Dramatically Accelerate Correct Fiscal Leadership Decisions!
Below is a link to the manufacturing/wholesale distribution report. These typically come out quarterly.
Below is a link to the private equity group survey results.
http://mcgladrey.com/Private-Equity-Groups/2013-Private-Equity-Survey
Annual survey finds firms are optimistic about growth
http://www.onethousandwordsplus.com/read-158-MillionDollarBlindSpots2020VisionForFinancialGrowth
Million Dollar Blind Spots will create clear understanding to uncover blind spots in your company-and will dramatically accelerate correct business leadership decisions. Million Dollar Blind Spots is hailed by industry professionals as a commonsense approach to risk management. When asked how all departmental leaders can help the finance department increase profitability, this book is a resource for management to find pools of cash in key departments of the company. This book helps career-motivated business executives unearth key risk areas and identify opportunities leading to sustainable growth, buzz-worthy customer value, and impressive profitability. Gary Patterson has developed clever systems to: Avoid costly problems Increase profits Uncover your million-dollar blind spots Answer questions about why risk management is important to finding pockets of hidden cash Make faster business decisions Reduce functional silos When your team asks What is financial risk management?; this book contains the answers. This book contains 125 questions to assess your company and strengthen balance sheets and income statements, describes insightful flash reports, metrics and financial reporting templates and illuminates key requirements for business plans to improve operations and raise crucial financing for your management team projects. If you desire to run your company like Jack Welch, then pick up a copy of Gary Patterson’s book for your entire team. Gary Patterson is a Stanford MBA, CPA and popular speaker who has worked with over 200 companies and negotiated 25 merger & acquisition deals ranging from startups to Fortune 500 companies.
Why do so many Strategic Plans fail to attain targets? Consider my article Key Questions for your Strategic Plan’s Bottom Line, which The CEO Magazine (article link below) has allowed me to share.
Today’s economy is a perfect storm of rapid change, risk, opportunity, and uncertainty. By working with the key questions outlined here, your company can develop a fiscal vision which grounds your strategic plan in reality. A strategy that is driven by the company’s financial performance and goals is a strategy that will separate the victors from the victims.
Most strategic plans are blue sky and detached from bottom line performance, however a fiscal vision makes your strategic game plan measurable so at any point in time you and your executive team can ascertain if and how your company is achieving its strategic goals in accordance with your financial objectives. To this end, I apply the fiscal vision to what I think are the four most critical drivers of any business – risk, opportunity, change, and uncertainty. (In fact, I’d go as far as to say that these four drivers are the DNA of modern business.) The first two aspects (risk and opportunity) focus on the internal forces that determine a company’s gestalt (that is, its business orientation and management mindset); the latter two aspects (change and uncertainty) focus on how a company responds or reacts to the external forces (i.e., the economic environment) in which it operates.
By Gary W Patterson
The full article is available below:
http://tinyurl.com/d4allk6
My April 2013 article in Small Business Digest is available to review as part of the magazine or as a separate download.
http://digital.turn-page.com/i/116426
This article suggests how to make more money (a topic near and dear to the heart of most people).
The consensus of experts seems to ask how you can grow revenues to move forward. Note that statement did not say grow revenues profitably. You probably assumed the prior statement meant to grow revenues profitably. In fact you may have just made that same statement at your organization.
But consider this point. When your people hear grow revenues (do they not hear or and forget the bottom line consideration as an issue) or grow revenue profitably? I regularly have this discussion and most people leave out the word profitably.
Think back and remember stories about when leaders or the organization published a strategic mantra proclaiming the need for growth. They got growth all right, with less bottom line profits as a percentage of sales and sometimes even less profits overall. Clarifying how listeners should hear your request for more growth can be the 1 percent benefit from reading these articles.
Now move to the goal of Increasing Revenue PROFITABLY using strategic suggestions in this article.
The strategic aspect of this process can be as simple as to brainstorm on how you can:
Depending on your industry, size of company, or unique situation at this time, people often will gravitate to a preference to two or three of the preceding contemplative questions. Restrain yourself from deciding tactical steps on how to implement these new ideas, for the moment.
Now vet these ideas with a comparison to the potential risks, rewards and estimated costs of the list you have created. Think of this as a minimal budget to create your own simple capital expenditures process (CAPEX) to prioritize your new list of ideas and opportunities.
If you do not have a risk strategy framework, stop briefly and create or update whatever version of risk versus reward policy the organization has. The key is to exclude an approach which that could result in grievous damage to your organization.
Then move forward to some version ranking the ideas underway. This normally creates a much more manageable list of growth opportunities to create tactical execution steps for.
Article Source: http://EzineArticles.com/?expert=Gary_W_Patterson courtesy of my publisher
The last I read, payment terms with Illinois were 1 or 2 years and there were 9 BILLION dollars of unpaid bills in desk drawers, plus 100 BILLION dollars of pension cost, not even on the books.
http://www.huffingtonpost.com/2013/04/11/illinois-unpaid-bills_n_3056849.html
Who are you selling to that really is not creditworthy, and is actually a bigger risk to your cash flow than you want to know about? Kicking the can down the road on business decisions always catches up somewhere at an inconvenient time.
