“Where is the money?”
Once, I had a client call me in because they couldn’t pay their bills on time. When I first met with them, the accountant was in the room just finishing up his work. He turned to the owner and said, “You had a good month; you made $42,000” The owner was thrilled. I turned and asked the accountant this question. “So, where is the money?” He looked at me confused, “Is it in the bank? Does he have more inventory, less payable, or more receivables,” I asked? The accountant tried to explain why he couldn’t answer the question for the next hour. The sad truth was he had lost control of this big organization and been plugging numbers “Trust but Verify” all of the financial transactions in your firm. It’s your money and your responsibility!
P.S. If you have ever wanted to exchange ideas or have a conversation with a Business Coach, let’s set up a no-pressure and no-fee time to connect.
