We have a long-term client that manufactures custom products for their customers. One of those customers contributes over 80% of the company’s annual revenues, a situation that has been in place for years. We call that “concentration,” a condition that is usually seen...
I picked a book out of my library today, written by a successful executive and former basketball player under John Wooden, the GOAT of college basketball coaches. He quoted some of Wooden’s favorite trade secret phrases – he apparently had dozens of them. I think some...
Readers of their company’s monthly financial reports typically see an income statement comparing the most recent month’s activity with the same month a year ago, the immediate prior month, or – for the truly enlightened managers – a budget for the month. All sounds...
Disrespectful or just a catchy title? Either way it must be true, because so few small and mid-sized companies do it. Why would anyone who wants to build a successful company avoid doing something that might help them succeed? Well there are a lot of very solid...
If your revenue was impacted by COVID-19 and its ripple effect – and who wasn’t – you know it’s not going away anytime soon. How do you avoid a 2021 that looks too much like 2020 on your income statement? Maybe you can get better control of your costs – at least those...
As we approach the last day of this most challenging year, my traditional HNY greeting has more meaning than perhaps at any time in most readers’ lives. So no education today, no hidden insights into financial potholes to avoid or nuggets to grab onto. Simply this: I...
