The FiscalDoctor Is In - Best Practices for Long Term Business Health

What you don’t know about your business …..

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 14 Feb 2012 08:13:00 GMT

What if the cost of what you don’t know about your business, could be your business? Or your job, or the job of your friend? With all the latest economic turmoil, continuing questions about cooked Greek books and the economic risk to innocent people, questions about a lost decade, etc., how can you turn cod liver oil into a competitive advantage to excel and increase your lead over competitors?

A viewer suggested I bring back this evergreen discussion on What is the cost of what you don’t know about your business? Gary W. Patterson, author of the book, “Stick Out Your Balance Sheet and Cough,” helps you find the answer, and learn how to avoid the risks those things may bring, in this AIE Imaging Executive podcast.

Help reduce your blind spots with my interview podcast on What is the cost of what you don’t know about your business? Gary W. Patterson, author of book, “Stick Out Your Balance Sheet and Cough,” helps you find the answer, and learn how to avoid the risks those things may bring.

www.imagingexec.com/webpage/what-you-don-t-know-about-your-business

Consider listening with the intent of finding an opportunity to exploit you had forgotten about, a risk you really should address while there is still plenty of time, or some unique insight that was almost invisible.

The check's NOT in the Mail

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 07 Feb 2012 08:19:00 GMT

Interesting Forbes article: this study says slowest paying results in a decade, with comments for several sectors.

U.S. companies continued to guard their cash despite increasing sales in 2011, reflecting continued uncertainty in the economic recovery and slower paying customers.

Privately held businesses, which account for up to 70 percent of GDP and generate 80 percent of new jobs, stretched their average time for making payments to the highest level in a decade, according to an analysis of financial statements by Sageworks.

Private companies’ accounts payable had an average age of 26 days in 2011, more than three days higher than in 2010 and the highest age since at least 2002, data generated by Sageworks’ financial analysis software shows.

http://www.forbes.com/sites/sageworks/2012/01/06/private-companies-paying-later/

“What I’ve been told is companies are extending payments to their vendors because they’re getting stretched on the cash receipts from sales to their customers,” he said. “They can only pay bills as cash permits.”

“I think they’re really prioritizing who they pay, and a lot of time they pay whoever barks the loudest,” he said.

Some manufacturers are paying the oldest invoice first and letting the next one age before paying that one. Others have the cash but are pushing vendors to wait on payment anyway, in order to generate what little interest they can on their funds. Another factor for some companies may be that banks have tightened up on lines of credit, giving companies less flexibility to tap that resource for short-term cash needs, Cole added.

As you contemplate which aspects of this study you have seen, ask yourself an upside questions. Where is your King Cash locked in a dungeon and how can you break some of those chains?

Alan Weiss’s Society for Advancement of Consulting® (SAC) Re-certifies

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 31 Jan 2012 20:12:00 GMT

Gary W. Patterson for Outstanding Performance in Area of Expertise

Dec 14, 2011 – East Greenwich, RI – Society for Advancement of Consulting^® LLC (SAC) awarded Gary W. Patterson, Enterprise Risk Management (ERM) expert and speaker, an infrequently granted distinction of being re-certified for the fourth year as a “Board Approved” member in his specialty as Trusted Adviser for Growth Companies. Re-certification signifies that Patterson has the highest continuous record of professional performance over an extended period of time as measured by SAC. To this end, Patterson has adhered to the ethics pledge of the organization and has provided client proof attesting to exceptional performance in his area of consulting. SAC was founded by Alan Weiss (Ph.D.), a consultant whose unparalleled reputation has advanced the prestige and standing of the consulting industry.

Fewer than five percent of SAC members are granted Board Approval, which represents a distinguished membership of fewer than five percent of all practicing consultants nationwide. Board Approval is granted only after detailed client evidence is received and reviewed. SAC’s CEO Weiss comments, “We already have as our membership the most elite consultants practicing in the world. To achieve this still higher level of performance in addition to our entry requirements is quite impressive. Clients who hire Board Approved SAC members have the assurance that they are working with the ‘best of the best.’ ”

About Society for Advancement of Consulting^® LLC
SAC is an international association of distinguished consultants who meet the following criteria: validated proof of high performance in their areas of expertise; successful completion of client engagements; testimonials from client executives; high income over a prolonged period; minimum of 25 clients; and adherence to the highest code of professional ethics. SAC members interact as an international community to advance the profession and consulting techniques in compliance to a strict code of professional conduct. To learn more about SAC, go to www.consultingsociety.com. http: href?>
About">www.consultingsociety.com.

