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Friday, March 11, 2005



Our second featured woman entrepreneur is Debby House, Founder and CEO of The Adare Group (Chicago, IL), a strategy and profitability consulting firm that has been working with CEOs to maximize profitability since 1981.

about Debby House and The Adare Group
The Adare Group (www.theadaregroup.com) is a boutique firm founded in 2001 with over 23 years of experience in corporate strategy, finance, accounting and organizational change management. The Adare Group distinguishes themselves by increasing client's profits by record amounts. This is achieved through the dissection and examination of external forces, rather than indiscriminate expense reduction. The company has obtained tens of millions of dollars in financing for many growing businesses, including McDonald's franchisees, by working lenders and equity investors. A CPA, Ms. House offers a wealth of experience from numerous financial executive positions including McDonald's Corporation, Amoco Corporation, GATX, and Fifth-Third Bank where she was responsible for ensuring key financial results.


Debby's Top 10 Tips

1. Solve your customer's critical problems
- Your customer will decides what problems are critical and urgent
- You should aim to be the easiest solution to a customer's problem
- You should also learn how to influence your customer's buying decisions

2. Be externally focused - "The Outside-In Approach"
- Analyze trends of external forces affecting your business
- Measure the relative power of your customer and supplier base
- Obtain competitor intelligence on traditional and non-traditional rivals

3. Make quick, tough decisions
- This will require you to track data on "profit events"
- Make critical choices between attractive alternatives
- Don't avoid tough decisions waiting for additional information

4. Measure actions that generate profits
- Remember to measure average profit per transaction, customer, product and employee
- But don't over-measure
- Start with the largest number on your P&L, Balance Sheet and Cash Flow

5. Don't let the stock market run your company
- Ignore Wall Street pressures and opinions
- Focus on managing your business, not your quarterly earnings
- Talking with your customers still means more than investment analysis

6. Innovate, Invest and Inquire
- Innovate: Creativity is cheaper in the long run than conformity
- Invest: It is risky but it generates long term profits
- Inquire: Curiosity produces innovation and reduces risk

7. Highly value customized products and services
- Charge for value
- Commodity products need a lean cost structure to maximize profits
- Customized products and services require customized processes

8. Only real profits pay the bills
- Focus on operating margins versus net income
- Keep in mind: cash is king
- Always question the numbers

9. Don't let processes get in the way of profits
- Evaluate processes by the profit they produce
- But don't get too attached to processes
- Be creative with customer solutions not business practices

10. Everyone must produce profits
- Tie team compensation to profits, not stock price
- Set up each position to contribute to profits
- In the end, there is simply no good reason for poor profit results


Contact Information

Debby House
CEO and Founder
The Adare Group, "profitability experts"
www.TheAdareGroup.com
630-399-7006

A big thanks to Debby for her wise words.


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