Symptoms
- No regular monthly or quarterly P&Ls
- No regular Board Meetings
These are the most elementary steps to take in order to establish monitoring and control. It is the reason that I insist on instituting and holding regular fixed date monthly Board Meetings. It is the beginning of instituting monitoring and control.
Reviewing the financials every month forces them to be prepared.
Having an active agenda forces greater order on the business. You can’t gain effective time management without introducing disciplines into the business. Making Board meetings regular, significant and thoughtful will gradually improve all the other problem areas.
