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How to Make the Most of Your Multigenerational Workforce
Many of today’s businesses employ workers from across the generational spectrum. Employees may range from Baby Boomers to members of Generation X to Millennials to the newest group, Generation Z.
Managing a workforce with a wide age range requires flexibility and skill. If you’re successful, you’ll likely see higher employee morale, stronger productivity and a more positive work environment for…Read More -
Acquiring a Business? Ask Yourself These Questions First
Completing a business acquisition can be very exciting and rewarding. Set yourself up for long-term success by hiring financial, legal and business advisors to walk you through the process. Here are three key questions to ask yourself in the preliminary stages of an acquisition and then several other items to consider as you move into due diligence.
Before considering the…Read More -
4 Creative Ways to Attract Millennials and the Newest Generation
The once private matter of how students are funding their education, has become one of the most talked about, and debated, topics of the past five years. We have all become painfully familiar with the facts; there is currently and estimated $1.6 T in outstanding student loans, with about 11% of borrowers already in default of their loans – compared…Read More -
3 Best Practices for Achieving Organic Sales Growth
Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition.
That’s not to say a merger or acquisition is necessarily a bad idea, but you can’t rely on major…Read More -
6 Business Trends CFOs Should Follow in 2020
To remain competitive, it is imperative to consider key trends in the market. As finance leaders, you must stay up to date on marketplace trends in not only finance and accounting, but also across the entire business. As you head into 2020, consider the following trends, their potential impact to your business, and how you may work across the organization…Read More -
Cost Management: A Budget’s Best Friend
If your company comes up over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward. As part of this effort, you’ll answer questions such as: Cost management can help you clearly differentiate activities…Read More -
5 Ways to Strengthen Your Business for the New Year
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both: 1. Compare 2019 Financial Performance to Budget…Read More -
Editor’s Pick: Top 8 Fahrenheit Advisors Posts of 2019
During the first few days of the year, it seems only natural to reflect on the past year. When we look back we can’t help but feel blessed by what we see, and we are extremely excited for what is to come for 2020. Most importantly, we’re looking forward to sharing what we know in person and within the Insights…Read More -
What Makes for a Good Nonprofit Strategic Plan?
A recent Wall Street Journal opinion column by Auburn University at Montgomery professor Wyatt Wells opines that strategic plans are a waste of time. You can read that column by clicking here. It would be easy to discount Wells’ diatribe since he is “only” a history professor. And yet, he makes some salient points. From his perspective strategic plans are…Read More -
3 Key Traits of Every Successful Salesperson
Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20% of salespeople will make 80% of sales; in other words, everyone’s not going to be a superstar. However, you can create performance management standards that raise the…Read More -
Bridging the Gap Between Budgeting and Risk Management
At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or more of these dangers materialize. Below are some common types of risks to research, assess and incorporate into adjustments to next year’s budget. Competitive. No business is an…Read More -
Are You the Strategic Thinker You Want To Be?
As more organizations emphasize the importance of strategic thinking among all of their leaders, the desire to develop this skill is voiced with increasing frequency by individuals seeking coaching. One helpful article I recently read focused on the topic. How To Master Strategic Thinking Skills In 5 Simple Steps provides a simple and quick way for coaches to think about…Read More