Archive for March 2020

Part II Minimizing Risk By Philip Elworth This is the second in a series of white papers on getting your business ready for a transition. As previously discussed this could mean a sale, a recapitalization or a gift. There are many things a business owner can do– long before the time to transition– to maximize…

Part I Growing Revenue By Philip Elworth This is the first in a series of white papers on the topic of getting your business ready for a transition. This could mean a sale, a recapitalization or a gift. There are many things a business owner should do, long before the time to transition to maximize…

By Philip Elworth Millions of Baby Boomers own their own business, where they have also stored the majority of their net worth. Sometime over the next 10-15 years these businesses will need to change hands. Many of these owners, if they consider their transition at all, will say they will sell the business when the…

Every Church Regardless of Size Needs a Chief Financial Officer I once heard a good definition of a CFO, someone who solves a problem you didn’t know you had in a way you don’t understand. There is some truth in this statement but in actuality a CFO really looks to the future and helps you…

Owners do not start their businesses hoping to spend a lot of time on accounting and finance but rather to do what they do best. All owners, however, need to have a high enough level of financial intelligence to know they are making the best possible decisions for their business. In addition, the more financial…

Have you ever witnessed an organization operating at its peak performance? When this happened did you notice that all parts of the organization were pulling together for one stated goal? What causes an organization to operate like this? Why doesn’t it happen all the time? In my opinion, if you were to dig deeper, you…

Steven Covey – Harris Poll Steven Covey in his book The 8th Habit, which I highly recommend, quoted the results of a Harris Poll of 23,000 U.S. residents employed full time within key industries and in key functional areas as follows: Only 37 percent of those polled, said they have a clear understanding of what…

Whether you are planning a personal strategy, a business plan or a production process, I have found that strategic planning follows the same steps. The first step in this process is to decide what is important. What is your mission, your vision, your values? What are the guiding principles you will use to filter every…

What do you think of when you hear the term true north? The technical definition refers to the line up the earth that takes you directly to the North Pole. A compass on the other hand points you to magnetic north. So which is correct? How do you know where you are going? I would…

By Philip Elworth Three things need to happen at the same time if you want change to occur. You need to change the situation and you need to influence both the heart and mind of those who need to change. Kotter and Cohen say in their book The Heart of Change that real change happens…