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February 3, 2008 by fiscaldoctor

Get the Board Data You Need on Time – NACD Feb 2008

February 1, 2008 by fiscaldoctor

“Do You Really Know Your Company?” Asks NACD DirectLine Digest

Gary W. Patterson Poised to Speak on Governance,
Incentives & Strategic Planning

February 1, 2008 – Boston, Mass. – President & CEO of FiscalDoctor™ Gary W. Patterson furthers his expertise on governance, particularly corporate board governance, issues as the popularity of his self-evaluation quiz “What Is Your Board’s Embarrassment IQ?” has been extracted by the National Association of Corporate Directors in NACD Direct Line: January 2008 issue www.nacdonline.org. The NACD digest has also been blogged on www.retiredirector.blogspot.com.

Patterson administers the self-quiz as an effective tool to get board members to examine the quality, accuracy, and the timeliness of the information they receive as it relates to their ability to make sound strategic decisions. Questions run the gamut from “Are the financial reports and summaries easy to understand?” to “Are you receiving hand outs while the meeting is in progress?” Depending on their answers, board members will rank themselves on a scale ranging from “I sleep well at night” to “I must take immediate action.”

You can take the quiz by going to Entrepreneur.com in its resource section http://www.entrepreneur.com/tradejournals/article/170973028.html (NB. The article was originally published in Directors & Boards, December 2007, a journal dedicated to topics of leadership and corporate governance.)

About Gary Patterson
Gary W. Patterson, FiscalDoctor™ (www.FiscalDoctor.com) has been a consultant for more than 200 companies spanning high tech and service industries. His clients include startups, Inc 500, and Fortune 500 companies worldwide. Patterson is a contributing expert to a forthcoming book by Eric J. Leech on making strategic use of Other People’s Money (OPM) to build corporate value. For more information, visit www.FiscalDoctor.com, or call Patterson at 781-237-3617.

January 30, 2008 by fiscaldoctor

Public Affairs News Monitor Endorses FiscalDoctor’s Board Embarrassment IQ Quiz

Gary W. Patterson Poised to Speak on Governance, Incentives & Strategic Planning

January 30, 2008 – Boston, Mass. – President & CEO of FiscalDoctor™ Gary W. Patterson extends his influence as an expert on governance particularly board governance issues as the popularity of his self-evaluation quiz “What Is Your Board’s Embarrassment IQ?” has now been summarized and published by the Public Affairs Council in its publication Public Affairs News Monitor. The summary can be viewed at http://www.pac.org/page_monitor/EkppupZkEZAxdQwlQg.shtml.

The self-administered quiz asks board members to take stock in their ability to make sound strategic decisions by posing hard-hitting questions ranging from “What is the quality of the information you receive?” to “Is your expertise being used to its fullest?” You can take the quiz by going to https://fiscaldoctor.com/news.html. (Note: This quiz was originally published in Directors & Boards, December 2007, a journal dedicated to topics of leadership and corporate governance.

About Public Affairs Council
Launched in 1954 at the urging of President Dwight D. Eisenhower, the Public Affairs Council has a longstanding reputation for anticipating public affairs professionals’ needs. As the leading association for public affairs professionals, the council provides unique information, training and other resources to its members to support their effective participation in government, community and public relations activities at all levels. Thousands of member-company employees take advantage of its programs and services each year. More than 625 member corporations, associations and consulting firms work together to enhance the value and professionalism of the public affairs practice and to provide thoughtful leadership as corporate citizens. For more information on the organization, visit www.pac.org.

January 8, 2008 by fiscaldoctor

How to Turn Your Cash-Starved Company into a Cash Cow? 21 tips on how to generate cash within six months

January 8, 2008 – Boston, Mass – Gary W. Patterson, president & CEO of FiscalDoctor™, advises startups and established companies to think strategically about cash flow before a cash crunch becomes a critical problem that could endanger the growth and survival of a company. Heed these tips and watch your company’s cash flow grow.

