Tuesday, May 24, 2016

A Mosaic of Perspectives

Ray Kroc, a one-time milkshake machine salesman from Chicago who took a flyer on a small burger operation in San Bernardino, Calif., operated by two brothers named McDonald and transformed it into one of the largest global brands in history, harbored an immovable theory on assembling a management team.

Long before the overused term “diversity” made its way into the American lexicon, Kroc was steadfast in his opinion of having different views on strategies and operations.

“If I have two executives who think alike, I don’t need one of them,” he would succinctly utter.

And considering the 60-year growth and success of the world’s largest hamburger chain, it’s rather pointless to argue with Kroc’s management mantra.

Friday, May 20, 2016

You Can’t Always “Bank” on Customer Service

I’ve always viewed the services provided by banks and CPA firms in a similar vein.

Both entities oversee your money albeit in different ways and each strives to engender long customer relationships that hopefully will, over time, include additional ministrations.

For example, a CPA who prepares a client’s 1040 may want to expand that to include financial planning. Ditto for a bank who maintains a customer’s checking or savings account and offers a favorable interest rate on a mortgage or small business loan.

But consider this unlikely scenario: A CPA raises his billing rates by double digits to a long term and low maintenance client without a rather incredible explanation or reason.

If you were that client you would be more than understandably upset and certainly within your rights to begin shopping for a new accountant.