Bohemia, NY (PRWEB) November 01, 2013
Lawrence Teicher, founder of CFO Consulting Services, a leading CFO services provider, responds to an article published by CFO.com, which explains that strong stock performances do not mean companies should rest on their laurels.
According to the CFO.com article titled “Past Performance is No Guarantee,” an analysis of the S&P 500 discloses that there is little relationship between past and future financial success. Instead, most businesses go through cycles of success and underperformance. Although cycles are an established business phenomenon, businesspeople have a habit of settling during good times and overreacting during bad times.
The article explains how a CFO can help businesses that are have trouble sustaining success. “Just when strong-performing organizations become impressed by their own success, the problems seem to start,” the article says. “The CFO should make sure the management team realizes success is frail and to be successful the team must remain humble and hungry.” The article says it’s the CFO’s job to understand that success is temporary and make sure employees don’t lose their drive to improve.
Lawrence Teicher, founder of CFO Consulting Services, a leading CFO services provider, agrees that relying on past approaches that have produced success is not a good business plan. “CFOs and CEOs in particular must have a constant drive to improve their numbers. If you look at the statistics, you will notice that the companies that are able to maintain success are companies that try new strategies, even when their current one is producing results.”
Teicher believes that CFOs must play their part in helping to sustain success. “CFOs should always be reminding employees as to the fragility of success, notwithstanding their current economic circumstances. Success is hard to come by in today’s business climate and maintaining success and forward momentum is even harder. There are always macro- economic events that can derail the best strategy and competitors are always knocking on your customers doors.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.