August 11, 2015 by fiscaldoctor

Optimizing Resource Allocation Can Create Growth Opportunities in Business

Where Do You Have the Wrong People On Their Seat on Your Business Bus?

September 11, 2013 – Atlanta, GA – Gary W. Patterson, FiscalDoctor®, expert on profitable growth rapidly suggests business owners and leasers review existing resource allocations and prioritizations to create growth opportunities.

Each business has worthy goals for strong growth, high profits, and strategically applied use of existing resources. The limited availability of time, people, and money make allocation of resources critical to achieving the company’s objectives. The process of analysis and recommendation can be timely but with the assistance of a consulting or accounting firm, optimized resource allocation can create opportunities for growth and profitability.

Surveying and Data Collection

An accountant or consultant has access and time to conduct a survey of time allocations, labor and intellectual property resources, expense sources, and assets to determine exactly how the resources are being used. The work and time needed to properly gather the information for resource allocation decisions is far more than most decision makers can create in their day. The help of an accountant or consultant like Fiscal Doctor can ensure the data is collected and organized in a timely fashion. For an example, the surveys and data collection could result in a report of available man hours, assets unused, and detailed expense reporting.

Analysis and Projections

Continuing the example, the consultant may discover there are 250,000 available man hours and only 100,000 are contributing directly to revenue growth. The analysis and data is then used to make projections regarding potential implications of reallocating resources from one use to another and what affect that would have upon revenue, expenses, or profits. Analysis of the data creates information that leads to projections and ultimately a recommended decision.

Recommendation

It’s a common adage among business leaders that it is difficult to work on a business while working in a business. The accounting firm or consulting firm assisting with a resource study has the ability to spend not only the time but also give the outside perspective often needed to properly gather data, analyze the situation, and provide an unbiased recommendation for greater opportunities. To conclude the example, the consultant will offer the business’s decision makers the data and survey outcomes collected regarding the man hours that are not creating revenue and what the projected revenue might be if the resources are optimized, and finally a recommendation for how to optimize the company’s workforce to create a higher percentage of revenue generating man hours.

Businesses interested in reaching objectives and growing the company need only reach out to a consultant like Fiscal Doctor or even their current CPA firm for resource usage study, analysis, and recommendations for reallocation to optimize the current resources. The timely process can be overwhelming to an executive but to a consultant or accountant, the surveying and analysis is made easier by their access to software and unbiased approach streamlines the process and offers the executives just what they need– information and a recommendation to make a decision for greater growth and profitability.

About Fiscal Doctor

Fiscal Doctor, Gary W. Patterson, has more than 30 years of senior management experience with high growth technology, wireless, manufacturing and service companies. He has worked with more than 200 companies — from start-ups to Inc 500 to Fortune 500 — providing high level strategic guidance and expertise. Revenue growth, merger and acquisition negotiations, expense reduction, and resource optimization are a few of the ways Fiscal Doctor helps businesses improve financial health and overall success. A free fiscally fit quiz is available on the Fiscal Doctor website at https://fiscaldoctor.com/fiscal-quiz

March 30, 2015 by fiscaldoctor

Companies thrive only when customers are thriving

Kerri Salls of Exit This Way interviews Gary Patterson on a three part discussion about In this episode of Exit This Way, listen in as Kerri speaks with Gary Patterson of fiscaldoctor.com to discuss what are the simple questions that need to be asked that can help a company locate financial “blind spots?” How can these simple questions improve the health of a company to make it more attractive to sell when ready to sell?

Finding a Company’s Blind Spots

A company can thrive only when its customers are thriving.

But, what do you do when your most profitable customers are no longer profiting? What plans does your company have in place to adjust for that?

Links to the three parts are available below:

http://urbusinessnetwork.com/fiscal-doctor-inc-enterprise-risk-management-expert-and-speaker-gary-patterson-on-exit-this-way/

March 17, 2015 by fiscaldoctor

How to be a more successful leader for rest of this year …

With 2015 kicked off, let’s find an extra 1% to make this year even better.

