A problem, certainly not unique to DeathCare but just as certainly profoundly prevalent, is an artificial sense of professionalism. Born out of defining success by what people might think of us, it blocks our ability to succeed by making us unwilling to "Stoop To Greatness". I just received this two page post from Patrick Lencioni's [...]
Booz & Company, one of the foremost consulting leaders in innovation, has discovered a link between performance and strategy called "Coherence." For a company to be described as coherent, it must be resolutely focused on the interrelationship among three critical elements: its market position (its chosen “way to play” against competitors); its most distinctive capabilities, [...]
First, it is important to say that ignoring the current social media trend is akin to ignoring the increasingly vital need to have a viable website. Second, one of my concerns (but not the subject of this article) is that being active in social media like Facebook and Twitter has the potential to mislead many [...]
I consider Frank Dawson of Dawson Funeral Homes in E. Liverpool, Oh. to be the "Grand Master" of social media. With it he has not only built his business but created a veritable competitive "fortress." He has done this by applying a simple axiomatic human principle. Watch this video to learn more about that principle [...]
Two key social media levers that have nothing to do with technology With all the recent buzz about social media, I think it is important to remember that social media is not new. In fact, there are a few practitioners who mastered social media decades ago and built veritable "competitive fortresses" on the concept. There [...]
We have now learned about 3 key variables in arriving at a value for your funeral home: What a multiple is and where it comes from What is EBITDA and why do we use it How to "normalize" your financial statement presentation Now we will pull all this together so you can begin to play [...]
Get your crying towel out. This is a great video and I hope you will help make it viral. click below to see someone making a difference one life at a time.
In order to properly determine EBITDA you first have to present your financial statements correctly. If you are not using an accounting service that specializes in the funeral or cemetery industry then it is highly likely that your financial statements are not presented in a manner that makes ratio analysis meaningful. For instance: the way [...]
Once in a while something comes along that deserves to be viral. Something that speaks to the common good and addresses issues deep enough to be shared by everyone. Intelligence indicates knowledge not wisdom. A wise man knows how to use his knowledge to make a good decision. A person may have a lot [...]
Funeral home valuation, Funeral home appraisal, Cemetery Valuation, Cemetery Appraisal EBITDA became popular in the 70s and 80s when buyers were trying to locate companies that had strong cash flow outside of financing and capital Expenditure concerns. Since buyers were going to change the capital structure anyway, it was convenient to have a quick apples to apples [...]