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Do We All Agree on what "numbers" mean?
"Lynn," she said, "you need to stop talking about numbers. Nobody knows what you mean. Can we call it data, or financials, or something other than numbers?"Before we get into different types of numbers, we must first zoom out and explore what numbers are, what they do, and the perspectives they offer.
How Unconfidence Costs Your Business: Steps to Build Financial Confidence
Declining financial confidence has a hidden cost you won’t find on your income statement. This blog breaks down the hidden costs and how to achieve desired outcomes.
How Do You Confidently Navigate to Business Success?
In traffic, not knowing what’s ahead is stressful. Sometimes you trust your gut and take a new route, other times you sit and stew, wishing you had known sooner. Business is no different—
Why I Love What I Do AS A CFO
Numbers tell a story, but it’s the emotions behind those numbers that truly matter. Business owners carry the weight of responsibility that comes with running a business. The pressure to grow, the fear of making the wrong decisions, and the realization that your family, employees, and clients depend on you can be overwhelming. But it doesn’t have to be.
More Behind Than Ahead. Are You Ready?
Pausing to reflect on what has happened, assess progress, and recalibrate goals is critical for the rest of the year. We meticulously plan for celebrations. We must also prepare our businesses for the challenges and opportunities ahead.
Do You Plan Like Your Future Depends On It?
You are building a business that will likely be a major part of your retirement plan. As your business grows, you’ll work with various financial experts, including accountants, CPAs, tax advisors, and financial planners. Who coordinates all these experts? Do you have a CFO? If not, who is the finance expert working side-by-side with you?
CREATE VALUE BY GETTING BACK TO BASICS
Running a business requires fundamentals that must also be mastered for success. If the business does not have the skills on staff, many specialized service providers, coaches, and consultants stand ready to fill any knowledge gap. But here is your conundrum: How do you make sure the person you are hiring is doing a great job when you do not know what they should be doing?
Bad Data is Killing Your Profit!
Some decisions we make have a hidden cost that we never think of. MIT/Sloan estimates that the cost of bad data equals 15-25% of total revenue for most companies. As the progression below demonstrates, bad information starts with bad data:
Ready to Hop On Your Confidence Carnival?
Confidence is something we all struggle with. I mentioned self-limiting beliefs that are in your head and mirror. New can be scary.
BUILD CAPABILITY TO BUILD CONFIDENCE
Senior business leaders face the widest variety of confidence struggles. Here are five that weigh heavily on anyone in the corner office:
Are You Happy You Made $1 Million?
The difference between those emotions? Your plan. If you didn’t have a plan, you got lucky!
WHY EVERY BUSINESS NEEDS A CFO
Reigniting the Magic
Data2Profit is almost 5! As I look back, I can’t help but reflect on what a journey it’s been! Over the years, I’ve had the privilege of working my magic with various businesses across all kinds of industries. But I realize every client has three things in common…
Even the Cost of Dirty Deeds Has Soared!
There’s nothing funny about inflation, but at least one business has kept its sense of humor. More importantly, they adjusted prices and set new expectations with their customers!
Some Numbers Are More Important Than Others!
All numbers are not created equal. And some... are much more important. As much as I love talking business, today I’m asking you to think about some very different numbers, with very different consequences…
I want what is best for you!
From our backyard wedding to the outside world, “I want what is best for you” can these days seem hard to find. The news and social media endlessly highlight the political extremes, soaring crime, social injustice, and divisive court decisions.
Broken Record
The economic news is not getting better. Inflation hit another 40-year record. The Fed hints at a .75% rate hike. Stocks are in bear market territory. Inflation may not have peaked yet, and the prospects for a “soft-landing” seem to be fading.
Why do you do what you do?
Connecting today to your future requires a longer-term perspective. While we all dream about life in retirement, most of us aren't great at actively preparing for it. Consider this: 64% of Americans either don’t think their savings are on track or aren’t sure…
Does Your Company Use Accounting, or Just Do Accounting?
After understanding their situation and asking a few questions, we agreed on a six-session introduction to business financial management. Each week they will invest in 2½ hours of in-person training + homework exploring
It’s so hard
We have all screamed that more than once, usually when technology or information fails us. Have you ever had an experience like this?