President’s Message
By Robert Few
Spring is in the air! As the weather warms and we can get outside more this is a fantastic time to pause and take a step back to evaluate your business at a higher level. To do this effectively, I suggest taking a day or two off (more if possible) and disconnecting from your daily business activities. This will help you get out of the weeds and hopefully give you a different perspective than the one you have while you are caught up in managing your team, putting out fires, responding to urgent customer requests etc. I was recently fortunate enough to take some family time. My family of 6 and I rented an RV and we hit the road for a week. With my wife and four kids in an RV, I did not have much of a choice but to disconnect. I have to admit this was more beneficial than I anticipated. It gave me some time to think outside of the confines of my office, and while I was driving it brought tremendous clarity. I came back recharged, focused and energized!
While out of the office, find a quiet place. Maybe a home office or study, or even better get out into nature and go for a walk or a hike. Bring a notebook with you and think about your business goals, and how you are tracking toward your overall 2021 aspirations as we mark the end of the first quarter. Here are some questions to ask yourself:
· How is it going so far?
· Are you hitting your targets?
If so, fantastic!
Are all areas of your business flourishing?
What can you do to help your team members, your customers and your vendor partners keep pace?
If not, why?
What is in the way of your progress?
How can you clear the path to hit your goals?
· What areas of the business do you want to focus on in the 2nd quarter?
Write down how you will be intentional about zeroing in on areas that need improvement or opportunities you want to capitalize on.
· With tax season upon us, hopefully you have already worked with your accountant to ensure there will not be any surprises, but if you have not that should be your first call when you return to the office.
Make sure you have a CPA who understands your business. If you need recommendations reach out to me and I would be happy to connect you with some fantastic options.
· This is also a good time to take a closer look at your contracts.
If you have not had your contracts reviewed by a qualified attorney that works in our industry within the last 12 months, this should be your second call when you return to the office.
Again, if you need recommendations let me know and I will connect you to some great attorneys that will ensure your business is protected properly.
· While we are on the topic of protecting your business, are you properly insured?
You should already have General Liability and Errors and Omissions insurance for your business, but this is also something that needs regular evaluation.
The coverage you needed 5 years or a year ago may not be what you need today as your business has evolved.
I also recommend working with an insurance provider that knows the security industry and I am happy to help connect you with those I recommend in this arena as well.
In conclusion, most of my messages in this newsletter are focused on how you can efficiently run and grow your business. As you work through your Spring check-up list do not be afraid to reach out to me for help. I love working with companies in this industry whether they are a GMS dealer or not, to take a closer look in all the nooks and crannies and help you find opportunities for growth, improvement, team building, or even due diligence around companies you have interest in acquiring or being acquired by. Here’s to a successful Q2!
Sincerely,
Robert Few - President & CEO
General Monitoring Services
(201) 838-0091
