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February 4, 2013 by fiscaldoctor

Million Dollar Blind Spots: 20/20 Vision for Financial Growth

Seattle, Washington and Atlanta, Georgia – Enterprise risk management (ERM) expert and speaker Gary W. Patterson, FiscalDoctor®, book website http://www.milliondollarblindspots.com/ is now available.

Million Dollar Blind Spots best practices and processes will create clear understanding to uncover blind spots in your company—and will dramatically accelerate correct business leadership decisions.

Million_Dollar_Blind_spot_ for press releases

Make the best decisions to grow your business today. You’ll learn how 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

From the management of individuals, teams, departments, companies and divisions, there’s a potent mix of solutions in here you need to read, bookmark and make your own. Use this guide to grow efficiently, master real-world numbers, and identify and eliminate your organization’s costliest blind spots.

The book is part of the series including “Million Dollar Blind Spots”, followed by “Why Risk Management?: Systems for Making Informed Financial Decisions”, and then “Human Capital RX: The Fiscal Prescription for a Stronger HR Department.

Patterson works with leaders to uncover blind spots to make the best business decisions and dramatically accelerate correct fiscal leadership decisions. This helps leaders gain control of their financial destinies and capitalize on hidden high return opportunities, while limiting their exposure to risk. Patterson, a Big 4 CPA with a MBA degree from Stanford University, speaks regularly on topics such as corporate governance, risk management, strategic contingency planning, achieving corporate financial goals, leadership, and building long-term wealth.

About AudioInk

AudioInk boasts a powerful network of online distributors providing material worldwide. Our outlets involve such industry leaders as Apple’s iTunes, Amazon, B&N and more.

Founded in 2011, AudioInk Publishing, a division of Made For Success, Inc., is dedicated to providing authors and speakers the opportunity to make their Books, eBooks, Audiobooks, Speeches and other content available to leading retailers. AudioInk provides generous royalties and full service to extend the greatest opportunity to self-published authors. Great or small, everyone should have full access to distribute their work successfully. http://audioink.com/about/

About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor®, has been interviewed or presented internationally at over 70 of the leading and most prestigious publications and groups in the world and worked with over than 200 companies spanning supply chain, technology, transportation, construction, and service industries.

He authored “Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health”, “The Fiscal Fitness System Understanding Balance Sheets, Income Statements, and Cash Flow” and “Find Your Million Dollar Blind Spots: 7 Thing You Need to Know”. For more information, visit his website at www.fiscaldoctor.com and his “free” fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 678-319-4739.

Filed Under: Timely Reports Tagged With: best practices business leadership decisions enterprise risk management ERM

February 4, 2013 by fiscaldoctor

Take Risk Out of Your Strategic Plan: Association of Strategic Planning Atlanta

Selects ERM/ORM Expert Gary W. Patterson to Lead Discussion

 January 30, 2012 – Boston, MA – Gary Patterson, FiscalDoctor® and enterprise risk management (ERM) and operations risk management (ORM) expert and speaker, was selected by the Association for Strategic Planning’s (ASP) Atlanta Chapter to lead a discussion on “How to Take Risk Out of Your Strategic Plan”  http://www.strategyplus.org/chapters/Atlanta.php

Attendees of this interactive session will walk away with:

• a laser-like focus on the strategic areas they need to address to reduce or minimize risks
• a roadmap that will help them develop new revenue streams
• a practical, actionable process that they can implement the day after this presentation

We will also discuss a value-added take on risk management that helps executives not only unearth key risk areas, but in the process, identify formerly invisible opportunities leading to growth and profitability.

About Association for Strategic Planning Atlanta

ASP is the only not-for-profit professional association dedicated to advancing thought and practice in strategy development and deployment for business, non-profit and government organizations. ASP provides opportunities to explore cutting-edge strategic planning principles and practices that enhance organizational success and advance members’ and organizations’ knowledge, capability, capacity for innovation, and professionalism. For more information, go to www.strategyplus.org/chapters/Atlanta.php.

 About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor®, has been interviewed or presented internationally at more than 70 of the leading and most prestigious publications and groups in the world and helped over than 200 companies during 30 years, spanning supply chain, high tech, transportation, construction, and service industries.

