Businesses often get tied up in hidden red tape. Staff members develop habits and create processes that over time cause delays and increase costs. Sometimes these unnecessary steps are an unforeseen result of company policy. They may be a holdover from a previous ownership. They could be the result of an imperfect amalgamation of companies, where managers adhere to old procedures while imposing the new. All these process kinks accumulate over time, creating inefficiencies that add nothing to customer value.

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There is never a bad time for you to focus on the professional development of your team. Finding the time is another matter. It’s easy to defer the investment until “it’s more convenient” or the “new version is released”. By the time you reach those timelines, it may be too late. Your team has left or isn’t capable of performing to the standards you expect. It’s not on them. It’s on you.

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Welcome to the latest episode of “CFO Talk.” In this sequel to Do You Know What the Income Trap Is? Joe expands on the lessons he shared earlier with more examples to emphasize the perils of ignoring the income trap. In the sequel the wisdom of the balance sheet takes center stage and the nightmares of the Income Trap unfold. Host Steve Rosvold and guest Joe Connors, a premier banker on the U.S. West Coast, dive deep into the world where numbers aren’t just numbers—they’re the very lifelines of our businesses.

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Years ago, a global consulting company, developed the slogan,

“Each employee comes with their own brain at no extra cost.”

In the years since coming across that slogan, I have had the opportunity to deliver talks to the Oregon Society of CPA’s, Institute of Management Accountants, the Financial Executives Network Group, and other professional organizations with Finance and Accounting professionals in the crowd.

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Managing cash flow effectively is not just a financial task—it’s a vital strategy that breathes life into every business, influencing everything from day-to-day operations to long-term planning and growth. At its core, cash flow management involves monitoring, analysis, and optimisation of the cash entering and exiting your business. This dynamic process ensures that a company can meet its financial obligations, avoid excessive debt, and secure a prosperous future.

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