leadership

partner accountability: seven signs your firm may be in trouble

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do you have the courage to change the firm’s culture?

by august aquila

august_aquila
aquila

accountability, according to the merriam-webster on line dictionary, is “the obligation or responsibility to accept responsibility or to account for one’s actions.” let’s explore what this definition means.

first, there is an obligation. an obligation is a promise to do something. if a company has a financial obligation and fails to meet it, it may go into bankruptcy. if individuals fail to meet their obligations they also fall into a state of bankruptcy – i.e., failure.

second, it is a personal responsibility. each individual needs to account for his or her own success or failure.

impact of lack of accountability

there is a real financial impact to the firm because of a lack of accountability. read more →

integration: seven keys to a successful merger

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remember rule number one – “no integration, no successful merger.”

by august j. aquila

you decided to conduct a merger to achieve some strategic objective, you went through all the emotional turmoil of getting both parties to sign the documents, and you think you are done.

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10 new year’s resolutions for small business

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even if the economy isn’t helpful, businesses can start planning now on how to improve their operations.

“the main goal is to manage cash flow more efficiently,” says leigh lones, risk director, bibby financial services, a factoring company. “with some forward thinking and planning, businesses can implement important changes to their operations to improve their bottom lines, even if the economy remains lifeless.”

10 new year’s resolutions for businesses

1. pay your employees first, they are your highest priority and don’t forget the irs – keep current with payroll taxes.

2. pay attention to the credit worthiness of your customers so you are confident your will get your money. remember a sale is not a sale until you have been paid.

3. limit the amount of business you do with any one customer so you aren’t left penniless if they run into trouble and are unable to pay. read more →