About Conston Taylor
Conston Taylor is a specialized marketing expert and host of Business Innovators Radio.
He interviewed me on this classic interview for growth companies.
ERM Expert Gary W. Patterson Offers Blueprint on Taking Risk out of Operations or M&A
November 10, 2009, Chicago, Illinois – The Alliance of Merger & Acquisition Advisors® (AM&AA)) added to its Recommended Reading list Gary W. Patterson’s book, Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health www.amaaonline.com/books. Patterson is an enterprise risk management expert and sought-after speaker. In his newly released book, the author warns, “What you don’t know about your business can cost you your business, acquisition or major project.” The complete review is available at www.amaaonline.com/books.
As FiscalDoctor®, Patterson’s book contains the same practical advice and tools that he uses in his everyday practice to help companies grow while managing risk in an increasingly challenging economic environment. To this end, he helps executives identify internal problems from inventory mismanagement, outdated and incomplete financial reports, and false accounting assumptions to external forces like misreading the market, losing competitive advantage, and missing golden opportunities.
About Alliance of Merger & Acquisition Advisors
The AM&AA is the acknowledged leading association and credentialing body for Middle Market M & A Professionals. Formed in 1998 to bring together Intermediaries, Investment Bankers, CPAs, attorneys and other experienced corporate financial advisors, AM&AA’s 600+ professional services firms – including some of the most highly recognized leaders in the industry—draw upon their combined transactional expertise to better serve the needs of their middle market clients worldwide. AM&AA members represent sellers and buyers of businesses ranging from $5 to $500 million in transaction value. Their services are seller representation, buyer representation, due diligence, accounting, financing, business valuation, tax planning, legal, strategic advisory, and many other transaction services www.amaaonline.com/.
About Gary W. Patterson
Gary W. Patterson, president and CEO of FiscalDoctor®, has been a growth consultant for more than 200 companies spanning technology, supply chain and service industries. His clients include startups, Inc. 500, and middle-market companies worldwide. Patterson is a well-known speaker on ERM, corporate governance, risk analysis, leadership and the impact of renewable energy on the world economy.
His recently published book, Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health is targeted to CEOs and business leaders of companies who are managing growth while struggling with the reality of these challenging economic times. The book is available on Amazon.com. For more information on the FiscalDoctor, visit his website at www.fiscaldoctor.com. Patterson also offers a “free” fiscal fitness test at www.fiscaldoctor.com/fiscaltest.html. He can be reached at 681-319-4739.
© Gary W. Patterson
CEO, CRO & Board of Directors: Any Asset or Liability Concerns?
Asks Growth, ERM expert and Speaker Gary W Patterson, the FiscalDoctor®
International enterprise risk management (ERM) expert and speaker Gary W. Patterson’s article “LIABILITIES OR OVERSTATED ASSETS, HIDDEN IN BROAD DAYLIGHT?” is published by Risk & Compliance, a member of Financier Worldwide. http://riskandcompliancemagazine.com/liabilities-or-overstated-assets-hidden-in-broad-daylight
Articles and surveys abound on the unbelievable loss of faith in institutions across every sector. The author asks where you might either (a) make your financials a more valuable tool supporting crucial decisions or (b) be kidding yourself about your official external financial statement package?
Obtaining your insight can be as simple as answering the three following questions.
What level of risk is being taken throughout your organization that may jeopardize your company’s future?
How well do you understand the risks you or your management team are taking?
As part of the management team, how well do you understand the risks some of your subordinates are taking?
The apparently unrecorded financial million-dollar blind spot leading to the Toyota brake recall would have bankrupted most companies. Toyota will survive; your less wealthy ‘Acme Company’ may not.
Consider discussing your situation with the Gary Patterson. Clients call him their FiscalDoctor® and just as every person needs a medical doctor; every organization needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for risk assessments, enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, strategic planning updates, and strategic growth diagnostics.
These tried and tested strategies can help you help you grow profit while managing risk.
Drop me a note on how this turns out. ************************************************************************
Known as the Fiscal Doctor, Gary W. Patterson has helped 2 INC 500 companies and over 200 companies in manufacturing, technology, service, construction and distribution in companies from start-ups to Inc. 500 to Fortune 500. Gary Patterson helps you grow top line revenues, keep more of the bottom line and make life more fun. Author of Find Your Blind Spot – Before It Finds You, and Million Dollar Blind Spots. Contact Gary when you need a speaker or consultant on strategic profitable growth while removing risk at www.FiscalDoctor.com or 678-319-4739.
© Gary Patterson, the FiscalDoctor® www.FiscalDoctor.com
Downloadable word file
Which of these three questions can improve the value of your strategic plan?
• How can you improve the emphasis from crafting impressive-sounding mission statements, core values and new initiatives with scant consideration given to the company’s real financial position?
• What part of your strategic vision will benefit from a fiscal focus to allow your company to feel more comfortable that its risk strategy is realistic, prudent and even doable, rather than suddenly realizing too late that you have bet the farm for too little reward?
• Where might there be some truth to the adage that far too many financial projections show revenues starting one quarter earlier than will actually occur, and expenses starting one quarter later than will actually occur?
Learn more about my recommendations. Risk & Compliance, a member of Financier Worldwide just published my article “Change A Risky Blue-Sky Strategy Into A Fiscal Vision Worth Its Weight In Gold” http://riskandcompliancemagazine.com/change-a-risky-blue-sky-strategy-into-a-fiscal-vision-worth-its-weight-in-gold
Financier Worldwide is a leading publisher of news and analysis on the global business and finance market place. With leading products such as the monthly print publication, Financier Worldwide Magazine, the organization has become recognized as a leading source of intelligence to the business and corporate advisory community. www.financierworldwide.com
They offer free subscriptions to qualified readers for publications on Corporate Disputes, Financier Worldwide and Risk & Compliance magazines. They are distributed globally from their United Kingdom publishing base.
Consider discussing improving your sustainable profitable growth capabilities with the Gary Patterson. Clients call him their FiscalDoctor® and just as every person needs a medical doctor; every organization needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for strategic growth diagnostics, risk assessments, enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, and strategic planning updates.
Call to discuss your situation at 678-319-4739 or send a note from http://www.fiscaldoctor.com/contact-us/
Articles and surveys abound on the unbelievable loss of faith in institutions across every sector. The author asks where you might be deceiving yourself about your official external financial statement package?
Consider that accounting financial statement reserves and accruals, like reserves for bad debts, inventory accounts, and accrued liabilities, are merely guesses, sometimes manipulated for immediate organizational aims. Many of those involved in creating those best-guess reserves agree with me. Others may be disheartened when confronted with the need to truthfully face the possibility that a lack of conservatism in their company’s balance sheet prevents accurate and timely information about financial resources available, particularly in carrying out planned initiatives on which financial and professional futures rely.
When a new CEO is inclined to “write off everything including the kitchen sink,” why are reserves and accruals the first place they look? Because far too often those estimates or best guesses were far, far too optimistic, and people no longer graciously cover up for predecessors.
Before bankers, auditors, or the new “kitchen sink write-off” leader reviews your balance sheet, do a self-test by answering the following questions:
You can access the full article at http://riskandcompliancemagazine.com/liabilities-or-overstated-assets-hidden-in-broad-daylight/Please comment on why you agree or disagree with my suggestions or contact me about your unique situation or a discussion on good old fashioned over optimism or possibly puffery can lead you astray when you make crucial management decisions based on the best information available to you – in case it is partially baked or filleted. 678-319-4739 or www.fiscaldoctor.com/contact-us/ .