You Can Only Tread Water For So Long!
You Can Only Tread Water For So Long!

Most people when faced with treading water realize that at some point to get somewhere they either have to start swimming or drown. You only have so much energy to stay where you are. The same thing holds true for businesses!

You Can Only Tread Water For So Long!

A business can maintain the status quo for a period of time. At some point, however, they must start growing or the competition will surpass them. In this recession the goal for most companies has been just to survive. We have seen revenue for most companies settle in at a 30% reduction from a year ago. Cash flow has stabilized at a lower level and companies are not bleeding like they were.
Now is the time for companies to start swimming! You should be improving your sales efforts and products while you have the time to invest. When the economy picks up you won’t have the time to improve your company’s or your own skills. Over the past 2 months we have noticed an uptick in business sentiment. Companies are now starting to realize that the world is not coming to an end.
With that thought in mind they are starting to make inquiries for services to help them through these tough economic times. Are you ready for them? Have you been honing your staff’s skills and increasing the level of training of your staff? Are new skills and products being developed? Finally, are you increasing your marketing efforts before the competition?
By investing your down time into your people and systems you can come out of the recession in a stronger marketing and financial position than the one you went in with. Now is the time to start swimming!
To learn more financial leadership skills, download the free 7 Habits of Highly Effective CFOs.

[box]Strategic CFO Lab Member Extra
Access your Flash Report Execution Plan in SCFO Lab. The step-by-step plan to manage your company before your financial statements are prepared.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]

ARTICLES YOU MIGHT LIKE

Is Mexico the New China?

In the wake of the COVID-19 pandemic and escalating tensions with China, American companies are actively seeking alternatives to mitigate their supply chain risks and reduce dependence on Chinese manufacturing. Nearshoring, the process of relocating operations closer to home, has emerged as an explosive opportunity for American and Mexican companies to collaborate like never before.

Read More »

IP Valuation & Monetization For The C-Suite

Intellectual Property (IP) defines and protects the sources of goods and services in the marketplace, the products and services offered for sale and the content surrounding such offerings.  Whether trademarks, patents, copyrights, or other IP, it is critical that C-Suite strategy drives and shapes the creation, valuation use and monetization of all its intellectual property.

Read More »

The Accounting Gap Between Large and Small Companies

The Accounting Gap: It’s unfortunate, but true. A large gap exists between the accounting departments of large or publicly traded companies and smaller or private companies. In our past 25 years of consulting we’ve noticed that more often than not, these smaller/private companies will fill the gap with Bookkeepers, rather than the degreed Accountants/CPAs they

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

THE ART OF THE CFO®

Financial Leadership Workshop

Days
Hours
Min

August 7-10th, 2023

SHARE THIS ARTICLE
WIKI CFO® - Browse hundreds of articles