THE Career Site for Accountants and Consultants.
I saw this quote from Elon Musk the other day where he said CEOs need to spend less time on finance and less time looking at PowerPoint slides.
All that sounds good for the people who are willing to work 80 hours on their company so they don’t have to work 40 hours on someone else’s and all that… but there’s one thing The Great Flamethrower failed to mention…
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Someone recently sent me a question asking about tips for managing finances for small business owners looking to expand. Small business owners looking to expand face the same fundamental finance problem any other business faces – how to invest in your business while making sure you have enough cash to pay your bills.
You might think that sounds obvious, but if it was so straightforward we wouldn’t have 50% of businesses failing by year 4. Businesses fail for one reason – they run out of money. Unfortunately, running out of money is a symptom of many possible problems and doesn’t necessarily indicate mismanagement of finances.
You ever thought about transitioning to management consulting but not quite sure what the path is? Well I’ve said it before and will say it again – there’s not just one path.
But instead of my telling you again about how I made the transition into consulting, I thought you might benefit from hearing a few other people’s stories. Up first is the story of Zach Steeb.
Enjoy and let me know if you can think of other questions you’d want to ask. [Read more…]