My experience over the past 16 years as CEO of Improcus Business Improvement Specialists, is that regardless of a business experiencing expectational growth or tumbling into a distressed state, the owners, directors and managers of that business are reticent to challenge their financial department. This has created what I call the BLACK BOX SYNDROME.
Too often I come across businesses which are underperforming and generally the financial function, considered the company’s “Black Box”, is not being managed or delivering the right outputs to support the business.
Business leaders do not fully engage with their finance department as it is not their core strength, and it is seen to merely service the ATO requirements. However, the finance department is a critical cog in the wheel of a business’ success and should be managed accordingly.
The pilot (head of finance) has advised the crew (management team) there is bad weather ahead, but is not sure how bumpy the ride will be, so please fasten your seat belts just in case…
It'll be too late to search for the Black Box in the wreckage of your business as the wealth will have been destroyed and regardless of what you find, your wealth will never be recovered.
So, perhaps it's time to open your business's Black Box with me (the Phantom CFO) before take-off?
Call 0417 751 775
