I love using cool dashboards to drive financial results in a business. It is the ultimate tool for a forward-thinking CFO to use data, to create visual insight, and to help drive financial improvement.
In my last article, I showed you a cool, interactive dashboard and demonstrated how easy it is becoming to create dashboards that are available anytime, anywhere, from any device. A new breed of Business Intelligence tools is radically simplifying what used to be a complicated and expensive process to implement.
With everything involved in running and growing a company, many small business owners may feel there are not enough hours in the day. Because of this time crunch, business owners may focus so intently on their company that they fail to form connections with the surrounding business community. They may also avoid networking events out of the assumption that they’re populated by salespeople trying to sell products or services or that these events are simply a waste of time.
Editor’s note: Dave Sather, in addition to serving on the Business Bank of Texas board of directors and running a financial planning group, leads an internship program at Texas Lutheran University in Seguin, Texas. The program, Bulldog Investment Company, teaches TLU students about sound investment principles. This year, the participating students competed in the Texas Investment Portfolio Symposium (TIPS) and won top honors.
In the article below, Dave shares some of the investing principles that helped his students win the competition, which are valuable for the average investor to keep in mind as well.
In most cases, when people go into business together, they’re optimistic about their ability to work together and for the business to be successful. Unfortunately, it can be very difficult, time consuming and expensive to dissolve a business relationship.
Learn how others do it. Download our guide to growth.
When you’re faced with an opportunity to grow your business, it’s a good to review the financing options available to fund your expansion. Whatever your opportunity entails— whether it’s adding a new location, buying more equipment, hiring additional personnel, moving into a new market, or acquiring a competitor— the same four basic financing options apply. Let’s review each of them and look at some of the benefits to each:
Mistakes are a normal part of starting and expanding a business. Company leaders have a range of issues to consider when embarking on a period of expansion, including hiring, finances and office-space upgrades. Learning from the mistakes of others, instead of falling victim to them, can give a growing company an advantage.
Unless you’ve been living under a rock the past few weeks, you’ve probably heard that volatility has returned to the financial markets. This should come as no surprise after we saw positive returns every month in 2017.
But based on the way the news media talks about this volatility, we’d expect to see streets littered with corporate carnage and gutters overflowing with bankruptcies. This could not be further from the truth. In fact, the economy is doing quite well and corporations are benefitting.
How many passwords do you have?
Personal email? Work email? Amazon? Facebook? Twitter?
Every website wants you to set up another account with yet another username and password. You also have other sensitive information that you must remember and keep secure, such as your social security number, passport number, voter card, credit card numbers, combination locks, prescriptions, serial numbers, and more. The list seems to grow by the day, demanding more and more of your memory.
Many in the charitable community worry that recent reforms will eliminate tax deductions for charitable giving, thinking this will crimp donations.
This concern arises from the fact that new federal tax laws doubles the standardized deduction to $12,000 for single filers and $24,000 for joint filers. As such, the number of people who itemize tax deductions will certainly drop. Furthermore, the increase in the estate tax exemption to $11 million per person means fewer people will be motivated to make gifts to avoid estate taxes.
There is no denying these items will reduce tax deductibility for charitable contributions. However, rarely have I met a person who only contributes to charity to get a deduction.