Danny's Articles & Media
Five Reasons Why Companies Fail
An article in the Houston Chronicle (http://smallbusiness.chron.com/businesses-high-failure-rates-61640.html) stated that, “according to the U.S. Small Business Administration, 70 percent of new businesses survive at least two years, but that drops to 50 percent by the five-year mark and 33 percent at the 10-year point, with just 25 percent lasting 15 years or more.” There are a…
Read More >Profits, but No Cash!
On more than one occasion I have had a business owner meeting me for an initial engagement explaining to me one of their major concerns described usually as follows: “I simply do not understand what is going on. My company consistently maintains good profit margins; however, I struggle with having adequate cash balances and maintaining…
Read More >Do you have a Farm System?
The major league baseball season is well underway as I write this article. As always, it is a long season and it will be interesting to see who remains at the top of their respective divisions when the regular season ends in the fall. Most likely, those teams at the top will be made up…
Read More >The Importance of an Exit Strategy Now
I just returned from our annual partner’s conference in Anaheim, CA. As stated in my previous article, we spent much of our time on exit strategies for business owners. Developing an exit strategy is important at any stage of a business but especially so for those who want to exit in the next few years. …
Read More >Strategy
In just a few days I will be attending our firm’s annual conference in Anaheim, California. We will be focusing much of our attention on Exit Strategies, and what we can do to help our clients develop solid strategies that help them to exit their companies successfully, on their terms, and achieving their goals. According…
Read More >Have you Reviewed Your Financial Statements?
Several weeks ago, I was meeting with one of my clients with the first item of priority being a review of their most recent financial statements. Prior to the meeting the owner had actually contacted me with a concern that cash seemed to be too low considering the recent business level. Prior to meeting with…
Read More >Three Traits of a Great Leader
One of the exciting times of the year in sports is the opening day of baseball. This year opening day is March 31st as the Texas Rangers travel to Houston to take on the Houston Astros. A full slate kicks in on April 1st and the Tampa Bay Rays open on April 2nd with manager…
Read More >Competition
According to Merriam-Webster’s on-line dictionary, competition is the art of competing which is “to strive consciously or unconsciously for an objective (as position, profit, or a price).” I am thankful that we live in a country with the freedom to compete because there is great value in competition, for both individuals and organizations. Three benefits…
Read More >Changing Plans
As a CFO I am all about plans, projections, budgets, and forecasts. The most successful companies meticulously strategize, put their strategy into place, and determine what action steps are necessary to achieve their plans. A time may come, however, when plans must be changed in order to assure success or sometimes even survival. In 1997,…
Read More >How to Treat People
A business is only as good as its people. Business owners, in order to meet their company goals, must have people that are highly skilled, customer focused, loyal, and motivated. Fortunate indeed is the company owner who has these types of quality individuals on their team. The challenge then becomes keeping these people on the…
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