Introducing the Small Business Finance & Profitability Blog
April 6, 2009, 11:59 am
The purpose of the Small Business Finance & Profitability blog is to cover all manner of topics affecting the profitability of Small Businesses. While my professional experience and expertise have been gained with profitability issues facing large multinational banks, it is my sense that challenges facing Small Businesses only differ in size and immediacy.
And herein lies a major challenge for Small Businesses. A large company or financial institution may have the resources to weather a down-tick in profit. It may have the time to figure out what is causing the problem:
● analyze and pinpoint what is going wrong; cross-check data
● consider different alternatives for fixing the issue; test options
● implement steps to resolve the problem; institute preventative steps
For small businesses, the numbers may be much smaller, but the stakes are significantly higher. Plus, unfortunately, time moves so much faster.
We’ll cover a lot of ground:
● Basics: what is profit? what is profitability? what are the components? how is it calculated?
● Fundamentals: tracking, reporting, analyzing and modeling
● Business Building Blocks: business models, products & services, clients, company functions
● Market: competitors, branding, regulation, risk, economy, change.
And a myriad of more detailed topics that impact a company’s profitability.
In the meantime, Small Businesses are of major importance to the economy. According to the US Small Business Administration (from Census Bureau data), companies with fewer than 100 employees employed 43 million people, while companies with more than 10,000 employees employed 32 million people. Not bad for the businesses that will power the future economy.
Sources for topics
The business objective of Integrated Profitability TM is to help companies and organizations, including non-profits, to maximize their long-term profitability by integrating financial and business reporting throughout the organization so that everyone and every function is directly connected to the long-term success and profit of the company.
As such, much of the content for the blog will be sourced from my own career experiences. In addition, I look forward to hearing from and working with small business owners regarding the types of issues they face on a daily basis. The financial press will have many topics deserving of coverage. As interest and questions increase, relevant surveys and case histories will also be apropos.
May your profit grow!
Bill
William Stong
william.a.stong@gmail.com
c. 2009 Integrated Profitability
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