Tag Archive : business management tips

The horror stories of business partnerships gone awry, often sound like bad divorces. Most of these stories serve as cautionary tales as to why we should never take on a business partner.  Of course, it’s possible to start and grow a business without partners, but there’s also nothing wrong with a good partnership. So should…

Accomplishing more in your company often seems like a tall (but necessary) order. While most of us have some room to improve productivity, it’s a tough balance. Chances are you’re already burning the candle at both ends. Demanding more from your workforce can become demotivating and result in the opposite of the desired effect. So…

Dear CFO, My company recently implemented a mandatory vacation policy because the CEO believes we will benefit personally from time off, and the company will benefit from a happier, healthier, and more creative workforce. I’m concerned about how to manage team vacation requests. As you know, the workload doesn’t change based on who is in…

As the CEO, your job is to lead with vision and build a business that is both scalable and sustainable. If you did your job well, you hired the right people, set the priorities, and gave your team the resources they need to manage the day-to-day operations. So, why is it so tough to unplug…

Dear CFO, Our company is looking for a new ERP system. My CEO just informed me that I am leading our ERP system selection process as well as participating in the implementation team once we find the right fit. I’ve purchased accounting software in the past but selecting an ERP system seems like a BIG…

In the business world, we’re all about systems. Software and programs help us manage all aspects of our office life. But, of course, as time marches on, systems become outdated. If you’re considering an upgrade or update, there’s an art and a science to selecting a new system. No matter which business system you are…

Recently, a Project Manager in St. Louis asked me about due diligence and acquisition integration. They were coming into the acquisition process with no previous experience. First, we addressed the due diligence process, but the other piece of the acquisition comes during the integration. Integration project management and planning is vital during this step. Informing…

Your company made an acquisition. Now what? Now comes the easy part – NOT!!  Successful post-acquisition integration is more of an art than a science, but a solid implementation plan is critical. Large companies typically have experienced integration teams that are trained to handle post-acquisition planning and still a significant number of acquisitions fail to…

Dear CFO, Whenever our business does forecasts, the owners only care about the P&L (Income Statement). As the Controller, I want the business forecast and budgets to include a balance sheet. How can I convince them it’s equally important to forecast the balance sheet?  I also need to develop a model to forecast the balance…

What constitutes an advisory board? Who should participate on an advisory board? Is an advisory board the right fit for my business? While most private companies aren’t required to have a formal board of directors unless investors or their banks insist, advisory boards bring value to the business. Even if you are the sole owner…