Welcome to our Website!

                           

 

Patel CFO Services provides financial and management consulting services to Entrepreneurs and CEOs who do not need or cannot financially justify a full-time CFO. In doing so, we help companies increase their profitability and assist them in better managing their financial growth.

 

Entrepreneurs with smaller-sized businesses are attempting, in the current economic environment, to develop response strategies on how to deal with the impact on their businesses of the severe financial downturn. Some of the issues faced by Entrepreneurs include cash conservation, employee layoffs and morale, reduction of overhead and fixed expenses, re-alignment of variable expenses to revenues, customer and product/service rationalization, restructuring of debt and so on.

 

We thank you for visiting our site and hope that you contact us.

 

We also have a blog - C-Level Reflections - at www.bloggerravi.wordpress.com that you might want to check out. It offers management thoughts for Entrepreneurs. You can also follow us at @RaviReflections on Twitter. 

 

Please check out our new articles posted on the Articles & News tab.

 

What's New?  

 

Is Firing People Wrong?

 

There seems to be a lot of controversy in the Presidential primaries regarding Romney's much publicized out-of-context remark that he likes firing people.

                                 

Is firing people wrong? Depending on the circumstances firing a person or a group of employees might be necessary for an Entrepreneur.

                                       

A continually poor performer in any enterprise becomes a liability to the other team members and the organization. If there is no change in the employee's performance after repeated attempts to improve it, it would be wise to part company. Similarly if a third-party service provider does not consistently provide excellent service there is cause for firing that provider.

                                      

In a broader sense, for the survival of a company and a majority of its employees if a few employees have to be let go (after all other options have been exhausted), it is most often the right thing to do. As Spock used to say in Startrek, .. for the survival of the many, a few have to suffer."

                                   

Firing people for spite, revenge, uneconomic, or irrational reasons is never appropriate, but letting go of people for the right rationale is not necessarily wrong.  

 

                                

"While you strive to do things right, continually focus on Doing the Right Things"