80 20 principle

Budget Time: Use the 80/20 Framework to Keep Costs in Line

You’ve probably heard of the 80/20 concept (also known as the Pareto Principle), where 20% of whatever you are considering (i.e. workers, technology, inventory) is responsible for 80% of the results (productivity, sales, and profit.) The fourth quarter of the year is budget season and a great time to take a closer look at your …

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rear view mirror

The Rearview Mirror for Looking Ahead: Know Yourself to Grow Yourself

“Why do you accountants always focus on the rearview mirror?” This question was posed to me during a small business workshop I was conducting. Read on to see how I answered it. But first some context: I do workshops for small businesses frequently, to share more deeply about my Fractional CFO framework and approach. I …

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avalanche

Four Things to Regularly Assess in Your Business

One of the skills an experienced big mountain backcountry skier practices is testing the snowpack for avalanche risk. “I think it looks good,” won’t cut it. We have to pull out the shovel and test the pack to ensure we can venture down in a safe way. Otherwise, we risk life-threatening conditions and danger. “Where’d …

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