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Last October 2019, a local banker called me with an opportunity and asked if I could meet with a company that had been losing money for a number of years and was in trouble. When I met with the owners of this company I discovered that they had a business consultant working with them trying to make small tweaks and adjustments to their business that was not helping them overcome the losses they were experiencing and the current year had not improved as they had hoped it would.
Instead of making slight tweaks and adjustments to their current business, I informed them that based on the fact that they had progressively loss more and more money every year that tweaks and adjustments were not going to cut it and they were at risk of going out of business. What they needed was to make a sharp right-hand turn and do so immediately or they were going over the cliff to bankruptcy. The path they were on was not sustainable in any way, shape or form.
I strongly recommended, based on my decades of business experience and financial expertise, that if they were serious about getting their business back on track and were willing to do the hard work, I believed that we could turn this business around. They agreed that they couldn’t continue on the path they were on and they were tired of the stress of losing money every year with no light at the end of the tunnel. The owners agreed to have me help them turn their business around into a profitable business going forward.
We immediately took a deep dive into their financials. We focused on creating a marketing plan, a sales plan, a line item expense and COGS analysis, a budget and a weekly fiscal meeting to go over the numbers since the numbers drive everything in the business. Do to the Covid-19 virus there was a significant disruption to an annual event that they were accustomed to hosting, so we had to pivot and go to a virtual marketing plan to maintain the sales momentum.
After one year the results have been amazing.
This has been a successful turnaround project so far and our projections are that this will be the company’s best year ever in last ten years, and we have done it during a pandemic. There are many companies currently struggling thinking that they will be unable to continue to operate and come out on top again. Here is an example of a company that has been able to so and you can as well.
If your business is struggling or if you are not getting the kind of results you think you should be getting, then reach out to me. I am an expert in business growth and success helping my clients to achieve greater success and take their businesses to a new level by increasing top-line revenue and bottom-line profit while enhancing valuation, liquidity, and equity. 503-312-3145
garyfurr@garyfurrconsulting.com
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2020 has been quite a year. Let’s all finish strong and race into 2021 at full speed.
To help you accomplish this, I am sharing a new white paper full of great ideas and strategies. I’m part of an august group of consultants working with small and medium-sized businesses across the globe. We’ve written this white paper for you.
There are 10 short articles dealing with growth, innovation, business continuity, and mindset. All to help you guide your company successfully and profitably into the next quarter, year, and beyond.
This white paper and audio podcast will soon be available on Amazon. You are receiving it in advance with my compliments. If you have clients or colleagues you’d like to share this with, please email me and I will gladly send them a copy.
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Phil Symchych – Phil Symchych is the president and founder of SME Business Wealth Builder Corporation and is based in Canada. For 26 years, he has advised more than 120 privately-held small and medium businesses across 62 industry segments on growth strategies, financing, and succession planning that creates and protects business wealth for shareholders.
Phil consults and coaches business leaders, founders/owners, consultants, and advisors globally. As a CPA and MBA, he possesses the rare combination of detailed financial insight and big picture strategic perspectives. Phil is the author of The Business Wealth Builders.
Art Koch – Arthur Koch has over 20 years of results-oriented business transformation leadership experience gained throughout the United States, Canada, Mexico, South America, and Europe. He has worked with Fortune 500 companies for consumer products, top-tier automotive suppliers, aerospace and defense, electronics, electrical and mechanical, as well as wholesale and distribution.
His expertise is in implementation and application of supply chain solutions for ERPs, forecasting and inventory planning, sales and operations planning, organizational re-engineering, and LEAN/synchronous practices.
Dean Robinson – Throughout his career, Dean has embraced passionately the concept of Family Business. He has worked with many of them and has contributed significantly to their success – be it from good to great in profitable businesses – or from loss to profit in a turnaround situation. His expertise in Financial Management, Strategic Planning, and Business Growth Solutions has enabled many Family Businesses to realize futures for their families.
