INTRODUCING MY BOOK! BANK LIKE A BOSS: How Entrepreneurs Maintain Access To Cash In Good Times And Bad. Get your copy on Amazon.
In his review of my book, Bank Like A Boss: How Entrepreneurs Maintain Access to Cash in Good Times and Bad, Rick Flynn, CPA, President/CEO, and Founder of Flynn & Company, Inc. in Cincinnati, OH says,
“Today, small to mid-sized firms are navigating a fast moving business environment that requires agility, discipline and forward thinking to survive and thrive. Richard Barbercheck masterfully blends his vast banking and business consulting experience to provide a well-balanced, multi-disciplinary view on managing critical financial resources, Bank Like A Boss is an insightful field book for business owners responsible to maintain and expand bank financing and support for long-term success.”
While Bank Like A Boss is written to provide guidance on how to position your business to be bankable in good times and bad, the underlying premise is that your business should always be positioned for growth and success. In the book you will find perspectives and tips on how to accelerate your business through challenges and achieve greater success. I’m frequently asked, “What are the greatest challenges businesses are facing today?” When I look at the variety of circumstances I encounter with businesses, I think the greatest underlying problem is a complacent mindset. This occurs when the business reaches a comfort level of performance and the ownership/management says, “If we do a little better than last year we’ll be happy.”
The problem with this approach is that everything begins to perform with that same attitude, and the reality is that some of your competitors are taking a more aggressive approach. Remember the adage, “If you’re standing still, you’re falling behind.” In Bank Like A Boss, we address this as one of the traps in the business life cycle. What’s happening here is that business owners/managers reach the point of comfort and confidence that they no longer feel the need to aggressively grow the business. Their initial dreams and desires have essentially been met and they only feel the need to maintain performance, when effectively they’re falling behind or failing to see a brighter future.
Abraham Lincoln once said, “If we could first know where we are, and whither we are tending, we could better judge what to do and how to do it.” What a simple yet valuable perspective. When you find your business becoming complacent, comfortable, and confident, with a “We’ve got this” attitude, it’s time to revisit Lincoln’s quote. Start by gaining clarity and comprehensively understanding where your business is really at. Look at it from a buyer’s perspective, or that of a startup. Clearly define where you’re at.
Once you’ve got a clear perspective, start dreaming again. Plan for a new future. Determine what you really want, develop a Strategic Plan with aggressive performance goals to achieve new levels of performance. Once you’ve got your plan in place focus on performance and strive to excel in all critical performance areas. With this approach of focusing on your company’s Position, Planning, Performance, and Potential you’ll avoid the complacency trap.
Look for this and other valuable guidance in Bank Like A Boss: How Entrepreneurs Maintain Access to Cash in Good Times and Bad. Get your copy on Amazon.
To develop your company’s customized Position, Planning, Performing, and Potential Program contact me at Richard@StrategicOrientation.com. We’ll work together to determine your next steps towards an even greater level of success.