“The Continuum from Meatball Surgery to Rocket Science”
My son began watching “The Simpsons” when he was in his teens. Although I wasn’t particularly interested in cartoons at that time in my life I decided that I should check out what he was watching to maintain my street-cred.… Read more >
New COSO RM Framework out for Comment – June, 2016
The second step in using published business wisdom is to “Assess Opportunities and Risks to Develop or Redeploy the Broad Business Plan”. Frameworks for this purpose are readily available. Read Part One.
2. Assess Risks to Develop the Business Plan
Leaving opportunity assessment for another article, this article is written to address risk assessment. … Read more >
Many business owners believe the best way to maximize the value of their company as they prepare for an exit is to focus on improving financial or operating performance.
My goal is to debunk that commonly-held belief.
Improving revenues and profitability will increase value, but not maximize it. … Read more >
Small businesses do not have large administrative staffs but they can still utilize the published wisdom gained from decades of experience.
Successfully managing any company is an iterative process that requires constant assessment of all of the moving parts. There is a need to continually respond to changes in the environment, to improved technology and to cultural shifts within our society as a whole. … Read more >
I have found in my career that one of the most common tools that are not in place for business owners is income statement, balance sheet and cash flow forecasting. The role of the Chief Financial Officer in companies includes the duty of forecasting but in companies that don’t have an in-house CFO these duties are often neglected. … Read more >