Social Media Mistakes can be Costly

Social Media LiesPeople just don’t get it.

This is a story of a Social Media Lie.  And if you are reading this blog entry, there mistake has cost them.  I’m sure you will have a negative impression of those companies involved in this blunder.

I received an email on Thursday, 7/6 from a guy named Ryan at Heliumsocial.com.

The first four words of the email was a lie: “I tried calling you”. I mean really, you didn’t think I’d check my voice mails? And if you called and didn’t leave a message, you didn’t call.

The company that was being pitched was Boxxeo. Hmmm, two different companies. So who actually sent the email, HelimumSocial or the CEO of Boxxeo who signed the email?

I tried calling the number listed for the CEO and got some guy who wasn’t the CEO of Boxxeo. This gentleman didn’t quite get the point that you can’t get business or start a new relationship with a lie.

Social Media Consequence

Moral – don’t do business with Heliumsocial.com or Boxxeo.com.

You’re in the C-Suite; what would you do now that the event has happened? What advice would you give both companies and how do you save your reputation?

Maybe they should have used SBA * Consulting, as we can provide outsourced Marketing advice…

Planning tips to relieve the angst

Planning Angst

Planning is not easy

SBA * Consulting is currently working with a start-up company.  The CEO and COO are actually old hands in the industry. But nevertheless, this is a start-up and we are starting from scratch.  We are planning for everything since nothing has been created.

There is no Chart of Accounts, no logo, no policies on returns, and no warehouse yet.  We have a product line, but no branding.  We haven’t decided on the office layout and the buildout hasn’t even started.

Let’s not even talk about the website and the e-commerce solution or any other part of the information technology schema.  We are a start-up.

In out project management outline, we have approximately 150 different items to discuss.  Some are “now” items; others are next month and next quarter.  However, all are important and need to be addressed. Continue reading »

Why you need to use a real accounting system

accounting systemThis is a story of a company that is currently using Excel instead of a real accounting system.

I recently was talking to a prospective client who has been in business multiple years and is doing rather nicely.  They are on the cusp of a dramatic increase in sales and as such new that they needed to bring on in some capacity a Chief Financial Officer.

Accounting System vs Excel

During the course of our wide-ranging discussion, I asked what accounting system he was using.  His answer was a little shocking in that this established, multi-year business was using Excel spreadsheets.  When I said that was really an insufficient and potentially a dangerous way to keep one’s books and records, he asked why? Continue reading »

Understanding Blockchain technology

Blockchain

Blockchain

Blockchain, what is it? The article referenced below  is probably the best simple explanation we’ve found about Blockchain. The author uses simple easy to understand language.  He also informs the reader of the real technical terms so when they go off and read other treatises they will understand them.  Lastly the graphics he uses really do emphasize the concepts.

After reading this explaination you’ll understand by Blockchain is taking the accounting and finance industries by storm.
The ultimate 3500-word guide in plain English to understand Blockchain
Written by
Hustler, Programmer, CEO at Horntell

July 2017 Newsletter – CyberSecurity

July 2017 Newsletter

To those of us who live in the good ol’ US of A, happy 241 years old, and welcome to our July Newsletter.

For our July Newsletter I wanted to talk about CyberCrime and Security.  Today there is a new way Newsletter Happy 4th of July to steal information from you, VISHING.  Read more about it further down the newsletter.

Additionally I just attended a seminar on CyberSecurity given by David P. Weber, JD, CFE.  Mr. Weber was the former Assistant Inspector General for Investigations at the U.S. Securities and Exchange Commission, and now is a Professor and Academic Director for the Fraud Management Programs at the University of Maryland Robert H Smith School of Business.

His watch words was a modification of  Ben Franklin; which is apropos since this is the July issue; that there are now three certainties of life:  Death, Taxes and being a victim of CyberTheft.

More about that later…

Sincerely,

SBA * Consulting LTD

 

Note:  Wayne Spivak, President of SBA * Consulting has been quoted in the Bloomberg BNA three times in the last six weeks:

Rule Affects Public Companies with Private Company Investments
Companies Filing IPOs Shouldn’t Underestimate Accounting Challenge
Companies Confused About Upfront Fees for Cloud Services Rule


You will be hacked!

 

You can spend the money now and both prepare for, protect yourself against, and mitigate the outcome or wait until the inevitable happens and suffer far greater consequences.

With the recent 47 state consent decree between the States and Target a new “norm” or benchmark has been created on what companies need to do to show they prepared.

Failure to show that you lived up to this “norm” will have grave consequences, from insurance companies outright refusing claims to affirmative defense by plaintiff’s when they bring suit in a court of law. And you know you will be sued! Continue reading »