Dramatically Accelerate Correct Fiscal Leadership Decisions!
There are several elements of financial risk management that need to be taken into consideration for any big business. Setting up risk materiality in management override issues is a solid first step in preventing another future Layman Brothers. Find out about all the elements of financial risk management with help from an entrepreneur and financier in this free video.
http://smallbusiness.chron.com/elements-financial-risk-management-72834.html
High-Growth ERM Expert Gary W. Patterson Warns, “Unnecessary reports are hazardous to your wealth creation and company’s bottom line.”
August 26, 2013 – Atlanta, GA – Get the best resources in the right spots to exploit growth opportunities. Profitable growth and Enterprise Risk Management (ERM) expert and speaker Gary W. Patterson, president and CEO of FiscalDoctor®, urges companies to slash dead-wood reports to reduce operating costs, enhance the performance of disgruntled employees, and improve business efficiency and bottom line net profits. This also makes organizations more bankable and keeps them more bankable.
To help companies do the most with existing resources, Patterson asks companies to consider the following points when determining which reports would accelerate strategic goals and which ones should be tossed out.
To leverage the pruning process even more, think about what other line items or issues deserve a periodic review? And remember to do this process in good times so your business does not get fat, flabby or overweight again.
One final suggestion. Why don’t you consider instituting this review process of “doing more with less” instead of firing people as a way of reducing inefficiencies? Just think if your employees had fewer useless reports to sift through perhaps they would be more efficient, and you’d have a happier and more productive workforce.
About Gary W. Patterson
Gary W. Patterson, president & CEO of FiscalDoctor®, helps leaders grow revenues profitably rapidly by helping avoid the 3 biggest problems in profitably growing their business. He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on high growth, enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management.
For more information on the FiscalDoctor or his book Million Dollar Blind Spots: 20/20 Vision for Financial Growth, visit his website at http://www.fiscaldoctor.com , “free” strategic fiscal fitness http://www.fiscaldoctor.com/fiscaltest.html or call 678-319-4737.
Every business owner should know how an asset impairment loss can impact a company’s financial statements. It’s important to try and find the problem immediately so it can be solved right away. Learn all about how to deal with asset impairment losses and company financial statements with help from an entrepreneur and financier in this free video at Chron
http://smallbusiness.chron.com/asset-impairment-loss-impact-companys-financial-statements-72833.html
Thought you would enjoy this link to an article on 8 Creative Ways to Identify Your Most Profitable Customers where my suggestion 1. Continuously analyze customer data is quoted.
http://yfsentrepreneur.com/2013/06/27/8-creative-ways-to-identify-your-most-profitable-customers/
FS Magazine is the definitive digital magazine for startups, small business news and entrepreneurial culture. Intended for seed, startup and growth companies, YFS Magazine assembles innovators, startup enthusiasts, successful entrepreneurs, global business leaders, and writers to deliver a ‘Fortune 500 Simplified’ perspective into the world of popular entrepreneurship culture.
Financial Executives Networking Group High Tech SIG teleconference — Cloud Benefit vs. Risks. http://www.thefeng.org/
Our topic expert speaker is FENG member, Jay Polydys President of Total Cloud Connections, LLC www.TotalCloudConnections.com, a cloud services consulting and brokerage firm, with over 30 years’ experience in IT and telecom, Jay serves as an independent evaluator of cloud alternatives most applicable to each company’s unique situation and needs.
We asked Jay to deliver an insider’s overview of the invisible virtual cloud: the good, the bad and the ugly, as he presents a balance overview of cloud benefits and risks. The advantages of utilizing a resource that is non-biased and has no relationship with just one solution provider, but utilizes the businesses requirements and brings the best 2-3 solution providers to the table based on an organization’s needs.
The teleconference is available below. Depending upon your browser and because it is approximately 50 minutes, your download may take up to a minute.
Jay has been generous and donated an accompanying white paper Eating the Cloud-Based Solutions Elephant also downloadable here.
Eating the Cloud-based Elephant
And for a more graphic oriented recap, he also gave us a prezi presentation. If you have a problem seeing this in Internet Explorer, use chrome.
http://prezi.com/rrhfvtkaaomk/?utm_campaign=share&utm_medium=copy&rc=ex0share
Strategic competitive comparison to increase bottom line profitability: Part 1
Most business leaders and CEOs are looking for ways to increase bottom line profitability on a beer budget. So here is the first of 2 articles to either put more money in your pocket or keep it there through an inexpensive strategic comparison to competitors.
When was the last time you truthfully and strategically compared yourself to both direct and indirect competition? If you are one of the few companies that consistently do this regularly, say quarterly or semi-annual, skim the rest of the article for one or more insights on different ways to improve your competitive analytics. For the rest, this article will provide a number of low lying fruits results to easily and inexpensively harvest.
Start with a strategic overview that can be as simple as answering the following questions yourself and then expanding those thoughts with input from your sales, customer service and operational key member.
Do your competitors see you as their primary competition? Why or why not? Let’s look at the financial aspects of getting you there or to accelerate and lengthen the lead you have over the competitor nipping at your heels.
Examine the competition that is out there. If you do not already know, determine where your corporate financial position is in relation to your competition. Knowing this will help you figure how much money you need to grow you company to either pull away from the competition or surpass the competition that’s currently ahead of you.
Who are your direct competitors, those companies that are going after the same target audience your company is? What about your indirect competition, the companies that attracting your potential audience with a different or similar (but not exactly like yours) product or service? Your potential clients can just as easily buy from these companies if they are not buying from you.
Brainstorm tactically to expand the strategic insights from the questions above:
Your answers will be enough to find at least one to three areas to improve either top line sales, bottom line profitability, or to plug a gaping hole that now seems clearly visible. For even better results, talk to customers to gain their input. After all, how customers see themselves being treated and the competitive landscape is much more important than what you think they are thinking.
Originally published by ezinearticles and reproduced with their and my permission for your reading.