If you are a business owner who does not take ancillary fees/revenue then you are failing. The #1 rule of any for profit business is to maximize shareholder value. Even if there is only 1 shareholder. You are doing a disservice to the business if you leave that money on the table. The fee maxing course is a great one everyone should look at. And no I am not a paid spokesman for it, the reality is, it gets you thinking about what fees make sense for your business and gives you guidance on implementing those. Why wouldn't you want to make more money???
For the conference, my wife and I were just talking yesterday and we both agreed that keynotes are a waste of time. People attending because they want their business to grow and be more successful. Not because they need some rah-rah BS from an overpaid hype person. Skip those sessions and use the time to network with your peers and vendors.
The vendor show should absolutely have opened on day 1. No excuse for not. If people want to go to the vendor show instead of a session, then let them. We're all adults here, not school children.
I see the viewpoint about how "any for profit business [should] maximize shareholder value."
Do you extend this to the fiduciary responsibilty of our owner-clients?
As in, if you receive ancillary revenue from a resident in the form of the delta of a benefit package, a broker fee, etc, does the owner see any of that revenue?
If you are a business owner who does not take ancillary fees/revenue then you are failing. The #1 rule of any for profit business is to maximize shareholder value. Even if there is only 1 shareholder. You are doing a disservice to the business if you leave that money on the table. The fee maxing course is a great one everyone should look at. And no I am not a paid spokesman for it, the reality is, it gets you thinking about what fees make sense for your business and gives you guidance on implementing those. Why wouldn't you want to make more money???
For the conference, my wife and I were just talking yesterday and we both agreed that keynotes are a waste of time. People attending because they want their business to grow and be more successful. Not because they need some rah-rah BS from an overpaid hype person. Skip those sessions and use the time to network with your peers and vendors.
The vendor show should absolutely have opened on day 1. No excuse for not. If people want to go to the vendor show instead of a session, then let them. We're all adults here, not school children.
As always, love the content Todd! Keep it coming!
Hey Robert,
I see the viewpoint about how "any for profit business [should] maximize shareholder value."
Do you extend this to the fiduciary responsibilty of our owner-clients?
As in, if you receive ancillary revenue from a resident in the form of the delta of a benefit package, a broker fee, etc, does the owner see any of that revenue?