When you feel that you have been treated unfairly:
- Think of Victor Frankl.
When you feel that no one cares:
- Think of Mother Teresa.
When you just want to give up because it is too difficult:
- Think of Winston Churchill.
Most of us have nothing to complain about. I am always amazed and blessed by those that overcome significant obstacles. They provide the inspiration to pick ourselves up and move forward.
US. Bureau of Economic Analysis, Federal Government: Current Expenditures [FGEXPND], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/FGEXPND/, December 14, 2014.
Increasing Controller - CFO Value. From "Controller as Business Manager" by Jim Lindell,CPA,CGMA, MBA. Published by AICPA copyright 2014.
How do Controllers and CFOs increase their value to their organizations? It requires them to move from traditional practices and expand to business strategy, industry strategy in addition to obtaining and understanding trends that impact the business or organization. Sometimes it is not always apparent what impact a specific trend will have. The traditional practices must still be followed and implemented. However, these practices are what is expected of Controllers and CFOs today. It is similar to how quality is expected in manufacturing or service. It is also easier to replace a Controller or CFO that operates only in the traditional role. The Controller or CFO that masters each of the expanded roles in the image will not only be more valuable but will also be more difficult to replace.
HR managers and IT managers that have struggled with being excluded from strategic processes in the organization can also take heart in a similar approach. They must become business people first and then be recognized for their expertise. Rarely are they recognized for their expertise. It is in their application of their expertise as a resource or servant leader to the other parts of the organization that their true value can be recognized.
Following is a short video on my presentation on Increasing Controller / CFO value. It was delivered in Las Vegas in Nov. 2014 and the topic was Innovation and Creativity in an Organization. This clip is based on an excerpt from my new book published by the AICPA - "Controller as Business Manager." Click on the following link to read more about the book Controller as Business Manager
TEC Leadership Podcast - Driving Value in the Organization - Controller as Business Manager - George Satula - Jim Lindell
George Satula hosted Saturday, November 8, 2014 radio show which featured a conversation with Jim Lindell, CEO of Thorsten Consulting, TEC Chair and award winning speaker! This was a great talk about driving value in an organization. The topic was based on Jim's new book "Controller as Business Manager" published by the AICPA. Listen to the Podcast https://tecmidwest.com/wp-content/uploads/2013/12/tec_11-8-14.mp3
TEC Leadership Podcast - Driving Value in an Organization - Controller as Business Manager - Jim Lindell
We live in deeds, not years; in thoughts, not figures on a dial. We should count time by heart throbs. He most lives who thinks most, feels the noblest, acts the best.
Allocation of Time and Tasks for Bookkeeper through CFO - Thorsten Consulting Group (c) 2014 Thorsten Consulting Group, Inc.
The related graph contrasts examples of responsibilities, positions and time allocations. The actual allocation and assignment of responsibilities will depend on the size, complexity and culture of each company. Therefore the image portrays relationships between strategic, tactical and clerical functions. A one person shop will blend all three. The important lesson is that someone must be addressing each of the areas. If strategy is overlooked, long term dangers may not be identified. If tactical is overlooked, regular reporting and control functions may be overlooked and deadlines missed. If clerical is overlooked, detailed transactions will be missed or inappropriately categorized. The following are example areas of responsibilities for each position.
Today, I posted to my social media accounts the following statement:
"The desire for wealth is understandable, the pursuit of wealth is underestimated, the harm in achieving wealth is misunderstood. - JL 4/14"
The desire for wealth is understandable -
Wealth can be attractive. It can be a tool to improve one's: life, family, or community. To pursue it to achieve a noble goal is the starting point for many.
The pursuit of wealth is underestimated -
The time commitment to achieve great wealth is sorely underestimated. This commitment may have many unforeseen costs that in retrospect are much greater than the wealth to be achieved.
The harm in achieving wealth is misunderstood -
Wealth that results in narcissistic behavior, reduced self discipline, reduced commitment to improving one's: life, family or community, is not wealth - it is a curse that is cloaked in a very seductive way.
