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Forward Motion Business Coaching » Personal Financial Analysis http://forwardmotionbusinesscoaching.com Direction Makes All The Difference Wed, 04 Jun 2014 20:05:05 +0000 en-US hourly 1 https://wordpress.org/?v=4.0.24 Copyright © Carrozza Associates 2013 cai4admin@comcast.net (Forward Motion Business Coaching) cai4admin@comcast.net (Forward Motion Business Coaching) 1440 http://forwardmotionbusinesscoaching.com/wp-content/uploads/podcast_logo_144x144.jpg Forward Motion Business Coaching http://forwardmotionbusinesscoaching.com 144 144 Direction Makes All The Difference Forward Motion Business Coaching Forward Motion Business Coaching cai4admin@comcast.net no no A Business with No Plan Means No Business http://forwardmotionbusinesscoaching.com/a-business-with-no-plan-means-no-business/ http://forwardmotionbusinesscoaching.com/a-business-with-no-plan-means-no-business/#comments Thu, 23 Jun 2011 17:02:27 +0000 http://forwardmotionbusinesscoaching.com/blog/?p=199 How Not to Be Another Statistic

by Executive Coach and Keynote Speaker Carmen Carrozza

Do you know how many businesses opened their doors in the U.S. in 2009?  Over 552,000.  That is a great amount of Americans who have taken the ultimate chance, putting the life of their family and a good portion of capital on the line.

Now for the bad news.  More than 660,000 businesses closed their doors in that same year. Another statistical fact is that over 50% of businesses don’t make it to celebrate their 5th anniversary.What is the reason for this degree of failure?

Here are the main reasons in order:

1. Lack of Experience

2. Insufficient Capital

3. Poor location

4. Poor inventory management

5. Over-investment in fixed assets

6. Poor credit arrangements

7. Personal use of business funds

8. Unexpected growth

9. Competition

10. Low sales

Yes, there is a common thread that could lead to any of these.  A bad business plan or a lack of one altogether. There are businesses that succeed without a solid business plan, but those are far and few between.  Are you willing to put it all on the line and “Hope for the best?”  That, my friends is crazy.

Whether new or existing, every business in this complex global, digital and economic environment needs to be on top of their game.  Without forward critical thinking, any business is at risk.

Post any questions or comments you have about business plans and I will be glad to respond to all of them as we travel this road.

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Forward Motion: The Art of NOT Looking Back http://forwardmotionbusinesscoaching.com/201/ http://forwardmotionbusinesscoaching.com/201/#comments Tue, 05 Apr 2011 20:46:46 +0000 http://forwardmotionbusinesscoaching.com/blog/?p=201 by Executive Coach and Keynote Speaker Carmen Carrozza

Every time you have to make a decision, what is your processMost people think about what they did in the past and then formulate a response.  Think about the repercussions of this lack of foresight.  Yes, it is important to learn from the past.  That doesn’t mean our decisions should be totally influence by our past experience.  One mental process the most successful people use when decision-making is, “What can I do that will create the result I am am looking for.” It may have nothing to do with past results, rather it is about what they want to accomplish.

So, next time you are going through that moment in the decision making process when you search your brain cells for what you did before, even if it was successful, shut it down and explore your creativity and see if there are alternatives that inspire you to think in  Forward Motion.

Need help with this practice?  Contact me today at 888.616.COACH (2622)!


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A Coaching Radio Show That Goes Beyond "Normal" http://forwardmotionbusinesscoaching.com/a-coaching-radio-show-that-goes-beyond-normal/ http://forwardmotionbusinesscoaching.com/a-coaching-radio-show-that-goes-beyond-normal/#comments Fri, 22 Oct 2010 16:53:43 +0000 http://forwardmotionbusinesscoaching.com/blog/?p=128

Lawrence Smith of the FASB

Listen live online every Tuesday at 4pm on wgch.com.

It would be quite normal for a business and life coach to have a radio show  that is about self help and guests that speak about coaching and self-help.

Not Forward Motion.  My weekly radio program, heard locally on 1490 WGCH out of Greenwich CT and live streamed at www.wgch.com, is much more than that.  My goal is to talk about topics that affect businesses and individuals every day, then discuss ways to overcome obstacles, control what is controllable, and provide guests that add value to my listeners.

Carmen making a point on "Forward Motion."

I want everyone out there to be aware of what is really going on in our economy, and the effectiveness and rapidity to which our leaders respond.

My guests have included Lawrence Smith, a member of the Financial Accounting Standards Board,  Carla Rose Fisher, editing, writing and marketing guru, and Sal Provenzano, insurance expert.

