TAG: financials

Compete by mining your financials

October 16, 2018By
Report image (Photo: iStock.com/Worawee Meepian)

How can average companies compete against large companies and lowballers? That’s the question. Here’s the short answer: They can’t. Average companies are just that—they’re average. Middle of the pack. Not special. Neither good nor bad. Just average. Polls have shown that in America, the majority of people consider themselves above average—a mathematical impossibility. If you are average, then competition will... read more

High Performance: Eliminating the cash crunch

February 10, 2016By

Managing a seasonal business often translates into regular cash crunches, as both revenue and expenses ebb and flow throughout the seasonal cycles—and not in unison. The good news is there are plenty of companies in our industry who have successfully conquered the seasonal cash crunch. What can we learn from these companies? First and foremost, they study their financials regularly.... read more

Five steps for successful strategic planning in 2013

November 8, 2012By

Now is the time to assess this past year and make plans for improved performance next year. Involve your staff and create a strategic plan that everyone can support. Here are 5 steps towards improved profits. 1. Assess your financials. Compare your numbers to last year, and of course, to your budget.  But don’t stop there! Assess each of your... read more

Open your books for profit

January 1, 2002By

Businessman Dan Foley and other players on his team huddle at 7 a.m. every Tuesday morning. There are usually about 10 people in the huddle. They're forecasting the financials for the month. read more