by Patty Lawrence | Financial Processes
Capital planning addresses the resources (including money and people) needed to support and grow your business over the planning horizon of your strategic plan. The capital planning process can also help you avoid problems down the line, like not having the resources...
by Patty Lawrence | Business Management, Financial Analysis, Financial Processes, Leadership, Uncategorized
That’s why I always say trust…and verify. Trust and verification go together. When we automatically trust someone due to their profession or degree, we can get in trouble and give our trust when it hasn’t been earned. Trust is the foundation of relationships that...
by Patty Lawrence | Budget & Forecasting, Business Management, Financial Analysis, Financial Processes, Profitability, Uncategorized
Your banker is your friend. But a lot of entrepreneurs don’t think that. They think the bank is their enemy, and they need to bribe their enemy or do something to gain their favor so they’ll work for them. Recently, I was teaching an audience of small and mid-sized...
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 | Budget & Forecasting, Cash Flow, Financial Analysis, Financial Processes, Growth, Uncategorized
We’re still experiencing some lean times right now, there’s no doubt about that. As the economy continues to fluctuate and there remains some uncertainty about when, if and how things will reopen, most of us are looking at ways to get our businesses through the rest...
