The 80 th session of the Nevada Legislature, which meets every two years, began on February 4 th and will be running for 120 consecutive days.
The decisions made by our elected representatives have an immediate and powerful impact on our daily lives, especially for those of us who own and run businesses.
During the current session there are already about 1,000 Bill Draft Requests (BDRs) and it is estimated there will be hundreds of more BDRs proposing to change the laws in some form or another. Each of these BDRs will be reviewed, discussed, re-drafted, re-discussed and potentially approved for our new Governor Steve Sisolak to sign into law. The range of topics and items that will be considered is endless and very likely to impact you.
In an effort to stay involved in the process and look out for my clients, I am serving on the Legislative Committee for the Henderson Chamber of Commerce, which will be tracking many of these BDRs on behalf of our local businesses. Since resources are limited, we will primarily focus on four main areas: Taxes and Regulations; Infrastructure and Land Development; Healthcare; and Workforce Readiness. Additionally, I will be heading to Carson City on Tuesday, February 26, 2019 to visit with legislators and help them understand our concerns for you.
Get involved and let us know how we can assist you in protecting your business.
I was recently interviewed for an article in Nevada Business Magazine on Exit Planning.
You can read the article here.
“Management is doing things right;
leadership is doing the right things.”
– Peter Drucker
What is Leadership?
1. The individuals who are the leaders in an organization, regarded collectively.
2. The activity of leading a group of people or an organization or the ability to do this.
3. The act of inspiring subordinates to perform and engage in achieving a goal.
One of our goals at Eagle Corporate Advisors is to help you increase the transferable value of your company. The activities of value enhancement implements changes which create and drive long-term benefits for you.
Strong leadership is one of your organization’s key value drivers. Your company’s value is increased when it has an active board of directors, a cooperative senior management team that effectively communicates within a positive culture, and can stay on course without constant interference from ownership. This includes adequate succession planning for the senior team and career advancement plans for those who will be filling these roles in the future. Who is on your bench? Are they getting the experience needed to keep the company running beyond your days?
Leadership and a positive company culture go hand-in-hand. Company culture starts at the highest organizational levels, but it doesn’t stay there. That’s because employees are paying close attention to how leaders walk the talk. Are plans being implemented all the way down the organization?
In other words, your people are paying attention to what you do, not what you say.
In terms of tangible benefits, strong leadership guides the actions, behaviors and alignment of a positive culture. It does this through accountability and influence in the ability to hire, develop and retain quality individuals. The right people can strengthen morale, engagement, ethics, customer relations, productivity, innovation and many other aspects—all of which can add to your bottom line.
“Great leaders don’t set out to be a leader—they set out to make a difference. It’s never about the role, always about the goal.”
— Lisa Haisha
Step 2: Advancement
At Eagle Corporate Advisors, we help you chart a course, cross bridges, avoid obstacles and stay on track to keep you and your business on the best path to your success. We call this roadmap “The Six A’s.”
In our last issue, we talked about Assessment, in which we perform an objective comprehensive analysis of all factors which may impact your growth or transition strategy. This includes understanding your business position and personal goals from objective and subjective points of view.
In this month’s newsletter, I want to focus on Advancement, which is the second A. Advancement involves developing the proper action plan and timeline to help make your dreams a reality. Why are you doing what you are doing? Why do you want to change or improve? What will you accomplish? When will you have time to work on your course corrections? When will you reach your destination? How will you do it? How will you find the resources and time to implement each action? Who will be accountable for each step? Will you try to take on more than you can handle and give up too soon?
In my mentorship, I often talk about the “Five D’s,” which are five major events that can create severe disorder in a business.
While none are pleasant to think about, it is imperative that owners have a contingency plan to give the business a fighting chance of survival when one or more occur. There are definitely steps, within our control, that we can implement to minimize the potential negative impacts of these frequent events, which I will discuss in greater detail in future newsletters.
For now, I would like to address other forms of disruption, such as current headlines that can be no less devastating. These can include economic downturns, natural disasters, shutdowns, strikes, new competition, changes to relevant laws, technological obsolescence, a shortage or price increase in needed materials, wars, and dozens more.
The recent government shutdown is a good example. While some workers could see it coming, they had no way of knowing exactly when it would take place or how long it would continue. Many were ill-prepared, as 78 percent of full-time workers say they live paycheck to paycheck, according to a recent report from CareerBuilder. Fortunately, government workers received their back pay, unlike the businesses who will never be able to make up the difference when a disruption from the “normal” occurs. And it’s not just about those directly impacted. What if you own a private sector business that depends on Federal government contracts? How do you weather that storm?
The point is this: we live in an unpredictable world that can derail our best efforts without warning. Preparation is key, and while the pain can’t be eliminated completely, it can certainly be decreased. When was the last time you had a serious conversation about ways to make your business less vulnerable to inside and outside forces?
02/13/19 | Business Valuation Workshop
Do you know what your business is really worth?
Valley Bank of Nevada, Henderson branch
Wednesday, February 13 at 5:30 pm.
If you’d like to attend email Chuck at ChuckM@EagleCorporateAdvisors.com .
As president of Eagle Corporate Advisors, Chuck Mohler uses his 25-plus years in business to assist professionals who can’t always know and do it all.
So is Chuck an “advisor,” a “coach” or a “mentor”? People often use the terms interchangeably but they have distinct meanings.
An “advisor” is an individual with a background and skillset similar to yours, but has “been there, done that” and is eager to share hard-won lessons.
A “coach,” similar to sports, helps you address specific challenges in the business arena. Coaches guide you through the rough spots and help you improve areas that need enhancement.
A “mentor” is not only capable of training you for business success, they also help you become a better, more well-rounded person.
What role does Chuck serve? He’s well equipped to be all three, but his long-time clients know he strives to be their mentor from day one.
For more information, please visit eaglecorporateadvisors.com .