Insight Associates provide outsourced accounting and Finance Director services to ambitious and growing businesses. We work as your only resource or with existing staff to give you complete financial support including monthly management accounts, high level financial advice, robust controls and financial systems, funding and business planning, payroll & compliance, VAT returns and statutory compliance.

Successful business leaders have all the information they need to make good decisions…Do You?

Wednesday, January 02, 2013

Would you trust the US politicians to run your business?

It has been entertaining over the past month or so to see the US politicians again bickering and arguing over the management of the US economy much like they did a couple of years ago over raising the debt ceiling.

This time it is all about the so called “fiscal cliff”, which basically comes down to various spending cuts being imposed and tax relief's being removed if they don’t agree something else. This which will almost certainly drag the US back into recession and probably a lot of the rest of the world with it!

And every time - it is all so last minute!  Where would we be without the 11th hour?

These guys are charged with the task of running the world’s largest economy, yet they act like kids in charge of a candy stall. My question is, would you run your business like this?  Of course you wouldn't … or in fact do you?

We see it time and time again that often through ignorance or denial, business owners and managers do not ensure they have the facts in front of them and act accordingly and in good time. If things are going bad they bury their heads in the sand like the proverbial ostrich and just hope the problems go away, or convince themselves that everything will be alright as something positive will happen. Running a business effectively is about having the right information at your fingertips, understanding and questioning it and acting on it. It is not about having Teflon coated underpants!

Why so many get it wrong is a subject for another day, but for now as we enter a new year – ask yourself do you REALLY understand what is happening in your business?  Or are you going to leave it to the 11th hour and then rush around trying to solve a crisis?

Let us know what you think?  Post a comment below.

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