Pause, Look Back, Move Forward: The Power of Gratitude in Goal-Setting

Pause, Look Back, Move Forward: The Power of Gratitude in Goal-Setting

Before you rush into planning your next quarter or next big initiative, pause. Look back. Take stock. Appreciate the progress you’ve already made. The gratitude you practice today becomes the foundation that supports tomorrow’s success. Want to make gratitude part of your team’s rhythm? Here are a few practical ways to start:

  • Host a “Wins & Lessons” Session:
    Before jumping into planning, hold a meeting dedicated to looking back at successes and takeaways from the past quarter or year.
  • Create a Gratitude Wall or Digital Board:
    Give employees a place—physical or online—to shout out teammates and acknowledge moments worth celebrating.
  • Send Personal Thank-You Notes:
    Leaders can make a big impact by sending thoughtful, specific thank-you messages to team members, clients, and partners.
  • Share “Grateful Moments” in Internal Comms:
    Add appreciation stories to newsletters, meeting kickoffs, or monthly updates.
  • Review Client Testimonials and Success Stories:
    Revisit positive feedback as a team to remind everyone how their work makes a difference.

Gratitude isn’t just a warm, fuzzy feeling. It’s a powerful, strategic habit that can shape the future of your business. Here’s why slowing down to appreciate the journey before setting new goals is so valuable:

It Builds Resilience and Positivity:
Business can feel like a rollercoaster. There are highs, lows, surprises, and detours. When you look back at what your team has accomplished—the projects finished, the client problems solved, the tough moments you managed to navigate—you build a storehouse of positive reminders. That kind of mindset helps you stay steady and optimistic when you hit the next bump in the road.

It Reveals Hidden Strengths:
Taking time to recall what went well often uncovers why it went well. Maybe it was great teamwork. Maybe someone’s creative idea unlocked a solution. Maybe a process quietly carried the team through chaos. When you spot those strengths, you can intentionally use them again instead of constantly reinventing the wheel.

It Boosts Employee Engagement and Retention:
People want to feel seen and appreciated—simple as that. When leaders take time to recognize specific contributions, it builds a culture where people feel valued and connected. Employees who feel appreciated are more motivated, stick around longer, and become real partners in achieving future goals.

It Strengthens Client and Partner Relationships:
A genuine “thank you” goes a long way—not just inside your company, but outside too. Letting clients and partners know you appreciate their trust, flexibility, or collaboration deepens those relationships. Strong relationships make future goals easier to reach, whether that’s launching new projects, renewing contracts, or trying something innovative together.

It Encourages a Culture of Learning:
Even the tough moments—the failed attempts, the missteps, the headaches—hold lessons. Gratitude helps shift the mindset from “that went wrong” to “here’s what we learned.” This approach helps build a culture where challenges become stepping stones, not roadblocks.

In today’s fast-moving business world, it’s easy to stay locked into “what’s next” and forget to look back at “what just happened.” We naturally focus on fixing things, improving things, and pushing toward the next goal. But taking a moment to reflect—to really appreciate the wins, the progress, and even the tough lessons—can make a huge difference in how you set and achieve future goals.

 

How To Cut Expenses

How To Cut Expenses

Review processes with your staff.
Often, they know of things that are duplicative or no longer necessary.

Remember that software upgrade that improved efficiency?
Did you really rework your process to take advantage of the efficiency. Perhaps you no longer need that routine sign-off or other changes. Check all of these areas.

Check if you really need all your software subscriptions.
Those things just don’t let go and the costs can add up across staff.

Negotiate anything worth the time.
Obtain three bids. While usually this seems like extra work it often can reduce costs signficinatly. We once reduced insurance costs 50% which was a very material number.

Look at your management structure.
Do you have a layer or layers that really are not necessary? Can these people do some production or sales along with management?

Training.
While training in the short term is an expense in the long term it allows your staff to be more efficent and do higher level things. For many companies well trained staff is the key to efficent growth. Do you have a plan for each person? How are you training and advancing your people?

Capital Costs.
There is a reason CNC machines replaced saws and drills. You do not want to overinvest, but at some point equipment needs to be added or updated to be competative. If you have a lot of equipment, you should have a replacement schedule as a guide that highlights when to review each piece and what is needed in the future for your budgets.

Develop a planning process.
These things should be part of a planning process that includes KPI’s, projections, training and capital investments, and is monitored at least monthly at each level of the company.

 

Does Cutting Expenses Help Increase the Business Value of a Company?

Does Cutting Expenses Help Increase the Business Value of a Company?

