Financial Management

Are You Measuring the Right Things?

In business there seems to be an unlimited number of things to measure. But the question is, are you measuring the right things? Read the rest of this entry »

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When the Economy Slows What is Your Plan?

Think about this, when the economy slows what is your plan? Throughout history the economy has had periods of growth, decline, or merely remaining stagnant. Often a company is humming along nicely when suddenly, Read the rest of this entry »

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Absolutes and Business Wisdom

Both absolutes and business wisdom are relevant to operating a business. Just what does that mean?

Business absolutes are things like the balance sheet must balance. Wisdom involves things that you don’t have to do but that require the ability to discern what is best. An example of wisdom is whether to use Read the rest of this entry »

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Be Cautious in Your Assumptions

Assumptions make it more efficient to operate but also can harm results, so it pays to be cautious in your assumptions. Read the rest of this entry »

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80/20 Targeting

If you find yourself getting off track in trying to stay focused on a major project, then 80/20 targeting is a technique that likely can help you. Read the rest of this entry »

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80/20 Accounting

The 80/20 rule (Pareto Principle) is one of the most useful we will ever encounter. Let’s discuss its use with 80/20 accounting. This is about focusing on the 20% of customers, products, expenses, etc. that account for most of our company’s results. Read the rest of this entry »

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Consider a Variety of Business Information

Do you consider a variety of business information when making decisions, or are you stuck in the habit of only looking at a few things you think are important? Read the rest of this entry »

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Remember What Your Business Is

Do you ever get so caught up in details that you essentially fail to remember what your business is? Of course this question is a little tongue-in-cheek as I doubt anyone truly forgets what they are selling. Rather this has to do with how we all can get so distracted by the nitty-gritty details of running a business that we Read the rest of this entry »

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Keep Business and Personal Spending Separate

You’ve probably heard it is a good idea to keep business and personal spending separate. There are some very good reasons for that. Read the rest of this entry »

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Financial Literacy for Business Owners

If you are a business owner you may already be financially literate, but just how strong is that literacy? Even if you are there are likely some things your CFO, Controller, or in-house accountant can do to improve your understanding of your financial situation. On the other hand if you aren’t financially literate then these same people should be helping you to become so. Read the rest of this entry »

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