Seated is Carla Rose Fisher, also a regular with Carmen.

I have entrepreneurs, professionals and businessmen, anyone that can tell their story that helps you, whether it be their successes, failures, obstacles they have overcome, or pure information to help your business become more successful.

Business and life are complex, taking into consideration global commerce, technology and unlimited communication.  You have to be prepared to move forward with focus and determination.

I believe one of the only ways to reach your goals and dreams today is with a professional coach that is a guide, and knows how to take you on a journey to new levels of confidence and success.

Carmen with Sal Provenzano of Rand Insurance in Greenwich, CT.

Tune in every Tuesday at 4:00EST or listen to podcasts at www.wgch.com.

Your business and your life can’t wait.

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Jobless Recovery? The Real Story http://forwardmotionbusinesscoaching.com/jobless-recovery-the-real-story/ http://forwardmotionbusinesscoaching.com/jobless-recovery-the-real-story/#comments Fri, 03 Sep 2010 17:08:02 +0000 http://forwardmotionbusinesscoaching.com/blog/?p=165      The economy is in horrendous shape.  The word “Recovery” is constantly thrown out there in the media to keep everyone off balance and give us a false sense of security.  Now, I am a business and life coach, and as such, I help my clients become more skilled, productive and inspired.  I also believe in keeping things real.  Trying to make the economy look much better than is like throwing a blanket over a messy desk; it doesn’t make it all go away.  Here are some recent facts that give you some clarity as to where we are:

Unemployment- The rate rose to 9.6% on September 3rd

Payroll Employment- Dropped by 131,000 in July.

An average of 485,5oo weekly applying for unemployment benefits.

Over 6 million Americans have been out of work for at least 6 months.

1609 mass layoff events, losing 143,703 workers in July.  Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance  filed against them during a 5-week period. 

Labor Productivity- Decreaesd 1.8% in second quarter of 2010

Consumer Confidence- Stands at 50.4, in good times it runs in the 90’s. 

Existing Home Sales- Down 27%, worst month in over 15 years, in the lowest mortgage rate environment in history! 

New Home Sales-  Down 12.4%

70% of our economy depends on consumer spending: No jobs, no money. 

Banks- Not lending to small business

Small Business- Not hiring due to lower profits, concern over new tax and medical care costs.

     Does any of this give you the feeling that we are in a recovery?  What we are, is in a state of emergency in the United States.  Instead of casting blame at others, the White House should be putting incentives in place to bring jobs back to our country along with factories and manufacturing plants that have been moved abroad.   Instead of taking another vacation, the President should be putting together a lending plan for  small business, without strings attached.  Instead of playing elitist to the middle class, he should be financially supporting emerging companies that are driven by clean energy, environmentally safe products and safe foods , all that create jobs, rather than saving companies that helped put us in this disastrous situation. 

Tough times for most Americans.

     What we need is true leadership.  Leaders put effective plans in place that aggressively meet the goals and objectives of the group they lead, in this case, the American people.

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Oil and Obama Don't Mix http://forwardmotionbusinesscoaching.com/oil-and-obama-dont-mix/ http://forwardmotionbusinesscoaching.com/oil-and-obama-dont-mix/#comments Tue, 08 Jun 2010 13:18:50 +0000 http://forwardmotionbusinesscoaching.com/blog/?p=126 Are we all starting to understand the catastrophic nature of the Gulf oil leak?  One of the more attractive, tourist driven areas of our country is being destroyed due to greed, lack of preparation and very poor oversight.  And on top of all of that, our President feels compelled to sing “Michelle” to the minstrel-ling of Sir Paul McCartney, rather than show the American people at least the perception that he is proactively developing a plan of action that will not devastate the Gulf Coast, wildlife and thousands of businesses and families that depend on the fishing trade and tourism  to survive.

Obama and McCartney play while the oil spills and destroys the Gulf

We live in very complex world, and anything can happen during the watch of any president.  What differentiates great leaders from the rest is how they react, the decisions they make, and how they communicate with the American people.  To this end, Mr. Obama has done a very poor job.  His lack of ownership of the spill has been obvious from the start.  When he finally showed up at the Gulf 12 days after the spill began, he lacked any sense of urgency, and did not assure his fellow Americans that he developed an aggressive plan.

In business as in politics, great leaders are seen as taking charge, dealing with issues head on, and taking responsibility for things that go wrong, while thanking the group when there has been success.  This is not the behavior I have seen in any way, shape or form by this President.

