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Why Every Business Owner Should Have A CFO On Their Team

CFO

Many of the business owners that I come into contact with are ‘successful’ while not having a CFO (Chief Financial Officer) on their teams:

  • They are engineers, builders, medical professionals, attorneys, software developers, marketers, business coaches, etc., and are very good at what they do
  • Their businesses have ‘been in business’ for several years, often due to the owners’ hard work, sacrifice and reinvestment in the business
  • They have dedicated employees, many of whom have been with the owner/business for several years.


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Making Cash Flow Statements an Effective Management Tool

canstockphoto5671366Cash flow is the lifeblood of every business. However, most business owners do not regularly measure their cash flow other than to determine whether their cash balance is increasing or decreasing. Cash flow statements are intended to provide cash flow data, but most do not provide enough information and the format is not very user friendly reducing their effectiveness.…

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Cowboy Math – Real Time Cash Flow

Picture Of A Double Shootin' Cowboy

Every entrepreneur needs to realize he is primarily in the cash flow business.  Successful people always watch the numbers like a dog with a bone.  A problem exists today because the rules have become so complicated that the accounting world is focused on monthly and annual financial statements that follow GAAP rules where the numbers are perhaps too old and riddled with accounting adjustments that make it hard for an executive to sift through it all to get numbers he can run the company with. …

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The Three P’s of Planning

Man Drawing Out Computer Strategy

People. Product. Profit.

Those were the elements we used for the annual business planning process in the advertising agency where I spent a good many years of my career.

Whether it was because I was part of the finance organization or just the reality of being part of a large, publicly traded entity with quarterly SEC reporting, our planning meeting always ended up being more about profit than anything else. …

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Growing by Acquisition or Merger

Scattered puzzle pieces next to solved fragment

Acquisitions and mergers are not just for big companies. Emerging companies can grow faster and gain more control of their destiny by acquiring synergistic competitors and suppliers. Acquiring or merging with another company sounds complicated, but it can be easier than you think with the proper guidance and leadership.…

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