All blogs and articles that relate to the operations of a business

Professional Brawn, and Why You Need Some

In a recent interview, I was struggling to find a term to describe someone who had worked their entire career on building up a strong foundation of knowledge, contacts, successes, and failures; someone who had learned a bunch about being successful in business the right way, who knew how to build and foster mutually beneficial relationships, and who was humble enough to still hunger to le

What are your early warning signs?

Business is full of uncertainty and we all seem to be searching for ways to bring clarity, order and consistency to our businesses. Setting up systems to track our progress and give us early warning signs can play a critical role in managing the uncertainty most effectively.

Don't Fight Change - Embrace It!

Technology seems to be changing every day. What was the norm yesterday quickly disappears into the past as the old, archaic way of doing things. Yet I hear so many people who fight against and resist these changes.

Centralize or Decentralize

As businesses grow their operations to new states, countries, and continents, they have to grapple with the question of running their business as a centralized operation or as decentralized business units. Centralized businesses grow large, but their hierarchy grows too, usually into a complex web of political, silo-ed, unproductive bureaucracy.

One “Issue” Your Business Should Avoid: Customer Concentration

My 6-year old told me yesterday that she is having so many “issues” right now. I was quite concerned but luckily these “issues” only included an arm that was hurting and a runny nose. Whether it’s your 6-year old, spouse, boyfriend, girlfriend, or business, having “issues” in life is never a good thing. 

Deadlines

A few weeks ago I was trying to coordinate a transaction between two companies.  Each company needed buy-off from their respective CPA’s on issues relating to tax.  After several attempts to clear a time on both schedules I realized why I was running into difficulty: the deadline for tax filers who filed an extension was October 15th (17th this year).  There

Do You Know When to Celebrate?

Watching last night's World Series game and seeing the Cardinals celebrate the walk-off home run by David Freese was amazing. I love seeing people live out their dreams and having success.

Sharpen Your Knife

My son recently turned 8 years old and the traditional present from his grandparents on that birthday is a pocket knife. Both my wife and I think this might be a little young to be receiving a pocket knife as we have experienced the results of young boys with knives.

Ask for Feedback (Disclaimer…It May Hurt)

Ask for feedback?  We all are eager to receive that constructive criticism right?  Yeah, like a trip to the dentist or a final exam.  While we may not enjoy the process, feedback is critical to our growth.

Is your business like a soccer team full of 4-year olds? I hope not!

My 4 year old boy just started playing soccer. While it's very entertaining to watch, it reminded me of a horribly dysfunctional business that lacks the financial reporting and leadership all businesses require to survive and thrive. 

Undefined roles

Why the 9-80 Schedule Doesn't Work for Entrepreneurs

What is the 9-80 Schedule?

Top Eleven 2011 Trends for Entrepreneurs

As we launch into the new year, here are the top 11 trends that entrepreneurs need to be aware of, think about, and for which we should all prepare:

Most Popular Blog Posts of 2010

2010 has been a very good blogging year for CFOwise®. In the spirit of planning for a great 2011, here are the eleven most popular blog posts from the year 2010:

The 2 Problems with Dashboards

There seems to be a lot of buzz around businesses having a dashboard.  Even Intuit has jumped on board and tried to provide this functionality in QuickBooks with its Snapshot Center.  For those unfamiliar with this concept, a dashboard is one place a business owner should be able to look to see all of the key metrics and performance indicators of their business.  To learn more about this concept, please visit my blog post: The Key Business Metrics Every Entrepreneur Must Know.

Working Capital - Less is Often More

Although the phrase "working capital" is common in business and finance circles, it is often very misunderstood.  Here's an example: if I asked you if you would rather own a business with a lot of working capital instead of a little working capital, what would be your answer?  Most people would prefer the business with a lot of working capital.  But the answer is not that simple, and, in many cases, smaller working capital actually indicates better management and cash flow generation.  I will take a few par