Cutting expenses can potentially increase the value of a company, but it depends on the specific circumstances and the approach taken to reduce expenses. Here are some factors to consider:

  • Impact on profitability
    Reducing expenses can improve profitability, which is a key driver of a company’s value. However, if the expense cuts negatively impact revenue or customer satisfaction, the overall effect on profitability may be minimal or negative.
  • Quality of expense cuts
    Simply cutting expenses without considering the impact on the business can be counterproductive. Effective expense reduction requires careful analysis of each expense category, prioritizing areas that have the least impact on the business and identifying opportunities for cost savings and efficiency gains.
  • Impact on employees
    Expense cuts may require reducing employee compensation, benefits, or headcount. This can negatively impact employee morale, productivity, and retention, which can have long-term negative effects on the business.
  • Industry and competitive context
    Expense cuts should be evaluated in the context of the industry and competitive landscape. For example, if competitors are investing heavily in research and development, cutting R&D expenses may put the company at a disadvantage.
  • Long-term vs. short-term impact
    Expense cuts may have a short-term positive impact on profitability, but if they limit the company’s ability to invest in growth opportunities, the long-term impact on value may be negative.

Overall, cutting expenses can potentially increase the value of a company if it is done in a strategic and thoughtful manner that considers the impact on profitability, employees, industry and competitive context, and long-term growth opportunities. However, expense cuts alone are not a guarantee of increased value, and should be part of a broader strategy to drive growth and profitability.

The Right Customers Can Increase Business Value

The Right Customers Can Increase Business Value

You may know that the quality of your employees can greatly impact the value of your business, but are you aware how your customers are affecting your profitability? It is important for businesses to identify customers who may be challenging to work with or who may cause problems that could affect the business’s reputation, profitability, or operations. Here are some signs that a customer may be difficult or problematic:

Demanding or unrealistic expectations
Customers who have unrealistic expectations or who demand special treatment or accommodations may be difficult to satisfy, and may require more time and resources than other customers.

Chronic complainers
Customers who frequently complain or criticize may be difficult to please, and may have a negative impact on other customers and employees.

Late or non-payment
Customers who consistently pay late or do not pay at all may cause cash flow problems for the business and may require extra attention and resources to resolve.

Disrespectful or abusive behavior
Customers who are disrespectful or abusive towards employees may create a toxic work environment and may harm employee morale and productivity.

High maintenance
Customers who require a lot of attention, follow-up, or support may require more time and resources than other customers, which can be challenging for businesses with limited resources.

Attracting the right customers is essential for the success and growth of any business. Here are some strategies that can help a business attract the right customers:

  1. Define your target audience: It’s important to have a clear understanding of who your ideal customer is, including their demographics, interests, needs, and pain points. This will help you tailor your marketing messages and strategies to better appeal to your target audience.
  2. Create a strong brand: A strong brand can help you differentiate your business from competitors and establish a unique identity that resonates with your target audience. This includes developing a compelling brand message, logo, color scheme, and visual identity that reflects your values and personality.
  3. Provide high-quality products or services: Customers are more likely to return to a business if they receive high-quality products or services that meet or exceed their expectations. This includes focusing on delivering exceptional customer service and ensuring that your products or services are reliable, user-friendly, and effective.
  4. Develop a targeted marketing strategy: A targeted marketing strategy can help you reach the right customers through channels that are most likely to resonate with them. This may include social media advertising, email marketing, content marketing, or search engine optimization.
  5. Offer value and incentives: Offering incentives, such as discounts, promotions, or loyalty programs, can help attract new customers and encourage repeat business. However, it’s important to ensure that these incentives align with your overall business goals and are sustainable over the long term.
  6. Monitor and adjust your strategies: Regularly monitoring your marketing and customer acquisition strategies can help you identify areas for improvement and make adjustments as needed. This may involve collecting customer feedback, analyzing data, or conducting market research to stay ahead of changing trends and preferences.

Overall, attracting the right customers requires a deep understanding of your target audience, a strong brand identity, high-quality products or services, targeted marketing strategies, value and incentives, and ongoing monitoring and adjustments to your strategies.

SBA 7(a) Loans For ESOPs?

SBA 7(a) Loans For ESOPs?

In 2018 the Main Street Employee Ownership Act (MSEOA) was passed. It was thought the MSEOA would allow companies to get an SBA 7(a) loan for an ESOP transition. Unfortunately, the SBA requirements to secure the 7(a) loan for an ESOP transition made it unlikely that anyone to use it. They are still using a case-by-case approval process for ESOP loans. The NCEO outlines those requirements in a recent blog post.

This June, Congress introduced H.R. 8254. The Appropriations Committee report states:

Employee Ownership.–The Committee recognizes that employee-owned businesses are uniquely structured and provide wide-ranging benefits for businesses, workers, and the local economy. The Committee notes that the Main Street Employee Ownership Act, which Congress enacted in section 862 of Public Law 115-232, requires SBA to make structural changes in SBA lending programs to ease the challenges faced by employee-owned businesses in accessing financing. This legislation also requires SBA to use Small Business Development Centers (SBDCs) to establish an employee-owned business promotion program to provide assistance on structure, business succession, and planning. SBA is directed to fully implement these requirements. The Committee further directs SBA to work with the Departments of Agriculture, Labor, and Commerce to provide education and outreach to businesses, employees and financial institutions about employee-ownership, including cooperatives and employee stock ownership plans; provide technical assistance to assist employees’ efforts to become businesses; and assist in accessing capital sources.
https://www.congress.gov/congressional-report/117th-congress/house-report/393

If this bill gets passed, it may create a great opportunity for businesses to sell to their employees.