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Gene Siciliano Articles

Written by: Gene Siciliano

Financial Mastery for the Career Teacher - Click To Read Article
The role of the career teacher is one of the most valuable in our society. We value our teachers so much that teaching consistently ranks in the top 10 most respected professions. Yet the average salary of a career teacher is 17 times less than the average salary of a professional football player. Therefore, it’s critical that teachers create a family financial plan and make it work with what they have and what they’re earning today.

Budgeting Strategies: Six Tips For Effectively Managing Your Budget - Click To Read Article
A budget is the most powerful way to achieve profit goals. However, the assumption seems to be that once you have a budget, your work is done and your staff will inherently know what to do with it, but this isn't necessarily true. Here’s a quick checklist of six basic techniques for managing the details of a budget.

Sales Compensation Plans: Improve Your Plan to Boost Your Profitability - Click To Read Article
Everywhere I go, CEOs complain that their sales compensation plans don’t seem to work as well as they had hoped. A bad sales compensation plan effectively converts “pay-for-performance” into “pay-for-non-performance.” If your sales incentive plan doesn’t create a win-win-win-for you, your salesperson and the customer-it is bound to fail sooner or later. Here are six key features of a winning sales compensation plan.

Financial Management: Five Key Questions - Click To Read Article
In today's challenging economic environment, it's more important than ever for entrepreneurs and small business owners to have a firm grasp on financial management. When all is said and done, there are a handful of financial management questions that every owner should always be able to answer. Here is my list of the five most important small business financial management questions.

Cost Control Strategies For Recessionary (or Recovery) Times - Click To Read Article
If you listen to the experts who read the tea leaves, the Great Recession may finally be nearing an end. Or maybe it isn't. Only time will tell, but in the meantime, smart business owners aren't hesitating to implement cost control strategies to help improve their bottom line. Here are four strategies you can implement right now to help control costs and position your company for the economic recovery.

Profits, Growth and Cash Flow: Which is Most Important to Small Business Success? - Click To Read Article
Business growth and profitability. Most entrepreneurs would consider these to be the Holy Grail of business ownership. So it’s not too surprising that many participants in the financial workshops I lead are surprised when I tell them that instant profits and rapid business growth aren’t always a cause for celebration. “How can this be?” you might be wondering. The best way to explain it is to tell the story of the Wonder Widget Company. Haven’t heard of them? Well, this is a fictitious company I made up to help me explain business financial concepts in an easy-to-understand way.

Why You Should Create a Business Plan - Click To Read Article
Few entrepreneurs would say that business planning isn't important. Ironically, though, few have created formal, written business plans that help guide the strategic direction of their companies. There are plenty of excuses for not creating a business plan, but those owners and entrepreneurs who have will testify to one simple fact: Business planning works.

SWOT Analysis: How to Avoid the Really Big Mistakes - Click To Read Article
Many entrepreneurs and small business owners commit a cardinal business sin every day: They make decisions without doing adequate homework. The best "homework" a small business owner can do is what's called a SWOT analysis. This is a proven strategic planning tool that gives an organization critical visibility into its internal Strengths and Weaknesses and its external Opportunities and Threats.

Accounts Receivable Collections: How to Get Late-Paying Customers To Pay On Time - Click To Read Article
It's great when accounts receivable collections roll in on time, but when they slow down, you still need to replace goods you've sold, pay your employees (on time), and pay the rent and all the other expenses of running a business. Most bad debt write-offs come from old accounts receivable, not current ones-the older the balance, the less chance it will be collected. So your best bet is to encourage your customers to pay accounts receivable on time. "That's helpful," you're probably thinking, "but how do I do that, exactly?" Here are five ideas that may help you improve accounts receivable collections.

Eight Key Budgeting Tips - Click To Read Article
Most companies don't use budgets to help them meet profit goals. The fact is, however, that budgeting is the most effective way to consistently meet profit targets and avoid costly surprises. Owners and CEOs need to begin controlling the bottom line with some of the same tools they use to control the top line, and budgeting is the first step. Consider these eight tips to help you become a better budgeter.

The Business Case for Open Book Management - Click To Read Article
What if there was a way for you to get your employees truly invested in helping your company earn a profit and achieve its key goals? You’d just tell your employees what you’re trying to accomplish and how you’re progressing, and they’d become rabid fans and supporters. Does this sound too good to be true? Well, it actually happens in some companies where management has been able to adjust its way of thinking about the employee-employer relationship and practice true Open Book Management, or OBM.

A New Year’s Resolution: Five Small Business Mistakes to Avoid in 2010 - Click To Read Article
As you set your sights on 2010 and make plans for growing your business in the decade ahead, first make sure you aren’t carrying any old baggage along with you. Here are five common mistakes that were made by many small business owners during the economic downturn. If any look familiar to you, resolve to correct them now so you can begin the New Year, and the new decade, with a fresh start.

Financial Accounting: Don’t Reinvent the Wheel When Accounting for Your Business’ Future - Click To Read Article
Every small business owner or manager must learn to differentiate between those business processes that must evolve and those that should remain stable. While evolving in order to meet changing consumer demands and an ever-shifting technological environment is essential, there are some business processes where change and evolution are counter-productive, even destructive. Financial accounting is one of these. A complete overview of the basics of financial accounting is way beyond the scope of this article. However, by sharing a few standard accounting concepts with you, I hope I’ll motivate you to perhaps take a little bit closer look at the financial statements your CPA slides across your desk next month.

Referred by: http://donsadlerwriter.com



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