4Thought Blog

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Improve Your Business Gross Profit Through Inventory Control

Posted by Tony Deutsch on Thu, May 25, 2017

Controlling and monitoring your inventory is an essential part of maximizing gross profit. To control your inventory, you must have a system of checks, balances and procedures in place.

Here are several inventory control techniques business executives should consider to help improve gross profit:

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Topics: Business consulting

Shorten Your Cash Conversion Cycle to Boost Your Business’s Bottom Line

Posted by Tony Deutsch on Thu, May 18, 2017

Sufficient cash flow is incredibly important to the success of your business.

It’s a critical metric in business health. The amount of available cash your business has on hand at any given time affects both your daily and long-term operations.

Poor cash flow makes your day-to-day business operations more challenging and it also negatively affects your timeline on paying creditors.

Fortunately, there are ways to shorten your cash conversion cycle. Reducing the cycle length can even boost your bottom line through interest savings.

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Topics: Business consulting

Small Businesses: Get Free Financing, Tax Advice for Small Business Week

Posted by Concannon Miller on Thu, Apr 27, 2017

Small businesses are the lifeblood of the U.S. economy.

That’s recognized nationally through National Small Business Week and locally through the Pennsylvania Small Business Week.

Both weeks run April 30 through May 6, and both the federal and state governments are holding multiple free webinars providing small businesses with tax, financing, marketing and other guidance.

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Topics: Business consulting, Small business

Business Productivity and the Rule of Three

Posted by Ryan Moore on Thu, Apr 20, 2017

We all sometimes wish that there were more hours in the day or that we could somehow clone ourselves in order to get everything that we needed or wanted to get done, done … right?

In our increasingly complex and time-constrained world, the concept of productivity takes center stage. We are left pondering questions like:

  • How do you really become more productive?
  • How do I measure my productivity?
  • Is it even possible for me to get more done than I already do?
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Topics: Business consulting

Seasonal Businesses: How to Best Manage Cash Flow

Posted by Concannon Miller on Thu, Apr 13, 2017

What do pumpkin patches, ski resorts, ice cream shops and accounting firms have in common? They're all seasonal businesses that experience a surge in revenues during their busy seasons that tapers off in the slow season. Seasonal peaks and troughs present challenges that require creative planning and fiscal prudence.

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Topics: Business consulting

Business Owners Can Accomplish Their Goals – If They Prioritize

Posted by Tom Garrity on Thu, Mar 30, 2017

We all have great ideas and plans. But actually moving on them is really hard. (It really isn’t, but we make it that way.)

Why?

Because you can’t do everything. I know – nothing new there – but we all get caught up in it. There are three resources we all have in limited supply: time, money, and people.  And the most critical resource is time. I don’t care how much money or how many people you have, you cannot get any more time.

One of the first lessons of strategic planning is that the toughest part of strategy is not deciding what to say “yes” to, but rather what to say “no” to. Focus and priorities are where success lies.

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Topics: Business consulting

CFOs Serving as Operating Partners Can Further Company Success

Posted by Andy Kahn on Thu, Mar 2, 2017

Some CFOs serve as their companies’ directors of operations or administration. But even if administration or operations aren’t your official duties, they’re still areas where CFOs can add value to their companies.

Previously, we talked about the benefits of CFOs participating in strategic planning. But there are significant benefits to actively participating in your company’s daily operations as well.

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Topics: Business consulting, CFO Advisory Services

Business Strategy 101 - Anyone Have an Extra Napkin?

Posted by Tom Garrity on Tue, Feb 21, 2017

Some of the best-laid company plans were created on the back of a napkin. Lots of scribbles and doodles, but in the end, that lunch time, strategy brain dump was like gold. And it all fit on “one page.”

As businesses grow, leadership gets so engrossed in survival that they forget to stop, review, and update their “plan” for growth. Eventually, the team loses sight of the “one page napkin” (or literally lose it) and the company begins to lose its focus, alignment and direction.

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Topics: Business consulting

Improve Your Business’s Cash Management Through Financial Statement Reconciliation

Posted by Laura Gaythwaite on Thu, Jan 26, 2017

The start of a new year is the prime time for resolutions, including financial resolutions.

If you’re a business owner or finance officer, those resolutions should include reconciliation of your bank and financial statements. Closing out your 2016 bank statements and starting with a fresh accurate bank statement in 2017 is one step in ensuring you have solid cash management practices in place.

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Topics: Business consulting, Small business

7 Key Questions a Strategic Thinking CFO Should Consider

Posted by Andy Kahn on Tue, Jan 24, 2017

In today’s business climate, every key management position needs to offer more value, and the Chief Financial Officer is no exception. Due to the broadening scope of the role, it’s crucial for CFOs to go beyond their financial reporting duties and take an active role in their company’s strategic planning.

Your financial expertise is a strength that can be leveraged in multiple scenarios. That knowledge can be used in partnership with identifying the key constraints holding back your company’s growth.

The following seven questions will help you determine those constraints – and how you, as a strategically-minded CFO, can help overcome them:

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Topics: Business consulting, CFO Advisory Services

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