Business Strategy

Welcome to the Business Strategy podcast. I'm your host, Steve Coughran. In today's episode we delve deep into the art of pricing optimization, accompanied by guest speaker Mark Stiving, who will share his expertise in the field of business. In this captivating conversation, we unravel the hidden gems of pricing hacks designed to revolutionize your approach to profitability. From strategic pricing adjustments to innovative techniques for maximizing revenue streams, our discussion leaves no stone unturned in empowering business owners like you to unlock untapped potential and scale your enterprise to new heights. Join us to gain invaluable insights into the psychology of pricing, uncovering how subtle adjustments can yield monumental impacts on your bottom line. With real-world examples and actionable strategies, you'll be equipped to navigate the complex landscape of pricing dynamics with confidence and finesse. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show. Support the Show.

Welcome to the Business Strategy podcast, I'm your host, Steve Coughran. Today, we're delving into the cornerstone of financial management: understanding your company's financial statements. As a CFO, I've learned firsthand the critical importance of the income statement, balance sheet, and statement of cash flows in assessing a company's financial health and operational efficiency. These financial statements not only provide a snapshot of your company's performance but also offer invaluable insights into the effectiveness of your strategic initiatives. From revenue and expenses on the income statement to assets, liabilities, and equity on the balance sheet, each component plays a crucial role in painting a comprehensive picture of your company's financial standing. Furthermore, the statement of cash flows illuminates how cash is flowing in and out of your business, providing essential information on liquidity and solvency. By mastering these financial statements and understanding how they interconnect, you'll be equipped to make informed decisions that drive your business's success. Join me as we demystify financial statements and unlock the keys to financial acumen. Tune in and empower yourself to navigate the financial landscape with confidence and clarity. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to the Business Strategy podcast, I'm Steve Coughran, your host. Today, we're diving into the essential topic of developing a winning strategy for your business. Crafting a strategic plan is pivotal for long-term success, and I'm excited to share my proprietary 10-step strategy blueprint with you. From defining your purpose and strategic problem to conducting thorough market research and evaluating strategic options, each step is carefully designed to guide you towards strategic clarity and actionable insights. By implementing this system in your business, you'll not only drive higher profits but also position yourself for sustained success in a competitive market landscape. Join me as we unlock the secrets to strategic excellence and pave the way for your business's future growth and prosperity. Tune in and embark on your journey to strategic mastery today! Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome back to the Business Strategy podcast, I'm Steve Coughran, your host. Today, we're diving into the core principles that the best founders employ to build remarkable companies. Number one on our list is getting intimately acquainted with your customers. It's astonishing how many leaders fail to engage with their clients regularly. I'm not talking about surface-level chats; I mean meaningful conversations where you ask the tough questions. I once advised a company to survey their customers about what they loved and hated, using those strong words intentionally to uncover deep-seated issues. Asking customers about their loves and hates reveals invaluable insights, guiding you towards solving real pain points. But remember, empathy is key here. Step into your customers' shoes and approach feedback with an open mind. This leads us to our second principle: short cycle time. Founders often spend too long perfecting their product or service before testing it with customers. Adopting a system where you can build, measure, learn, and adjust rapidly is crucial for success. Take it from my own experience; investing in a strategy management software without customer feedback led to costly mistakes. Test your hypothesis quickly and cheaply to validate product-market fit before investing significant time and resources. Our third principle is staying lean until everything works well. Don't rush into hiring; instead, build your infrastructure and operating model first. Scaling too quickly can backfire if your systems aren't robust. Remember, in the early stages, you're iterating and refining your offering, so keep your team lean until you've nailed it. Fourth, make a long-term commitment to your business. Avoid the temptation to jump ship when results don't materialize quickly. Building a sustainable business takes time and perseverance. Show yourself grace and have patience; success doesn't happen overnight. Lastly, take care of yourself. As founders, we have a responsibility to our stakeholders to be as healthy as possible. Avoid the allure of burnout; prioritize self-care and maintain a balanced lifestyle. Remember, taking care of yourself isn't selfish—it's essential for sustainable success. So there you have it, the five things the best founders do to build great companies. Join me next time for more insights and strategies to fuel your business growth. Until then, take care and cheers to your success! Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-p Support the Show.

