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How to Develop Your Greatest Asset
So many factors go into making a company successful, but few are more important than developing the right talent internally. It’s interesting that this factor is often overlooked — or at a minimum — underappreciated. Even if you have a team of seasoned leaders, there are significant benefits to continually training, coaching, motivating, and mentoring employees who can be the…Read More -
Is Your Business Prepared With A Turnaround Strategy?
To prepare for the worst, every business owner should outline a general business turnaround strategy. It should begin with a keen awareness of warning signs such as poor key performance indicators and a rapid increase in debt and employee turnover. The turnaround will likely involve five steps: 1) assessment of the decline by external advisors, 2) re-evaluation of management and…Read More -
M&A Deal is Done, Now What? Time to Integrate the Sales Force
So, you’ve closed on an M&A deal and you’re going to make this new asset part of your existing organization. Diligence revealed that this addition to your business will support your strategic goals and the integrated company will produce value beyond the acquisition cost. Now what? Presumably you’ve read the abundance of literature reporting M&A failure rates between 70% and…Read More -
Financial Statements Tell Your Business’ Story, Inside and Out
As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial statements are a necessity. Typical components are an income statement, a balance sheet, and a cash flow statement. Also frequently included: a retained earnings/equity statement and a notes section. Financial statements…Read More -
3 Ways to Be a Better Community Partner
Many business leaders I speak with want their organizations to become more civic minded. We also know that engaging employees in the process can be a be win-win for everyone; I discussed this in my article “Magic 8 Ball Says YES To Volunteerism and Employee Engagement.” If your business longs to get more involved in the community, here are…Read More -
How to Select a CPA
Smart business owners know that a good CPA is a valued business partnership. Very often we are asked “How do I select a CPA?” The basic answer comes in three steps. 1) Define your company’s requirements for a CPA firm. 2) Interview and conduct due diligence on several firms. 3) Combine the results of your due diligence with your gut…Read More -
Are your Employees Ignoring their 401(k)s?
For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it. It’s in your best interest as a business owner to buck this trend. Keeping your…Read More -
Your Strategic Plans Aren’t Strategic, Or Even Plans
I recently read an article in Harvard Business Review by Graham Kenny entitled, “Your Strategic Plans Probably Aren’t Strategic, or Even Plans.” While not a new article or concept, the content is to the point and something all management teams should read, understand and embrace. It even struck close to home as my own organization tends to call our annual…Read More -
Is Your Sales Process Weakening Your Bottom Line?
Every once in a while, I run across a sales expert I really like and make a point to follow. For me, that’s Mark Cranney . Mark Cranney has built enormous revenue streams for Opsware, Inc. (which was acquired by HP), Hewlett-Packard, and hundreds of portfolio companies for VC firm Andreesen Horowitz. He knows a thing or two about building a…Read More -
Why Is Fahrenheit a Great Place to Work? Employee Tells All
When people ask me if I like my job it’s very easy to say yes! I am fortunate enough to work for a company full of smart, fun and generous people. While we know it internally, it’s always nice to be recognized by programs like the “Best Places to Work in Virginia” program administered by the Best Companies Group. This…Read More -
We’ve Got An Updated Story To Tell
After so many years in business, it's time for some reflection. "It's incredible to think that we are in year ten already at Fahrenheit," says Co-Founder Rich Reinecke. “After helping hundreds of clients achieve their goals, we’ve taken a step back to reflect and evaluate our position in the market based on our evolving business model — something we…Read More