Are CFOs using "Cost" as a reason not to start new projects?

I believe that cost is a major factor why companies are reluctant to consider new ideas right now.
Implementing new ideas can have significant upfront costs, while the savings and returns are usually only realized in the long term.
Companies are cutting costs and budgets due to the current economic climate, and this has a direct impact on what money is available for innovation and new projects.
Are costs holding back business growth this next quarter?

Jacoline Loewen See Jacoline on BNN, The Pitch Author of Money Magnet
Director, Crosbie Co.
Crosbie Co.
150 King Street West
Toronto, ON
M5H 1J9
416 362 7726

http://www.crosbieco.com/

How terrified are managers to do personal annual reviews?

You can never look bad to the board when you tell them you have some new ideas that will increase revenue that ties into the strategic plan. It shows that you are forward thinking. It is my opinion from being in these type of situations that the answer is this. 

Most of the executives I have worked with (70%) lack managerial courage. When you talk about saving millions dollars that means "beaucoup" changes in the organization that probably will effect people's jobs, layoffs, your power and control and the size of our office. This means having to talk to people who work for you that may not be good news for their self interest. 

Just look at how terrified managers are to do personal annual reviews. It takes courage to tell an employee they just aren't cutting it. A majority of men don't have the talent to resolve conflict and avoid it. They avoid conflict just like at home with their wife. Women run the house. (I learned this in Pyschology and talking to my coach) I was with a company who as a perk gave the three C-Level staff their own coach. 

We all know in our organizations staff who are negative and cause so much unproductivity but are given 5 stars at every review because their boss is afraid of conflict. I had a senior manager have a melt down one time because he was going to a different office without his mountain view. He tried to get me to back down on the change with intimidation. Conflict avoiders are everywhere. 

Many seasoned executives are afraid of new ideas because they don't want the pain of making the changes. Change agents don't last long in an organization. The executives that I have talked to who have been with the company the longest had one pervading quality. "They never took sides on anything and never initiated any change" 

I admire how quickly how quickly Microsoft could make organizational changes versus IBM whose ego really got in the way.

Jacoline Loewen, author of Money Magnet and on BNN The Pitch

Jacoline Loewen   See Jacoline on BNN, The Pitch  Author of Money Magnet Director, Crosbie Co.
Crosbie & Co.
150 King Street West
Toronto, ON
M5H 1J9
416 362 7726

Canada M&A deals drop 15 pct in Q3 as sellers wait

What is happening to businesses in Canada? It seems that the sellers are waiting for uncertainty to pass. When BNN asked Ed Giacomelli, Partner at Crosbie & Company, for his views on where we were, he said that the Q3 deal volume down 15 pct from Q2, 25 pct on year. BNN asked Mr. Giacomelli for his opinion on these lower rates of M&A, he said he believed it was due to the uncertainty but that by next year, sellers will be more confident again.
In addition:

* Deal value of C$40.5 bln was up 18 pct from Q2

* Big CNOOC/Nexen deal skews data

TORONTO, Nov 14 (Reuters) - The volume of merger and
acquisition activity in Canada slowed 15 percent in the third
quarter from the second as market uncertainty held back
prospective deals, though a blockbuster bid by China's CNOOC Ltd
for oil producer Nexen Inc helped boost the overall value of
transactions, a report showed on Wednesday.

Worried that a new project may ruin your image?

Even though a new project or tool is going to make the CFO look good, there is always that other side...that 'why didn't he/she come up with the solution earlier since it was out there before?
The CFO needs to remember that since they have the opportunity to do something about it, now is the time to do it.
Don't worry about anything else except that it makes sense for the business or the practice. 
It makes sense to get it done, now.

Have you heard of Insight Selling?

Implementing any consulting service involves focusing more on the potential for the prospective client to change and less on clients with potential to buy. 

This involves "insight selling" as opposed to old school "solution selling". The difference is insight selling involves looking for agile organizations who have not identified the potential problem you can help them solve while "coaching" them into the buying decision through producing disruptive information that uncovers unmet needs vs. asking a lot of questions hoping to . 

This is typically easier to accomplish when you target people within the organization who fall into the category of go-getters, teachers, and skeptics. Avoid people who fall into the category of guides, friends, climbers, and blockers who while friendly can't build consensus within the organization to change providers or take actions that would lead to saving money.

Jacoline Loewen, The Pitch on Business News Network, BNN

Jacoline Loewen   See Jacoline on BNN, The Pitch  Author of Money Magnet Director, Crosbie Co.

Crosbie & Co.

150 King Street West

Toronto, ON

M5H 1J9

416 362 7726