by Patty Lawrence | Business Management, Cash Flow, Financial Analysis, Knowledge, Risk Mitigation, Uncategorized
“The thief, as will become apparent, was a special type of thief. This thief was an artist of theft. Other thieves merely stole everything that was not nailed down, but this thief stole the nails as well.” ― Terry Pratchett To a lot of business owners, theft seems...
by Patty Lawrence | Business Management, Financial Analysis, Risk Mitigation, Uncategorized
According to a 2016 study by Hiscox, 80% of embezzlement and fraud occur in small businesses – which they define as fewer than 150 employees, for reference. 30% of these fraud cases involved a loss greater than $500,000. A 2018 update of that same survey found...
by Patty Lawrence | Accounting Services, Business Management, Cash Flow, Employee Management, Financial Analysis, Uncategorized
Are you cool with hiring people who simply don’t know how to do their jobs? Of course, I can’t speak for everyone, but I’m assuming most of us would say….no. No, we want employees and contractors and any professional we trust with the functions in...
by Patty Lawrence | Budget & Forecasting, Business Management, Cash Flow, Financial Analysis, Financial Processes, Knowledge, Uncategorized
Not every business starts out with a pristine financial management department. Likewise, most mid-size businesses can’t afford to hire one person for every tiny task related to finance. But you still need the kind of financial help a seasoned pro brings with them. Too...
by Patty Lawrence | Budget & Forecasting, Cash Flow, Financial Analysis, Financial Processes, Knowledge, Uncategorized
First of all, this is in response to questions I frequently receive from people – and especially business owners: “Hey, Patty, how do I know which financial professional I need? Do I hire a bookkeeper versus an accountant versus a controller versus a CFO? And do...
by Patty Lawrence | Business Management, Cash Flow, Financial Analysis, Knowledge, Uncategorized
As we have continued to discuss how you will write your business’ comeback story as the economy bounces back from the COVID-19 pandemic, we’ve touched on figuring out where you are financially and the measures you can take to cut back on spending and give...