About Gary W. Patterson
Gary W. Patterson, president & CEO of FiscalDoctor^®, has been a consultant for more than 200 companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a renowned speaker on ORM, ERM, corporate governance, risk analysis, and leadership.

Patterson is the author of Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health (http://tinyurl.com/stickoutbalance) and the forthcoming book What the CEO Needs to Know and Doesn’t: The Why and How To Tell Your CEO”. For more information, visit www.fiscaldoctor.com. Patterson also offers a "free" fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 781-237-3637.

Board Members: What Assets on Your Books Lost Substantial Value?

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 24 Jan 2012 15:28:00 GMT

December 20, 2011 – Atlanta, GA What blind spot has occurred on your balance sheet or in your business asks Gary Patterson, FiscalDoctor®, ERM expert and speaker and author of the forthcoming 2012 book Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How To Tell Your CEO”.

Rightly or wrongly, too many organizations, their Board of Directors and executive leadership team only devote substantial additional efforts to identify financial and strategic blind spots around fiscal yearend audits. Consider

How rapidly moving changes like moving to the cloud mean assets on your books could now be substantially overstated. Even preliminary movements to the cloud mean the economic value of capitalized IT assets may now have less economic value
Where your people know asset values have softened and yet have not been willing to step forward to tell you.
Where your people know assets need reallocation to meet key results for next year and are afraid to be the bearer of bad news.

How comfortable are you that you would not have to say yes to one or more of these type issues?

Current asset values now may have a questionable economic value.
The company would be better off selling certain assets at a loss to free up cash for more promising opportunities.
Someone in your organization has painted an overly optimistic picture of the company to a customer, vendor, or financing source.

About Gary W. Patterson

For more information, visit his website at www.fiscaldoctor.com. Patterson also offers a "free" fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 678-319-4737.

Or consider, the FiscalDoctor’s Fiscal Fitness Service, which includes a thorough analysis and review of financials and systems to identify risks and opportunities, and promises “10 strategic recommendations that will provide a framework for better managing challenges inherent in growing your company.” Find your blind spots in time to make better business decisions.

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Jump Start Your Business with These 10 New Year’s Resolutions

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 17 Jan 2012 11:14:00 GMT

Atlanta – January 9, 2012 – Gary W. Patterson, FiscalDoctor® (www.fiscaldoctor.com), offers ten New Year’s resolutions to help companies uncover hidden risks, adopt a positive attitude in the new year, and pursue opportunities that may be lying dormant.

1. Review the three best opportunities you can pursue longer term, and create a game plan.

2. Examine the three top risk areas your business faces in the short and long term, and develop a contingency plan to keep Murphy’s Law at bay.

3. Evaluate the three most crucial infrastructure issues your company will face over the next couple years.

4. Examine your staffing levels and staff on a "green field" basis. Ask yourself the following questions: If you were starting a new company today, would you hire the same employees you have now? If you were to hire them, would you have them in the positions they are in today?

5. Learn which products are losing money, and either get rid of them or, at the very least, consider raising prices.

6. Determine the cost of the risks you don’t know, such as potential inventory mismanagement, hidden product or service quality problems, and inaccurate or unrealistic financial statements.

7. Ascertain your company’s ten top customers not only in revenue, but how much they are actually contributing to profits and the bottom line.

8. Evaluate and improve where needed the speed and quality of your cash flow and key metrics monitoring for a choppy, turbulent year ahead. For example, gauge how your company would be affected by unexpected developments such as declining profitability of your top customers.

9. Ask yourself whether your company is in a position to seize market opportunities. Those who focus on turning this economic downturn into golden opportunities will emerge winners.

10. Review your own performance over the past year and commit to working better and smarter in the coming year. What are your strengths and weaknesses? What areas are you willing to work on to improve your performance over the next year? Are you willing to seek help to uncover your blind spots?

About Gary W. Patterson

Gary W. Patterson, President & CEO of FiscalDoctor®, works with leaders who want to uncover their blind spots so that they can make better decisions.© He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management. His forthcoming 2012 book is titled Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How to Tell Your CEO.” FiscalDoctor® offers services from a financial/operational assessment identifying key issues for resolution to a comprehensive enterprise risk management (ERM) review for creating a roadmap to achieve corporate vision and goals.

