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…
Every business faces risk. Fortunately, some of these risks can be transferred, primarily through various types of insurance. Many other types of risk cannot, and so the business owner is stuck with them. In today’s newsletter, in which I use business interruption as an example, I explain how to identify non–transferable risk and offer suggestions regarding what to do about it. Read more…