Better decisions, better business

I would like introduce myself to you. I am a new member of the CoreConnex team: The Professor. I am available to all Corelytics™ Financial Dashboard users to answer questions about managing finances, setting goals, evaluating ratios, understanding benchmarks, using the dashboard and other related topics. Just email your questions to me at theprofessor@coreconnex.com.

My goal is to help you build competencies in financial management. I’ll assume you know enough to pay bills, collect revenues and read a P&L (profit and loss statement) and Balance Sheet. But even most MBAs don’t have a firm grasp on the key financial topics that can make or break a small business. That’s where I come in; I’ll help you with the important topics that will enable you to steer your business and build a valuable company. Central to my coaching and advice is the Corelytics™ Financial Dashboard. With this tool you can get the advantage of high-end financial analysis without spending hours cranking the calculations.

It is important to understand that management is a continuous and recurring process. The more you structure your management process to measure and evaluate performance and hold people accountable for results, the more your business will grow. Many businesses hit the wall just because they don’t have a functioning management process. A good management process is needed in all areas of the business: operations, organization, customer services delivery and especially finances. If you are doing well on all of these except one, it is like trying to drive a car with one wheel missing – it’s not going to get you very far. Financial management seems to be the area that entrepreneurs need the most help with.

I’m tempted to remind everyone that financial management is not the same as financial accounting. There is a very important distinction here, but I’ll save that for another discussion. You might want to read the blog entry entitled: Financial Management: The Challenge for IT Service Providers for more on this topic. For now I would like to emphasize that my role is primarily about financial management, but with some limited help with accounting questions. My goal is to help you move from score keeping (accounting and reporting) to active engagement in the financial management game. That’s where winning happens.

Just in case you want to know who The Professor is, I will tell you that I am actually a team of people. The team includes multiple university level teachers, master’s degree students, experienced financial managers and business operations managers.  I look forward to being part of your team and helping you build a successful business.

Stay tuned – much more to come!