Articles

Leadership Training - August 2026 Situation

THE LEADERSHIP TRAINING/MENTORING CORNER

In the August 2025 Newsletter, we started a series called “The Leadership/Mentoring Corner” in which we posed a thought-provoking situation for you to think about and put yourself into, asking yourself, “What are your next steps?” 

AUGUST LEADERSHIP SITUATION

George works for a service provider business that has been in operation for more than thirty years. The owner of the business knows the service that is the main source of revenue inside and out, but he is not good with operations, finance, or marketing. The owner has told George he will sell the business at some point, and he hopes that George will consider purchasing it with some potentially favorable terms. On occasion, the owner frequently lashes out at employees over small or meaningless issues, which has caused a number of good tenured employees to leave the business over the past thirty years. 

Most currently, revenue has dropped year-over-year for the last three years in a row. Expenses have remained relatively flat, but with revenues being off, profitability has reversed and turned into operating losses. The owner has become frustrated that the business is not doing better and has increased his outbursts with employees to the point a number of the key management team employees have recently left the business. George and the owner are the only employees left on the management team.

The owner has put some personal cash into the business but does not have much personal liquidity left and has openly talked about filing Chapter 11 or maybe even Chapter 7.

George has a family with a non-working spouse and two children ages 8 and 10. One child needs costly medication, so George can’t be without a family health insurance plan. 

What actions or steps should George be taking short-term and long-term?

Please provide us with a brief write-up of What should George’s next steps be? Send your write-up to Lynn Rosado at [email protected]

In our September 2026 Newsletter, a team of Silver Fox Advisors will provide responses to what they would have recommended to James that he do based on the situation detailed above.

If you need assistance in becoming a better leader, I recommend you start by contacting Silver Fox Advisors. Silver Fox Advisors are former or present business owners themselves, and they have leadership experience in running a business, and in some cases several businesses, and have dealt with unforeseen and unplanned situations throughout their careers. We encourage you to visit our website at www.silverfox.org to select a Silver Fox Advisor and also to learn more about the Silver Fox Advisors, as well as our great programs and community outreach endeavors. 

Is Your Financial Reporting Keeping Up With Your Growth?

Is Your Financial Reporting Keeping Up With Your Growth?

Jim Griffing
A Silver Fox Advisor

Growing a business is exciting. New customers, new opportunities, and increasing revenue are all signs that years of hard work are paying off.

Yet growth often creates challenges that business owners don't expect.

Many companies continue using the same accounting processes that worked when the business was smaller. At first, that may not seem like a problem. But over time, owners can find themselves spending more time questioning the numbers, worrying about cash flow, or struggling to get the financial information they need to make important decisions.

Here are three signs that your financial reporting may not be keeping pace with your growth.

1. You're Making Decisions Without Complete Financial Visibility

As businesses grow, decisions become more significant. Hiring employees, expanding operations, purchasing equipment, or pursuing new opportunities all require reliable financial information.

If financial statements arrive late, contain frequent adjustments, or don't provide meaningful insight into profitability and cash flow, it becomes difficult to move forward with confidence. Business owners shouldn't have to guess whether they can afford their next big decision.

2. Lenders, Investors, or Buyers Are Asking Questions You Can't Easily Answer

Many business owners first discover weaknesses in their financial reporting when an outside party requests information.

A lender may ask for reviewed financial statements. An investor may want greater transparency. A potential buyer may request detailed financial records during due diligence.

When these requests create stress or require significant effort to fulfill, it may be a sign that the business has outgrown its current reporting structure.

3. Accounting Issues Are Consuming Too Much of Your Time

Most business owners didn't start their company because they enjoy reconciling accounts or troubleshooting financial reports.

Your time is better spent serving customers, developing employees, and growing the business. When accounting problems become recurring distractions, they can pull attention away from the activities that drive success.

The Cost of Waiting

One of the most common mistakes business owners make is waiting until a financing opportunity, business transition, or growth initiative forces them to address financial reporting challenges.

By then, the pressure is higher, and the timeline is shorter.

Strong financial reporting does more than satisfy banks and outside stakeholders. It provides clarity. It helps business owners make decisions with confidence, identify opportunities sooner, and reduce the uncertainty that often accompanies growth.

As your business evolves, your financial reporting should evolve with it.

At Griffing & Company, we help growing businesses strengthen their financial reporting processes so owners can focus less on uncertainty and more on achieving their goals. Whether you're preparing for growth, financing, succession planning, or a future business transition, we're always happy to serve as a resource.