For more information on the FiscalDoctor, visit his website at www.fiscaldoctor.com. Patterson also offers a "free" fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 678-319-4737.

Five Steps To Help You Turn Past Mistakes into Opportunities

gary@fiscalclinic.com (FiscalDoctor com) — Thu, 12 Jan 2012 11:23:00 GMT

Suggests Enterprise Risk Management (ERM) Expert and Speaker Gary W Patterson

January 9, 2012 – Atlanta, GA –“Why do so many c-level executives fail to learn from past mistakes?” asks Gary W. Patterson, FiscalDoctor® and author of the forthcoming 2012 book, Finding Your Million-Dollar Blind Spots©.

Underlying every failure is an opportunity to learn, grow, and succeed, proclaims Patterson. Yet, so many executives are quick to sweep their mistakes under the rug and go blindly and blithely into the future. True leaders are those who are willing to take off their blinders, admit their mistakes, and learn how to make better decisions moving forward. Below are five essential steps that can help you come to terms with your mistakes and position yourself for future success.

Step 1: Be honest and take responsibility for the mistake.

Step 2: Dissect your decision-making process and isolate the areas that may have factored into your making a poor decision.

Step 3: Review the situation (market conditions) surrounding your decision. Was the decision made in haste? Did you have all the information needed to make an informed decision? Did you do due diligence?

Step 4: Discuss the problem with others who may have been involved in the decision making. Analyze the role each person played in making the decision. Did you have the right people with the right expertise at the table?

Step 5: Review your own behavior and attitude. For example, do you feel the need to be right all the time? Do you discourage honest, open communication? Do you foster a group-think mentality? Are you willing to face your blind spots? Are you willing to change? Are you willing to seek help in learning how to make better decisions?

About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor^®, works with leaders who want to uncover their blind spots so that they can make better decisions.© He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management. His forthcoming 2012 book is titled Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How to Tell Your CEO.”

Building Products Executives: How to Find Your Million Dollar Blind Spots

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 10 Jan 2012 20:13:00 GMT

December 12, 2011 – Atlanta, Georgia – Enterprise risk management (ERM) expert Gary W. Patterson, FiscalDoctor®, will present a How to Find Your Million Dollar Blind Spots workshop as part of the 2012 Panel & Engineered Lumber International Conference & Expo (PELICE) March 1-2, 2012 at the Omni Hotel at CNN Center, Atlanta, GA, USA.

Lumber product and building product executives can learn a common sense, value-added approach to risk management that helps executives not only unearth key risk areas, but in the process, identify formerly invisible opportunities leading to growth and profitability.

The website with full information on the event, location, registration etc. is http://pelice-expo.com/about.

About PELICE

PELICE, which is held every other year, is hosted by Panel World magazine and Georgia Research Institute. It will also include more than 50 speakers addressing a range of topics and issues in the structural and non-structural wood products industries.

The third Panel & Engineered Lumber International Conference & Expo (PELICE) will be held March 1-2, 2012 at the Omni Hotel at CNN Center in Atlanta, Georgia. The location in the Grand Ballroom North is the same as the PELICE events in 2008 and 2010. PELICE is again sponsored by Panel World magazine and Georgia Research Institute. Once again, PELICE will be immediately preceded by the second Bioenergy Fuels & Products Conference & Expo, which for the first time will be held in the Grand Ballroom North.

About Gary W. Patterson

Gary W. Patterson, FiscalDoctor® is an internationally well-known expert and speaker on ORM, ERM, strategic planning, due diligence, business leadership, and risk analysis experienced in both the construction and building products industries. He is the author of the forthcoming 2012 book “Finding Your Million Dollar Blind Spots. For more information on the FiscalDoctor, visit his website at www.fiscaldoctor.com. Patterson also offers a "free" fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 781-237-3637.

Contact
Gary W. Patterson

781-237-3637

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How Does a 4th Quarter Flat Or Depressed Outlook Affect Your Strategic Planning?

gary@fiscalclinic.com (FiscalDoctor com) — Thu, 05 Jan 2012 13:37:00 GMT

The Business Roundtable’s fourth quarter CEO Economic Outlook Survey show a continuation of third quarter expectation trends for sales, capital spending and hiring, which were down from the first quarter. Two thirds of the group plan flat or lower hiring for next year.

