​Approaching the halfway point of the year is a great opportunity to reflect on your progress and make adjustments to ensure you achieve your goals. Here's a step-by-step approach to help you:

1. Reflect on your goals: Review the goals you set at the beginning of the year. Assess your progress and identify which goals you've achieved, which ones are in progress, and any that you haven't started yet.
   
2. Celebrate your achievements: Take time to acknowledge and celebrate your accomplishments so far. Recognize the effort you've put in and the milestones you've reached. This will boost your motivation for the rest of the year.
   
3. Assess your current situation: Evaluate where you stand at the halfway point. Consider factors such as your personal life, work, health, and relationships. Determine if anything has changed or if new opportunities have arisen.
   
4. Review and adjust your goals: Based on your assessment, consider if your original goals are still relevant and realistic. Are there any goals you need to modify, add, or remove? Make adjustments that align with your current circumstances and aspirations.
   
5. Break down your goals: Divide your revised goals into smaller, actionable steps. This will make them more manageable and increase your chances of success. Set deadlines for each step to create a sense of urgency.
   
6. Create a plan: Develop a clear plan outlining the actions you need to take to achieve your revised goals. Prioritize your tasks and allocate time for each of them. Consider using productivity tools or techniques like time blocking or creating to-do lists.
   
7. Seek support: If you need assistance or collaboration to achieve your goals, reach out to others. Seek guidance from mentors, collaborate with peers, or delegate tasks when necessary. Surrounding yourself with a supportive network can provide motivation and valuable insights.
   
8. Track your progress: Regularly monitor your progress towards your goals. Set milestones along the way and evaluate your achievements. This will help you stay accountable and make adjustments if needed.
   
9. Stay motivated: Motivation can wane over time, so find ways to stay inspired. Set reminders of your goals, create a vision board, or find an accountability partner. Celebrate small victories and remind yourself of the benefits and rewards awaiting you at the end.
   
10. Practice self-care: As you work towards your goals, don't forget to take care of yourself. Prioritize your physical and mental well-being by getting enough rest, eating nutritious food, exercising, and practicing self-reflection or mindfulness. Taking care of yourself will enhance your productivity and overall happiness.
    

By following these steps, you'll be able to approach the halfway point of the year with clarity, purpose, and a plan to make the most of the remaining months.

Key Performance Indicators (KPIs) play a crucial role in the success of any business. They provide measurable and quantifiable metrics that allow organizations to assess their performance and progress towards their goals. Here are some key reasons why KPIs are important in business:

1. Goal Alignment: KPIs help align business activities with strategic goals. By defining specific and measurable targets, KPIs enable businesses to focus on what truly matters and direct their efforts towards achieving desired outcomes.
   
2. Performance Measurement: KPIs provide a means to measure performance objectively. They allow businesses to track progress, identify areas of improvement, and assess the effectiveness of strategies and initiatives. Without KPIs, it becomes challenging to gauge success or failure accurately.
   
3. Decision Making: KPIs offer valuable insights for informed decision making. By monitoring key metrics, businesses can identify trends, patterns, and potential issues early on. This enables timely adjustments, course corrections, and resource allocation based on data-driven analysis rather than guesswork.
   
4. Accountability and Responsibility: KPIs establish accountability within the organization. By setting clear targets and regularly measuring performance, individuals and teams can be held responsible for their contributions. KPIs promote a culture of ownership, motivation, and continuous improvement.
   
5. Communication and Alignment: KPIs serve as a common language across the organization. They facilitate effective communication, ensuring that everyone understands the organization's objectives and the progress being made towards them. KPIs promote transparency, collaboration, and alignment among different departments and stakeholders.
   
6. Benchmarking and Competition: KPIs allow businesses to benchmark their performance against industry standards and competitors. By comparing their metrics with similar organizations, businesses can identify areas where they are lagging and take proactive measures to improve their competitive position.
   
7. Continuous Improvement: KPIs drive a culture of continuous improvement within an organization. Regular monitoring and analysis of key metrics help identify inefficiencies, bottlenecks, and areas for optimization. KPIs provide a basis for setting targets, implementing changes, and monitoring the impact of improvement efforts.
   
8. Motivation and Recognition: KPIs can be used as motivational tools. By setting challenging yet attainable targets and providing regular feedback on performance, businesses can inspire employees to strive for excellence. Recognition and rewards based on KPI achievements can further enhance employee engagement and satisfaction.
   

In summary, KPIs are essential for effective performance management, strategic decision making, goal alignment, and fostering a culture of accountability and improvement. They enable businesses to stay focused, measure progress, make informed decisions, and drive success in a competitive marketplace.

Here are some personal branding tips that you can consider:

1. Define your personal brand: Start by identifying your unique strengths, skills, and values. Think about what sets you apart from others and what you want to be known for.
   
2. Develop a consistent message: Once you have defined your personal brand, create a clear and concise message that accurately represents you and your brand.
   
3. Create a strong online presence: Use social media platforms like LinkedIn, Twitter, Instagram, and Facebook to build a strong online presence. Make sure your profiles are professional and consistent with your brand message.
   
4. Share valuable content: Share valuable and relevant content that showcases your expertise and adds value to your audience. This could be blog posts, videos, podcasts, or social media posts.
   
