Tag Archives | technology

Business Driver Example

See Also:
Business Drivers
Planning Your Exit Strategy
Selling Your Business to a Private Equity Group
Leadership Action Plan

Business Driver Example

Look at the following business driver example. Dan is the owner of a startup web development firm. He has done his initial research, written a business plan, and is prepared for the operations of his business. Now, Dan needs to understand the business drivers of software development. Understanding the business drivers can give an owner a better overall understanding of their company. In other words, the more knowledgeable an owner is about the inner workings of his/her company, the more successful his company has the capability to be.

To do this, Dan begins by finding all the reading materials he can. He studies technologies, operations, human resources, and most importantly marketing and sales. Dan is attempting to discover the business drivers for enterprise architecture. He is on the path to achieving this goal.

Meet With Experts

Next, Dan attempts to meet experts in the industry. He starts with those who are close to him: family, friends, and college acquaintances. Then, he begins to find and attend networking events related to his industry. In these places Dan will flush out those who truly know about the business drivers in software development.

Dan has found information as well as experts in both operations and marketing. Now, Dan must find experts in financing his firm. He attends banker’s organizations, venture capital networking events, and his local angel investors conference. Dan, due to the assets he holds, has settled on a bank loan as his method of financing.

Conclusion

In conclusion of this business driver example, Dan’s future seems bright as he paves the way for his success. By constantly studying the business drivers, software development success is only a matter of time. He prepares for the future, resolves to save cash as best he can, and aligns his thoughts for his future.

If you want to find out more about how you could utilize your unit economics to add more value to your organization, then click here to download the Know Your Economics Worksheet.

business driver example

Strategic CFO Lab Member Extra

Access your Projections Execution Plan in SCFO Lab. The step-by-step plan to get ahead of your cash flow.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs


business driver example

Share this:
2

UP Experience in Houston 2012

Laura Koch and Barbara Corcoran

Laura and I attended the UP Experience in Houston 2012 last week.  For the past several years, a friend of mine had encouraged me to go.  I finally decided to take his advice and sign up and I’m glad I did!

Check out this photo from the event of Laura with Barbara Corcoran from ABC’s Shark Tank…

UP Experience in Houston 2012

Over the course of the day, there were over sixteen speakers who were leaders in their field. We heard topics from new battery technology to gaming theory. One of the most inspiring speakers was Marcus Luttrell, the author of Lone Survivor. Out of the day I came away with a few trends and ideas.

  • The key to living longer is to seek out new experiences and novelty.
  • The 80+ age group is the fastest growing demographic group.
  • Key to avoiding Alzheimer disease is to eat fish and lower your blood pressure.
  • Marcus Luttrell: “See what you will become not what you are!”, “Have a Never Quit Attitude no matter how many times you fail!”
  • Barbara Corcoran: “Be great at failure; Perception creates reality; There are two kinds of people, expanders and containers; Fun is good for business; Fun is the birthplace of creativity.”
  • Gary Vaynerchuk: “The goal of social media is to develop an online relationship with your customer; Information and data are becoming a commodity; Give away intellectual property to open up opportunities.”
  • Tony Danza: “For education to be effective students have to be convinced to take ownership of their education.”

The most important benefit of the day was getting away from the office and sharing ideas with the other attendees. I definitely plan to attend the UP Experience in Houston 2013. I hope you will too!

To learn more financial leadership skills, download the free 7 Habits of Highly Effective CFOs.

UP Experience

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

UP Experience

Share this:
3

The Future of the Accounting Workforce

The Future of the Accounting Workforce

“Firms who are hiring new accountants or accounting majors have to understand where the newer generations are “coming from,” as a Boomer (born 1946-1964) might say, to target a style that will bring out the next generation’s (the Millennial Generation’s) strengths and maximize their effectiveness. This involves discarding biases and pre-conceived notions, and enjoying our generational differences—and similarities!

Millennial workers grew up in a technology-driven world. As a result, the way we do business has changed dramatically over the last 2-3 decades. As a result, they often operate under different perspectives than older workers do. Companies across North America that recognize that the differentiator is their people will emerge as winners in the battle for talent. They’ll design specific techniques for recruiting, managing, motivating, and retaining them.

A notable demographic shift will begin to occur in 2011 when the oldest Baby Boomers (b. 1946) hit the United States’ legal retirement age of 65. As Boomers begin retiring, members of Generation X will take roles in middle and upper management. Millennials will take positions in the workforce. This process has already begun since some members of Millennials in their late 20s.

Other scenarios that will become commonplace will include

  • Experienced Boomers reporting to Millennials
  • Members of all three generations working side-by-side on teams
  • Millennials calling on Gen X clients

And, all this is going to happen while three generations continue the process of finding a way to get along in an uncertain workplace.

