Glen's Articles & Media
How to Raise Prices Successfully
Have you considered raising prices as a way to increase revenue? If so, you may be worried that it could harm customer relationships and even cause you to lose business. To learn strategies to raise prices successfully, I recommend reading this article on Americanexpress.com.
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Steps to Plan Successfully in Economic Uncertainty
Financial planning in a normal year is a complex endeavor, yet when you add continuing economic challenges due to Covid-19, the difficulties are compounded. As a result, leaders must take quick action to deal with the immediate future while not ignoring planning long term. To learn some strategies to manage this more effectively, I recommend…
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The Secret to Navigating Tomorrow’s Challenges
A common denominator of companies that successfully navigated through the previous tumultuous year was an engaged CFO. In these cases, the CFO worked with other business leaders to 1) stabilize the business, 2) find opportunities to increase efficiency and reduce costs, and 3) develop plans to manage future scenarios. If your business has not benefited…
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Reignite Growth With These Important Lessons
While this has been a year like no other and we are facing an uncertain future, you should maintain focus on growth beyond this short-term environment. During economic downturns, the tendency is to halt growth initiatives; however, recent research reveals that would be imprudent. After an analysis of 60 recent growth transformations, McKinsey & Company…
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Easy Steps to Complete Cash Flow Projections
This year and next are posing new and possibly unique challenges. Staying intimately aware of your cash flow is as important as ever to help you make critical financial decisions. You may not know what to expect and may have to do some “out of the box” thinking, but it is vital to do your…
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The Key to Planning a Successful Exit Strategy
All business owners will exit their business at some point. An exit plan will improve its success. While no two exit plans will look the same, one thing that should be consistent is getting started early. By determining your goals, strategies, and operational procedures early in the process you will be able to optimize increasing…
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What is a Cash Flow Statement and How to Use it Effectively
Most business owners understand that cash flow is the lifeblood of their business. However, the indirect method commonly used in GAAP financial statements is often confusing. A deeper understanding of the multifaceted cash flow statement and the use of a more direct method can determine a business’s future viability, particularly in times of crisis. To…
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Increase Success With Ongoing Company Value Assessments
Ongoing assessment of a company’s value drivers is key to success. Regardless of the economic environment, company value should be monitored periodically. Business owners and executives must identify and understand what drives value both quantitatively and qualitatively. To learn about 10 essential drivers of company value, I encourage you to read this article on ValuationResearch.com.
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How to Develop a Flexible Financial Plan During Uncertainty
During this unprecedented time, existing financial plans and assumptions must be revisited and revised to maintain flexibility as conditions change. If you’re looking for a great guide to learn how to do that, I highly recommend reading an article I recently read by McKinsey & Company. Regardless of your company’s liquidity or risk tolerance, I…
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Strategies to Keep Your Company Healthy
It is natural for companies to focus on cost-cutting strategies during times of economic downturns. However, this limited focus can run a company quickly off-track if other strategies are ignored. To learn about a wide variety of strategies that should be considered, I encourage you to take a look at this article on deloitte.wsj.com. While…
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