By Rich Bond
One thing big companies are good at is stepping back to get a different perspective on their business. They do this through strategic planning. Often times, smaller companies don’t take the time to go through this important periodic process. A strong CFO or other financial person can play a major role in helping a company look at a bigger picture and then plan and execute strategically.
Always doing things the same way, especially when moving into a new product area, can be a costly mistake. Companies need to look at what their competitors are doing and where the market is going. A good finance person can and should be doing that.
This three-minute video tells a story of how a new financial leader I helped place in a big company could see that they were competing on an uneven basis in a new product area. Take a look. It may help your company to move ahead more profitably.
Organizations face a huge OPPORTUNITY COST for continuing to do the same things over and over whether they are working or not.
Let me know what you think about small companies and strategic planning. Email me at richard.bond@bondandcompany.com
