You can be strategic. Or you can be tactical.
If you are tactical, you think of the things that you need to get done: accounting, bookkeeping, bill paying, HR. Sure, they are important things. But they are just that:
Your business will survive if you do those things. However, companies typically don’t grow or thrive unless the leadership of those companies take a bigger picture and understand how those tactics play into a bigger strategy.
A strategy that also fits with the overall mission and objectives of the company. With that link, all of the components of the company from operations to marketing to sales function together with a common mission.
Think of it: a company that has a strong understanding of its finances means that it knows how much cash it will have to spend on R&D, marketing and can allocate for payroll and materials. The functions of the tactics can be driven by the larger strategy and give the whole enterprise a direction
For more on how to develop and implement an overall financial strategy, call or write to us. TFO Solutions is dedicated to helping entrepreneurs and business owners with their finances from the back office to the boardroom.
The TFO Team