CFO Selections Blog

Celebrating the Success of Women

Fri, 22 Jan 2010 14:16:02 -0700

We are living in interesting times — seriously challenging times economically. As a business owner, I am fighting to keep my business going and growing, in spite of the economy. Worrying about the economy and my business is very draining. To keep myself out of the doldrums, I take a step back, consider the larger picture and find something to celebrate.

To read the entire article, click here.

Management During Tough Times - A View From Both Sides

Thu, 14 May 2009 12:10:18 -0600

All of us are affected in one way or another by the current recession. Business owners and managers are facing very tough choices as they struggle to keep businesses afloat and profitable. Employees face the specter of potential or actual job losses. The resulting fear can immobilize workers and make it difficult for management to make and implement good decisions.

So what's a manager or an employee to do?

To read the entire article, click here.

Basic Financial Concepts Every Small Business Owner Should Know

Sat, 14 Mar 2009 17:13:29 -0600

Running a small business means you are handling multiple responsibilities. The product or service you sell is only one part of the equation – there is an accounting and finance component to running a business that can differentiate a successful business from a struggling business. You don't have to be an accounting expert, but you can save yourself a lot of trouble - and a lot of money - by understanding some of the basics like the time value of money, the difference between cash and accrual accounting, and why only some costs are relevant to business decision making.

To read the entire article, click here.

No Need To Fear The Annual Peformance Review

Mon, 09 Feb 2009 16:25:40 -0700

If we accept that employee accountability and measurement are good things, when tied to appropriate goals and performance expectations, how can we make the process useful to all concerned?

To read the entire article, click here.

Common Sense And Staying The Course In Tough Times

Mon, 09 Feb 2009 16:20:26 -0700

The past two weeks have been wild in the business world. Some of the pillars of Wall Street have fallen and the government is scrambling to pick up the pieces and prevent additional breakage. The taxpayers are groaning as the abacus beads fly, adding up the tab.

When times are bad, focus on the basics of good business: continue marketing, take care of your people, and, communicate your goals and strategies to your staff.

To read the entire article, click here.

Succeeding As A New Manager - Wisdom From The Trenches

Mon, 09 Feb 2009 16:11:18 -0700

Stepping into management for the first time is a huge challenge, whether you are an entrepreneur hiring your first employees or a corporate employee moving up. The biggest obstacle we face is simply not being prepared. It is a common misconception that as long as you can do the work well yourself, you can seamlessly transition into managing a team doing the same work. Not necessarily.

To read the entire article, click here.

Increase Your Sales With Excellent Customer Service

Mon, 09 Feb 2009 16:08:12 -0700

Research has shown that it is far cheaper to sell more to existing customers than it is to woo and win new ones. One statistic often quoted is that it can cost six to seven times more to get a new customer than to retain an existing one. So it makes good economic sense to keep your current customers satisfied and happy.

How? Simple. Make sure every customer receives truly excellent customer service.

To read the entire article, click here.

Advice From The Experts: You Can Pay Now Or Pay Later

Mon, 09 Feb 2009 16:04:47 -0700

In order for any business to function properly, many high-level skills are required. What skills? Think financial management, people management, legal issues, strategic planning and information technology, to name just a few. It is the rare entrepreneur who has them all. Fortunately, during the startup phase when funds are an issue, high-level skills are not usually needed full time.

To read the entire article, click here.

Everyday Ethics - How To Handle The Daily Issues We All Face

Mon, 09 Feb 2009 15:59:15 -0700

Big ethical problems and some of the big corporate frauds that have hit the headlines in recent years are pretty obvious to us all. But what about the smaller issues, those little ethical dilemmas that crop up during the regular course of doing business every day?

To read the entire article, click here.

Some Steps To Move To The Next Level Of Success

Mon, 09 Feb 2009 15:52:23 -0700

Continuing to run a business without a sound operational foundation is rather like running a sports car stuck in first gear. It looks sexy, but that car isn't going anywhere fast and it's hard on the engine.

To read the entire article, click here.

What To Do When Disaster Strikes Your Business

Mon, 09 Feb 2009 15:45:58 -0700

When disaster strikes a business and forces it to close, even temporarily, the impact is enormous. It affects all parties involved -- the business owner, whose livelihood is lost for a time, employees who can't work to support their families, customers who can't get critical goods, suppliers who don't get new orders, and the business entity itself, which may or may not be able to recover. So what should a business owner do when disaster strikes?

To read the entire article, click here.

Listen To The Stories Your Financial Statements Tell

Mon, 09 Feb 2009 15:41:53 -0700

Financial statements tell the story of a business. It can be a story of stellar success or a warning of looming crisis. The numbers are not just financial details, but form actual shapes that offer information to help an owner keep his/her business on track.

To read the entire article, click here.

Big Mistakes Small Business Owners Can Make

Mon, 09 Feb 2009 15:34:30 -0700

There is a saying that those who ignore history are doomed to repeat it. In business, those who refuse to learn from mistakes are likely to repeat them, too. Read the contract, consult advisers, negotiate, and remember profit - not revenue - is what counts.

To see the entire article, click here.

Translating Your Dream Into Business Reality

Tue, 03 Feb 2009 17:02:59 -0700

A long time ago, a client asked, "How do you run a business?" We replied, "Running a business is just like sailing to Maui."

To read this article click here.

Staying Out Of Trouble When Firing An Employee

Tue, 03 Feb 2009 17:00:52 -0700

Even when done with the greatest care, a hiring decision can head south fast. If not dealt with promptly, the resulting problems can spread like a cancer, negatively impacting the rest of your team.

To read this article click here.