When Selling Your Business - Planning is Critical

We have all heard Alan Lakein's quote "Failing to plan is planning to fail". However, the problem today is that many middle market entrepreneurs sell their businesses without proper planning for the sale event and thus leave millions on the table.

Read More

Don't Let the Bike Rack hit You in the Face

Don't Let the Bike Rack hit You in the Face

On Tuesday night I went roller blading with a skating group I have just rejoined as I had been told Tuesdays was an easy skate. Unfortunately most of the people on the skate were training for a long road skate, and so decided to make the evening an hour and half of hill work. 13 miles later and totally exhausted I skated up to my car which had my bike rack attached to the trunk. I opened the trunk, sat down, took off my skates and pads, stood up and closed the trunk. The rack hit me in the head and left a mark.

Read More

Precision v. Accuracy: How about using a range?

Precision v. Accuracy: How about using a range?

The concept of precision verses accuracy was first brought home to me back in the depths of time while I doing Physics "A" Level in high school and calculating measurement errors in experiments. From this I learned that no matter how precise one's measurements were, there an inherent error in the tool which was used to measure the results. Taking into account that lack of precision provided more accurate results, which is what we sought.

Read More

CFOs Beware: Problems with Financial Modeling

CFOs Beware: Problems with Financial Modeling

Through my work I have dealt with thousands of Excel, and for those that remember Lotus, financial models and I have to say that most of them are bad. I would like to summarize five of my least favorite things about the "bad" models I have had the unfortunate experience to deal with during my career. All of these issues, except the last one, are sufficient enough for me to walk away from the work or opportunity as they indicate that I am likely to find more problems in the finance area or business.

Read More