No matter what position you have or what division you’re in, you need to know basic finance. Check out AMA’s explanation of cashflow, budgeting worksheets, and more.
Every business encounters problems of varying degrees, but do you examine the cause of those problems well enough? Misdiagnosing the issue can harm your business without you even knowing it. Chia-Li Chien explains how to find problems before they become problems, and how to plan for the future.
In any purchasing decision, is price the main factor you are negotiating on? While price is an important factor, too many businesses overemphasize its importance. David Braun discusses the importance of understanding owner psychology in any merger or acquisition. See why price should be the last thing you talk about in a purchasing decision, especially if you are buying a company.
How can you tell if your company has been successful or not? The most accurate way is to use numbers. Key Performance Indicators and Benchmarks can help you determine if your business has succeeded or fallen short. Chia-Li Chien explains how your company can harness success by utilizing the power of numbers. See what you can be doing to give yourself every chance at success possible.
As your business continues to grow, are you ready for the next step? A private equity investment can vault your business to new levels, and often require additional funding and planning. Seth Harward offers his advice on the steps you need to take when considering an investment. See how a case study of a company that did this can help you prepare for a private equity investment.
What is your exit strategy? Do you have one? Without a succession strategy in place, it can feel like your business is working tirelessly towards an unknown goal. Implementing a succession strategy can help focus your company on a set list of goals, culminating in a profitable sale. Chia-Li Chien explains the three types of succession plans you can use, and why doing so is so important.
Are your contracts being maintained properly? How do you know if the services you have purchased are up to par? A growing trend in federal acquisition has been the rise of COR training. Contracting Officer’s Representatives can be a useful component of ensuring that you are getting the proper performance from your contractors. Mark Drager has worked in contracting with the Navy for over 30 years, and has some advice on what type of training is necessary for all CORs. See what all COR needs to know, and why their training could benefit you in the long run.
How should you approach someone when you are trying to acquire their company? Should you send an email or write them a letter? No. CEO David Braun explains why picking up the phone and having a conversation is the best way to set your company apart from your competition and turn your dream of a successful acquisition into a reality.
How does your business account for the factors that impact its bottom line? Sales, revenues, income, and other financial terms are all important, but many organizations fail to account for a more difficult, yet equally important, factor: Social change. Overman makes the compelling case that as we transition to what he calls the Conscience Economy, business leaders must adapt and transform what their business offers, as well as how they produce, operate, sell and engage others. With practical insights throughout, Overman equips individuals, organizations and brands with the necessary tools to make positive social impact the driver of their bottom line.
Are you worried about your business being overtaken by competitors? If you are not keeping ahead of the curve, you should be. Many companies fail to properly assess the future possibilities for growth, and as a result they never reach their potential. Professor Jay Friedlander introduces a strategic sustainability model called the Abundance Cycle TM which can help. See how you can implement this model to maintain perspective and maintain financial success.
Have you been mired in the same position for what feels like forever? Perhaps you’re not getting the best career advice out there. Most women do not know that they need to have financial acumen skills to be considered for a promotion in their company. You can get ahead by sharpening your business, strategic and financial acumen skills, says Marina Theodotou. In a competitive business world, closing the 33% gap that is made up by these three skills can get keep you ahead of the pack.
Is your company losing money because of wasted time and effort? Or is it operating below its peak potential because of inefficiency? LEAN production might be the solution to your problem. There are many myths about LEAN, a process improvement methodology, and Marina Theodotou is here to debunk them. See how LEAN can help your organization and why you should seriously consider investing in this efficiency-maximizing process.