“The findings of this survey reflect the continuation of a slow, uneven recovery characterized by ongoing economic uncertainty for American businesses,” said Jim McNerney, Chairman of Business Roundtable and Chairman, President and CEO of The Boeing Company.

To help you evaluate where the correspondents are coming from and how much to read into the survey, this is how they describe themselves. Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. BRT member companies comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. Our companies pay $163 billion in dividends to shareholders and generate an estimated $420 billion in sales for small and medium-sized businesses annually.

Details of this survey are available at

http://businessroundtable.org/news-center/business-roundtable-releases-fourth-quarter-2011-ceo-economic-outlook/

After considering which of their projections impact you, set aside some quiet time to think about your situation and organization.

Where is it hunkering down time to redeploy or conserve resources?

Where can you use your resources to create a low risk upside?

What aspects of a fortress balance sheet do you REALLY have?

What Opportunity Won’t Occur Unless You Address Blind Spots?

gary@fiscalclinic.com (FiscalDoctor com) — Mon, 02 Jan 2012 08:19:00 GMT

Asks Enterprise Risk Management (ERM) Expert and Speaker

December 28, 2011 – Atlanta, GA – “Too many strategies suffer from blue-sky syndrome as a result of executive blind spots,” warns Gary W. Patterson, FiscalDoctor® and author of the forthcoming 2012 book Finding Your Million Dollar Blind Spots©.

The reason why strategic planning sessions have become the laughing stock of corporate America in recent years is because too many executive teams refuse to roll up their sleeves and tackle the real issues and challenges they face. Instead, they put on blinders and craft strategies that are detached from the company’s bottom line performance and market conditions. For the most part, group-think mentality sets in and everyone goes along for the ride…usually heading in the wrong direction. Take the basic test below to see if your executive team suffers from blind spots.

Is your balance sheet based on facts and a rock solid analysis of your company’s performance over the past two years? Or, are you manipulating the numbers to make the company and the executive team look good?

Has your top down strategic plan and budget been tested with bottoms up verification?

Does your five-year strategic plan sound suspiciously familiar by years four and five? In other words, does your executive team plug in the same financial assumptions articulated in an older plan?

Do you praise and pat each other on the back for all your hard work, knowing in your heart of hearts that many serious problems have been swept under the rug, including some dead weight?

Do you leave the strategy meeting knowing full well that there are a few white elephants left in the room?

If you answered yes to any of these questions, you are undoubtedly suffering from blind spots.

About Gary W. Patterson

C-Level Executives: Strategy How to Improve Margins on Your Income Statement

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 27 Dec 2011 16:52:00 GMT

Enterprise Risk Management (ERM) expert and speaker Gary W. Patterson, president and CEO of FiscalDoctor®, asks: Have you ever observed that it seems that every five to ten years something traumatic happens in the economy or your industry? Just as bad is the situation that happens when your business gets a little complacent or myopic by offering too many products whose profit margins have narrowed over time. When this happens, a company may find itself in a double bind because it lacks the cash flow to develop new products that have high margins. There’s the rub: Without cash and strong bottom line profits, a company lacks the financial resources to put new products into your pipeline.

This download also discusses income statement critical areas that you should examine more closely to help you gain insight into your income statement. And stories.

More details are included in Understanding Income Statements with The Fiscal Doctor which is also Part 2 part of his audiobook Fiscal Fitness System series audio. The Fiscal Fitness System: Understanding Balance Sheets, Income Statements, and Cash Flow (Made for Success Collection) http://t.co/VJHjdfk

Or consider, the FiscalDoctor’s Fiscal Fitness Service, which includes a thorough analysis and review of financials and systems to identify risks and opportunities, and promises “you will receive 10 strategic recommendations that will provide a framework for the challenges inherent in growing your company.” Find the lack of information creating your million dollar blind spots in time to make better business decisions.

About Gary W. Patterson
Gary W. Patterson, president & CEO of FiscalDoctor^®, works with leaders who want to uncover blind spots so that they can make better decisions. He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management. His forthcoming 2012 book is titled Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How To Tell Your CEO”.

How Does September 2011 Report Asking About Storms Ahead Apply To You?

gary@fiscalclinic.com (FiscalDoctor com) — Thu, 22 Dec 2011 08:12:00 GMT

RONIN’s website says they are a global market intelligence provider, providing the research insight that enables clients to achieve their business goals requires a team which acts together synchronizing its various skills and expertise to provide a seamless result just as rowers “pull together” to synchronize their actions and win the race. Their recent survey appears to apply to a number of areas outside of IT.

http://www.ronin.com/webinar/webinar7/RONINPulseReportWebinarWave7.html

I saw three key points, which seem applicable to business ranging from low tech to service to high tech.