Set aside a quiet two minutes to strategically ask yourself the following questions, considering how your decisions positively or negatively affect your board, employees, and customers.

What’s your success and failure rate on the decisions you’ve made in the past? What can you and your team learn from the results of those decisions, and what adjustments can be made to handle those situations better when they come up again?

Do your decisions from the top trickle down and positively affect your company and its performance? Do your board of directors and fellow C-level employees trust your decisions and empower you to make them on the company’s behalf?

To make the most effective decisions, you need a team that supports you and access to the data that will give you a clear picture of your company and its performance, including its risk management strategy.

Consider the level of risk you are willing to take and whether that lines up with others’ ideas of risk tolerance at your company. Is there alignment? Do you have all the financial performance data you need to see where the company stands against its goals and objectives?

Don’t rush your decision if you don’t have to. You want to plan ahead, thinking of potential problems from all angles, and determining what should be done to correct or adjust each situation. (Your crisis management team may want to be in on this conversation.)

Avoid having to make a decision too quickly with not enough information if something has to be decided hastily. Don’t wait until a major event occurs to decide where you stand on critical enterprise issues.

Let me know if you want to talk more about the value I saw the leaders I help receive or any other questions.

Or, if you know a CEO who is lonely at the top and would like to have coffee and ask what we are telling CEOs in the Goldman Sachs 10000 small business program, have them call.

You can also contact me today at [email protected] to talk about your special situation or project that needs immediate attention. On that note, I look forward to serving you.

(678) 319-4739

Key member of 2 successful Inc. 500 international companies ready to help you next.

Author of Million Dollar Blind Spots: 20/20 Vision for Financial Growth and Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health

December 25, 2014 by fiscaldoctor

Atlanta Leaders, Innovators, CEOs – Financial Growth for Small Business

Find The Million Dollar Blind Spot Before it Finds You

January 2, 2015 –Atlanta, Georgia – The Commerce Club Conglomerate is featuring growth expert and speaker Gary W. Patterson to present “Financial Growth for Small Business” on January 14, 2015 for innovators, CEOs, trailblazers, start-ups, entrepreneurs, up-and-comers and more. http://www.clubcorp.com/Clubs/Commerce-Club-Atlanta/Calendar/(event_id)/666781

Attendees can expect to learn how to:

Grow top line revenues and keep more bottom line dollars;
Explore 5 of the most common million dollar blind spots; and
Take away 5 detail actions to better manage their growth process.

Just as every person needs a medical doctor; every organization needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for risk assessments, enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, strategic planning updates, and strategic growth diagnostics.

About Commerce Club Conglomerate (CCC)

The Commerce Club, also commonly known as the 191 Club Atlanta. Located at one of the most prestigious, well-known addresses in downtown Atlanta – 191 Peachtree St. in the incredible One Ninety One Peachtree Tower – our purpose at Club 191 Atlanta is to develop the leaders of today and tomorrow for the city of Atlanta. Reconnect to your business with our efficient, time-saving, superior-quality networking and business advantages; or sit back, relax and share an exquisite fine-dining experience with friends, colleagues, or someone special – all while taking in breathtaking city views from the top of “The Tower of Power”!. http://www.clubcorp.com/Clubs/Commerce-Club-Atlanta/Our-Story

About Gary W Patterson.

FiscalDoctor Inc. works with leaders to uncover million dollar holes 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.

Key member of 2 successful INC 500 international companies growing rapidly profitably
Recently honored as a published thought leader by the Financial Time’s ExecSense service
Goldman Sachs – 10,000 Small Business growth initiative Virtual National VBA

Visit his website at https://fiscaldoctor.com and “free” fiscal fitness test at https://fiscaldoctor.com/fiscal-quiz/ , or call 678-319-4739.

