Check out CNBC’s interview with Sara Daw, Group CEO of The CFO Centre on the rise of the part-time CFO:
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A True Toy Story: LEGO’s Incredible Turnaround Tale
The story of how LEGO, the family-owned toy company went from teetering on the brink of disaster and hemorrhaging cash to delivering the highest revenues in its entire history and being voted the 2017 Most Powerful Brand in the World makes for a truly inspirational tale…
Fourteen years ago, LEGO’s Head of Strategic Development Jørgen Vig Knudstorp delivered the kind of assessment that most managers would gladly superglue their own ears shut to avoid hearing.
Hear the words ‘corporate espionage’ and you might think it’s only something that corporate giants need to worry about.
But that’s not the case. Corporate espionage is something that can affect companies of any size. And despite what you might believe, the threat is highly likely to come from within your organisation.
The corporate spy could be a satisfied or disgruntled employee, a manager, or a supplier, according to Rick Orloff,
Coffee is one of the most sought after commodities in the world but even that fact doesn’t make coffee traders immune to economic turbulence.
Such was the case for family-run green bean coffee merchant D.R. Wakefield. During one particularly volatile period, the UK-based business was subject to some tough grilling by its bank but just didn’t have the wherewithal to supply the answers.
“We simply didn’t have enough background information, data and statistics collated in a manner required by the bank,” recalls CEO Simon Wakefield.
Rapid growth is the stuff most entrepreneurs dream about as they take their fledgling company through the early years but when it happens, it can quickly become the stuff of nightmares.
The bubbles in the celebratory champagne—“Here’s to our success!”—barely have time to go flat before the problems arise across the high-impact growth or Scale Up business.
Suddenly owners are beset by problems involving the people they’ve hired or not hired,
If You Want To Succeed, You Need To Embrace The ‘F’ Word
What do Sir James Dyson, the Mercedes F1 team, Pixar, Google and the airline industry have in common?
They’re hugely successful, yes. But the thing that links them is they never shy away from the ‘F’ word—Failure. Instead, they face and learn from their mistakes, errors and mishaps. So says Matthew Syed, award-winning Times journalist and best-selling author of ‘Black Box Thinking: Marginal Gains and the Secrets of High Performance’ (John Murray).
Do you dream of selling your business for a very tidy profit so you can retire and spend your days on luxury cruises or working on your golf handicap?
Well, without an exit plan, your dream may be just that; a dream that never comes to fruition.
Sell at the wrong time or without thinking about the impact of taxation, for example, and you really could be left with nothing to show for your years of hard work.
All too many business owners think that the battle is won once the marketing rolls out and the product is sold. They see that their investment of time and resources has paid off and therefore, assume that their goal has been achieved.
However, the fruit of these hard-won victories will quickly run out if the accounts receivable, as well as the accounts payable, is not carefully maintained with a structured cash-flow management plan.
Ask any bank manager who their worst customers are and they will quickly tell you: the people who have no idea what is going on in their business. Some customers ask for finance or expect to maintain an overdraft, yet they cannot even produce up-to-date accounts!
As a business grows, it will need to delegate key tasks to experienced and qualified team members. The areas the business owner will seek help in first will be determined by the focus and needs of the business;
Despite some analysts’ grim financial forecasts, 2016 can be a year of exponential growth for your business. The key is to think big and to think outside the box.
Instead of making a list of all the ways you can cut back, make a list of all the ways you can increase your revenue tenfold. Once you have done this, narrow it down to the best three.
Now, you will need a plan of action.