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Bleak Job Market is Here to Stay, for Now http://forwardmotionbusinesscoaching.com/bleak-job-market-is-here-to-stay-for-now/ http://forwardmotionbusinesscoaching.com/bleak-job-market-is-here-to-stay-for-now/#comments Tue, 02 Mar 2010 19:50:30 +0000 http://carrozzacoaching.wordpress.com/?p=120 The time to seek out a coach who can help launch you into the direction that you want and deserve is now!  This is not a time to stand still; there can be severe consequences.   Opportunities are all around you.  With support from a coach, you will see through the cloudy present and design your own future.

Here are some recent examples of the continued decline in employment:

Article from TheStreet.com

Layoffs Continue to Mount

By Jeanine Poggi 02/24/10 – 01:31 PM EST

Boeing(BA Quote) announced on Feb. 19 that it had sent out more than 1,000 layoff notices. The majority of the employees laid off are technology workers in Washington state and California.

Those who received the notice are at risk of being laid off on April 23. Not everyone who received a notice, however, will be let go.

The layoffs are part of 10,000 jobs cuts that Boeing originally planned for 2009. When Boeing did not complete the layoffs last year, its management announced that it would finish the job of laying off the workers in 2010 — and might ultimately lay off more workers than the original 10,000 that were projected

Health insurance giant Humana (HUM Quote) announced on Feb. 17 that it will cut 2,500 jobs in 2010.

But Humana will also add 1,100 new positions, making the net job loss at the company 1,400, or 5% of its workforce.

Humana did not reveal where the layoffs would come from, but did say that new jobs are expected in medical-cost containment capabilities, pharmacy management and specialty products.

Ford Motor(F Quote) announced on Feb. 16 that it plans to cut 900 jobs at a Mustang factory.

The auto maker attributed the layoffs to slow sales last year and increasing competition from Chevrolet’s Camaro.

The Michigan plant currently employs 2,300 people. Most of the layoffs will be hourly manufacturing workers, but some salaried staffers will also be eliminated.

It’s worth noting, however, that Ford previously announced plans to hire 1,200 workers at its Chicago Assembly Plant to build the new Ford Explorer, along with 1,000 people in Michigan to make electric car batteries.

Merck(MRK Quote) announced a new restructuring program on Feb. 16, expecting to reduce its workforce by 15% by the end of 2012. The company currently employs 100,000 workers.

Merck said it is “committed to achieving” its previously announced savings target of $3.5 billion in 2012.

Boston Scientific (BSX Quote) announced on Feb. 10 that it plans to lay off as much as 10% of its work force in an effort to cut costs.

The news came after the medical device company forecast 2010 profit and sales below analysts’ expectations.

Boston Scientific will cut between 1,000 and 1,300 jobs, a move it says will trim 5.5% to 7% off its annual expenses.

It will eliminate its international headquarters and consolidate other departments.

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The Big Banks Will Never Get it Right http://forwardmotionbusinesscoaching.com/the-big-banks-will-never-get-it-right/ http://forwardmotionbusinesscoaching.com/the-big-banks-will-never-get-it-right/#comments Tue, 02 Mar 2010 19:19:56 +0000 http://carrozzacoaching.wordpress.com/?p=116 They are entrusted with our hard-earned paycheck, along with holding our savings and sometimes even our funds for retirement.  Why do we find it so hard to trust them?  The answer is they don’t know how to focus on clients, they focus on the bottom line.  You will here it differently in their marketing campaigns.  How they care, what they will do for you, so on and so on.

Read the following article to see you are not alone in your feelings towards these mammoth institutions:

The Least-Trusted Banks in America

by Jennifer Saranow Schultz
Tuesday, February 9, 2010

provided by
The New York Times

Customers of the biggest banks in the United States are the least likely to believe their financial institution does what’s best for them as opposed to what’s best for the bottom line, according to a new report from Forrester Research.

The report, Forrester’s annual Customer Advocacy rankings, ranks nearly 50 financial services firms in the United States by the percentage of each firm’s customers who agree with the statement: “My financial provider does what’s best for me, not just its own bottom line.” The results are based on a survey of about 4,500 consumers.

The bottom seven of this year’s rankings, first to last, are Bank of America, Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC.

Among Bank of America customers, 33 percent agreed with the statement above, while 31 percent of Chase customers agreed, 29 percent of Capital One customers agreed, 28 percent of TD/Commerce Bank customers agreed, 27 percent of Fifth Third Bank customers agreed and 26 percent of Citibank customers agreed.