Move to buyers moving into strategics and short termers groups.

Vendor loyalty has waned

More orientation to the numbers and economic justification.

These three issues sound simple and logical until you think about how to use it for your particular situation at this unique time and your specific business model horizon. To make something actionable and put some money in your pocket (after all, I am the FiscalDoctor, so that is part of the value people say you receive from me), consider the question below.

If you are in IT or your business is impacted significantly by IT trends, how will this information help you steer your business between accelerating for opportunities and hunkering down on the risky economic curves you anticipate?

What three points do you see as applicable to your business?

Avoid Lack of Financial Information and Financial Blind Spots

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 20 Dec 2011 11:24:00 GMT

Your Balance Sheet Information Is Key to Survival Says ERM Expert

November 28, 2011 – Atlanta, GA – Steven Pomeranz CFP Pomeranz Financial Management, Inc interviewed Gary W. Patterson, ERM expert and speaker and author of “Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health.”

The discussions included a range of topics ranging from lack of financial resources, particularly cash management, balance sheet issues, the MF Global breaking bankruptcy and why it seems the world never seems to learn. Hence the phrase back to the basics continues to be appropriate.

The discussion included the following takeaways.

Does your cash management process include a minimum of 6 months visibility on cash? Cash is Emperor now and always will at least be king.
How long does it take to provide crucial financial statements to your staff and executives? If it takes 15 to 45 days, there may be problems lurking. Useable future not outdated historical is not what is needed to run your business/ job search etc.
Do you have a business level one page flash report tracking the 3 to 5 key factors to run your business? – sales backlog etc.

The entire interview is available at http://www.onthemoneyradio.org/guests/uploads/762.mp3

About Steven Pomeranz
Since 1981, Steve has helped educate and counsel investors with truthful answers to help people make informed money decisions. Steve Pomeranz is considered "The Investor`s Advocate" and is host of the popular financial radio show, “On The Money”.

For more details on the program and interviewer, visit www.onthemoneyradio.org or www.slpomeranz.com

About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor^®, works with leaders who want to uncover blind spots so that they can make better decisions. He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management. His forthcoming 2012 book is titled Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How To Tell Your CEO”.

Or consider, the FiscalDoctor’s Fiscal Fitness Service, which includes a thorough analysis and review of financials and systems to identify risks and opportunities, and promises “you will receive 10 strategic recommendations that will provide a framework for the challenges inherent in growing your company.” Find the lack of information creating your million dollar blind spots in time to make better business decisions.

Up To The Minute Lessons For Today’s Turbulent Economy

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 13 Dec 2011 12:21:00 GMT

From "Stick Out Your Balance Sheet & Cough"

Trust you will enjoy this interview from being a guest on “On The Money!” with Steve Pomeranz. Steve interviewed me on a range of topics ranging from lack of financial resources, particularly cash management, balance sheet issues, the MF Global breaking bankruptcy and why it seems the world never seems to learn. Hence the phrase back to the basics continues to be appropriate.

The discussion included the following takeaways.

Do you have a minimum of 6 months visibility on cash? Cash is Emperor now and always will at least be king.
How long does it take to get financial statements out in your business? If it takes 15 to 45 days, there may be problems lurking. Historical not what is needed to run your business/ job search etc.
Do you have a company level one page flash report tracking the 3 to 5 key factors to run your business? – sales backlog etc.

You can either download from the link below or the show’s website.

On the Money Interview Gary W Patterson

http://www.onthemoneyradio.org/guests/uploads/762.mp3

About Steven Pomeranz

Since 1981, I`ve helped educate and counsel investors like you with truthful answers so they can make informed money decisions. Steve Pomeranz "The Investor`s Advocate" and host of financial radio show http://www.slpomeranz.com/new/pandw/

For more details on the program and interviewer, visit www.onthemoneyradio.org.

CEO Confidence Index update – Optimism With a Caveat

gary@fiscalclinic.com (FiscalDoctor com) — Thu, 08 Dec 2011 11:47:00 GMT

A summary of the good news and the bad news, quoting from the October survey from Chief Executive Magazine.

