Stephen Smith, CPA is the founder of Controllership Solutions in New Jersey. He discusses how he has created a niche and persona through the use of partnering with complementary service providers and leveraging technology. He also discusses how he finds balance between building his practice and making time for his passions, including his family.
Three Main Ideas:
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Data is a critical asset in business decision-making: Allowing enterprises to quantify risks, identify trends, and make informed strategic moves are critical in decision-making. It promotes a more objective approach to decision-making by reducing the influence of emotions and promoting precision.
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Different professionals provide different perspectives on risk: Seeking advice from a variety of sources can result in a comprehensive understanding of potential strategies, but ultimately, the decision is the entrepreneur's to make.
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Risk assessment & decision-making: Despite the different data points required for business and individual clients, the process of risk assessment and decision-making remains fundamentally the same. In both cases, it is about understanding the current status, quantifying the risks involved, and making decisions that lead to the desired outcome.
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