What? A lease is not a lease?

For many decades now leasing has been a reasonable alternative to buying when a business wanted to acquire assets. Whether for cash flow, tax or flexibility reasons, leasing provides needed choices for firms. Then FASB & IASB decided to change the rules because...

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Eliminating waste: Part 2: Fixed costs

The difference between Variable Costs (VC) and Fixed Costs (FC) is, well, VC move in some relationship to production and FC don’t. FC do not change over some period of time, say a year. Because they are fixed we can budget (plan) them fairly accurately. And this gives...

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What do you need: Growth capital vs. Working Capital?

Working capital? Growth capital? • What do the terms mean? • Which do we need? • What is the difference? • Why should we care? I have heard these questions over & over again from both consulting clients & training attendees; so here are the answers. Working...

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How can You improve Your Decision-Making?

We all have to make a lot of decisions every day. How often are they the right decisions? What is the impact of a wrong decision? How can we make better decisions? Some decisions are easy; what to have from the lunch truck menu today? Others are more difficult; how...

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Consulting or Training? Which is it?

Well, which is it? I hear the question come up frequently in the marketplace: do you do training or consulting? My reply: Why does it have to be one OR the other? Here is the difference as we see it: • When a client wants to learn the principles of doing something so...

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Cost Cutting Doesn’t Work. So…?

Cost cutting doesn’t work. No surprise. But wait. Then why do so many organizations think it does; or at least demand their employees achieve these results? Could it be the focus on improving the bottom line at all costs (pun intended)? Perhaps. Question:    if cost...

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Which is better: Profits or Cash Flow?

The question came up with another client just this week: what should we focus on; Profits or Cash Flow? Let’s start by clearly stating what each of these is. • Profits represent revenues less expenses generally on an accrual basis as presented on the Income Statement....

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Are You working “in” or “on” your business?

“What? Working on vs. in my business? I’ve never thought of it that way before.” This is the response I typically get when I ask the question. The fact is, too many people don’t ask themselves the question so they end up working in the business. Here’s a thought; the...

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Invention or Innovation?

Well, aren’t they basically the same? No. As my friend, and contributing author Ted Whetstone, said in THE Book on…Business From A to Z; The 260 Answers You Need to Know, “…While invention stresses something new or discovered (like the idea of the first light bulb),...

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