Strategy
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How to get started?
I am looking into starting a business/management consulting business. I currently have an MBA and would like to go into business for myself. I wanted to start a bookkeeping firm, but was advised to think bigger. Any advice for a beginner on how to get this off the ground? Thanks!
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Strategic Planning During COVID-19 "Down-time"
I was talking to a client's General Manager yesterday, and he asked, "A month or two (or six) from now, what are we going to look back and think, 'We should have done *that* during the forced down-time of COVID-19 mitigation...'?" What are you taking advantage of, changing, improving, or creat…
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What resources/outlets/experts are you following or listening to for gauging the short-term and long-term economic effects of the coronavirus pandemic?
I find that many experts have divergent views about how long our economy is going to be contracting and when it will recover. Are you finding any reliable information out there?
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Interested in more Ernie Humphrey content?
I helped build the Proformative community, search my name here on the website. Anyone remember me? I am thinking about contributing content again. Here is what I have been doing in terms of content since my Proformative days; https://www.linkedin.com/in/erniehumphrey/detail/recent-activity/ Th…
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Recruitment for Accountant
Hi everyone! First off, I hope everyone's safe and well amidst the current lock-downs and otherwise that are Covid-19 virus related. I have a problem and I wish the bright people in this site can hopefully help me. Anyway, I am currently handling recruitment (no background in accounting) for …
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Hiring a foreigner/non-US citizen for few days on a work permit. What type of IRS documents have to be filled out?
If we hire a foreigner/non-US citizen for temporary work on a work permit. What type of IRS document should we fill out? 1042? W2 form? Thank you very much for your help.
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Form LLC in Wyoming and Foreign LLC in Ohio. Right way to do it? And suggestions for accounting software.
Good day. I am looking to form an LLC for sole member for a service based new business (Negotiation / Finding Deals - online, or phone) and working out of my home in Ohio. I am looking to do a startup as my company has been laying people off so trying to diversify into something else. I am looki…
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Ownership of 2 corporations with different accounting methods
In 2000, SELLER A and BUYER B went out on there own as independent lumber brokers. Each created their own corporation and together they created a partnership each owning 50%. The partnership owns the land and the building where these brokers conduct business. SELLER A’s corporation was setup usi…
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Cash Strapped Small Company
Hello all, What would be your advice to the owner of a small hardware store that has no cash, no access to credit facilities and who is owing suppliers but can't pay. The suppliers are now demanding cash in advance payments. Inventory is stagnant as he can't replenish stocks and customers …
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Setting the right OKR for cashflow management and breakeven
What key OKR can one set for a finance department looking at the company goals to achieve cash flow and breakeven
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Modern Marketing Strategies fit for a Manufacturing Company
Being in a manufacturing industry for almost 20 years, our company has maintained a strong good working relationship with our customers, whether locally and abroad. We have protected and maintained our branding and our old customers still being patronized. But due to a lot of new competitors of thi…
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New NOC Setup
We are in the process of setting up a brand new IT operations centre for our client. We already have few processes in terms of ITIL, but is there any guide you can point to, for all the required processes and documents that need to be followed.
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Putting PTO hours back
Is it legal to put PTO hours back that are used just to avoid regular pay overtime?
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Escrow Account
We (US based entity) need to open an escrow account in either Hong Kong or the UK. Is it possible to open one without physically going there? Service providers? Anyone has any experience doing so? Need to open it ASAP. Thanks
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Contract CFO legal limits?
Hi, we recently hired in a contract CFO to look at our computers to check our overhead, the way we are structured and so forth. He also has a client that is trying to get into the same industry as my business. A week after he went through my computers , the other business he works for offered my En…
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As a newly hired CFO, What should my plan be for the first year?
As a newly hired CFO, What should my first financial plan be for the first year?
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How would you organize and utilize competitor information from the internal sales team systemically
Hi, I wanted to see if anyone has had experience acquiring, organizing, and using competitor information sourced from a (internal) organization's sales team. Do you use a combination of a tech solution w/ business process, outside data provider, proprietary meetings at conferences, or actual re…
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How to prepare individual work plan/ performance management?
4 objective key competence required for Job?
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What would be the best way to hire a commission employee?
I am a smaller business. I am considering hiring someone to work for me on a commission basis. I know whenever I first started in the industry I work for commission. I am not sure the best way to approach this. Should I pay a small hourly wage, and commission on top of there? Or should I make …
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Do you use any method when you compare business tools?
Hi, I'm conducting a qualitative research on how managers choose tools. In this case, it's employee time-tracking tools. My question for anyone out there is whether you use some sort of procedure, a checklist, a sheet, just annotation...what it's exactly that you use to keep track of your insights …
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CFO Global Business Outlook Survey
Hi Proformative Community, Please participate in the quarterly CFO Global Business Outlook Survey, the world's longest-running and most comprehensive research on finance executives’ economic and business optimism, conducted in collaboration with Duke University. This survey is completely anonymou…
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What type of impact would the proposed new tax law have on your business?
I'm only talking about lowering the Corporate tax rate and the 1-time tax on foreign dollars brought back to the US. How would you spend the excess dollars that would have gone to Uncle Sam? Hire employees Give raises CAPEX Dividends Other
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Non-Profit board term limits
We are in the process of improving our by-laws. I am looking for example term limits from other organizations. Any ideas? Gerald
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