You Can Only Tread Water For So Long!

You Can Only Tread Water For So Long!

Most people when faced with treading water realize that at some point to get somewhere they either have to start swimming or drown. You only have so much energy to stay where you are. The same thing holds true for businesses!

You Can Only Tread Water For So Long!

A business can maintain the status quo for a period of time. At some point, however, they must start growing or the competition will surpass them. In this recession the goal for most companies has been just to survive. We have seen revenue for most companies settle in at a 30% reduction from a year ago. Cash flow has stabilized at a lower level and companies are not bleeding like they were.
Now is the time for companies to start swimming! You should be improving your sales efforts and products while you have the time to invest. When the economy picks up you won’t have the time to improve your company’s or your own skills. Over the past 2 months we have noticed an uptick in business sentiment. Companies are now starting to realize that the world is not coming to an end.
With that thought in mind they are starting to make inquiries for services to help them through these tough economic times. Are you ready for them? Have you been honing your staff’s skills and increasing the level of training of your staff? Are new skills and products being developed? Finally, are you increasing your marketing efforts before the competition?
By investing your down time into your people and systems you can come out of the recession in a stronger marketing and financial position than the one you went in with. Now is the time to start swimming!
To learn more financial leadership skills, download the free 7 Habits of Highly Effective CFOs.
treading water

[box]Strategic CFO Lab Member Extra
Access your Flash Report Execution Plan in SCFO Lab. The step-by-step plan to manage your company before your financial statements are prepared.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]

treading water

ARTICLES YOU MIGHT LIKE

The Struggles of Private Company Accounting

Hiring the right accountant  When I meet a business owner operating at a successful $10 million in revenue, they often mention, “My CPA”… I immediately know that CEO/Entrepreneur is referring to their Tax CPA.  That is because one thing that all Entrepreneurs have in common is that they must file a tax return.  So, from

Read More »

IN CRISIS? GET A STRATEGIC CFO! – CEO Blindspots Podcast

Friend of the firm, Birgit Kamps, recently had Strategic CFO President, Dan Corredor, as a guest on her podcast, CEO Blindspots. CEO BLINDSPOTS HOST: Birgit Kamps. She was speaking five languages by the age of 10, and lived in five countries with her Dutch parents prior to becoming an American citizen. Birgit’s professional experience includes starting

Read More »

SHRM calls ICHRA the 401K for Group Health Benefits

Fed-up with group health insurance? ICHRA is the new way to offer great health benefits and avoid ACA penalties, SHRM calls it the 401K for group health benefits.  In 2020 the Department of Labor, HHS and IRS changed the rules for employer health benefits. They changed the Affordable Care Act mandates and penalties for every

Read More »

JOIN OUR NEXT SERIES

Financial Leadership Workshop

MARCH 28TH-31ST 2022

SHARE THIS ARTICLE

JOIN THE NEXT STRATEGIC CFO™ SERIES

Strategic CFO™ Financial Leadership Workshop
The Art of the CFO®

Days
Hours
Min
Sec

September 12-15th 2022