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  • Economics and Business Strategy Consulting

Economics and Business Strategy Consulting

Step 1

Dr. Bill Conerly is rare as a professional economist who understands business.

After earning a BA, MA, and PhD in economics, teaching college economics for three years and working as a corporate economist four years, I decided that I didn’t need to learn more economics—I needed to learn more about business. I joined a corporate planning department, earned the Chartered Financial Analyst (CFA) designation, and started a business.

Bill Conerly

He begins each project by learning the company. That includes reading materials about the company and its markets, as well as meeting with senior executives. This step usually results in a short-list of issues where his expertise in economics and business strategy can be applied. Sometimes he cannot help with the particular issues that are of top importance, but usually he can.

Step 2:

He uses a basic framework to begin with, which is captured in this graphic:

The importance of a specific element varies from company to company. The process of learning about the company enables him to identify the elements that will have the greatest impact on a company’s profitability.

Bill adds to this framework his view of the economic outlook. Depending on the company, he may be able to use “off the shelf” forecasts, but it’s common for him to do more detailed statistical modeling of input costs or sales potential.

Examples of the kind of insights that come from this analysis:

  • You optimized the mix of information technology and labor back when labor was cheaper and IT was more expensive. It’s time to automate more processes.
  • This segment of your business always turns up after the other segments. Stay calm, keep your leadership team in place, and wait for the segment’s sales to turn up.
  • Your primary market will rebound sharply in the recovery, but you haven’t estimated the financing you’ll need to fully exploit the opportunity. You should do cash flow analyses and then meet with your lenders.

The internal feedback element in the graphic illustrates the importance of measuring activities. People who are not used to pushing numbers around often underestimate the power of numerical feedback, and they often overestimate the difficulty of setting up a feedback system. For example, do your estimators regularly learn what actual project costs were? The workings of feedback systems are an integral part of economics, an often low-hanging fruit for improving a company’s profits.

Step 3

The strategic approach works with the same framework as the tactical approach, but with a few differences:

  • Strategy does not depend on the short-term economic outlook
  • Strategy does not take for granted the company’s major facilities, divisions or markets

Market outlooks for strategy are driven by long-term trends of demographics, globalization, income distribution, and technological change. Issues related to inputs include these same issues plus others related to materials price and availability.

Contact Bill today to set up an appointment and get your project started!

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RSS Bill’s Forbes Articles

  • Vaccine Delays Won’t Sink The Economic Forecast For 2021 January 15, 2021
    Slow vaccinations disappoints most Americans, with similar problems around the world. But government officials and health care professionals are learning quickly. Vaccination will accelerate quickly, leaving the rosy economic forecast intact.

Testimonials

Bill Conerly has been an invaluable resource to our executive team and ownership by delivering superior, well-founded ideas that are critical to navigating the current economic climate within the construction industry. Bill assisted O.B. Williams Company with developing a strong business plan that we implemented 18 months ago. As a result and together with Bill, we are improving our position within our highly competitive market segment. We understand that navigating this current economy is indee…
David Wick, CEO, O.B. Williams Company
Dr. Bill Conerly opened our Ace Hardware Platinum Retailer Conference by helping our independent small business owners understand the current state of the economy in a straight forward and humorous manner that connected very well with the retailers I spoke with. Dr. Conerly provided information our retailers can use to lead their businesses. He connected with the audience and made a complicated topic understandable.
Mike Berschauer, Ace Hardware Corp
You made a complicated global picture understandable. I have received many favorable comments from those in attendance. I frequently heard comments like ‘Now I understand’ or ‘Wow, now I get it’ and ‘He was great to listen to. Thanks for bringing Bill to our meeting.’
Pete Van Sickle, Idaho Department of Lands
It can be difficult to find economists who provide good substantive information who are also entertaining and engaging. I received many enthusiastic comments about Dr. Conerly from members and others in the audience.
Molly Steckel, Idaho Telecom Alliance
On multiple occasions we have engaged Dr. Conerly to facilitate, and more importantly, stimulate strategic planning sessions. He artfully brings the complexity of economic consequences to light, and is also is a veteran voice of objectivity. And his ability to inject humor keeps the energy and teamwork a priority!
Greg Newton, CFO, Cascade Bancorp
The ratings you received from our banker evaluations were among the highest I’ve seen, which matched my impressions exactly. Your presentation style is quite engaging, you bring interesting and valuable content, and our ability to interact in a stimulating way during “Q&A” sessions makes you a valuable addition to any meeting agenda. As a bonus, you are a genuinely enjoyable participant in conference activities beyond your presentation.
Steve Yeakel, Montana Independent Bankers
Bill did a great job! There were many in the audience who liked him and many in the audience who loved him! Bill shared pertinent and timely information with our audience of commercial real estate professionals and added interesting stories and a funny sense of humor twist.
Jana Knoll, BOMA Boise
Every time you spoke, we got business.
Chris Rasmussen, Washington Trust Bank, Bank of the Northwest
Bill’s presentation was neatly balanced…rich with content.. and our audience really enjoyed his humor.
Bing Sheldon, SERA Architects
Our audience of local business and community leaders not only valued the economic data you provided, but they really appreciated that you made it applicable to their businesses, their personal lives and moreover – that you presented it in a clear and entertaining manner.
Scott Boyer, Mountain Pacific Bank

Get in touch

(503) 785-3485

bill@conerlyconsulting.com

PO Box 2188
Lake Oswego, OR 97035

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