His Million Dollar Blind Spots: 20/20 Vision for Financial Growth book provides cutting edge follow-up to the theme of blind spots: how to identify them, exploit opportunities and mitigate risk related to million dollar blind spots. This builds upon his earlier book Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health. www.fiscaldoctor.com or 678-319-4739.

© 2013 Gary W. Patterson  All rights reserved.

 

Filed Under: News Tagged With: strategic

February 4, 2013 by fiscaldoctor

Removing Million Dollar Blindspots followup at NRF

Their summary below says it all about this enormous event of the National Retail Federation (NRF) which has been running over 100 years.

Retail’s BIG Show was a big success. So big in fact, that this year’s attendance – 27,600 – surpassed even last year’s record-breaking numbers. If you couldn’t make it to New York or just want to relive the experience – we’ve done a pretty good job of highlighting the “best of the best” right here.

http://events.nrf.com/annual2013/public/mainhall.aspx

The picture below is from my sponsored book signing for LogFire www.logfirellc.com and Blue Ridge Inventory www.logfirellc.com, two cloud based software providers.

NRF Book Signing booth
NRF Book Signing booth

Filed Under: News Tagged With: ERM inventory software supply chain

January 31, 2013 by fiscaldoctor

Find Your Million Dollar Blind Spots: 7 Things You need to Know

Minibuk generously offered me an eBook version of my Minibuk titled Find Your Million Dollar Blind Spots: 7 Things You need to Know.

Please call or email me to discuss presenting this as a workshop or presentation to train your people on how to find Million Dollar Blind Spots.

Find Your Million Dollar Blindspots Minibuk

Filed Under: Timely Reports

January 25, 2013 by fiscaldoctor

Your hidden fiscal danger: Managing to the numbers

Think for a minute and consider to what extent you are fooling yourself by managing to a number—instead of consistently making the best decisions for long-term equity growth.

Unfortunately, too many leaders of both public and private companies publicly target specific numerical targets for net income. Once stated, those targets often take on an air of obligation.

So why is this an issue?

Well, in the zeal to consistently reach numerical goals, the organization begins to fall for the temptation to stretch some quarters to reach targets and even to slow down—even hitting the brakes—rather than bringing in too much income above the target number in another quarter.

The result: in their ever increasing focus on attaining short-term numbers, leaders can lose focus on making the best long-term decisions to build value.

Month end, quarter end, and fiscal year end activities can become hostage to this teeter-totter process of getting just enough income—yet not too much income—in the current period. Sort of like Goldilocks tasting the 3 bears’ porridge!

Having been part of year end deal closing crunches, I can assure you that inordinate amounts of time, money, and focus are required to get deals closed in the desired period.

Carried too far, companies then hold ‘fire sales’ to ensure getting the last few sales needed for those target revenues, which results in customers quickly learning to hold off on purchases until the regular desperate overture is made at period end—all to hit the sacred numerical targets. This ends up reducing margins (as well as creating a spiraling impact) as the company continues to try to make upcoming period results.

So, what kind of tone, from the top down, does this obsession with exactly hitting stated numerical results convey throughout the organization?

When you combine this corrosive environment with stress and pressure from the non-economic energies required to reach those targets, ask yourself, “How much does that detract from corporate responsibility to shareholders to consistently build value within risk tolerances and resources available?”

At what point does this corrosive environment create a situation where the organization drinks its own Kool-Aid?  Yes, it begins when the organization starts losing track of real balance sheet and operating information needed to make the best decisions.  The closer to customer facing activities this incorrect data reaches, the more likely it creates operational inefficiencies.

As a result, the company owner, leadership team, or staff will likely run afoul by having to manage wasted energy needed to hit those numbers, rather than building equity and long-term wealth.

What’s your next step to avoid these hidden fiscal dangers?  Below are 3 options to help keep you on track:

1.  Target a numerical range, not an exact amount.

2.  Change or adapt incentive programs to emphasize consistently reaching longer-term goals and objectives.

3.  Change the tone from the top to emphasize doing things right, rather than managing income.

Reflect on the reality this short-term income-oriented behavior runs deeply enough that you require a fresh set of eyes to see where you are. Then, as you begin to eliminate non-economic activities, everyone can come out a winner!

 

Filed Under: news

November 23, 2012 by wpassistant

Seizing the Upside of Enterprise Risk Management (ERM) interview by Pamela S. Harper

Filed Under: Audios

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