Among HSBC customers, only 16 percent said they agreed with the statement, the lowest customer advocacy score ever reported in the United States, down 10 percentage points from HSBC’s score last year and in line with other recent similar poor rankings of other HSBC units.

An HSBC spokesman declined to comment on the survey, since he hadn’t seen it yet.

To put the rankings in perspective, large banks have generally been at the bottom of the list since the survey was initiated seven years ago, and many of the banks have alternated between the bottom spots year to year, said a Forrester vice president, Bill Doyle, who wasn’t aware of anything particular HSBC has done recently that would make its score so low. Last year, for instance, Capital One was at the bottom with 22 percent of its customers agreeing with the statement. In fact, the more customers a banking institution has, the lower its customer advocacy ranking is likely to be, according to Forrester.

Why the poor rankings for the big banks? “Part of it is that the banks are preoccupied with their bottom line. They are public institutions who are in business to make money for their shareholder and inevitably, that shows to customers,” Mr. Doyle said.

A high customer advocacy ranking means that customers tend to believe their bank takes their side in disputes, does what is right even if it’s not required by regulation to do so, gives fair rates or performance comparisons and is clear about charges and fees, Mr. Doyle said.

Wells Fargo/Wachovia, by contrast, did better than the other big banks. About 40 percent of its customers said they believed the bank does what is best for them, with Wachovia’s customers probably pulling up Wells Fargo’s ratings, Mr. Doyle said. Wachovia has generally done substantially better in the rankings than the other big banks.

According to Mr. Doyle, customer advocacy rankings are a predictor of customer retention and attrition, and customers who rate their financial service firms high are more likely to consider their firm for additional products. In contrast, customers who give their banks a low ranking are most likely to switch in the next year and are “going to be reluctant to put any more money and open new accounts at those institutions,” Mr. Doyle said.

This means the low rankings don’t bode well for the bigger banks, many of which are reaching federal limits for how much they can increase deposits by acquiring other banks and must rely on attracting more customers to increase revenue.

Credit unions ranked higher than the big banks, as they have in earlier years, with 70 percent of credit union customers saying their financial institution puts their interests first. Mr. Doyle said this is because of credit unions’ different operating model — they are owned by customers — and because they tend to emphasize customer service.

After credit unions, the bank run by USAA, a financial services company that serves the military and their families, came in next with 64 percent of its customers agreeing with the statement. It was followed by ING Direct, with 46 percent. Regional banks including PNC, U.S. Bank and BB&T came in next with rankings similar to Wells Fargo/Wachovia. Regional banks, which often can’t afford big advertising campaigns, tend to emphasize customer service, Mr. Doyle said.

Insurance firms, meanwhile, remained the highest rated firms for customer advocacy, with more than half of all customers rating their insurers high on customer advocacy and insurers representing two-thirds of the firms in the top half of the rankings. The ranking of investment firms, meanwhile, fell below banks for the first time since the rankings began. Investment firm rankings tend to fall when the market isn’t doing well, Mr. Doyle said.

Until banks consider a change in their business model, these are the results they should expect.  The reality is there is not a concerted effort to change, thanks to the huge profits they are making.

If you want to feel some love, use local or regional banks.  They tend to offer more care for their client.

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Jobs and the Economy: Short-Sighted Decisions http://forwardmotionbusinesscoaching.com/jobs-and-the-economy-short-sighted-decisions/ http://forwardmotionbusinesscoaching.com/jobs-and-the-economy-short-sighted-decisions/#comments Thu, 17 Sep 2009 16:49:38 +0000 http://carrozzacoaching.wordpress.com/?p=80 You hope, you listen, and you hope some more. Some economists and government officials keep telling us the worst is over, the recession is easing and we are on the way back. Do you believe that? I certainly don’t. Sure, the Dow is up about 2,800 points since it bottomed out at approximately 6,500. But what does that mean to me and you?

The reality is that this is a modern-day depression. There are over 7m people out of work since the end of July 2007, bringing the total unemployed to better than 14m. We are inching up to the 10% out-of-work mark, which is only a few months away. They tell us the good news is the monthly actual increase in unemployed has decreased to 216m in August from a high of 741m in January.

I liken this type of thinking to that of a dam breaking and water slowly flowing over several towns, wiping out homes, businesses and lives.  After some time has passed, they tell you the good news, that the water has stopped flowing from the break in the dam. What they don’t tell you is that the towns are destroyed and now underwater. Many large organizations have trimmed down to bare minimums, while others have folded. Thousands of small businesses have disappeared. That is reality.