Confidence jumped 7.1 percent to 5.23 out of a possible 10, bringing confidence back to levels seen this summer. Though overall confidence has dropped 18 percent since the Index’s 2011 high of 6.39 in February, November’s jump seemed to be an indication that conditions are starting to recover.

Here are three things that happened in October that helped boost CEO confidence:

Financial markets surged
An agreement was made on euro-zone debt crisis
Corporations saw solid Q3 earnings

Projections for key business metrics also saw a boost. Over 69 percent of CEOs expect to see increased revenues over the next year, a 15 percent increase from October.

These numbers and comments, however, were compiled between November 1 and November 4. Since then, there have been political and economic developments that could potentially push confidence back down:

Italy may be poised to be the next Greece
U.S. added fewer jobs than expected in October
Oil prices are up more than 20 percent in 5 weeks

http://chiefexecutive.net/3-reasons-why-ceo-confidence-surged-in-november-and-3-reasons-why-it-wont-stay-that-way?utm_source=Chief+Executive+Group+List&utm_campaign=13aafee9cd-CEO_Confidence_Survey&utm_medium=email

Consider reviewing the full survey with graphs and more detail comments to enjoy the positive aspects tempered with the some valid concerns. Then go one level deeper to adapt for your business and keep one hand on the steering wheel and one hand ready to downshift for turbulence along the way.

Middle Market C level Executives: Finding Your Million Dollar Blind Spots

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 06 Dec 2011 09:07:00 GMT

Enterprise Risk Management Expert Gary W. Patterson Raises the Question, “Why Do Executives Choose to Ignore the Risks and Major Issues Facing Their Companies?”

Gary Patterson, president & CEO of FiscalDoctor® and operations risk management (ORM) expert and speaker unearths some shocking answers to a compelling question: “Why are executives ignoring major risks or issues that can cost them their companies.”

It’s the economy, stupid! Executives’ plates (at the top and middle levels) are full after downsizing and turnover. The general consensus is that they have no time to address or take on any more issues.

Beware of the Ides of March. Some leaders admitted that they are wary of the political climate of their companies and are unwilling to take on issues that are politically loaded. In a nutshell, job security is everyone’s top priority.

Accountability is a loaded gun. Many executives admit that it’s one thing to bring to light the major issues or risks the company is facing. But it’s a whole new ball game taking responsibility to solve the problems. The modus operandi seems to be, Not on my watch.

Patterson discovered that the executive-avoidance attitude leads to a serious condition, commonly known as blind spots. This will be further explored in his forthcoming (2012) book, Finding Your Million Dollar Blind Spots: What the CEO Needs to Know and Doesn’t: The Why and How To Tell Your CEO”.

At a minimum whatever basic risks you are taking knowingly or unknowingly, what are the rest of Your Million Dollar Blind Spots?

About Gary W. Patterson

Gary W. Patterson, president & CEO of FiscalDoctor^®, works with leaders who want to uncover their blind spots so that they can make better decisions.© He has helped companies spanning supply chain, high tech, transportation, construction, and service industries. Patterson is a well-known speaker on enterprise risk management (ERM), operational risk management (ORM), strategic budgeting, risk assessments, leadership, and change management.

For more information on the FiscalDoctor, visit his website at www.fiscaldoctor.com. Patterson also offers a "free" fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 68-319-4739.

Or consider, the FiscalDoctor’s Fiscal Fitness Service, which includes a thorough analysis and review of financials and systems to identify risks and opportunities, and promises “you will receive 10 strategic recommendations that will provide a framework for better managing the challenges inherent in growing your company.” Find your million dollar blind spots in time to make better business decisions.

Which Experts Say the Recession is NOT Imminent?

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 29 Nov 2011 12:47:00 GMT

With all the gloom and doom, where can you find a glimmer of optimism that actually has a factual basis? Look at the recent survey between CFO Magazine and Duke University. http://www.cfosurvey.org/11q4/PressRelease.pdf

The headline of this survey is that recession is not imminent. All great CFOs add caveats to their statements, and this survey does just that. You will not be overwhelmed by traditional comments of the financial statement package, balance sheet, income statement or cash flow projections. You will get the strategic issues considered which impact the financial parts of your Board of Directors report package.

You can use their caveats to see the concerns those CFOs have and are monitoring. By reviewing those ten concerns for applicability to your business, you have just uncovered how to apply market research on the cheap for your business.

