys that are aligned with the business and those operating it can be tied directly to individual performance. This is a terrific tool by which to evaluate periods when you do not oversee employee actions, but from the customer’s perspective, the review says it all.

 

The Author

David J Dunworth is an international best-selling author, speaker, and direct response marketing, copywriter. He has been a consistent supporter of servant leadership dating back to 1970, having managed Officer’s and Non-Commissioned Officer’s Clubs internationally for eight years.

Dunworth has served on many boards of nonprofits, including Chambers of Commerce, Restaurant Associations, Mental Health Centers, and the current Board of Directors Chair for SynerVision.

 

Keywords: Customer Retention, Loyalty programs, revenue bucket, online reviews

Links:

1 https://se-partners.com/customer-loyalty-problem-solving/

2 https://blog.hubspot.com/service/how-to-calculate-customer-lifetime-value

3 https://www.businessinsider.com/20-percent-of-yelp-reviews-fake-2013-9

4 https://searchengineland.com/88-consumers-trust-online-reviews-much-personal-recommendations-195803