To all who made a well thought out plan for 2020: sorry about that, glad you’re still there. To all who despaired of any ability to create a plan for 2021, this blog’s for you. We have three big reasons for developing annual plans (for this article, think both...
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...
Why do companies automate? The answer is typically some combination of the following reasons: Better Results, i.e. to provide a better product or service Error reduction, especially reducing accidental human mistakes Scalable – Need to address an ever-increasing...