So note on your calendar to check for their quarterly results at http://www.cfosurvey.org/ and regularly compare your last offsite leadership meeting, strategy update, budget review, contingency planning session, risk assessment or enterprise risk management update to what the insider CFOs think. Then you and your management team can discuss the differences to adjust your own business model or operating plan. This best practice can provide either the benefits from a risk management consulting firm or enterprise risk management services, or a good starting point if you decide to engage outside expertise later.

Normally this internal discussion will focus on how to avoid risks. Why stop there? Extend the discussion to see where these changes can create an upside option. You may find an opening where others hunkered down too much or got too optimistic and now your business can exploit an opening.

Seizing the Upside of Enterprise Risk Management (ERM)

gary@fiscalclinic.com (FiscalDoctor com) — Mon, 28 Nov 2011 23:47:20 GMT

Listen to internationally known business performance expert Pamela S. Harper, Founding Partner and CEO of Business Advancement Inc., and author of the book "Preventing Strategic Gridlock" interview Gary W. Patterson, widely known as The FiscalDoctor®. Gary has more than 30 years of top management experience with companies in supply chain, technology, service and distribution sectors for companies ranging from startup to middle market to Fortune 500. Several reached 10x compounded annual growth in revenue. Gary holds an MBA in Finance and Operations from the Stanford Graduate School of Business, a BA in Accounting from the University of Mississippi, and is a Big 4 CPA.

Patterson, the author of Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health, provides insights on how business leaders can unlock value with operational assessments or risk management programs, and speaks on enterprise risk management, risk analysis, corporate governance, leadership, and the bottom-line impact of going green.

Last week, when Pam and I spoke we both felt that this interview seems even more appropriate now then when she interviewed me.

Click here for the podvast and call either Pam or me on any questions.

http://www.the-harper-blog.com/2009/09/seizing-the-upside-of-enterprise-risk-management-erm.html

What Cost After 2nd Day Without Computers and Counting

gary@fiscalclinic.com (FiscalDoctor com) — Fri, 25 Nov 2011 12:42:00 GMT

Talk about customer service, disgruntled employees, disgruntled customers, or embarrassment. How would you handle a day without the ability to process credit cards? What if you demanded only cash or credit from your customers? I saw a customer ask if the service could be provided for less than 41 dollars. As I waited in line for my turn, I was not sure how much cash I had. Would I still have enough for lunch or parking, if more businesses that day only took cash?

Is the answer easier or harder based on being a large versus a small customer?

What is you have an office in every state, most cities and a lot of towns? Would your answer change?

Why you may ask? This never happens to Middle Market Companies or major nonprofits, unless it is a national disaster.

Were you at a post office on either Monday November 21^st or Tuesday November 22^nd? I was.

And the sign says:

Due to a national networking issue, we are unable to accept any credit or debit cards at this time. We hope that this issue is resolved shortly and we do apologize for the inconvenience.

Embarrassing? Catastrophic? What would the impact of something this basic being an issue for not just one day, but two in your business?

Enterprise Risk Management Expert/Speaker Gary W. Patterson Contributes

gary@fiscalclinic.com (FiscalDoctor com) — Wed, 23 Nov 2011 10:57:00 GMT

to Best Practices Business Survey, “Three Priorities Prior to Year-end”

A Contingency Plan Is Key to Survival

November 9, 2011 – East Greenwich, RI – The Society for the Advancement of Consulting® (SAC) invited one of its distinguished global members, Gary W. Patterson, to recommend techniques and best practices that companies should consider implementing before the end of 2011. “The feedback was passionate,” says SAC’s CEO Alan Weiss, PhD.

Gary W. Patterson, FiscalDoctor® and author of the forthcoming 2012 book Finding Your Million Dollar Blind Spots©, recommends that business leaders create or refine their contingency plan to prepare for the new year. In this ongoing turbulent economy, preparation and foresight are key ingredients for survival. Patterson stresses that a contingency plan should build on these three basic steps:

Step 1: Identify the known or probable risks – whether they are big or small – your company is currently facing.

Step 2: Develop an action plan that addresses the risks identified in Step 1.

Step 3: Make sure your executive team knows how to implement the action plan if necessary.

About Society for Advancement of Consulting (SAC)

SAC is an international association of consulting professionals who subscribe to an industry code of ethics and have provided evidence of significant consulting results among their clients. For more information, please go to http://www.consultingsociety.com, write to info@summitconsulting.com, or call 800/825-6153 (401/886-4097).

