Wealth Management

Voted #6 on Top 100 Family Business influencer on Wealth, Legacy, Finance and Investments: Jacoline Loewen My Amazon Authors' page Twitter:@ jacolineloewen Linkedin: Jacoline Loewen Profile

November 15, 2012

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

November 14, 2012

How does an outside advisor get the CFO to buy?

A CFO's reluctance to try something new, even something that would save the company significant dollars, can be attributed to the initial lack of trust in the advisor that brings the idea to the table. 
It takes time to foster a relationship of trust with an individual who has much at stake in a company – whether it’s just a job, equity, leadership position, or just plain reputation. 
So if the idea is presented by an outside advisor, that advisor should invest into the relationship and over time gain the trust that is necessary to execute the idea presented. 
Additionally, new ideas typically require a lot of work above and beyond the normal day to day responsibilities of the status-quo. So it is imperative to obtain buy-in from every individual that will be involved in the process. 
You know how the saying goes, a chain is only as strong as its weakest link. That, I believe is one of the biggest hurdles companies need to overcome when considering new ideas. Everyone has to be on board so that it is properly implemented and successfully launched. 
My 1.5 cents.

Jacoline Loewen, 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

Does your business have lumpy payments?


If your business doesn’t have enough cash, you will be under stress. That is something I experienced first-hand. When you don’t have enough cash, you feel pressure to take any client who shows interest. This is usually a mistake. Trying to be all things to all people is a downward strategy.
Most owners understand this. When you are under pressure to pay your bills, it’s hard to say no — even if the customer is outside of your target market. You need money, you take the business, and you often end up spending too much time serving the customer. And if you stay in this cycle, you put your business at risk. When you own a microbusiness, burning time is just like burning money.
Several years ago, I did some work with a graphic design firm, Gray Cat Studio. Michelle Bisceglia, the owner, had built a knowledge base working with specialty food manufacturers. She knew a great deal about the businesses and what made them successful.
When I first started working with her, she would take work from anyone. She often lost money when she went outside her knowledge area, but like many microbusiness owners, she was often short on cash.
We worked on developing her niche and I coached her in using a new word: No. Over time, two things happened. She was able to charge higher fees because of her expertise, and it took her much less time to complete projects. This allowed her to create a cash cushion, which made it even easier to say no to customers who didn’t fit her profile.
Two Paths for Microbusinesses
Ultimately, microbusiness owners have two choices. They can choose to remain a microbusiness, like Ms. Bisceglia, or they can do what I did in my previous business and move into the next level, the traditional SME. In both cases, understanding the drivers that create cash for living and saving is crucial. If you want to grow, you will not only need to finance your own living needs and retirement savings, but you also need to create cash for growth.
There is no good or bad about this decision. It’s truly about an owner’s preferences. Some people decide they want a bigger business, and some are happy just doing what they want without having to worry about managing other people.
If you choose to stay at the micro level, you need to understand that lumpy sales exist and you must have a strategy for dealing with them. You should have a plan in place in case you become disabled. You should have a strategy for saving for retirement, because you will not be able to sell your business.
What do you think? If you’re a microbusiness, what are your challenges? Have you decided to stay at this level?
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

November 13, 2012

The Asian Century will switch from 'quantity' of growth to quality

Will China perform as many experts say it will" Here is the journal of a recent trip to asia by a Goldman Sacks leader"
In the first decade of the Asian Century, much of the story has in effect been about the 'quantity' of growth rather than the quality and sustainability.
This is especially true with respect to China as I shall discuss in more detail, but also for India, Indonesia and others (if not, of course, in Japan where it has been and remains the absence of either). I introduce the aspects of my trip in this context because I think part of the challenge right now is that markets had become used to the drug of the quantity of growth in the region.
And importantly, in terms of our expectations, we never were and are still not, assuming that the same intensity of nominal and real GDP growth will continue.
For this decade, 2011-2020, for example, we are assuming that China will grow on average by 7.1%, down from 10.5% the last decade, and India 6.5% down from 7.5%. We are expecting the N-11 countries to see their real GDP accelerate to around 5.3% from 4.2%, but this would not be powerful enough to offset the softer Chinese and Indian growth in aggregate.
Let me re-emphasize that if China, India and the Asian N-11 countries achieve what we assume, their share of global GDP will rise sharply and the world will probably grow faster than previous decades, despite their softer growth rates.
 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

What forces a business to change for the better?

People just go to the office, grab a coffee, do the stuff they were trained to do 10 or 20 years ago, go to the meetings in their calendar and go home, its a wonder anything changes at all anywhere. 
New companies do new things sometimes, but then stagnate. 
The way of the world, with exceptions I'm sure, is sadly that external crises only stimulate change. 
You all must have seen the same yourselves for the new ideas you've seen. 
Once people are in the comfort zone that's it, they're staying there.
Buy Money Magnet, by Jacoline Loewen, learn new ways to find money for your business.

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