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Financial management is about your performance, the results you produce, and the numbers you use to quantify your activities. As the financial manager of your company—whether you are the CEO, the CFO, the VP-Finance or Treasurer—you are going to interact with all other areas of the business: operations, personnel, marketing, production, and administration. You will [...] Identify the key people or talent groups you need for your strategy to work. Adopt the practice of questioning and challenging the analyses and findings of groups that have worked in an area for a long time. Think like your competitors. If you were to compete against you, what would you do? [...] Here’s an interesting idea I just read in a recent issue of Tips From the Top, the newsletter published by The Advisory Board, a small business management consulting firm. The tip was suggested by Randy Smith, of FORUM Systems Group in San Antonio, Texas: [...] This post was written by my good friend, George Walden II, a principal in the Houston office of Corporate Finance Associates. George has extensive experience as a middle-market investment banker, having successfully completed more than thirty transactions worth over $150 million. George is an excellent source of realistic yet practical advice on corporate finance. So [...] This is the final post in a four part series of posts that summarize an article that first appeared in the March 1982 Small Business Report. This is what was discussed in the previous posts: [...] This is part three of a four part series of posts that summarize an article that first appeared in the March 1982 Small Business Report. In the first article (click here to read Article 1) I focused on financial pitfalls and excessive optimism as two of the many causes for small business failure. In the [...] This is part two of a four part series of posts that summarize an article that first appeared in the March 1982 Small Business Report.  I believe this publication is not being published anymore, but if you should know of this magazine and either its online or actual contact information, please let me know so [...] A few years ago, I worked for a management consultant named Joe Chojnacki. Joe established his practice in 1979, well before there was the plethora of information that exists today to help small business owners succeed, and well before there were many management consultants focused on helping small business owners. Joe amassed an extensive library [...] I was looking through an old edition of Home Furnishings Retailer, an industry trade magazine, and I came across an interesting article. The two main points of the article were: 1. Recognize that you have established a brand image in the minds of your customers, either intentionally through specific brand-building efforts, or unintentionally through your interaction with [...] To be a great company, a business must meet four criteria: 1. Performance – generate enough cash flow to be self sustaining, and possess a solid track record of meeting other objectives. 2. Impact – Play a significant leadership role in shaping its industry. Not necessarily the biggest company; influence can be by innovation [...] |
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