In order to gain favorable attention and create openings as we call on new prospects and existing clients to expand business, we find it vital to discover the meaningful outcomes that have been attained through the eyes of existing, satisfied customer relationships. To support preparation for this activity, start by contacting (ideally by phone, or face to face) the five best customers you feel are well satisfied in doing business with ________________________________

1.  The goal is to ask for feedback by way of responses to the questions below and write down as much word for word what is said, rather than summarizing.

2.  Do this with people in various levels of responsibility.

3.  This feedback is vital in crafting language that allows us to initially impact what other customers and potential prospects hear. Each of these questions is meant to be a starter question. We want to dig into initial responses as they describe the impact in their business. Each question is designed to focus on their results, not just what they say about us. You may want to write responses on the back of this sheet.

4.  DO NOT SEND THIS TO CLIENTS AND ASK THEM TO COMPLETE IT! It will take away any follow up questions.

​5.  As you accumulate responses, you will see patterns to incorporate into your approach to others. It will broaden your results, allow you to speak much more from client and prospects viewpoint, and impact the number of people with whom meaningful business conversations are possible.
•    Make 5 blank copies to start, and then continue doing with each person you have contact.
•    Put the customer’s name and position title on each sheet.
•    In contacting, ask customers if they would be open to giving some
“feedback” about their business relationship with our firm. 

Typical Situation: Our client needs funding to pay bills on time. They have orders coming in, but are not getting paid on time or “in time” to pay bills. They could also be getting a large order, that may require up front funding to vendors.

When you hear a business owner say:
·        “My cash flow is poor”
·        “I’ve got good customers but they’re paying my invoices slow/beyond terms”
·        “I received a large order but can’t pay my supplier/s”
·        “I’m too new to get bank financing”
·        “My bank won’t provide enough financing to meet my company’s needs.”
 
An Accounts Receivable Consultant provide strategic financing solutions for business to business companies.  Strategies include accounts receivable financing as well as purchase order financing, work-in-process financing and asset based loans.

How they Work The Consultant visits our client and conducts a comprehensive analysis of the client’s situation as to the history of the business, opportunities and challenges, current financial condition and current financing, if any, as well as their financing needs.

Matching Ideas with Resources:

Well, it that that time of year again. Time for some business planning for 2021. I am guessing there are not too many business owners who planned the 2020 pandemic in their business plan. But at least they had a business plan. Here is an outline of a business plan you can use. If you have some trouble, you can ask Tom Gosche, Business Strategist from GLM! tomg@goglm.com and/or 630-675-8971

1. Executive Summary

2. Current Situation

3. Vision

• Mission Statement
• Goals (long range)
• Objectives (short/medium range)

4. Management

5. Product / Service Description

6. Market Analysis

• Customers
• Competition
• Opportunities
• Risks

7. Marketing Strategy

• Personnel
• Facilities / Equipment
• Pricing & Profitability
• Advertising & Promotion
• Public Relations
• Selling Tactics
• Distribution Channels
• Business Relationships

8. Production / Manufacturing Strategy

• Personnel
• Facilities / Equipment
• Intellectual Property
• Regulation / Compliance
• Supply Chain
• Business Relationships

9. Administrative Strategy

• Personnel
• Facilities / Equipment
• Management Information
• Worker Administration & Benefits
• Regulation / Compliance
• Business/Professional Relationships

​10. Financial Information 

• Pro Forma Balance Sheets (for 5 years into the future)
• Pro Forma Income Statement (for 5 years into the future)
• Detailed Budget (for next 12 to 24 months into the future)
• Cash Flow Projection (for next 12 to 24 months into the future)
• Break Even Analysis (show growth steps, if applicable)
• Summary of Existing Resources (people and money)
• Potential Sources of Funding

​Causes to Check Out, With Local Ties

As you may know, I am a networker. I am involved in a few organizations (many of them with events highlighted above). I get to meet some great business people and many of them focus any spare time they have to a cause. I wanted to highlight a few of them today.
 
1. Rotary Club
Rotary's International goal is to rid the world of Polio. Local Clubs, support that cause and even more! I am a member of Rotary Club of Schaumburg/ Hoffman Estates (Meets on Fridays at Noon in Schaumburg.  

2. Walk to End Alzheimer's
I have known Kari-Ann Ryan for many years and in all that time, she has spearheaded a movement to End Alzheimer's. Her life has been affected personally. You can also be added to her email list for all the events she organizes, by emailing her: kari.ann.b.ryan@gmail.com

3. National Association of Parks Foundations
The NAPF's vision is to build effective, active, local park foundations, volunteers and other citizens that support their park systems to enhance the park experience in their communities. These Park Foundations usually provide funding for Park District Activities for people in the community that generally cannot afford them.
 
Please contact my longtime friend,  Donald Ortale, Executive Director of NAPF, to learn more about how you can help. Call him at 630-965-1000 or email dortale@ortaleassociates.com 
 
4. The Business Ledger- 2020 Guide to Business Philanthropy & Social Responsibility
This is a list of notable local nonprofits and charities. 

#GivingTuesday is a global day of giving fueled by the power of social media and collaboration.
 
The following is a summary of a full article at Charity Navigator:
 
A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize deductions.
If the gifts are deductible, the actual cost of the donation is reduced by your tax savings. 

• A contribution to a qualified charity is deductible in the year in which it is paid. 
• Most, but not all, charitable organizations qualify for a charitable contribution deduction.
• You can deduct contributions only if they are made to or for the use of a qualified recipient. 
• An organization could lose its charity status if it devotes a substantial part of its activities to formulating propaganda or otherwise trying to influence legislation. 
• There are limits to how much you can deduct, but they're very high.
• Rules exist for non-cash donations.
• Remember to document.
• Organizations to Which You Can Give and Deduct Your Donation:
  • Churches and other religious organizations;
  • Tax exempt educational organizations;
  • Tax exempt hospitals and certain medical research organizations;
  • A government unit, such as a state or a political subdivision of a state;
  • Publicly supported organizations such as a community chest;
  • Certain private foundations that distribute all contributions they receive to public charities within two-and-a-half months after the end of the foundation's fiscal year;
  • A private operating foundation which pools all of its donations in a common fund;
  • Certain membership organizations that rely on the general public for more than a third of their contributions.

Read Complete Article From Charity Navigator Here

More info from the State Of Illinois: 
​https://www2.illinois.gov/IISNews/22388-State_of_Illinois_COVID-19_Update_-_Monday_November_23.pdf

Typical Situation: Our client has seen an increase in their Contribution Rate Determination (unemployment tax rate) that is mailed to all Illinois employers on or about December 1st every year.  They also have protested their own unemployment claims but have not been successful at getting benefits denied.
 
When you hear a business owner say:
•           “I do not understand why someone was allowed to collect benefits”
•           “I hate dealing with the unemployment office as it is a no win situation”
•           “General: complaints about their unemployment claims “
 
The Consultant educates them on the unemployment laws in Illinois and to help them reduce their state unemployment taxes.
 
How they Work: They protest the claims filed against the employer and represent the employer at all unemployment hearings and go to their locations to do training sessions to educate the employer on how to handle different types of situations.  They will verify all the charges to the employer’s account to make sure they are not being charged more than they should be charged. 
 
You can introduce them:
“It sounds like you may need some help with your unemployment claims against you. I can introduce you to someone that can help. They would be happy to have a telephone consultation to discuss your situation.