Greg Decker, Optima Consulting CFO, discusses his experience with owners and CEOs and how it's the CFO to help find a balance for the business on the accounting side.
One of the key takeaways that I think I've found from working with owners and CEOs is that they tend to be optimistic, which I think is a great thing, a great value that we have in the workforce and the economy here in the United States. And I tend to bring a perspective that, although they may see the glass as half full, it may in fact be half empty, so that we can balance both the risks and the opportunities as the company moves forward. One of the things that all companies should be doing and having had the opportunity to work with larger companies, many of them public companies, is to instill a financial discipline and a cadence so that you have visibility on what your expected outcomes are and that you report and manage against those outcomes on a periodic basis.
So to be specific, you should, if you don't already have one, have a 2020 budget in place and you should have a process that allows you to close your books on a monthly basis and compare your performance, your actuals against that budget and make any adjustments that you need along the way. 2020 is going to evaporate on you. If you do not have your 2020 budget done and a process to make sure you can timely and accurately close your financials every month, you need to contact Optima Office. You can reach me at Greg.Decker@OptimaOffice.com.