Welcome back to the Business Strategy podcast, I'm your host, Steve Coughran. Today, we're exploring a fundamental aspect of any successful business: creating an ideal customer profile. In this episode, titled "How to Create an Ideal Customer Profile," I'll guide you through a comprehensive framework for understanding your customers on a deeper level. From uncovering their motivations and circumstances to envisioning their dream outcome and identifying the obstacles they face along the way, we'll leave no stone unturned. By delving into external factors and starting with empathy and understanding, leaders can truly connect with their customers and propel their companies towards accelerated growth. Join me as we unlock the secrets to knowing your customers better than ever before. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome back to the Business Strategy podcast with your host, Steve Coughran. Today, we're diving deep into a critical decision for entrepreneurs: choosing between an LLC and an S-Corp. Titled "LLC versus the S-Corp: Don't Make This Mistake When Getting Started," this episode is packed with insights to help you navigate this crucial choice. Steve breaks down the pros and cons of each entity, from liability protection and tax implications to administrative requirements and flexibility. Whether you're just starting out or considering a restructuring, this episode is a must-listen for any business owner looking to make informed decisions that set the stage for long-term success. Tune in and avoid the pitfalls that come with this decision! Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to the Business Strategy podcast with your host Steve Coughran. In today's episode, we delve into the art of storytelling with Akeem Shannon, the CEO and Founder of Flipstik. Akeem shares three simple yet powerful stories that have been instrumental in scaling his business from its startup phase to rapid growth. Drawing from his experiences, including his appearance on the hit TV show Shark Tank, Akeem emphasizes the importance of storytelling in various aspects of business, from effectively communicating strategies to inspiring teams, attracting investors, and even decoding financial statements for deeper understanding. Tune in as we uncover how storytelling can transform your business journey and lead to success, just as it has for Akeem and Flipstik. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this insightful episode of the Business Strategy podcast, host Steve Coughran is joined by Alex Prasad from Aegis Law Firm to navigate the crucial topic, "How Attorneys Steer the Course in Business." Together, they delve into the essential process of vetting a business attorney, pinpointing what entrepreneurs should look for to ensure a fruitful collaboration. The conversation also covers strategic exits and how legal expertise can not only streamline but also maximize the success of selling or restructuring a business. Whether you're at the helm of a startup or steering a mature enterprise, this discussion will arm you with the knowledge to choose and work with the right attorney, setting the stage for robust legal support through all phases of your business journey. Tune in to gain invaluable insights that could very well shape your venture's legal strategy and future success. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Tune in to the latest episode of the Business Strategy podcast, where your host Steve Coughran shares invaluable insights on "How to Prevent This from Getting in the Way of Your Success." In this thought-provoking discussion, Steve explores the concept of good, better, and best, emphasizing the importance of prioritization when executing your strategy. By focusing on activities with the greatest potential upside, you can prevent yourself from being spread too thin and ensure that your efforts create meaningful and lasting value. Join Steve as he unpacks practical strategies for maximizing your impact and achieving your goals with precision and purpose. Don't miss this episode packed with actionable advice to supercharge your business strategy and elevate your success! Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to the Business Strategy podcast with Steve Coughran. Today, we're delving into "Understanding the 4 Phases of Strategy." I believe in a holistic approach to strategy, avoiding narrow thinking to grasp the bigger picture. Through years of experience, I've developed a framework for strategy, comprising diagnose, design, execute, and empower. In the diagnose phase, we leverage data analytics to pinpoint operational and financial issues, starting with benchmarking and performance measurement. Next, in design, we integrate strategy and finance principles, offering a free course, "Building a $1 Million Strategy Blueprint." Execution involves leveraging our IARs framework for tangible results and clear roles, tracked through monthly Financial Strategy Review meetings. Finally, in the empowerment phase, we develop resources and capabilities for continuous improvement and innovation. Apply these principles to your business and witness extraordinary results. Stay tuned for more insights on business strategy in upcoming episodes. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this episode of the Business Strategy podcast, host Steve Coughran delves into the heart of why many strategies don't live up to their aspirations. As we explore the conventional process followed by most companies, we'll discover how to bolster the odds of your strategy's success. Last fall, numerous businesses were engrossed in refining their budgets and securing approvals for the forthcoming year. Regular listeners will recall my skepticism toward traditional budgets that rigidly set annual figures, serving more to command and control teams than to foster agility and insight. My advocacy leans towards forecasting—a dynamic, both proactive and reactive approach that enhances an organization's predictive capabilities. Yet, many companies remain entrenched in the budget-making process, rigidly linking compensation to these budgets, and enforcing them as if they were immutable, thereby resorting to manipulation, fear, and guilt to force plans into fruition, a method that rarely proves effective. A critical observation I've made is that too many companies erroneously regard the formulation of a budget, complete with lofty sales and profitability targets, as the cornerstone—and mistakenly, the initial step—of strategic planning. To be clear: a budget is not synonymous with strategy. Merely setting ambitious financial targets is no guarantee of their realization, particularly if ensnared by two common pitfalls. These errors are so widespread that I encountered them firsthand in my early days as a business owner. The first is the tendency to draft bold profitability projections, fueled by an optimism bias. Although ambitious goals are not inherently problematic, such optimism frequently clashes with the practical challenges of meeting those objectives. The second error is devising strategies that are overly cautious and fail to match the scale of the ambitions these numbers represent. