The costs for raw materials are up. Health insurance costs continue to climb. Labor is in short supply which typically means wages will go up. As of the US Job Openings and Labor Turnover Summary report released on June 5th, 2018, there are now more jobs...
Preparing a budget does not have to be laborious. I hated wasted time; I also hate spending a lot of time on budgets. That view might strike some of you as strange given that it comes from a CFO (Chief Financial Officer). But the truth is that budgets do not have to...
I hate wasted time. How about you? I always seem to have more things to do with my time than time to do them. I figure I could fill two or three lifetimes with what I would like to do—in business and for pleasure. It is that time of year where every good company is...
When a Chief Financial Officer (CFO) speaks, many listeners conclude that a CFO thinks everything comes down to cash. Therefore, let me be clear: It is not all about the cash. However, today is my day to talk about cash flow. (Full disclosure, I have memorized a few...
What should you sell? Who is your ideal customer? This month I have been writing about strategic planning – focusing on the importance of answering these two strategic questions. As a business owner, answering these two strategic questions defines your target...
For the past few weeks, I have been doing a series of blog posts around financial reports. Here’s the big idea: Reports tell a story If your reports do not tell you a story, then your reports need help. Put another way, if you must “guess” what is happening in...
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