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Advising, Consulting And Mentoring Greater Houston Area Business Since 1986
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From the Editor...
Richard Hendee
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The Cost Of Non-Traditional Financing
Borrowing money for your business can be a good thing and it can also be your worst nightmare.
When a business borrows money to grow the business, acquire a new facility, buy a competitor, or expand to another city, consideration should be given to matching the terms of the financing with what the money is going to be used for. As an example, it would not be a good financial decision to try to pay for a new building in a year, nor would it be a good decision to finance a new phone system for twenty years. In addition, if you have excess cash, it is usually not a good idea to pay-off a loan ahead of time. Always remember: "Cash is King". When you have cash, getting a new loan is easy. When you don't have any cash, it is much harder to get a loan.
Read more...
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Ready To Take Your Business To The Next Level?
By Rainee Busby, a Silver Fox Advisor
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The old saying "what got you here won't get you there" directly applies to a business that wants to grow. Many business owners want to expand operations but are not quite sure how to grow in a stable manner. They must ensure that as the revenue grows the profitability stay consistent or better yet increases. Much easier said than done.
It's about mastering the art of Delegation! Owners and leaders wear many hats. On a regular basis evaluate the tasks you are doing and ask yourself these two questions:
- Does it require my skills and expertise? If not, then you should think about who could benefit and develop future skills from doing that task. You are too highly compensated to be doing a task you are obviously overqualified for. Ask yourself, would you pay someone $50 an hour to do a $15 an hour task? Of course, you wouldn't! Sadly, many do which directly contributes to those long hours and sleepless nights
Read more...
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Silver Fox Advisors Present:
"Why Houston Is Poised To Be The Next Great Global Innovation Hub
"
Silver Fox Advisors Lunch & Learn
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HOUSTON, TX -
Silver Fox Advisors
announced the June 2018 Lunch & Learn Program, scheduled for Thursday June 28, 2018, will feature Jon Nordby. He will be speaking about "Why Houston Is Poised To Be The Next Great Global Innovation Hub."
Jon heads up strategy creation and execution for the newly formed Houston Exponential (HX). HX works with Startups, Corporations, Investors, Academia and Government to be a catalyst for Houston's Innovation Economy and Startup Community.
Prior to HX, Jon was the Vice President of Innovation and Talent at the Greater Houston Partnership where he oversaw development and execution for two of the Partnership's strategic initiatives designed to drive more young talent to the Houston region and create opportunities for high-impact startups to launch, grow and exit in Houston.
Jon has a background in sales strategy, consulting and entrepreneurship. He has worked with major brands in the fortune 100 to create strategies around innovation accounting, talent engagement and all aspects of human capital management.
Click Here for More Information...
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Community Outreach Update
By Rainee Busby, Outreach Committee Chair
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Welcome to the launch of the Silver Fox Advisors' Outreach Committee section of our newsletter. We are excited to share with you the upcoming events you may be interested in attending as well as showcasing the amazing organizations we work with.
The purpose of our Outreach Committee is to support and partner with other organizations to promote the expansion and success of the Greater Houston business community's small and medium privately held businesses.
In addition, many of the Silver Fox Advisors find numerous ways to give back to our community on an individual basis. To date, Foxes have touched over 140 organizations and continue to learn about more opportunities to make a difference!
Please visit
our webpage
to learn more about our Outreach Committee and the amazing organizations we work with. Until next month!
June 2018 Events:
Business Plan Judging for the
Prison Entrepreneurship Program
is June 7th and their final graduation is June 8th. Always looking for executive volunteers who want to truly change someone's life.
Starting and Running Your Own Business
presented by Houston Community College's Center for Entrepreneurship - Southeast and Score. June 9th - special grant by Capital Bank - first 10 veterans attend free.
Sales and Marketing Powered Up - For Small Business Launch and Growth sponsored by Houston Community College's Center for Entrepreneurship will be on June 12th. Our own Silver Fox Advisor Austin Tenette will be one of the presenters.
t
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Monthly Marketing Tip
By Mark Miller a Silver Fox Advisor
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Don't Tell, Coach
The best managers are the ones who help others discover the lessons for themselves. The lousy ones not only tell, but they yell. These folks use phrases like: If you screw this up, I hate to be so negative, you got to make quota this month or else. Managers do and say it this way to make themselves feel somehow in control. "Telling" doesn't build sales character and unfortunately it can either cause your sales people to lose respect for you or, in fact, motivate your sales people not to really try. Mentoring and coaching strategies mean asking good questions, especially when you already know the answers. Help your people come up with the lessons you would like them to learn on their own. t
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Silver Fox Advisors
Silver Fox Advisors are current and former business owners, entrepreneurs and executives dedicated to assisting business owners to improve their enterprises through mentoring and consulting. Advisors have been sharing their knowledge, experience and skills since 1986. To work with a Sliver Fox Advisor, please visit our website at www.silverfox.org and select your advisor.
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Upcoming Events
Lunch & Learn
Thursday, June 28, 2018
Guest Speaker:
Jon Nordby
Topic: Why Houston Is Poised To Be The Next Great Global Innovation Hub
Location: The Houston Racquet Club
1079 Memorial Drive
Houston, TX 77024
You can buy a table for eight for this event for the price of seven individual tickets. ACT NOW!!!!
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This Month's Featured Book
by a Silver Fox Advisor
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