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this week's episode of the "Business Strategy" podcast, host Steve Coughran dives deep into the transformative idea that, in the coming decade, nearly every company will essentially become a tech company. This sweeping change isn't limited to sectors traditionally associated with technology; it spans across industries like plumbing, electrical, advertising, food and beverage, healthcare, retail, and beyond. The dichotomy between tech companies and 'everyone else' is blurring, accelerated by the pandemic's push towards digital and the continuous evolution of artificial intelligence. Today, technology isn't just a part of business operations; it's central to them, making it clear that regardless of the industry, every company is now a tech company at its core. Steve highlights the critical role of technology in enabling businesses of all sizes to adapt, innovate, and remain competitive in a rapidly changing market. The pandemic not only accelerated the adoption of technology but cemented its importance in day-to-day operations and strategic planning. Digital transformation is now a necessity, not a luxury, as evidenced by the projected worldwide expenditure on digital transformation, expected to reach a staggering $3.4 trillion by 2026. Organizations that embrace this shift, particularly those with a chief digital officer or similar roles focused on technology strategy, are significantly more likely to succeed in their digital transformation efforts. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this thought-provoking episode of the Business Strategy podcast, host Steve Coughran sits down with Jackie Bebenroth, the visionary founder of Muse, to explore the timely question: "Is It Time to Change Your Brand?" Together, they delve into the essence of what a brand truly represents beyond logos and taglines, unraveling its significance in connecting with audiences on a deeper level. The conversation navigates the crucial moments leaders face when deciding to evolve their brand, addressing the challenge of justifying investments in brand building that may not immediately translate to ROI. Jackie shares her expert insights on recognizing the telltale signs indicating that a brand evolution is not just beneficial but necessary within an organization. This episode offers a comprehensive look at the strategic considerations behind brand transformation, providing valuable guidance for leaders contemplating this pivotal shift. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Connect with us at www.coltivar.com In the latest episode of the Business Strategy podcast, host Steve Coughran delves into the essence of strategic initiatives under the compelling title "Do Your Initiatives Include These 4 Things?". Steve begins by emphasizing the critical difference between strategy and strategic planning, building upon insights from the previous episode. He stresses that strategy involves making interconnected choices about a company's vision, competitive arenas, operational approach, and mechanisms for success, with the customer's value at the heart of it all. Contrastingly, planning is about the execution of this strategy. Steve critiques the common misstep of conflating strategic planning with strategy itself, which often leads to a mere compilation of tasks rather than a coherent strategy. The conversation transitions to the concept of a "go forward plan," rooted in strategic initiatives. Steve introduces his unique framework, the IARs (Initiatives, Actions, and Results), to guide companies in executing their strategies effectively. He then focuses on the 'initiatives' aspect, explaining it through a metaphorical circle divided into four equal parts, representing the dual goals of capturing value for the company and creating value for people, including customers, employees, and other stakeholders. Steve delineates the four critical components of strategic initiatives: overcoming strategic problems, building competitive advantages, enhancing customer experiences, and promoting innovation. He argues that initiatives lacking in these areas fail to generate value, urging listeners to reassess and realign their strategies accordingly. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to the Business Strategy podcast with your host Steve Coughran. Today, we're delving into the question: Are Strategy and Strategic Planning the Same Thing? It's a topic that often gets conflated in the business world, leading to costly misunderstandings. Strategy, arguably one of the most misunderstood disciplines in business, is often mistakenly equated with planning. Many companies find themselves locked in fierce competition, scrambling for morsels of profit in crowded markets, a perilous race to the bottom. But let's set the record straight. Strategy and planning are not interchangeable terms. Planning is about allocating resources, determining costs, and outlining activities to achieve objectives. On the other hand, strategy is about making tough choices, crafting an integrated set of decisions to position a company for success. Sadly, many leaders opt for planning over strategy because it feels safer and more familiar. They mistake budgets for strategies, focusing on financial projections rather than a coherent vision for winning in the