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How can we make “Better Mistakes Tomorrow? Using a simple 5-step approach, our mistakes become fantastic platforms for growth. Yes they may be painful, but in the long run there is wisdom, knowledge and growth in our mistakes.

If you want to increase your sales, focus on customer pain. Benefits of your products and needs of the customer are important. However buy decisions will first focus on customer pain. The customer may not even recognize the underlying reason that select your product or service. #sales #salestechniques #CPA #CEO #vpsales #coaching #salescoaching

PART 4 - 4 Essential Considerations Before Going into Business! Part 1 – Why be your own boss? Part 2 – Ideas and dreams. Part 3 – Risk. Part 4 – Your significant Other. These items precede your business plan, entity creation, and business structure. This video is the 4th and final consideration #entrepreneur #startup #startupadvice #coaching #boss #CFO #cpa #franchisee #franchise

PART 3 - 4 Essential Considerations Before Going into Business! Part 1 – Why be your own boss? Part 2 – Ideas and dreams. Part 3 – Risk. Part 4 – Your significant Other. These items precede your business plan, entity creation, and business structure. This video is the 2nd consideration #entrepreneur #startup #startupadvice #coaching #boss #CFO #cpa #franchisee #franchise

PART 2 - 4 Essential Considerations Before Going into Business! Part 1 – Why be your own boss? Part 2 – Ideas and dreams. Part 3 – Risk. Part 4 – Your significant Other. These items precede your business plan, entity creation, and business structure. This video is the 2nd consideration #entrepreneur #startup #startupadvice #coaching #boss #CFO #cpa #franchisee

Recall the idiom, "Practice Makes Perfect?" In society, we can see our sports heroes, political leaders and business leaders blatantly lie. It typically is a habit, refined over the years, and practiced regularly. Avoid it like the plague. #ethics #lying #cpas #controllers #cfos #leaders

4 Essential Considerations Before Going into Business! Part 1 – Why be your own boss? Part 2 – Ideas and dreams. Part 3 – Risk. Part 4 – Your significant Other. These items precede your business plan, entity creation, and business structure. This video is the 1st consideration #entrepreneur #startup #startupadvice #coaching #boss

Registration is Open! Please join me on December 28 for your Year-end CPE. Please visit https://thorstenconsulting.com/webcasts to Register. Year-end CPE for CPAs, Controllers, CFOs, Accountants, Accounting Professionals "Controller/CFO Strategic Outlook-2023," or "Data and Predictive Analytics / Business Intelligence." You can also register for both at the same time.

Where do you find excellent on-line continuing education? Go no further than ACPEN. Participate in an on-line program with Jim Lindell of Thorsten Consulting and enjoy practical, relevant insights to improve your business and your career! Check out the courses available right now https://thorstenconsultinggroupinc.acpen.com/

It seems hard to believe that parents could forget their child at the airport. Parents Forget Child at Airport. However, I did a similar thing and left one of our kids at the hockey rink. Remembering important items or memorizing information is easy to do. We are not forgetful, we just haven't been properly trained to record and recall memories. Your skills can be improved significantly with just a little practice and understanding. Watch the following and see how it can be accomplished. Enjoy!

Improve Your Memory by Jim Lindell CSP, CPA, CGMA

Many M&A projects begin in the wrong manner. Management teams should start with the strategic need for the M&A process as opposed to unplanned opportunities. The embedded video outlines the steps to be included in a company's M&A journey.

Many corporate teams have used SWOT analysis. There is another tool known as the PESTLE analysis. Pestle stands for Political, Economic, Social, Technological, Legal and Environmental. Please watch the following excerpt from a recent speech to delve further into the topic.
Strategic Trends - PESTLE Analysis - Jim Lindell CSP CPA

Entrepreneurs must be comfortable with risk and uncertainty. Choosing the entrepreneurial path is not for the faint-hearted. In the following image note the number of businesses that started in any given year and the corresponding percentage of businesses that are still in existence as of March 2017. The Bureau of Labor and Statistics is the source of the data.



This data shows that:

Only 80% of the businesses make it beyond their initial year of existence.

Slightly more than 69% of businesses continue through their second year of operation.

Approximately 50% of businesses only make it to the fifth year of operation.

Undertaking the entrepreneurial path is not easy. The odds of failure may be unacceptable for would-be entrepreneurs. It is imperative that prior to starting a business, an entrepreneur must be diligent about understanding: their vision, their product or service offering, the competitive market, potential risks (both SWOT and PESTLE analysis), the business' financial needs including cash flow, ramp up timeframe, business demand for time commitment beyond 40 hour work weeks and most importantly the impact on their personal life.

©2018 Thorsten Consulting Group, Inc.

Today's Controller or CFO must Focus on the evolving nature of their role. This evolving role has four major points of emphasis. They are:

1. Gold prospector.

2. Casting agent.

3. Team player.

4. Meteorologist.

The Controller or CFO as a gold prospector must find ways to be strategic. They must identify the value to the organization beyond traditional accounting functions, accounting process improvement or efficiencies. This individual must also be a casting agent. Every company will acknowledge that their most valuable asset is their people. Therefore the Controller or CFO must be excellent in recruiting, developing and retaining staff. It is imperative that the Controller or CFO as a team player practice servant leadership. When any support service department such as accounting, human resources, or information technology, desires to participate in the Strategic Planning process of the organization, they must practice servant leadership. When support departments complain about not having a voice in the direction of the company it is usually a result of not understanding their role in the organization as well as their inability to be a servant of operations. Finally, a Controller or CFO must be a meteorologist. They must be able to tell what happened to the organization regarding traditional Financial results. They must also be able to predict or forecast what is going to happen to the organization in the future. This not only includes tracking and forecasting the organization results but also includes interpreting the business environment in which the company operates. A Controller or CFO that understands how economic trends impact the organization will always be valued. ©2017 Thorsten Consulting Group, Inc.

Watch the opening remarks of Jim's Keynote on "The Evolving Role of the Controller / CFO."

Jim Lindell - Evolving Role of the Controller / CFO