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November 28, 2023

Ask the Owners: Elevate and Excel

The Strategic Evolution Blueprint for Funeral Home Owners In our next installment of Ask the Owners, Stephen and Diann Anderson, formerly of Anderson Funeral & Cremation Services discuss strategies funeral home owners and cemetery operators must take in order to elevate their businesses: Embarking on Strategic Evolution We are continuing in our series of articles; we hope that last month’s insights prompted you to have meaningful reflection.   We laid the groundwork, urging you, as a business owner, to embrace the transformative journey of strategic evolution. We explored the historical backdrop of our profession, the pitfalls of resisting change, and current funeral industry trends. Introducing the concept of Purpose Beyond Profit, we encouraged you to ponder the profound impact of your work. In this installment, we delve deeper into Strategic Evolution, emphasizing its pivotal role for your company. We’ll also underscore the […]
November 28, 2023

Scaling the Technology Iceberg

Key Indicators to Elevate Your Virtual Presence In my last Memento Mori article, I wrote about the growing and essential importance of having your website truly be your virtual business as well as how online reviews are now more crucial than ever. However, that is only the tip of the proverbial iceberg. Relating your virtual business website to your physical location—and the general physical concepts regarding “curb appeal” and “location, location, location” being such vital components in real life—there are foundations you should understand to help ensure that you avoid “not standing out” and “being invisible” in a busy marketplace as the Seth Godin quote so eloquently captures. There are approximately 5.18 billion internet users in 2023 (versus a world population of about 8.1 billion)— that is 64% of ALL people on this earth utilizing the internet in some form […]
November 28, 2023

Finance 301: Chapter 23: The Intersection of the Annual Business Plan and Your Life Plan

Every year for almost 40 years, I have worked with funeral home owners and managers, as well as cemeterians, to create their annual business plans. As I prepare to exit my chosen career, I want the next-to-last lesson plan I offer you to be about, er, well… planning. I have learned more than I ever thought possible about planning for my lifetime, so allow me to be your wise “Uncle Murray” this month. The “big picture” is actually not one image but more like a jigsaw puzzle, made up of all sorts of pieces, small and large, that together form your life. While those of you who chose to become business owners have a picture within the big picture called your business, each individual’s pieces should all fit together to form their life plan. It’s only after retiring that you […]
October 26, 2023

Ask the Owners: The Changing Funeral and Cemetery Profession

In our next installment of Ask the Owners, Stephen and Diann Anderson, formerly of Anderson Funeral & Cremation Services discuss the changes taking place within the funeral and cemetery profession and provide firsthand insights on how to adapt and evolve to meet these changes: Dear Friends, It’s been a month since we last connected, and we’ve been on a reflective journey. We’ve found ourselves pondering the true impact of the Funeral Profession not just for those who have chosen the calling to own a funeral home or to be a Funeral Director, but also for the families and communities we serve. We’ve asked ourselves a question that might resonate with you: Have you ever felt like your “Give a Damn” spirit has broken?  If so, let’s embark on a transformative journey together, one that will help us better serve those […]
October 26, 2023

Ask the Analyst: Setting Up Your Budget for the Upcoming Year

The new year may seem like it is far away, but there are just a mere 10 weeks left. While owners and operators have to keep their eye on the ball in order to maintain a strong finish to the year, simultaneously they must also keep the future in focus. This means, budgeting for 2024.  We asked Senior M&A Analyst, Jared Tanke to further elaborate on this process. Question: I am in the process of starting my 2024 business plan for my funeral home. What is the first step that I need to take to create a successful plan? Jared Tanke: Budgeting for a funeral home is absolutely critical to maintaining quality service, having adequate reserves for upgrading facilities, and navigating the constant changing landscape of the profession. Having a well thought out planning session where you lay everything on […]
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