marketplace. The discomfort of strategic decision-making often leads to a retreat to the comfort of routine planning. But here's the truth: Strategy starts with a dream, a shared vision that includes all stakeholders, especially the customer. It involves making bold choices, even if it means dismantling the existing model to build something better. Look at the cautionary tale of Blockbuster versus Netflix. While Blockbuster focused on planning, Netflix was busy strategizing, redefining the industry and solving customer problems in innovative ways. So, if your company isn't actively crafting a strategy to differentiate itself and deliver unique value, it risks becoming the next Blockbuster. It's time to prioritize strategy over planning, to define clear objectives and make the tough choices necessary to win in today's competitive landscape. Join me as we explore how to navigate this strategic journey and unlock the path to sustainable success. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this episode of the Business Strategy podcast, host Steve Coughran dives into the crucial topic of achieving better results in business. He emphasizes the significance of having everyone in the organization on the same page and strategically aligned to drive success. Steve underscores the importance of putting the customer at the center of the strategy, highlighting how customer-centric approaches can lead to sustainable growth and competitive advantage. Furthermore, Steve discusses the necessity of making strategy relatable at all levels of the organization to ensure successful execution. By ensuring that every member of the team understands and embraces the strategic direction, businesses can effectively translate plans into action and achieve their desired outcomes. Tune in to gain valuable insights on how to elevate your business strategy and drive better results. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to the Business Strategy podcast with your host, Steve Coughran. In today's episode, we tackle the pervasive myths surrounding strategy in the business world. With years of experience navigating the intricacies of strategic planning, Coughran dispels the notion that strategy is about predicting the future. Instead, he advocates for a more pragmatic approach, emphasizing the importance of adaptability over rigid forecasting. Furthermore, Coughran challenges the misconception that agility equates to constantly changing strategies on a whim, advocating for a more balanced and thoughtful approach. He also questions the effectiveness of long-term strategic planning, arguing that the pace of change renders such forecasts obsolete. In lieu of traditional methods, Coughran offers contrarian perspectives on designing and implementing winning strategies that prioritize flexibility, innovation, and resilience. Tune in to gain valuable insights and revolutionize your approach to strategic thinking in today's dynamic business landscape. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Welcome to another episode of the Business Strategy podcast with your host, Steve Coughran. Today, we'll be delving into why Sam's Club's significant investment in technology, particularly its app, is a game-changer and why you should be following suit. Sam's Club has recognized the importance of streamlining the checkout process and elevating the customer experience through innovative technology. Join us as we explore the four key components of customer values and uncover strategies to integrate similar approaches into your business. Discover how these tactics can not only provide better and more unique experiences for your customers but also contribute to building a stronger brand, fostering loyalty, and creating a tribe of raving fans. If you're keen on staying ahead in the competitive business landscape, this episode is a must-listen for insights into leveraging technology to enhance your customer relationships and drive success. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

In this episode of the Business Strategy podcast, your host Steve Coughran dives into the critical topic of "It's Time to Fire that Toxic Employee." Drawing on his extensive experience working with companies of various sizes and industries, Steve sheds light on the game-changing impact toxic employees can have on an organization. Sharing anecdotes from his days as the CFO of a major construction company, Steve emphasizes the detrimental effects of retaining toxic individuals, even if they are high performers. He discusses the delicate balance between the professional and personal aspects of such decisions and explores the widely recognized HR mantra: "Fire fast." Steve guides listeners through identifying red flags, such as poor cultural fit and lack of engagement, and offers practical advice on navigating the challenging process of letting go of toxic employees. If you're grappling with this dilemma, Steve's insights provide a roadmap for making tough decisions that contribute to the overall health and success of your business. Tune in for valuable lessons on creating a positive work environment. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.

Join host Steve Coughran on the Business Strategy Podcast as he tackles "The Dangers of Straddling" in the world of modern business. Dive into the detrimental effects of pursuing multiple strategies simultaneously, a trap many ambitious companies fall into. Explore why a less-is-more approach, focusing on a single, well-executed strategy, leads to sustained success, growth and differentiation in the market. Understand how a singular strategy aligns with a company's overall objectives, promotes effective resource allocation, and leads to financial improvements. Learn why straddling can cause confusion, hinder adaptability, and ultimately, compromise a company's standing in today's ever-evolving marketplace. Tune in to uncover the power of strategic focus in business success. Links: Do you have ideas or feedback to share? Email me at contact@coltivar.com To learn more about us, visit: https://www.coltivar.com/ Disclaimer: The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.coltivar.com/privacy-policy-and-terms-of-use for additional important information. Support the Show.