As vaccine distribution increases and most Americans can be vaccinated by May of 2021, most states are on the pathway to a ‘new normal’ for society and businesses. Your most important responsibilities as a leader of your company are to evaluate your organization and how it must change going forward, determine how to adjust your strategic plan, and clarify what recovery is for your business.
In time of crisis, the importance of a seasoned CFO is crucial to a small business’ ability to survive and thrive.
We’re in the midst of a once-in-a-century pandemic, and uncertainty has never been greater. Each week, and sometimes each day, presents a new challenge, and some of those challenges present issues that we may not be prepared to face. But we persevere. It’s been five months since the wave of […]
We all realize that leadership is the key to successfully moving a business forward. This is the case during good times, and even more so during challenging times. Successfully moving forward during turbulent times is often accomplished by brainstorming alternative actions. Alternative actions can include various strategies that I categorize […]
You may have a budget and may be fortunate enough to be tracking to budget, but in the current economy with mandated shutdowns and unpredictable revenue, you must also have a cash forecast. A cash forecast can help you quickly adjust your operations to avoid running out of cash. Most […]
Most of you who are reading this did not have an action plan for responsiveness to a global pandemic. The risk of this occurring was unlikely, remote or improbable. But COVID-19 has swept across the globe and most business strategic plans for 2020 have been thrown out the window. But, as the calendar […]
According to the Small Business Administration, roughly 20% of small businesses fail during the first year of operation. That’s a surprisingly low number considering the commonly held belief that most businesses fail within the first year. Longer term, half of small businesses survive for five years, and only one third […]
WhatIs.com defines Disaster Recovery (“DR”) as “an area of security planning that aims to protect an organization from the effects of significant negative events. DR allows an organization to maintain or quickly resume mission-critical functions following a disaster.” I think this is a fairly good definition. Your DR plan must […]