The Creedy Commentary
Alan Creedy: Sensory Rich Mission Statements Work
It is accepted wisdom that companies should have a mission statement. In most cases this exercise produces a plain vanilla restatement of something that sounded good. Effective mission statements connect with personal values…for both the members of the organization and those they serve. Some are bold others are just simple statements of commitment. But the […]
Basil Forsberg: Revenue that Replaces the Casket Sale
Cremation has been growing at the rate of 1% a year for more than 30 years. Many areas are now at greater than 50% cremation. Without the sale of a casket this imposes very strong economic pressure to continue operations. Basil Forsberg of Nipawin, Saskatchewan, Canada shared with me a way he has found to […]
Brad Speaks: First Viewing: an opportunity for deeper bonding
Brad Speaks of Speaks Chapels in Independence, MO. creates intimate bonds with families Personalization is a big issue today in funeral service. But most of the stuff we see is caskets and vignettes and takes both time and money. Here is an idea that creates deep healing, bonds the funeral director with the family and […]
Funeral Home Valuation Part 3: How To Present Your Operating Results
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 […]
Interrupting This Blog For an Urgent Message
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 Part 2: Why EBITDA?
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 […]
Funeral Home Valuation: Part 1
Funeral home appraisal, funeral home valuation, cemetery appraisal, cemetery valuation Multiples and how they are chosen For the past 20 years Funeral Home Values have been expressed most often as a multiple of EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). It was not always so. Prior to the 90’s values were often expressed as […]
The Tyranny of the Ten Call Man
A Management lesson from the bible One of the most common and pervasive staffing problems in funeral service is the man or woman who undermines almost every current and future issue management tries to address. They are the “Mayor of the Prep Room”. No matter what initiative you attempt, they quietly work behind the scenes to […]
A Different Way To Think About Packaging
for the past 4 weeks I have been attempting to spark a conversation about Pricing Strategy against the backdrop of a recent Harvard Business Review article: “How to Stop Customers From Fixating on Price.” Candace Franco responded with great insight: “Very thought provoking … but here is one I’d like to talk over with someone […]
How To Stop Customers From Fixating on Price Part 4
Partition Prices to Highlight Overlooked Benefits This is the 4th and last in a series on pricing strategy based on an article from Harvard Business Review of the same title. The purpose of this series is to stimulate thought and conversation among practitioners about pricing as a strategy rather than simply as a way of […]
How To Stop Customers From Fixating on Price Part 3
Part 3 Willfully Overpricing to Stimulate Curiosity Last week we discussed the commoditized customer and the second of 4 pricing strategies: “Using Price Structure to Clarify Your Advantage.” If you didn’t think I was certifiable last week there is a good chance you will be thinking about sending me for treatment this week. Please remember: […]
How To Stop Customers From Fixating on Price: Part 2
Part 2: “Using Price to Clarify Your Advantage” Increasingly, funeral markets are being commoditized. This series is adapted from an article in Harvard Business Review entitled “How to Stop Customers from Fixating on Price.” You can purchase a pdf copy directly by clicking on the link. In the article the authors point out that: “Most […]
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