Category Archives: News

Goodrich & Associates

Is Your Organization Getting in Its Own Way? (September 2024)

Despite best efforts to communicate direction and hire well, many organizations struggle to achieve their goals. Often, the problem is one of internal bureaucracy, which prevents employees from completing tasks effectively. An “enabled organization” empowers individuals by ensuring they clearly understand their objectives, have the time and resources to achieve them, and the authority to make decisions. This month, I explain the five necessary characteristics of an empowered organization. Read more…

Goodrich & Associates

Sell, Don’t Liquidate! (May 2024)

Selling a distressed business is almost always better than liquidating. But it is not easy, nor is it the same as selling a business that is healthy and solvent. You’ll need experienced, capable professionals by your side and a bias towards moving quickly. In today’s newsletter, I review the necessary steps for getting this done and share pointers for avoiding common pitfalls. Read more…

Goodrich & Associates

Why Worry? My Business is “Profitable” (April 2024)

Often, business owners incorrectly assume their business is profitable because they rely solely on financial statements. While these are certainly important, a true picture of business profitability requires understanding economic profit as well. In today’s newsletter, we explain the distinction and look at why evaluating economic profit is critical in assessing true financial performance. Read more…