Each time I read an article telling me to focus more and more on the future, I just roll my eyes. Continually, I’m reading that my peers and I need to be shifting our focus from the past to the future. This advice is concerning and even misguided because we’re all different. Every person looks…
Remember the Chicago Bulls of the 1990s? Michael Jordan was the ultimate A Player. What about Pippen, Grant, Paxton, or Kerr? Were they A Players or B Players? In sports, we can easily pin the labels on the players we follow. How about in business? Perhaps some definitions are in order. Performance and Replaceability Ask…
Yep, there are just two types of business acquirers–strategic buyers and financial buyers. But we want the third kind. You know, the ones that will pay top dollar plus much more. Let’s Review the First Two Types of Buyers Strategic buyers are always top of mind. When you and I start brainstorming with our clients who…
Have you figured out the bookkeeping and accounting issues facing small businesses? That’s precisely what I thought. It’s really bad. Back in 2001, I seriously considered never doing consulting work again because every small business bookkeeper or accountant that I encountered thought they were experts. Most were not. I continually observed the gap between their perceived…
Nearly 60 million men and women play fantasy football and one organization estimates the average player spends more than $600 annually on this intoxicating indulgence. Thanks to my youngest son, I too play in a fantasy league. To plagiarize Tony Horton regarding his sadistic Ab Ripper X routine, “I hate it, but I love it.”…
I read close to 100 books every year. But I’m not sure that I’ve ever read a book on business plans. I probably won’t either. I did, however, enjoy the 1997 classic from HBR, How to Write a Great Business Plan (you’ll need to buy the reprint). Business Plans Are Not Just for Startups When…
I don’t bill by the hour. Hourly billing is just really, really senseless. We’re the best CFOs in the world. Why give away value by becoming a professional services prostitute? Ouch. What side of the bed did I wake up from? The right one, the same as always. Hourly Billing – My Brief History Let’s…
I think I’ve facilitated a grand total of 2 SWOT analyses with small groups. Even with my clients in one-to-one meetings, I can count on one hand the number of times we’ve gone through this exercise. However, I have suggested to several CEOs that they apply some emotion to their SWOT exercises when conducting off-site…
When was it? I believe it was around 1992 or 1993 when I first heard the term EBITDA. I was confused at first because I think I heard at least four different pronunciations of the name. I was skeptical from the very beginning–I saw way too many peers from the financial and operational ranks who…
Within one 12-month period, I became the sounding board for two start-up microbrewers. I told them they were wasting their time. I was ignorant about this industry. I even joked that I was the all-time designated driver for friends and colleagues. I think both founders were hard of hearing. They kept calling me asking for…
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