IME,Inc.
211 Beaumont
Traverse City,
Michigan MI 49684
Tel: (800)
968-4637
(800) 968-4637 |
Independent Medical Evaluations, Inc.
A National Company Providing |
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Success
is in the Detail Most businesses that fail, do so slowly. Rarely does one event, one
product, one customer, or one decision bring down the house. The
majority of small businesses that wind up with padlocked doors,
slowly slipped into disaster from ignorance and neglect. Ignorance
of the working details such as profit margins, inventory turnover,
pilferage, bad debt, the loss of customers, or the effectiveness
of advertising. And neglect, by not paying attention to what is
really going on- not what the owner thinks is happening. Your
business is like a patient, it gives off symptoms of how well, or
poorly it is doing. However, solutions and answers take a little
digging. So if things are just ok, sales are not great, profits
are so-so, before you blame the market, or the economy, look
inward. Prosperous entrepreneurs live by the motto, "success
is in the detail." Do you know the inner workings of your business? Do you think
details are for duds? I hope not as management by appearance
rarely works in the long run. Yet many small business owners- turn
the details of financial management over to hired hands and a tax
accountant. Ask these hotshot entrepreneurs how much money they
made or lost last month and most can't tell you. Why? They will
tell you they do not have time to be bogged down in the books.
Besides, they have an accountant to work up the numbers –and
advise them- so they think! Many entrepreneurs are great sales types- they love the romance of
the sale, the excitement of spotting and swooping down on a new
prospect. They rise to the challenge of the close- anything less
is boredom. These gifted souls can take an idea and craft it into
a business but live on the edge of success. The bigger the
challenge the bigger the dream. I have had the experience of
working with such dynamos and it is an experience. An exhausting
one at that. These leaders are on stage day and night- no dull
moments but their Achilles heel many times flips them into
failure. And it is usually failure from ignoring the details of
their creation. These icons of flambouncy and drive can drag race but fall asleep
on the interstate. The excitement is in creating a new business or
a new product at full speed but the daily demands of managing the
enterprise become more irksome than rewarding. And so what
happens- the detail is delegated- And unless there is a crisis,
bookkeeping and financial statements have a tough time competing
for the entrepreneur's attention. Surveys of failed entrepreneurs reveal most neglected the financial
nuts and bolts ignoring the financial erosion of their businesses
hoping that the next big deal or the buying season to set things
right. As a management strategy that is much like staying too long
at the black jack table waiting for a "run" that never
seems to happen. Most successful business owners measure their success with a
scorecard of net worth. They know if last month was profitable or
not, they know how much they owe, and they know their break-even
points. These successful business owners are on top of the
performance of their business. When they have a losing month, they
do not hide from the bad news. And they don't get careless because
they had a banner month. These entrepreneurs know that most
successful businesses grow slowly, that a healthy balance sheet
comes from adding up profitable months – and absorbing the
losing ones. They know that explosive growth can contain the seeds
of destruction unless closely monitored so that inventories,
accounts receivable and liabilities do not get out of whack. If you pay attention to your income statements and balance sheets
you will greatly increase the chances of owning a business that
beat the odds of failure. Before you think I am getting a little
preachy, can you answer these questions: What was your gross
profit last month? What is your current ratio? How much money do
you owe? What percentage of your accounts receivable are over 90
days? Francis Bacon is remembered for his remark, "knowledge
is power" it certainly applies to staying in business. Your
financial statements are score cards -the score cards of your
performance.
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Independent Medical Evaluations (IME), Inc. Company Services Legal Disclosure:
Independent Medical Evaluations - IME , Inc. provides expertise in many legal and medical situations including the following: Independent Medical Evaluation, Independent Medical Exam, Independent Medical Examinations, Impartial Evaluations, Physician Panel, Permanent Partial disability Examination, Medical Fraud Investigation, Medical Discovery, Expert Witness, Expert Witnesses, Medical-Legal Experts, Legal Nurse Consultant, Depositions, Live Testimony, Legal Nurse Consulting, Tort State, Personnel Injury, Defense Exams, Legal Nurse Consultants, Plaintiff Exams, Criminal Medical, Civil Medical, No Fault / Liability, Medical Claim, Medical Consultant, Insurance Medical Claim, Workers Compensation, Impairment Evaluations, Unbiased Medical Opinion, Disability, Medical-Legal Professionals, Certified Independent Medical Examiners, American Board of Independent Medical Examiners, SEAK, American Academy of Disability Evaluating Physicians (AADEP), Work Injuries, Auto Injuries, Car Accident Claims, Family Medical Leave (FMLA), Auto No Fault, Independent Medical Opinion (IMO), Medical Review, File Review, Medical Chart Review, Peer Review, Standards of Care, Malpractice, Medical Case Discovery, Medical Investigation, Long Term / Short Term Disability, Sickness and Accident, Early Assessments, Medical Illustrations, Auto Tort, Panel IMES, DNA Testing, Biomechanical Evaluations, Fitness for Duty, Physician Panel, Discovery, IME, Medical Malpractice, Compensibility, Management, Return To Work Issues, End Point, Maximum Medical Improvement, Orthopedics, Orthopedic Surgeon, Neurologist, Neurology, Physical Medicine, PMR, Psychiatry, Psychiatric, TMJ Specialist, Chiropractic, Chiropractor, Neurosurgeon, Neuropsychologist, Neuropsychology Testing, Plastic Surgeon, Oral Surgeon, ABIME, Disability Consultants, Psychologist, Psychology, MMPI, Nationwide Medical, Employer Health, Drug Testing, NIDA Labs and more.
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