5. Network and collaborate: Networking and collaborating with others in your industry can help you build your brand and expand your reach. Attend events, join groups, and connect with others online.
   
6. Be authentic: Authenticity is key to building a strong personal brand. Be true to yourself and your values, and don't try to be someone you're not.
   
7. Continuously improve: Finally, don't be afraid to continuously improve your personal brand. Keep learning, growing, and evolving to stay relevant and meet the needs of your audience.
   
   Tom Gosche is a Business Strategist dedicated to helping business owners be more profitable through customized business and financial strategy. His BRAND System™ is a process of creating and implementing effective brands, business building strategies, financial insight and business transition success. 
   
   Seeing Tom in action quickly impresses upon attendees his skills, knowledge and expertise in a lighthearted, even humorous, presentation. 
   
   Tom is a part of GLM, Inc. as a business consultant and business developer. He has formulated the idea of the BASiC Cycle of working with business owners. BASIC was formed with business owners in mind, by combining growth strategies, business planning and financial review on a regular basis.
   
   
   

Thanks to a slowing economy, SBA loans have been growing in popularity. So much so The Daily Herald had a Featured article about them in the March 19th, 2023 Sunday Business Section.

​www.dailyherald.com/business/20230319/thanks-to-a-slowing-economy-sba-loans-have-been-growing-in-popularity

No matter what, you need to talk with someone, an expert that helps business owners daily! We advise you to talk with one of the contact at the bottom of this Matching Ideas with Resources Blog.

Typical Situation: Our client is looking to expand their business or perhaps make a business acquisition.  They might be looking to purchase equipment, inventory, or real estate.  Maybe they also need working capital to expand.  We are primarily looking to lend to businesses in underserved areas to create quality jobs

When you hear a business owner say: 
• “I would like to expand but I my bank won’t lend the full amount I need”
• “I just got declined for a loan from my bank to buy R/E, equipment, inventory, working capital”
• “I want to buy out my partner (or purchase a business) but can’t get financing”
• “My bank approved the equipment loan but they only gave me a 24 month term, I’m afraid of a payment that large.”

SBA (Small Business Administration) Bankers serve as a trusted banking solution. They Make $1MM-$5MM loans to small businesses.

How they Work: They use Government loan programs, to businesses that meet SBA guidelines. They are  able to do this by treating the building acquisition as simply an extension of their existing business, rather than a new acquisition.  

Matching Ideas with Resources:

​​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

The Daily Herald had an article in Sunday’s Newspaper about the importance of an Accountant or CPA in advising your business. You can imagine that we at GLM agree with this this. Having an outside look at your business and finances is very important to the growth and stability of your business.

About the Author:
Denice Gierach is an attorney, CPA, Northwestern University business master's graduate, and has owned several businesses including in real estate and manufacturing. She is the lead attorney at Gierach Law Firm in the Chicago area. With more than 30 years of experience, she has been a respected and sought-after resource for businesses looking to grow, sell, solve problems, and succeed long term.
Her insights across business areas gives a fuller lens to business issues and solutions, and helps businesses grow and succeed with less time spent on legal issues and other time-consuming problems
 
Here is a link to the Article:
​ https://www.dailyherald.com/business/20221204/the-importance-of-involving-your-cpa-in-your-business
​

We recently met with Wendy Schulz, Preferred Funding Group based in West Dundee. They help to secure the funding you need to start or grow your business with help from their trusted team of Experts! Whether you’re looking to start a new business or looking to grow your business, a personal or business loan from PFG can make your plans into a reality.

Qualify for up to $500,000 today

FUNDING PROGRAMS

• 5 or 7 year Term Loans
• Business Credit Card Program
• Personal Credit Card Program

​TERM LOAN PROGRAM

• Rates range from 5.49%-14.99%
• No minimum length of time in business
• Fixed monthly payment
• No upfront fees
• Full liquidity Immediately
• Funding in 7-15 business days
• (Dependent on strength of personal credit)

REQUIREMENTS

• 680+ Personal Credit scores in all 3 bureaus
• 2 years personal tax returns showing $50,000 or more of taxable income

​BUSINESS CREDIT CARD PROGRAM

• 0% Interest for 6-12 months
• No minimum length of time in business
• Stated income
• No upfront fees
• Reports only to the business

REQUIREMENTS

• 700+ Personal Credit Scores on all 3 bureaus
• Established Business Entity

Apply today: ​https://preferredfundinggroup.wufoo.com/forms/q1b99q130o9718l/ 

Power Partnerships

• Usually evolve from Networking
• Meeting weekly builds:
• Trust
• Understanding
• Cooperation
• Commitment
• Synergy

Identify Power Partnerships

• People who share similar client universes
• They directly refer clients to you
• You directly refer clients to them
• Who are your competitors?
• Are they really your competitors?
• If you are an expert at one aspect of your field, and they are experts at another aspect you may be able to share clients
• Leads into Powerful Partnerships

The Best Power Partners

• Well Connected People
• Mutual Support of personal & business
• Diverse perspectives key to success
• Your B.R.A.N.D. should be similar
• Adopt each others core values

Key Questions To Ask

• What (Specifically) do you do?
• How do you do it?
• What is something someone might say that would lead me to think of you?
• What is a “Typical Situation” people are in when they realize they need your help?
• How can I introduce you?

Answer These Questions about Yourself (and Share)