Dean believes passionately in Family Businesses setting defined and achievable goals for the business and the family – and then working with the owners to help them realize those goals, be held accountable for their own success, and realize their fullest potential. Dean is the author of the recently published, “Crisis of Boredom.”
Oriol López – Oriol López is known as The Proactivist. He is the trusted adviser to business owners and helps them to grow and thrive in their businesses. His process is simple and powerful: a clear definition of strategy and a total orientation to action and continuous improvement.
Oriol is the author of the books “Grow and Thrive” and “The Proactive Entrepreneur” (among others). Oriol is recognized as “One of the most inspiring advisors in the world,” according to the book “The World’s Most Inspiring Accountant.”
Dan Weedin – Dan Weedin is an experienced entrepreneur, leader, and award-winning speaker who has a passion for consulting, coaching and mentoring other entrepreneurs and business professionals. He has the rare ability to translate his success in the insurance industry, public speaking, non-profit world, and athletic coaching into applicable and transferable principles that dramatically improve the effectiveness of those business owners and executives he works with.
Dan’s consulting and coaching has helped drive performance and resilience improvement with countless small and mid-sized companies across the country. Dan focuses his consulting skills to improve protection of property, people, and profits for his clients. His goal is to safeguard the valuation and legacy for his clients. Dan has authored three courses on Business Continuity, Emerging Risks, and Entrepreneurship on LinkedIn Learning.
Gary Furr – Gary Furr is an organizational development consultant with over 40+ years of C-level business experience and an MBA in organizational development.
Gary helps his clients to achieve greater success and take their businesses to a new level by increasing top-line revenue and bottom-line profit while enhancing valuation, liquidity, and equity. He helps his clients make the complex simple, provides direction, creates systems, and manages the numbers.
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Listen as Gary Furr explains that your self-talk may be getting in the way of your future success.
What you will learn in this podcast:
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Listen as Gary Furr discusses the key to success in business is not your talent or skill set.
What you will learn in this podcast:
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Listen to the podcast interview with Chad Barr with the Chad Barr Group whose team works to create global digital empires and Gary Furr with Gary Furr Consulting, as they discuss how to help business owners improve their business to turn complexity into simplicity.
What you will learn in this podcast:
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Having trusted advisors proves to be essential in these times when working through the options for financial aid and planning. Gary Furr, Kevin Clouser, and Richard Glassman explain just how important having skilled advisors can be.
On this podcast, CLOUSER and his guests, Richard Glassman, an executive with a regional west coast-based bank, and Gary Furr, a business advisor, discuss current issues in the business world.
Listen as both guests share their recent experiences with their business owner clients that were affected by the pandemic and how they have adapted and made crucial changes to their operations.
To learn more, check out and subscribe to both Gary Furr’s and Kevin Clouser’s podcasts on iTunes:
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In the second article from the Global SME Advisors team you will learn strategies to navigate your business out of the Covid-19 pandemic.
Business has had a major disruption, even those we thought to be immune to effects of an economic crisis, such as the healthcare industry have been affected. As a business owner, you need to know what you can do to ensure that you maintain a successful business through the pandemic and re-opening to post Covid-19.
Six experts and Certified Global SME Advisors share their thoughts and ideas on how to move forward from where you are currently:
We can allow the recent business disruptions to affect our future or we can take charge of our future success by coming up with a plan to move forward and create the future we want. Success will come to those who are determined to be successful and adopt a positive and purposeful mindset.
Please click here to obtain a free copy of COVID Business Strategies for Small and Medium Enterprises.
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As a former pilot I had to learn to read and understand the instruments on the dashboard of the airplane in order to have a successful flight. It is the same in your business, you need to understand the instruments on your business dashboard in order to have a successful business.
What you will learn in this podcast:
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If a business is doing well or not doing well, it all comes down to leadership. As leaders we must upgrade our leadership skills to learn to become a more effective leader.
What you will learn in this podcast:
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