Today the whole day was spent pretty much on financial work. I finished my financial tool – and was able to forecast out for 2010 and 2010.
Got theoretical P&L, pretty accurate cash flow. Overall, from cash flow point of view, I have no major issues for next 2 years. From P&L point of view, I’m not happy with what are are generating – but I also have a VERY good understanding of key areas to focus. COG as before is one, but other things as well.
Gained a very good understanding of Chinese VAT, and was actually able to plan out a quite smart plan on how manage this effectively. A…. actually suggested a brilliant idea. Turns out I have spend quite a bit of $ on CN VAT, which means that I can bring high 6 figures of cash into China that has already been ‘paid’ for. So, actually, it was like finding a big chunk of cash sitting there. Pretty nice surprise. So, needless to say, I’m getting quite in tune with the eb and flow of Chinese system, cash positions, etc. With that kind of intimacy comes the power to optimize. Having said this, much of my data is still derived based on forecast data, so there is a critical step that is required and that is based it all on ‘real’ world data – but I’m pretty sure I’m within 1 or 2% of reality
So, took care of money movements, salaries, transfers, etc, etc. – updated my cash flow – and basically – started to feel good, that all this crappy financial work was paying off.
Lost one guy today that we didn’t want to loose. And we got rid of a person that we wanted to get rid of. There is one thing I don’t get – if a company tells you that they need to you leave – and you refuse – its just silly. If I want you gone, I will get you out – and not with any big package. Interestingly, few times now, people that are ‘moving on’ because we have decided its best for everyone if they move on – they end up contacting me. For some reason, the perception is that it the ‘evil ‘ managers that is doing it, and that I, nor Senior management is unaware of it.
The people that I entrust the work, have had and will always have 100% of my support – they can basically do no wrong – or at least they would have to make a lot of mistakes or errors for me to not support them. So, its amazing, that some people miss the fact of how much value, trust I place in the team! Also amazing, is that they are so convinced that I don’t know what is going on. I have isolation for a good reason – and I only let certain things into my view – but I am VERY aware of what is being played, who is playing it, etc. I may not do something about it, or act – but I do know! 🙂
My trainer was sick today, so I had to change my exercise plan a bit. Started my day at 6:30AM and jump right into the financial tool without any fitness actives – thinking that we would do that at lunch. BUT, it didn’t happen – so I ended up doing an evening walk. It was great.
Now I have a few more emails to catch up on, job offer to review – and also catch an episode of The Pacific – quite a cool series.