What you learn

As we come to the close of this year 2022, it has been a long hard year for many, health challenges, supply chain issues and the economic and social unwinding. I look forward to a new year in whatever shape it takes, I saw a post from a repeat CEO/CFO on the 100 things he had learned, well I have produced my own shorter list, arrayed below, so to all my connections I wish you a merry Christmas and a healthy and productive Newyear.

Lessons learned (really)

1. Cash trumps everything.

2. Revenue is the best source of finance.

3. It's cheaper to keep customers than find new ones.

4. Negotiate on everything; if you don't try, you don't know.

5. If you fail to plan, you are planning to fail.

6. 100% of forecasts are 99% inaccurate.

7. You have three levers - increase revenue, improve gross margins, and decrease costs.

8. No better way to understand your business than to do the accounts for one month.

9. Investors are driven by narrative and return. The first gets them in the door; the second dictates the size of the cheque.

10. Insurance exists for a reason, plan for the worst, even in the good times.

11. If you aren't chasing your debts, you won't get paid.

12. Learn enough to delegate.

13. Cash flow, balance sheet, and P&L, in that order.

14. Poor leaders say I, and strong ones say we.

15. If you don't have systems, you have chaos.

16. Bad news upfront; it’ll bite you in the butt otherwise.

17. Numbers don't lie, but people do.

18. My business can't be in good shape if my mind and body aren't.

We have survived the worst so far

Gordon