As former Secretary of State, George Schultz once said, “Trust is the Coin of the Realm.” Nowhere is that more important than in running a business that remains successful over the long term. In today’s newsletter, using the recent collapse of Silicon Valley Bank as an example, we take a look at what can happen — in any industry — when trust evaporates. Read more…
A good relationship with your lenders is important. You depend on them for liquidity and, in turn, they (rightfully) expect you to be forthright, timely, and capable in your communications regarding your financials. With that in mind, today’s newsletter looks at some “Do’s and Don’ts” when working with your lenders. Read more…
Making decisions based on what we think we know to be true can be dangerous — especially when what we “know” is either partially or wholly incorrect. Today’s newsletter looks at the three causes of this problem — flawed data, flawed models, and flawed thinking — and offers suggestions for avoiding these common traps. Read more…
Clear roles and responsibilities — that is, everyone knows what everyone is supposed to do and get done — represent a critical component of any high-functioning organization. Today’s newsletter explains why this is so and offers suggestions for implementing this in your business. Read more…
There is a great deal of variation in the services provided by accounting firms; one size does not fit all. However, the accounting firm you choose matters quite a bit, so it’s important to select one that fits your particular circumstances and objectives. Today’s newsletter reviews the essential factors to consider. Read more…
There is little doubt that a recession is on its way. The hard part, of course, is knowing when it will arrive. Regardless of the timing, there are things that every business should do now to prepare. Doing so will leave you in a stronger financial position when it occurs, and may even provide you with new opportunities. Today’s newsletter highlights four key things worth doing to prepare. Read more…