THE SPURS ARE DEAD…….. BUT ARE THEY BURIED?

This was the headline and first part of my blog on 05-11-2010…… It seems that little has changed in the last 12 months.

The million dollar question in San Antonio these days is “What is the state of the Spurs?” I guess that really should be the multi-million dollar question judging from the size of these quy’s contracts.

Professional sports are big business. It is high stakes poker at the highest level. As a businessman, I certainly don’t envy Peter Holt and staff’s current dilemma. They have invested millions of dollars over the next three years in a pair of 34+ past-their-prime superstars. They have a 6-10 point-center that hasn’t gotten a rebound in two years while making a few million. Throw in a worn out, unmotivated guard that also rakes in millions and Mr. Holt has some issues. Worse yet, the chances of getting a “difference maker” in the number 20 spot in the upcoming draft is rather remote.

Wow, what a tangled web!

That was directly from my blog of one year ago. Not much has changed. Our center would rather shoot three pointers. Our shooting forward won’t shoot. Our ace guard would rather play for France. The coach appears to be in denial. But this blog, like last year’s blog, is not about the Spurs. It is about business management. It is about managing your assets and allocating those assets in their highest and best use. It is about making the very tough choices that all managers face regarding their personnel. It is about managing the company’s financial resources in the most efficient manner.

Last year was very good for our CPA firm. Unlike the previous year, our sales were up. Better yet, our profitability was up. All of this was due to a plan that we placed in motion as the end of a poor 2009.

At the end of 2009, we reduced staff. We also graded our clients and eliminated those clients that didn’t pay their bills on a timely basis or who were undercharged. We did what we felt was best for the longer term.

At the end of 2010, we had enough cash to allow us to open an Austin office and upgrade some of our older equipment. Not too bad considering the general economy.

We analyzed our assets taking a longer term approach.As the manager, we must understand our position and the responsibility that accompanies it. Don’t forget to open the box. Good luck.

Steve Cook is managing member of Cook, Gola and Company, PLLC, a full service Certified Public Accounting firm with offices located in San Antonio and Austin. Follow us on Facebook at ez.com/CookGolaFB or Twitter at SABestCPAs or our website at www.cookgola.com