• How can Social Media dramatically impact your reputation?

    Social networks present enormous branding opportunities, but also critical reputational risks to businesses, according to an August 2012 study by Altimeter Group. When asked to estimate the level of risk that social networks present for businesses, 35% of the respondents – for whom social media risk management is their primary or a significant part of their responsibility – identified [...]

    Read more

    Strategy on its own is not enough

    Graham Bowman is CEO of a manufacturing and distribution company.  He has grown the company from its birth and is very hands on as its chief executive.  But Graham is starting to experience growth pains as the company evolves into a corporate entity where management and delegation are required, rather than hands on execution.  Graham himself is struggling with the transition, as are his [...]

    Read more

    Identifying & leveraging your Key Performance Indicators

    In an article on About.com, F. John Reh defines Key Performance Indicators (KPI) as “financial and non-financial metrics used to help an organization define and measure progress toward organizational goals. KPIs can … assess the present state of the business and assist in prescribing a course of action.” Informationbuilders.com describes KPIs as “high-level snapshots of a business or [...]

    Read more

    Business success starts with WHY

    We are slowly but surely evolving into an instant gratification society.  A society that looks for the quick answer and buys its way into satisfaction - or so we think.  If that satisfaction was so satisfying, why are we continually looking to satisfy ourselves even more with the next great widget or experience? This whole drive for instant gratification leads me to believe that people are on [...]

    Read more

    Payables policies and practices to improve cash flow

    In our recent article on Cash Management, we briefly discussed the importance of payments in the cash flow cycle. The focus of this article elaborates on the importance of managing accounts payable and a number of key issues. In our recent article on Credit Granting Policies To Improve Cash Flow, we briefly discussed the cost of cash discounts in speeding up cash collections. In this article, we [...]

    Read more

    When is social media and digital marketing right for you?

    This question is often missed when people prepare their marketing strategies - most likely because they don't really ask the question.  Often people are blinded by the bright lights and sexy appeal of anything digital and they fail to ask the really pertinent questions that will help them with the correct answer. Before trying to find the answer to the question above, you should ask a few more [...]

    Read more

    Coaching your Controller – Part 2

    As the owner of your business, do you have a person heading up the accounting function who has limited or no experience managing an accounting and finance function?  Very few SMEs will have an accountant with a designation and strategic skills in that role, which for convenience I will refer to as the Controller (other common titles are Accountant, Office Manager, Accounting Manager, etc.) As a [...]

    Read more

    What the world's business leaders are thinking

    A new IBM study of more than 1,700 Chief Executive Officers from 64 countries and 18 industries worldwide reveals that CEOs are changing the nature of work by adding a powerful dose of openness, transparency and employee empowerment to the command-and-control ethos that has characterized the modern corporation for more than a century. The advantages of the fast-moving trend are clear. [...]

    Read more

    The difference between Marketing and Sales

    Many business people still struggle with the difference between marketing and sales.  In reality, the differences are quite significant and unless recognized, could stunt the growth of your business. Recently, I came upon the best definition of marketing and sales I’ve seen in a long time.  Most definitions are textbook based, but this one came from a most unlikely source – the writer of a [...]

    Read more

    Customer service is more about what you don't do

    Recently my daughter ran into a problem at the car dealership where she bought her car. When closing the deal the business manager arranged financing through the bank and explained the conditions to us.  The most important issue to my daughter was the amount that she needed to pay.  When she ran into problems with the bank after a month, she approached the dealership that had provided us with [...]

    Read more