This is made all the more interesting given the gap between these two generations: Gen Xers complain that the Millennials are indulged, self-absorbed and overly optimistic, while Millennials charge that Gen Xers are cynical, aloof and don’t appreciate fresh ideas and idealism….”

More at WikiCFO.com

future of accounting workforce

Share this:
0

Cloud Computing: Advantages and Disadvantages

We currently run on a Windows NT server using Remote Terminal Services. It has worked like a charm and is instrumental in our daily operations. Unfortunately, it is coming to the end of it’s useful life. Our outsourced IT department has informed us that we should replace the system during the year. They are recommending that we go to their cloud computing system. We’re not sure.

Cloud Computing: Advantages and Disadvantages

Cloud computing seems all the rage right now. We have had our own local cloud computing system for the past six years. Now they are asking us to consider going to a “regional” cloud system. Google would like us to consider their “national” cloud system. I’m not sure I want our financial information floating around. Furthermore, what do we do if they go out of business or mess up our information. (Think ATT sidekick!).

The cloud computing advantages as I see them are: access from anywhere, secure backup, redundant systems in the event of national disasters, and limited upfront investment. The disadvantages of cloud computer are: control, security, and control. (Did I mention control?)

We have a client that is using a national cloud computing accounting system. The annual fee came up for renewal and the company demanded immediate payment. They would not finance the system like they had in the past. Our client was stuck. Also, the bill came due December 15. Not a good cutoff date.

As information has become more valuable and instrumental in our ability to service our clients I am not comfortable in outsourcing our servers. What are your thoughts? I would like to hear from anyone who has had any experience with cloud computing.

Download your free External Analysis whitepaper that guides you through overcoming obstacles and preparing how your company is going to react to external factors.

cloud computing

Strategic CFO Lab Member Extra

Access your Projections Execution Plan in SCFO Lab. The step-by-step plan to get ahead of your cash flow.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs

cloud computing

Share this:
3

The Changing Business Cycle

How is the Internet affecting the changing business cycle? Thirty years ago information moved much slower than today! People communicated primarily via “snail mail”, telephone or face to face. In addition, information was obtained from the newspapers or magazines.

The Changing Business Cycle

The Internet is changing all of that. Today you have email, instant messenger, Twitter and LinkedIn. If you are like me, then you are getting your newspaper online and reading blogs for the latest trends. Now trends and ideas ripple through the economy or business community in days and weeks, not years!

Whereas, before if you had a business idea or strategy you had about three years before serious competition appeared. Now you are lucky to have six months head start before someone else adopts your ideas.

Consequently, the rapid exchange of information has resulted in violent shocks to the economy. These shocks are fast and the swings are extreme!

Download your free External Analysis whitepaper that guides you through overcoming obstacles and preparing how your company is going to react to external factors.

changing business cycle

Strategic CFO Lab Member Extra

Access your Projections Execution Plan in SCFO Lab. The step-by-step plan to get ahead of your cash flow.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs


changing business cycle

Share this:
0

The Next 100 Years: Forecasting the 21st Century

I just read a thought provoking book about forecasting the 21st century. It is titled, The Next 100 Years: A forecast of the 21st Century, by George Friedman. Friedman is the CEO of Stratfor a private intelligence and forecasting company located in Austin, Texas. Barron’s has labeled Stratfor the “Shadow CIA”. They have a web site and paid subscription news blog that post several times a day events happening around the world. I have been a subscriber for several years now and read more insight into what is happening in the world than what you get out of the best newspapers.

The Next 100 Years: Forecasting the 21st Century

Mr. Friedman has written a scenario of how the world might look over the next century. It is a very good book and will help you put things into perspective from a geopolitical basis. The major take aways for me are as follows:

First, a lot of the major issues in the news today will become background noise over the next 100 years. For example, the jihadist movement and Afghanistan.

Second, there will be a population bust in the developed countries. As a country transforms into a manufacturing and technology economy from an agrarian one, the birth rate declines. The world needs 2.1 births per woman for a stable population. Per the United Nations in 1970 there were 4.5 children born worldwide. In 2000 the number was 2.7 children born worldwide. In 2050 it is projected that there will be 2.05 children born worldwide. Less than the 2.1 births required to maintain the worlds population. For the U.S. this means that immigration will take up the slack in the low birth rates.

Third, space based weapons will be the next big thing. And finally, Mexico will be a major global power and will go to war with the United States.

All these scenarios and a few more get you to thinking about how important are the issues of the day when looked through a longer lens. He may not be right, but, he can’t be all wrong!

Learn how you can be the best wingman with our free How to be a Wingman guide!

Forecasting the 21st century

Strategic CFO Lab Member Extra

Access your Projections Execution Plan in SCFO Lab. The step-by-step plan to get ahead of your cash flow.

Click here to access your Execution Plan. Not a Lab Member?

Click here to learn more about SCFO Labs

Forecasting the 21st century

Share this:
0

LEARN THE ART OF THE CFO