The only thing that gets any economy headed back in the right direction is the ability for people to spend money.  This so-called recession has affected every class. Between folks trying to save their home, pay down existing credit and attempting to save their credit rating, they do not have the money or ability to spend. Many of those who are lucky enough to still be working, are disengaged at their job, adding another layer of consumers not buying, mainly due to fear of losing their job.

The disastrous economy we are facing will be here for a long time. There are many directions it can take. Every individual needs to change the way they think about prosperity in order to take our economy in a new direction. We have become used to luxurious lifestyles and fairly safe employment conditions. In order to meet the challenges in our near future, it will take a strong will to move forward with less. If we can do it, maybe the values that made this country great will return and help us and our children keep life in better perspective.

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What is the National "Conscience" Today http://forwardmotionbusinesscoaching.com/what-is-the-national-conscience-today/ http://forwardmotionbusinesscoaching.com/what-is-the-national-conscience-today/#comments Thu, 14 May 2009 16:39:47 +0000 http://carrozzacoaching.wordpress.com/?p=57 I was in church last week listening to the sermon, when I heard the word conscience used.  I immediately started to think about the past year and how we have all been affected financially and morally.  The financial markets have lost up to 50% of their value, taking 11 trillion dollars of savings with them.  Over 6 million jobs have been lost, with many major U.S. financial firms and  national companies filing for bankruptcy.

We have seen the reality of  what has been going on for about 25 years in this country;  The proliferation of greed has grown from the building up of Corporate America for the purpose of profit rather than better products and services for the public. Oversight agencies, supposedly in place to protect the public, turned their heads to the lack of financial ethics and product integrity proliferated by banks, brokers and other investment companies.

Almost anyone could obtain access to thousands of dollars instantly through multiple=

As this process developed through the years, we all became sucked in to the madness.  Extended credit, creative mortgages, and spending discretionary income like we were entitled to every new flat screen and cell phone are examples of how citizens have dramatically impacted this financial calamity.

You here we are all at fault for the financial collapse.  Wait a minute, is a child responsible because they have been spoiled by us?  Or is the parent?  We always here that this is a democracy and a capitalistic business environment.  Well guess what, when you give something to a human being, instinctively we do not like to give it back.  A higher line of credit, instant approvals, easy, free, simple…we were pushed to buy products and services to keep the economy moving in a positive direction.

When it all went wrong, we were part of the problem.  I submit that there needs to be some controls in place in order to preserve our quality of life.  We need to back up, and become a simpler society.  The only way to accomplish this feat is by the people becoming empowered to create change.

Conscience.  All of us need to have one in order for our country to move forward intelligently.  Our children will be depending on it.

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What Can A Coach Do For Me? http://forwardmotionbusinesscoaching.com/what-can-a-coach-do-for-me/ http://forwardmotionbusinesscoaching.com/what-can-a-coach-do-for-me/#comments Mon, 06 Apr 2009 19:32:11 +0000 http://carrozzacoaching.wordpress.com/?p=47 Every time someone asks me what I do and I respond, “I’m a coach,” they give me the funniest look.  “I partner with people and businesses that have raised the bar for themselves and want to remove all the barriers that have held them back.”

Coaching is not a profession easily explained.  One of the ways I try to relate my profession to others is to speak of athletes.  If you are a tennis fan, Rafael Nadal, the number one male player today, has a coach, Toni Nadal.  Nearly every professional and top college football team has a coach just for their quarterbacks.  Top executive in major companies have coaches to help them refine skills, such as communication, presentations and associate relations.  Why would successful athletes and business persons want a coach?  They have discovered what the rest of the world is finding out, coaches are totally committed to their success.

Rafael Nadel looks to his coach, Toni Nadel during the Australian Open this year.

Rafael Nadal looks to his coach, Toni Nadal during the Australian Open this year.

A coach is there to help you bring out the best you want to be.  It is very hard to realize our own areas where we can improve.  Even more difficult is completely understanding how well we do other things.  Sometimes things come so easily to us, we don’t consider it an advantage.  We sometimes think what we do everyone else can do too, and do not realize the value in that particular nuance.  These assumptions can limit growth and the ability to take advantage of what we already have.

The reason successful executives, business owners, athletes and those in the arts and entertainment industry have coaches, is their realization that they can not do it alone.  Friends and family are usually too close to you and don’t have the time and skills to develop you to your full potential.

The reality, we can all use a coach.  Someone there totally for your benefit whose goal is the same as yours, to excel and find success in your career and life.

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