Send out all accounts receivable statements monthly
Call customers and ask for payment
Speed up customer invoicing
Sell slower moving inventory at a discount
Review inventory levels by days sales and adjust outstanding and future orders
Sell and/or lease back assets
Increase the company’s line of credit
Review intellectual property for royalty opportunities
Review staffing levels and staff on a green-field basis
Identify products that are loss leaders
Raise prices where appropriate
Find ways to reduce scrap
Ask employees for suggestions
Slow vendor payments temporarily
Postpone purchases
Do more with less
Review expenses on a line-by-line basis
Assign customer write-offs to a collection agency
Review services you provide free of charge and consider charging for them
Review why legal and professional bills are so high
Obtain external help for an assessment

December 14, 2007 by fiscaldoctor

Society of Professional Consultants Recognized CEO FiscalDoctor™ Gary W. Patterson as Thought Leader for Best Practices/Breakthrough Success Stories

December 14, 2007 – Wellesley, MA – Gary W Patterson, CEO of FiscalDoctor™ (www.fiscaldoctor.com), was a featured panelist at the Society for Professional Consultants year-end Holiday Celebration panel on “Success Stories 2007.” Patterson was honored for his best practices and breakthrough efforts garnering international speeches and getting published in high-profile trade and business publications, including Financial Executive and Directors & Boards. Patterson is also a contributing expert to a forthcoming book on making strategic use of Other People’s Money (OPM) to build corporate value.

Patterson’s advice to the consulting community is this: “Get published and secure speaking opportunities. It’s the surest and most effective way to become an expert.”

About Society of Professional Consultants
The Society of Professional Consultants is a non-profit, New England-based resource organization for consultants who represent diverse disciplines and work in multiple industries. The Society was established in 1986 by consultants for consultants to create a dynamic peer network. For more information, visit www.spconsultants.org.

December 4, 2007 by fiscaldoctor

Executive Compensation Seminar Reveals the Secret of Turning Disgruntled Employees into Top Performers

December 4, 2007 – Boston, Mass. – Lorman Education Services, a leading provider of continuing educational seminars, invited Gary Patterson, CEO of FiscalDoctor™, and Dick Dauphinais, CEO of Strategic Compensation Partners, as guest panelists in its one-day seminar on executive compensation. Titled “Executive Compensation in Maine,” the panel discussion centered on 409A compliance and executive employment agreements; growth strategies and tactics for developing an effective executive compensation plan; and the alignment of executive pay with board-driven strategic objectives. The seminar, which was held this past fall, was designed for attorneys, presidents, vice presidents, CFOs, controllers, accountants, CPAs, estate and financial planners, tax managers, finance managers and human resource professionals.

Patterson and Dauphinais, the panel moderator, urged executives to consider three critical strategies that could empower management, thereby enhancing corporate value, including the value of executive equity. These strategies included:

(1) Adding a vision and financial mission component to the more traditional corporate mission statements that supports a company’s formal business and operational plans. This includes clarifying and aligning top management’s passion and emotional values with the company’s vision and financial mission.
(2) Coming to terms with the financial consequences and/or hidden costs of not sending out timely board of director packages well in advance of board meetings. Benefits lost can include making informed decisions to increase profitably and sales strategies and using the expertise of board members to their fullest.
(3) Adopting the Perth Leadership’s Institute proprietary business acumen approach called Perth’s Leadership Outcome Model™ (PLOM). This alternative approach links leadership ability directly to an executive’s financial performance as characterized by his or her financial behavioral traits, which the model defines as an executive’s “Financial Signature®. The financial signature describes an “innate calculus” that drives particular behavior when an executive makes decisions involving financial risks, costs, benefits, and rewards. The model assumes that each individual has a characteristic way of handling such situations.

About Lorman Education Services
Lorman Education Services held its first continuing education seminar in 1987.Since then, Lorman seminars have kept businesses, and the professionals who serve them, current in the rapidly changing regulatory environment. For more information, visit its website at www.lorman.com.

About Strategic Compensation Partners
Dick Dauphinais founded Strategic Compensation Partners (SCP) in 1990 with the primary focus of providing expert compensation and benefits consulting to organizations encompassing a wide range of industries and company sizes. He has more than 30 years of corporate human resources experience, specializing in both the compensation and benefit areas. For more information, visit www.strategiccompensationpartners.com or call 207-439-5135.

About FiscalDoctor™
Gary W. Patterson is president and CEO of FiscalDoctor, with more than 30 years of senior management experience helping high-growth technology, wireless, manufacturing and service companies improve their bottom line. He has worked with over 200 companies – from start-ups to Inc 500 to Fortune 500 –providing high-level strategic guidance and expertise. For more information, visit www.FiscalDoctor.com or call 781-237-3637.