July 24, 2014 by fiscaldoctor

Apples & Oranges When Pricing is Challenged

Guest post : sales & communication expert Don Saracen

APPLES & ORANGES
WHEN PRICING IS CHALLENGED

“Too many people today know the price of everything and the value of nothing.” ~ Ann Landers

Two million dollars’ worth of business was on the table; one major slip-up and our closest competitor was ready, willing, and able to snatch up the business. The meeting began cordially, with introductions and pleasantries all around, and then we soon got down to business. As we sat around the large oak conference table, you could feel the tension in the room. Three of us and six of our customer’s key buying team were in attendance. We were ready to present our annual report, including pie charts, product mix, and pricing, when the door of the conference room opened a crack. A secretary summoned the president from the room.

The VP of purchasing continued the meeting by airing his views before we could make our presentation. We listened intently to hear exactly what was on his mind. He talked about how we had had a long and meaningful relationship over the years, good service, and open communication. But what he was leading up to was our pricing. He said all things being equal, our competitor’s pricing was significantly lower while we, on the other hand, had recently asked for a small price increase. How could that be?

Well, fortunately for us, we had done our homework. I suggested that we turn to the financial section of our presentation handout where we covered pricing. We discussed how we had also been confused by the fact that our competitor could sell a product we both produce at a significantly lower price. We went on to describe how we had reviewed our raw materials, production, and distribution processes and found we were in line with the industry’s norms or better. We explained that we had purchased several of their products and run in-house and independent testing. Well the truth will set you free! Both the independent testing and our in-house testing came to the same conclusion—that our competitor was using inferior materials and less of them in the production of the same looking product.

There was a pregnant pause, and then the VP turned to his second-in-command and said, “I want those people in my office tomorrow morning at eight.” He turned to us and said, “We’ll review the rest of the report later. Keep up the good work. This meeting is over.”

Are the products or services you sell the same or different than your competitor’s? In most cases there are differences and it’s your job to be prepared and understand your value proposition. The moral of the story is: when someone is challenging your pricing, make sure you and your customer understand the difference between apples and oranges.

Don Saracen, is a sales & communication expert who has a passion to work with organizations who want to improve how they engage & influence in the new economy. He is president of Saracen Sales & Communications, author, and past president of the New England chapter of the National Speakers Association. Web: http://www.donsaracen.com/

Book: http://www.amazon.com/dp/0615811523

June 12, 2014 by fiscaldoctor

Business Leaders and Directors Focused on Profitable Growth

How to Manage Risks as Your Business Grows – Growth Expert Gary W. Patterson Interview

June 4, 2014 – Sydney, Australia and Atlanta, GA – Gary Patterson, FiscalDoctor®, international growth, enterprise risk management (ERM) and operations risk management (ORM) expert and speaker, was interviewed by Resilium (AU) on How to Manage Risks as Your Business Grows.

http://www.resilium.com.au/advice-centre/business-finance/how-manage-risks-your-business-grows#.U2rN4fldXNk

Key points covered include:

(1) How can a business assess its fiscal fitness and get in shape?

(2) Drive responsibility within your business

(3) Grow top-line revenues

(4) Reduce risks

Clients call him their FiscalDoctor® and just as every person needs a medical doctor; every business needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for risk assessments, enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, strategic planning updates, and strategic growth diagnostics.

About Resilium

Resilium is part of the Suncorp Group, the largest general insurer of Australians when measured by Gross Written Premium. The Group has around 9 million customers and almost 16,000 employees. They’re also a Top 25 ASX listed company, with over $95 billion in assets.

About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor®, has been interviewed or presented internationally at over 100 of the leading and most prestigious publications and groups in the world and helped more than 200 companies during 30 years, spanning supply chain, technology, transportation, construction, and service industries for companies ranging from SMB to INC 500 (2) to Fortune 2000.

His most recent book Million Dollar Blind Spots: 20/20 Vision for Financial Growth provides cutting edge follow-up for blind spots: how to identify them, and exploit opportunities and mitigate risk related to million dollar blind spots. Visit his website at https://fiscaldoctor.com and take a “free” strategic fiscal fitness test at https://fiscaldoctor.com/fiscal-quiz/ , or call 678-319-4739.

Enabling growth through leverage you did not know you had.