In my experience, poor financial management is what causes most underperforming small businesses to fail or not achieve their objectives. Often it is a lack of understanding of how basic business finance works that inhibits owners and leadership teams. You need to fully grasp what makes your economic engine work to make the right investments and calculate appropriate risks.
Managing cash flow effectively is the lifeline of any business, especially for small business owners who often operate with tighter margins and less financial flexibility. Drawing from insights shared in a Vistage CEO Peer Group meeting discussion, here are fifteen best practices to help you master the art of cash flow management and ensure your business thrives.
As a small business owner, achieving and maintaining success requires a clear strategy and a commitment to continuous improvement. One effective way to ensure your business remains aligned and driven toward its goals is by adopting the FOCUSED model. This model encapsulates the key areas that successful organizations focus on, helping them stay on track
Running a small business is as challenging as it is rewarding, especially when it comes to financial management. As a business advisor, I’ve observed many common errors that can jeopardize a small business’s success. Here’s a breakdown of 20 of these pitfalls and practical advice on how to steer clear of them. 1. Maintain Accurate
Tony Robbins
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Read moreFor years, the simple answer was that the CFO leads a company’s finance function. But the role has expanded tremendously. Today’s CFO is a key colleague across businesses and functions, and is the CEO’s strategic partner in maximizing value creation. The CFO helps with shaping portfolio strategies, undertaking major investment and financing decisions, and communicating with […]
Read moreA chief financial officer (CFO) is the highest-ranking financial professional in an organization and is responsible for the fiscal health of the business. The CFO’s responsibilities include, but aren’t limited to, building a top-notch finance and accounting team, ensuring revenues and expenses stay in balance, overseeing FP&A (financial planning & analysis) functions, making recommendations on mergers and […]
Read moreIt has been said that success is where preparation and opportunity meet. Never has there been a more opportune time for CFOs to have an impact, with CEOs increasingly looking to them to help shape business direction and strategy. Once considered a numbers-only role, the CFO is now balancing traditional responsibilities with growing demand for […]
Read moreNoah Berk, Co-President of obo – https://theobogroup.com, shares his thoughts on leadership and business.
KPI.org is an online resource for KPI practitioners sponsored by the Balanced Scorecard Institute (BSI), a Strategy Management Group company. BSI provides consulting, training, and professional certification services to commercial, government, and non-profit organizations worldwide. BSI specializes in helping organizations: Become a high-performance organization Increase focus on strategy and results Improve organizational performance by measuring what matters Align the […]
View moreThe CPI inflation calculator uses the Consumer Price Index for All Urban Consumers (CPI-U) U.S. city average series for all items, not seasonally adjusted. This data represents changes in the prices of all goods and services purchased for consumption by urban households.
View moreRisk management is a process in which risks are identified and controlled proactively. It allows businesses to improve their chances of success by minimizing threats and maximizing opportunities. Risk management is essential to a business as it helps prevent financial losses and increase revenue. Other benefits of risk management include, Help to identify projects that […]
View moreCreated by Ray Dalio this simple but not simplistic and easy to follow 30-minute, animated video answers the question, “How does the economy really work?” Based on Dalio’s practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, […]
Ed facilitates panel of successful Maryland-based CEOs (for Founder City) to share their experiences as a founder and offer some valuable lessons learned for others who are following in their path, or are already in the midst of their own journey.
Ed’s books on Leadership, Life and Business will elevate your knowledge and give you the confidence to apply it to your personal and professional life.