Monthly Archives: October 2013

Income Statement: Critical Summary of Financial Performance

Think of an income statement as the summary of a company’s financial performance over a specific time period. It basically provides a structured overview of how a business generates revenues and how much it spends on operating expenses and non-operating expenses such as those related to interest charges, restructuring and employee benefits. An income statement

GAP Analysis Compares Where You Are to Where You Should Be

When strategic planning, companies should perform a thoughtful GAP analysis. This exercise compares your company’s actual performance against your organization’s potential performance. Your vision of a winning strategy may change, sometimes dramatically, when you honestly compare your operating results with your potential or desired results. Often, business owners are “too close” to daily operations, overcoming

Get Expert Help With Management Accounting Requirements

Management accounting is very different from simply making entries in your books and records. The most striking difference: Management accounting looks forward, while traditional financial accounting focuses on what’s already happened. The people targeted to use management accounting is another major variation. Financial accounting is primarily used by regulators, investors, shareholders and creditors. Management accounting

Branding, Shmanding… What’s The Big Deal Anyway?

There are a number of buzzwords floating around in the marketing world–brand identity, brand management, logos, brand recognition, brand experience, and on and on and on. And while we always thought that logos were the dream world of design gurus everywhere, this huge emphasis on having a distinct logo and developing a distinguishable brand has

Creating a Winning Marketing Strategy for Your Business

Creating an outstanding product that solves a problem is an important first step, but it is only one part of establishing a successful business. Creating a winning strategy for marketing your product is key to driving the type of revenue you’ve always dreamed of. But this is the very spot where many companies stray off-course

Don’t Confuse Strategy With Tactics

If you equate strategy with tactics, you’re missing a vital point–but you’re not alone. This is an all-too-common view which typically hurts strategic planning efforts. Understand, business is much like college and professional football. Coaches design game plans for upcoming opponents. This is their strategy. However, coaches also infuse the tactics they feel will best

Vision, Values and Mission Equal Strategic Planning

As Roger Martin so eloquently stated in his article, “Don’t Let Strategy Become Planning” (Harvard Business Review, February 2013), while every business needs an effective strategy, they don’t need a strategic plan that is little more than another budget. Strategic planning is only as useful as the strategies contained therein. Valuable strategic planning must contain