About Gary W. Patterson

Or consider, the FiscalDoctor’s Fiscal Fitness Service, which includes a thorough analysis and review of financials and systems to identify risks and opportunities, and promises “you will receive 10 strategic recommendations that will provide a framework for better managing the challenges inherent in growing your company.” Find your million dollar blind spots in time to make better business decisions.

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How Current are Your Plan A and Plan B?

gary@fiscalclinic.com (FiscalDoctor com) — Tue, 22 Nov 2011 13:26:00 GMT

Does it look like and sound like turbulence has returned to your business and industry? Well it does to a lot of the smart money also.

According to the Wall Street Journal article “Wary Companies are Destocking” (http://online.wsj.com/article/SB10001424052970203911804576653520002677088.html) , you should worry. This means those companies are cutting their inventory of raw materials, which is the finished product for other companies, possibly yours. They also are pulling out their Plan A for continued modest growth and Plan B for a slump. So how meaningingful are those options and which ones should they put into effect?

As you contemplate the impact of the actions of these major companies, it may raise several questions like the following for you.

How thorough are your Plan A and Plan B if they need to be executed?
What changes do you need to make?
How likely on a scale of one to ten do you see your optimistic option being?
How likely on that same scale of one to ten do you see your conservative option being?
How much wider versus the current status quo should you make either Plan A or Plan B?
Decide now in advance of the requirement to make the decision, how much of your finances, people’s efforts and management time you will deploy for an upside opportunity.
How can you use this process as a stress for the next six to twelve months?

Whatever insight you gained from this brief process, consider how to make money from this process. How hard will it be to start? My suggestion is for you to block out some quit time to strategically think through some version of this question. How can you use what you have learned from investigating in more depth the questions above to create a Plan C which is focused on creating an opportunity?

Finally, actually do something to execute the tactical steps you generated from the contingency planning process. Or engage additional expertise with a risk management consultancy or risk assessment service to help.

The FiscalDoctor Is In - Best Practices for Long Term Business Health

What you don’t know about your business …..

The check's NOT in the Mail

Alan Weiss’s Society for Advancement of Consulting® (SAC) Re-certifies

Board Members: What Assets on Your Books Lost Substantial Value?

Jump Start Your Business with These 10 New Year’s Resolutions

Five Steps To Help You Turn Past Mistakes into Opportunities

Building Products Executives: How to Find Your Million Dollar Blind Spots

How Does a 4th Quarter Flat Or Depressed Outlook Affect Your Strategic Planning?

What Opportunity Won’t Occur Unless You Address Blind Spots?

C-Level Executives: Strategy How to Improve Margins on Your Income Statement

How Does September 2011 Report Asking About Storms Ahead Apply To You?

Avoid Lack of Financial Information and Financial Blind Spots

The discussions included a range of topics ranging from lack of financial resources, particularly cash management, balance sheet issues, the MF Global breaking bankruptcy and why it seems the world never seems to learn. Hence the phrase back to the basics continues to be appropriate.

The discussion included the following takeaways.

The entire interview is available at http://www.onthemoneyradio.org/guests/uploads/762.mp3

About Steven PomeranzSince 1981, Steve has helped educate and counsel investors with truthful answers to help people make informed money decisions. Steve Pomeranz is considered "The Investor`s Advocate" and is host of the popular financial radio show, “On The Money”.

For more details on the program and interviewer, visit www.onthemoneyradio.org or www.slpomeranz.com

Up To The Minute Lessons For Today’s Turbulent Economy

From "Stick Out Your Balance Sheet & Cough"

The discussion included the following takeaways.

You can either download from the link below or the show’s website.

CEO Confidence Index update – Optimism With a Caveat

Middle Market C level Executives: Finding Your Million Dollar Blind Spots

Which Experts Say the Recession is NOT Imminent?

Seizing the Upside of Enterprise Risk Management (ERM)

What Cost After 2nd Day Without Computers and Counting

Enterprise Risk Management Expert/Speaker Gary W. Patterson Contributes

How Current are Your Plan A and Plan B?

About Steven Pomeranz
Since 1981, Steve has helped educate and counsel investors with truthful answers to help people make informed money decisions. Steve Pomeranz is considered "The Investor`s Advocate" and is host of the popular financial radio show, “On The Money”.