Windy City Fieldhouse
Named to Inc. 5000 Fastest Growing
 Windy
City Fieldhouse, run by CEBI Member Murrel Karsh, has been listed by Inc.
Magazine in its annual ranking of the 5000 Fastest Growing Private
Companies in America. The Inc. 5000 list is comprised of U.S.-based
and privately held companies with the best earnings growth from 2005 through
2008. This year’s list includes such companies as Visio, Zipcar and
GoDaddy.
Windy City
Fieldhouse (WCF) is the Midwest's largest Team Building and Entertainment
Company. Their services range from Summer Picnics and Great Amazing Races
to Deep Skills Team Building events.
Congratulations to
Murrel and the Windy City Fieldhouse team for this prestigious recognition.
Link
to Press Release
Ed Note: WCF is one of several CEBI Member
companies to be named to the Inc. 5000. Coincidence?
CEBI Members Say Economy is
Improving
-- Time for Some Scenario Planning?
This week I heard the phrase "view from the top of the mountain".
I won't claim to be on a mountain, but I love the insight into Main Street
America I get from daily conversations with CEBI members and other business
owners in my own community. That continuous information flow makes me
feel like I have at least a "high hill" perspective.
Right now, Main Street is saying things like, "My backlog
has stabilized and is beginning to increase", "My quote volume is
up", "Customers who haven't ordered for 6 months are needing parts
again", or, "I've reduced my costs to where I've had profitable months in
June and July". Manufacturing output turned positive in July, and productivity is up 6.3% annualized.
I'm not an economic forecaster. What I do
know is that this recession has been extraordinarily uneven -- it has hit
different geographies and different industries in radically different degrees, and
also in different time sequences. So, if you're among the few members who
aren't seeing an upturn in your business, keep your seat belt fastened, knowing
your turn will come. And, of course, the rate of further improvement may
be uneven, as well.
I'm
also not a stock market analyst. I have no clue if, how, or when this
"Main Street" upturn will affect the equities markets. Some
would say it's already priced into the recent market runup. That aside, you might consider some
Scenario
Planning to help you with deciding if, when or how to change your investment
strategies.
On the
business side, it's also a good time to consider some Scenario Planning. Those who are still
standing as business picks up can aggressively exploit some inevitable
shortages of supply and weaker competitors who are either mortally wounded or asleep at
the switch. Here's
a "how to" article on Scenario Planning.....
Be Wary of Non-Revolving
Lines of Credit
One of our members took heed of advice he heard
in Board meetings and Summits -- Get your lines of credit solidly in
place. In today's world, "Cash is King" might be better
stated "Available Cash is King", and your line of credit is part of
that cash availability structure.
This story blew my mind. He got his line of credit renewed
last fall and needed it earlier this year. After borrowing it about
halfway down, he then paid it back -- nearly in full.
The next time he looked online, he saw his available line
reduced by about half. He called his banker, and learned to his
amazement (and mine) that his renewal had been processed as a non-revolving
line of credit. Each time he makes a draw, the line is
reduced by that amount, regardless of repayments! Who knew?
Sure enough, he read his loan document and they
were right. He's getting that problem fixed, thankfully, while he's not in
immediate need of the full line.
Suggestion: Pull your LOC
documents and be sure your banker hasn't slipped this one in on
you.
ARC Loans Update
If you don't have a need for $35,000 in interest-free cash, skip
this article. If you do, you'll want to remember the American
Capital Recovery (ARC) loan program of The Small Business Administration
(SBA). CEBI Members received an Alert
on this program on July 2.
I've heard from more than one member that their banks stiff-armed
them when inquiring about the ARC program. Bankers have been quoted
as saying, "Not worth the trouble", "We don't know anything about
that", "We've never done one of those", etc.
One
of our members wasn't willing to take his bank's brushoff and, he says, "I
got the paperwork and filled it out myself." He's expecting to
be his bank's first ARC loan recipient -- sort of a poster child.
If
you're presently having trouble borrowing, or are interested in improving your
cash position at minimal cost, have
a look at the CEBI Member Alert on the SBA's ARC Loan
Program....
Spouse Social Security -- 4 Facts
You Need to Know
 If you have or are thinking of putting your
spouse on the company payroll, there are at least 4 facts you need to know about
how this system works. You may, in fact be taking a 15% haircut on your
spouse's salary that will never make any difference in benefits
received.
If you're over 55, there are at least 4 facts you need to know
about how this system works with respect to your spouse's timing on applying for
Social Security benefits.
And, would you believe, there's a "Do Over" provision
in Social Security benefits? If you start taking benefits and then
change your mind, you can take a mulligan. Read
the full article.....
And, as always, we're
interested in your ideas for newsletter articles. Would you perhaps write
a guest Editorial? Please let us know if you have ideas or material you'd
be willing to share with others.
Thanks,
Terry Weaver
CEO
Chief Executive Boards International
TerryWeaver@ChiefExecutiveBoards.com
864 527-5917
www.chiefexecutiveboards.com
www.chiefexecutiveblog.com
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Process
Mapping
A member reminded us in a recent Board Meeting that a
rigorous look at "process adjacency" is a way to further improve
productivity, throughput quality and waste (to name a few).
This member took advantage of the recession slowdown to re-layout his
factory, focusing on moving sequential processes closer together. For
example, he moved packaging right to the end of his production line and then
moved finished goods inventory right alongside that.
If, like many CEBI members, you're not in manufacturing, these
ideas still apply. Have
a look at an article on moving administrative processes closer together.
You'll find this improves productivity, throughput, quality and waste in the
office, as
well.
How Much Employee Motivation Can You
Buy with a Car Wash?
A lot, apparently. If you're not using "spot"
rewards to recognize and reinforce the behaviors you want, give it a
try.
Sounds hokey, but Fortune 100 companies are using Target gift
cards, gas cards and car wash coupons to motivate and retain
employees.
Here's
how a member brought the car wash idea to the office....
And
here's another article on the basic idea of gift cards as "spot
rewards".....
Look for People with a Lot of Tools
on Their Belts
If your scenario planning suggests you're going to need some
more help to support your business upturn scenario, do some scenario planning
also on the kind of person you're looking for.
Of course, there are still some great candidates out there, but
they won't last forever. One member mentioned that he looks for
people with "a lot of tools on their belts." More
on what he meant by that idea......
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Nominate a Member
CEBI membership
has grown at a record pace over the past year, in part due
to CEBI members nominating friends & associates as new
members. Additionally,
we've had multiple members nominate identified successors or
purchasers of their businesses.
Do you have an
acquaintance who could benefit from membership in Chief
Executive Boards International? If you need an
email to share with a friend, try these "talking points"
Use this Nomination
Form
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