Danny's Articles & Media
The Top Five Reasons A Business May Fail
There are a number of reasons why a business fails. Below are what I consider to be the Top Five. Ignoring Your Current Customers. I was once with a large company that continually spent their energy and time on internal issues and the politics that accompany the in house fighting. They literally ignored their current customers…
Read More >Every Business Should Read This Book
In 2009 Ram Charan wrote a book entitled, Leadership In The Era Of Economic Uncertainty. Charan wrote this book right after the financial crisis had begun in 2008 as a guide on providing advice on managing during an economic downturn. While the points of emphasis Charan explained were particularly applicable in a financial crisis, I…
Read More >A CFO’s Advice for Managing Personal Finance
I suppose that one very good definition of a Chief Financial Officer would be that they are the custodian of a company’s finance. A custodian is ” one that guards and protects or maintains.” It has been my conviction that a CFO can only be effective if he has been and is a proper custodian of his own…
Read More >Why do you need a CFO?
Our firm believes that every company, regardless of its size, needs a CFO. Below are three major reasons why a Chief Financial Officer is an indispensable part of the management team. Objectivity– This is perhaps the most valuable reason every company needs a CFO. A CEO needs clear, objective, advice especially when it comes to…
Read More >Inventory Management Critical To Success
Proper inventory management is absolutely vital for companies in a number of industries both large and small. Inventory management is critical because the ultimate goal of successful inventory management is to minimize the inventory level while at the same time meeting customer expectations. When done properly the following results are achieved: Increased cash Profit improvement…
Read More >What Does It Take To Win?
I love to play and watch the sport of tennis. Tennis is both a physically and mentally demanding game, particularly singles tennis. It has been compared to boxing without actually hitting someone. There are many factors that come in to play in order to win a tennis match. Recently in Tennis magazine, long time coach Nick Bollettieri…
Read More >Give Cash The Attention It Deserves
Cash is the lifeblood of a business. By this I simply mean, no cash, no business. That being said, a constant and relentless focus on cash is never a waste of time. Any area of business that directly affects cash must receive intense attention. Focus on the following three areas for a stronger cash position. Accounts Receivable–…
Read More >Lessons Learned From Ronnie Milsap
Ronnie Milsap has always been one of my favorite country artists. I started listening to his music as a college student in the 70’s and it continued after I married. My two daughters grew up hearing his music on a regular basis. In the early 80’s my wife and I were able to take our young…
Read More >What Are You Doing To Get Better?
Pat Riley was one of the greatest NBA coaches of all time. He was head coach of five championship teams, most of them with the Los Angeles Lakers. In his book, THE WINNER WITHIN, Riley recounts how his 1985-86 Lakers had succumbed to complacency. He was determined that his 86-87 Laker team would get better and he implemented…
Read More >Review and Analyze the Game Film
Have you ever wondered why coaches of many sports spend countless hours in reviewing video replays of their teams and players performances? These reviews obviously have a great deal to do with their team’s success otherwise it would be a tremendous waste of time and energy. I believe there are three basic reasons why tapes are reviewed. The CEO of a business should…
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