Why is Monday the Worst Day of the Week? It has to do with the following:
Job or school satisfaction
Control over your day
Work vs. fun or relaxation
Unfinished work or homework
Pleasant expectations
Consider the following image. It is as simple as 1+2=3. Monday is the Worst Day of the Week with a "5!"
Remember that "the answer to life the universe and everything is 42" - according to Douglas Adams and "The Hitchhiker's Guide to the Galaxy." Saturday is at the top of the list with a score of "31." Only 11 points short of "the answer to life the universe and everything."
The following chart depicts the overall unemployment picture from the BLS. Note that the U-3, known as the Official Unemployment Rate, has been decreasing and currently stands at 7.2. It appears as good news but unfortunately it is insignificant. It also does not represent the entire unemployment picture.
UC Rates Sept. 2013
Now consider the Civilian Employment - Population Ratio, known as EMRATIO from the St. Louis Fed. The overall ratio has declined from over 63% to less than 59%. The effective number of people employed has decreased significantly. Since almost 70% of the population is responsible for driving the economy, the decrease in the EMRATIO impairs the ability of the consumer to keep influencing the GDP to the necessary extent to improve the economy. In essence, the government will continue to stimulate the economy to make up for the missing contributors.
Emratio 10-22-2013
Copyright 2013 - Jim Lindell, Thorsten Consulting Group, Inc.
Is there a difference between practice and training? Absolutely! Consider the definitions of each term.
Businesses need to practice in the same manner that Sports Teams need to practice.
Practice is the act of rehearsing a behavior over and over, or engaging in an activity again and again, for the purpose of improving or mastering it, as in the phrase "practice makes perfect". Sports teams practice to prepare for actual games. Playing a musical instrument well takes a lot of practice. It is a method of learning and of acquiring experience.
Both Businesses and Sports Teams invest in training to acquire new skills.
Training is the acquisition of knowledge, skills, and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance.
Businesses invest time to learn new processes / skills through training. Sports teams do the same. The big difference is in practicing. Sports teams invest time to practice or rehearse so that they can execute during a game. Unfortunately, businesses rarely practice but utilize OJT and correct mistakes as they go. A business that wants to be more successful will invest the time for employees to practice!
Note: the sources of definitions for practice and training were: http://en.wikipedia.org/wiki/Practice and http://en.wikipedia.org/wiki/Training respectively.
Organizations will use SWOT analysis in Strategic Planning efforts. SWOT represents:
Strengths
Weaknesses
Opportunities
Threats
The typical SWOT process requires input from senior managers. The distillation of the input should result in key points that the management team will: ignore, leverage, invest, divest, mitigate, defend or improve.
One way to leverage the SWOT process is to have knowledgeable objective outsiders provide input for the SWOT analysis. The outsiders are typically not: held back by current paradigms, influenced by internal politics, advocates of a particular agenda. Companies have brought insiders in for focus groups and other type of information gathering processes. Expand the use of outsiders to enrich the strategic planning process.
It is amazing how many people will rush to post a comment but fail to consider their grammar. As a result, the individual will: look foolish, dilute their comment and invite ridicule from other readers. Consider the image in this post. The article suggested that it may be possible to predict heart disease from a medical review of the patient's fingers. The first commentator posts a comment that adds no value. The second commentator points out the lack of value in the comment and the incorrect grammar. The third poster incorrectly contradicts the second poster and shows his own ignorance regarding you're vs. youR. The second commentator then finishes off the third commentator with a factual comment and a derogatory comment. Both the 1st and 3rd commentators now have information on the web (forever) that portrays each of them in a negative fashion.
Before you post:
1) Is it an accurate statement?
2) Is it free of grammatical and spelling errors?
3) Are you willing to be associated with the post 5 years from now?
4) If you are trying to be humorous, cynical, or skeptical is it obvious to the reader?
Jim Lindell is a National Speaker, Author, and Vistage Chair. He is motivated by helping others improve their lives and businesses.
He is President of Thorsten Consulting Group, Inc.
Order Jim's book - "Controller as Business Manager".
controller as business manager - jim lindell - thorsten consulting group