Category Archives: Small Business Management

Entrepreneurs on the State of Small Business

In this blog I include a link to an article by INC Magazine on what entrepreneurs think about the state of small business. Small Business owners should find the results very interesting.  As an example one question is ” What would you say your business is worth today versus five years ago?”. Here is the article titled “Entrepreneurs on the State of Small Business“. (An advertisement may first appear, if so you can skip the add.)

Take a look and see how your answers compare.

I’ve been absent for several months dealing with family issues. I will be publishing this blog in the future on a weekly basis. CFO 4 Small Biz provides financial guidance for small business from start-up to $30 million.

Is your financial guidance exceptional?

If not, contact me.

Dave Mayo, CPA, CGMA
Founder & Partner
CFO 4 Small Biz TM

The Top Five Accounting Issues That Cause Small Businesses To Fail

Last November Chicago Score hosted a seminar titled “The Top Five Accounting Issues That Cause Small Businesses to Fail”. This seminar was presented by myself as Founder of CFO 4 Small Biz, and E. Pete Lewis, of Lewis & Associates Tax Planning Inc. In this blog I will provide an overview of the content of the seminar. I covered the operational accounting issues while Pete covered the tax related issues. Pete’s firm specializes in tax planning strategies.

We defined the top five issues as follows:

  1. Business Formation Issues
  2. Cash Liquidity Issues
  3. Failure to use Financial & Tax Information to Maximize Profits
  4. Pricing and Margin Issues
  5. Tax Issues Often Overlooked

In the first failure Continue reading

Business Wisdom Musings

I would like to list some of the business wisdom musings that I have had over the years. I had one manager call them “Mayo-isms” (those in bold). I have had so many that I won’t be able to recall all of them. But here goes:

On Compensation
If you pay peanuts, you will get monkeys.

On Guiding Subordinates
Your job is to make me look like a superstar and mine is to help you.

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