By Rich Bond
Aesop’s Fables have been a source of wisdom for centuries, and their timeless lessons continue to be relevant for modern day business owners.
One fable in particular, “The Lion and the Mouse”, showcases the power of even the smallest and seemingly insignificant players in making a difference.
Just as the mouse saved the lion with its wit and bravery, so too can the seemingly small roles in a business have a huge impact.
One such role is finance. While it may seem like a back-office operation, finance can make a crucial difference by freeing a business from its traps and obstacles, much like the mouse saved the lion from the hunters’ net.
For example, a savvy controller can turn inventory management woes into growth opportunities. By reducing excess inventory, streamlining operations, and improving the fill rate of on-time orders, this unsung hero can help a business reach new heights of success.
- In one real-life example, a manufacturing company secured 19 patents over 20 years, but despite all its innovation, it was under-capitalized and had plateaued.
- That’s when a new controller came on the scene and transformed the business.
- By reducing inventories by over $1 million and increasing the on-time order fill-rate from 85% to 90%, the company saw sales grow from $30 million to $50 million in just five years!
Please reach out to me, if you want to chat about how finance can transform a business. richard.bond@bondandcompany.com
