MONEY: Getting and Keeping It

49 posts

Equalize Price Points to Crystallize Personal Relevance. This is the first recession to show a measurable impact on DeathCare.  Most surprising have been the many reports from rural and “rustbelt” funeral directors that cremation has recently spiked, not because people in their markets want cremation but BECAUSE THEY CAN’T AFFORD […]

REINVENTION: PROFIT CLINICS

There is a level of neglect in our profession that will (and is) causing too many to approach the end of their careers facing great disappointment, forcing the postponement of retirement or spending retirement much more humbly than anticipated.  It is too dangerous to be considered benign.  Dangerous, certainly, at […]

I feel like maybe I have backed myself into a corner. Price-Led-Costing A simple concept; but for an industry steeped in generations of pricing from exactly the opposite perspective and whose most respected financial advisors continue to advocate cost-led-pricing this is bound to be a real challenge.  To enable you, […]

Building A Competitive Fortress Through Your Pricing Strategy

Last week I addressed our broken pricing model referred to as Cost-Led-Pricing.  Apropos of everything this article came to my attention Tough times add hardship to heartache: More families ask for help paying for funerals underscoring the problem created by our outdated pricing strategy and causing me to wonder if maybe […]

This image illustrates so well the folly of our more than century old pricing model.   All was good until the market changed about 30 years  ago.  Because we didn’t know anything else (and neither did our advisors)  our response to the growth in cremation has been to beef up […]

EXPERT OPINION: HOW TO CALCULATE YOUR SHARE-OF-WALLET

A few years ago we came to the realization that there was a real necessity to review our system.  Not all calls are equal in service type, in merchandise and in revenue.  The old system indicated that direct cremation had the same market share value as a traditional burial.  In […]

Why Your Business Will Be Worth As Much As 8.8% less in 2013

Remember that bill congress needed to pass to see what was in it?  Well, surprise!!  The Medicare Tax has been expanded to include almost ALL income (active and passive) over $200k for singles and $250k for couples.  This even includes the gain on the sale of a personal residence over […]

How Insurance Companies Make Money: Wisdom From Warren Buffett

When I first began negotiating with insurance companies some 25 years ago I made the same mistake now common in the funeral profession: I assumed they made their money the way all “normal” businesses do.  In other words we generate revenue through sales we pay for our merchandise at wholesale […]