Michael's Articles & Media

Your Business Matters Radio Interview

Recently, I had the opportunity to be the guest on a local radio program that focuses on business. Follow the link below to hear what followed… Find the MP3 player and click on Guest – B2B CFO® http://yourbusinessmattersonline.com/about.html

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Plan Your Work And Work Your Plan

I’m a strong believer that you learn more from mistakes or failures than from your successes. Often, those mistakes may have been very painful experiences, but very valuable. I also think my father provided very sound advice: “Learn from your mistakes, but it’s cheaper and less painful to learn from other people’s mistakes!” I was…

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Stop Taking Physical Inventories Cycle Count

Back in 1989, I led what was then called an MPR II implementation project for Thunderbird Formula boats (http://www.formulaboats.com/). We had many objectives that we wanted to reach and one of them was to be able to look at the quantity listed as “On Hand” and trust the number was correct. For too long, our…

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Not Knowing Your Costs Can Kill You

Many years ago, I went to work for a rapidly growing, successful company. One of the first items presented to me was the company’s effort to move production of the top two selling items in the firm to a production facility in Mexico. Management was really excited about this opportunity. I remember distinctly being told…

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Don’t Ignore The Tax Consequence

I’m not a tax expert. In fact, I admit that I prefer to avoid questions related to taxes. .. that doesn’t mean I ignore taxes altogether though. Fortunately, I have a pretty good idea of what I know well enough to provide advise and that line where I need to get help. Unfortunately, many firms…

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Like A Good Marriage It Takes Commitment

I remember it like it was yesterday, I was involved in a full scale argument with my wife of about 3 weeks. Now, understand, I grew up in a house where I never heard my parents argue. It just wasn’t done. Sure mom and dad had discussions together when they disagreed, but a raise-your-voice-heated exchange?…

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You Get What You Measure

As a business person you need to have goal clarity. One of my B2B CFO® partners, Rick Daigle wrote a great blog on the importance of goal clarity that I strongly recommend (Osprey parenting). In his blog, Rick points out that the male Osprey knows that he has to catch six fish every day to…

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Close The Loop

For management to have a good idea of what is taking place with their company, they need to have access to all the information related to the company. Many firms are satisfied looking at information after the fact, when they review the financial statements. Unfortunately that is almost always too late. I’ve seen it happen…

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Flexibility The Key To Sound Budgeting

Early in my career, I had a narrow view of budgeting. To me, budgeting was a very constricted exercise that an organization plodded through annually. At the end of the process, the company would generate a very defined budget that was “hard-coded”. By hard-coded, I mean a set number or desired number for each account…

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Budgeting Full Cycle Completing The Task

Once a budget for revenue and expenses for the year is established (see last month blog, Flexibility-The Key to Sound Budgeting), I strongly recommend that you continue on and also budget for balance sheet items. To be honest, there was a time in my career that I viewed trying to budget assets and liabilities as…

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