By Rich Bond
Read this case history, then you tell me:
A new controller we placed at a $10 million electronics company pointed out to management that their generic component business, which was the basis of the business, was just breaking even. Even worse, filling the orders required working over the weekends.
The company raised prices on the generic component orders, which resulted in doubling profits. But more importantly, the company realized their future lay in the creation of customized components they had been developing to meet specific customer needs.
A stronger financial function helped this business maximize their potential. Weak finance can mean you will continue to make the same mistakes over and over and never understand why you aren’t doing better.
Feel free to reach to me to find out if your financial set up is helping or hurting your business. richard.bond@bondandcompany.com.
