RESHAPING YOUR FINANCIAL NARRATIVE
We are LIVE with Fred Parrish and Lee Goldberg talking about Reshaping Your Financials — How to manage your business during COVID-19
Posted by MSBDC Western Regional Office on Thursday, June 18, 2020
I wanted to share the video with you, as well provide some excerpts:
“Running out of cash” is what you want to avoid at all costs!
“Stay calm and don’t panic!”
“Plan, Evaluate, Modify!”
“Every decision has a financial impact, even if “no decision”
“Develop your plan for improving outcomes”
“If something has changed and you cannot bring it back, change your plant to match your reality.”
“Keep repeating – Plan, Evaluate, Modify!, Plan, Evaluate, Modify!, Plan, Evaluate, Modify!
- You cannot do this by the seat of your pants
- Yes, some people do that, but it’s not advisable.
- Recommended to do it as often as possible
- Set up a flash report that will give you information, and look at it daily, or weekly”
“Focusing your advertising is Key — if you go too broad you might be wasting money!”
“Find ways you can promote your business that is not going to cost you an arm and a leg.
- Get your message out”
“Do Facebook Live and walk around your store
- Be novel in your approach”
“ You are never alone; the resources are out there for you!”
Below are the Resources and Speaker information
Fred G. Parrish
Founder and CEO of The Profit Experts and The Profit Institute, and CFO The Veteran Business Project. Since 1980 he has held positions from staff accountant to CEO in both public and private companies with revenues ranging from startup to $3.5 billion. Fred has served on the Board of Directors for 12 organizations in aerospace, manufacturing, healthcare services, business services, insurance, international missions, technology, and document management. He has extensive experience in directing and overseeing company operations, managing corporate resource development, and directing strategic planning for domestic and international organizations. With this broad experience in both operations and financial management in a wide range of industries and at all levels of the organization, he has developed a proven process for optimizing operational analysis, dynamic cash flow management, staff efficiency planning, profit mining and organizational development. Fred is a speaker and instructor on subjects related to profit and cash flow optimization.
Leland “Lee” Goldberg
Founder and CEO of VETRN has over 25 years of experience as chief executive officer, chief restructuring officer, or financial advisor to over 300 companies, including CEO of fourteen companies. He is a former partner in the business restructuring group at Coopers & Lybrand, a founding partner of The Recovery Group (now Deloitte CRG), and a former senior credit officer at Bank of Boston. He is also a certified turnaround professional, he is a past president and founder of the Northeast Chapter of the Turnaround Management Association, and has taught at the graduate business schools at Northeastern University and Boston College and has been a frequent guest lecturer at Harvard Business School. A former Army Officer, who served in Vietnam. Lee is a former Director and Past Chair of World Education, a non-profit engaged in training and technical assistance in literacy, adult education and health education around the world.