Being — and Remaining — Financially Sound

January 14, 2018

Steve Bostian, Smart Choice® Chief Financial Officer

From the Front Line

Steve Bostian, Smart Choice's Chief Financial OfficerSo, it’s a new year, full of promise. A chance to get some things right, or at least better. A time to plan, set goals, and start fresh on some things. Right? 

Most of us have good intentions, but some of them seem to fade into the background of daily life. Why is it that sometimes when we start toward our resolution we find we’re not as resolved as we thought? Why are gyms so full in January, and the rest of the year not so much?

Maybe because there are so many things begging for our attention in this ever-changing world. Maybe because our resolution is really just a good idea, not something we have a deep desire to accomplish - a desire that will carry us through the difficulties and challenges of staying with it and getting it done. Maybe those difficulties and challenges seem overwhelming because we haven’t approached our resolution or goal the right way – one step at a time, making it a habit each day to take another step.

This issue of the Smart Choice® Magazine concerns being and remaining, financially sound. Every family, business, and agency must have such a goal (and desire). We must “be there” financially for our families. Our businesses and agencies must “be there” financially for our customers and employees.

Business models, business plans, access to markets, the right team members, and work habits are all important things, but they are for another discussion. Let’s focus on the routine of measuring where we’ve been and where we are so that we can make course corrections if we need to. It’s not the most fun thing we can do but, the peace of mind knowing we’re on track is worth something.

If we haven’t been measuring or we’re not in the habit of doing so regularly, the thought of playing catch-up can seem almost too much to attempt. If we leave it for the accountant to make sense of it once a year, we’ve missed the opportunity to make a course correction – and it may be too late.  

So, how can we be sure we will “be there”? Make it a habit each day (week, whatever) to take another step. Start with cash. The old saying is true – “Cash is king.” We must know where our cash came from and where it went. Today’s inexpensive software solutions make it easier than ever to know where we’ve been and where we are, but even the best software can’t make us take that step.

We each must decide why it’s important for us to know that we’re financially sound or if we need to change some things. Once we know why we can stick with this resolution and “be there” for the people in our personal and business lives.
 

Remaining Financially Sound in an Ever Changing World

So, it’s a new year, full of promise. A chance to get some things right, or at least better. A time to plan, set goals, and start fresh on some things. Right? This issue of the Smart Choice® Magazine concerns being and remaining, financially sound. Every family, business, and agency must have such a goal (and desire). We must “be there” financially for our families. Our businesses and agencies must “be there” financially for our customers and employees. Check out the 2018 Issue 1 of Smart Choice Magazine for insight on how to "be there."

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