A recent article with the same title recently appeared in CFO magazine. The article points out a recent CFO survey that 25% of the respondents describe their relationship with their banker as strictly transactional – that is, their bank thinks of them simply as a source of revenue.
CFOs apparently are motivated by their dissatisfaction with bank’s customer service and are prepared to take some action. … Read more >
I just hung up the phone with a client. I had told her to print the cash flow statement for the prior month. (She uses PeachTree. Quickbooks has an embedded cash flow statement as well. So do most financial software packages). She printed it, faxed it to me and we began discussing it. … Read more >
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 involved with a company that determined the wisest course of action was to increase market share. … Read more >
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. … Read more >
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 that the company would save 15% on these products once transfer of production took place.… Read more >