David L. Odom

Providing CFO services and Business Transition Services in Seattle, WA and surrounding areas

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About David

David L. Odom

Kirkland, WA CFO

38 Years of Experience

Direct Contact

dodom@b2bcfo.com

office 425 765-5734

Universities:

BA - Washington State University

Certificates & Licenses:

Certified Public Accountant - 1981 - Washington

Organizations:

American Institute of Certified Public Accountants

Washington Society of CPAs

Chief Financial Officer Network

The Financial Executives Networking Group (FENG)

The Executive Network of Seattle (TENS)

The Pinnacle Forum

KIROS

Contact David Odom and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™







David’s Bio

Dave is an experienced CFO / Exit Planning Consultant with over 30 years of expertise serving small to mid-ranged companies in finance and accounting. His background includes working in public accounting, for a Fortune 100 construction company, founding and managing a CPA firm for 15 years, prior to purchasing an international brokerage company and acting as its President and CEO. Recently he served as the Executive VP and CFO for a $35 Billion real estate brokerage franchising company on the West Coast, which accounted for approximately $900 Million in commissions and $40 Million in franchise fees.

As a B2B CFO® Partner, he has provided CEOs and business owners with insights into the key metrics within their industry that measure performance, efficiency and profitability. He has the ability to quickly master the industry financial pressure points and assist to measure, monitor and improve the operations of the company in developing key performance indicators.

Serving a client base of over 100 business entities per year at his CPA practice allowed Dave to develop a broad, hands-on management style of strategic planning. His excellent communication skills have equipped him to work with owners, managers and staff to implement internal controls, software solutions and accounting systems to more timely generate accurate financial and tax reporting.

He has the ability to address the cash flow needs of the company, while maximizing the return on investment of the entity’s tangible and intangible assets. During his career in public and private industry he has established funding for operations, through credit lines, equipment loans as well as equity capital.

Dave has enjoyed serving as a speaker to business owners and on the radio covering tax topics and succession planning. His passion in working with business owners has been the culmination of preparing the business for sale and successfully transitioning the ownership, with the rewards optimized for the seller.

He seeks in both his personal and professional goals to add value to those he works with, to provide a sense of humor to the arena of finance and to sharpen his skills by hiring the best and brightest employees and associating with those who have a passion for what they do in life. As both a C-Level executive and owner of businesses for the past 25 years he is skilled at running companies and adding value to organizations.

Dave is an entrepreneurial and analytical CFO who has started and run companies as well as taken existing companies and improved the processes, procedures and profitability. His approach is to demonstrate a practical problem solving methodology while creating a team of skilled and motivated business associates in the process.

His diverse industry experience includes real estate, franchising, transportation, construction, professional services, manufacturing and distribution, online and storefront retail, wholesale and technology. As an investor he has also served as the CFO for an Internet wholesaler, assisted living operator and international brokerage company.

He is a native to Washington and received his BA in Business/Accounting from Washington State University. His career began as an accountant for a local and regional public accounting firm where he earned his CPA certification. He is a member of the American Institute of Certified Public Accountants and the Washington Society of CPAs. Dave has served on the Board of Directors for several charitable organizations in the Seattle area.

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Exit Planning

David Odom is a CPA and Partner with B2B CFO®. As an owner of multiple businesses, Certified Public Accountant, CEO and CFO to large and small businesses Dave has been involved in the purchase and sale of numerous privately held companies over the past 30 years. His experience has ranged from small retailers to larger multi-state enterprises and this range of experience along with his Exit Planning training makes Dave a great resource and entertaining speaker.

His practice is to help business owners prepare their business to have the highest value for sale as well as enjoying the company and improved cash flow and value while remaining the owner. He works with local companies of privately held and family legacy companies that have been in business for 50-60-70-100 years.

Dave helped sell his family’s business in 1984 and has continued both his practical experience, knowledge of tax laws, entity planning, and exit planning. 

Events and Presentations:

 

Book

The Exit Strategy Handbook – Using the Game Plan™

 

If you are planning on selling your business in the next few years, then you are one of many millions of business owners looking to do the same. Why do you need The Exit Strategy Handbook?  We are heading for an unprecedented Baby Boomer Tsunami which will mean that you will be selling your business in a buyer’s market. Read the book and use the dashboard system to ensure you get the most value out of your business.

Recent Articles

Jun 8David Odom

CFO = Chief Forecasting Officer

Jun 8David Odom
Forecasting

I have found in my career that one of the most common tools that are not in place for business owners is income statement, balance sheet and cash flow forecasting.  The role of the Chief Financial Officer in companies includes the duty of forecasting but in companies that don’t have an in-house CFO these duties are often neglected.  Smaller middle market companies with less than $100M in revenue often don’t have the need for a full time, in the chair

Sep 4David Odom

When is a deduction not a deduction or worse yet fraud!

Sep 4David Odom

Jerry Mills the founder and managing partner for our firm, B2B CFO© has contributed the following article entitled What to Do when the Boss is a Tax Evader, that CFO.com has recently posted online.  This is great overview of the risks to the company, employees and CFO when the owner or boss elects to treat the company checkbook as their own. Please follow this link to the article:  http://ww2.cfo.com/tax/2014/08/boss-tax-evader/  

Mar 18David Odom

“Nexus” will this connection come back to haunt you?

Mar 18David Odom

These days the word “nexus” can be confusing if you are familiar with Samsung Phones.  The topic of this article has nothing to do with cellular phones but everything about being connected wirelessly to things that are costly, very costly. “A nexus in general means a connection. The term nexus is used in tax law to describe a situation in which a business has a “nexus” or presence in a state and is thus subject to state income taxes and

Sep 28David Odom

Revisiting your Banking Relationship – Time to get back into the water

Sep 28David Odom

Needless to say that the mortgage meltdown a few years back shrunk the number of viable banks and set the table for numerous acquisitions in lieu of failures.  The backlash was that companies coming off of the impact to profits, cash flow and liquidity issues from the recession found banks were not very interested in lending money unless you had plenty of your own. Numerous businesses found that their friendly banker was either no longer friendly or no longer wished

Jan 1David Odom

Aggressive or Defensive Tax Planning….which is appropriate!

Jan 1David Odom

  This year is the 100 year anniversary (1913 – 2013) of the creation of the US Federal Income tax. There will no big parties or celebrations as what began as a limited tax on income has grown into the burdensome and complex world of funding our government’s spending. The original tax rates ranged from 1% to 7%.  If we adjust the brackets for inflation the top bracket would be applied today on income above $500,000 with a tax of

Sep 4David Odom

The Story of Two Widows

Sep 4David Odom

Over the past two weeks I have met with two widows to discuss their economic future. Within 2 days of each other men I had known recently and long term died suddenly.  The two men were both about the same age; 59 and 61.  Both men were successful in business.  Both men were passionate about their forms of recreation, love of family and enjoying life.  In fact both had significant accidents, one in his car and one on his bike. 

Jul 31David Odom

Book review – Getting Naked!

Jul 31David Odom

I just finished reading a book over a long weekend that had been recommended to me.  The author is Patrick Lencioni and the book is entitled Getting Naked.  This is about the fable of a client service approach that yields uncommon levels of trust and loyalty.  In many ways the book re-enforced the concepts of Integrity Selling as well as the way I have found that potential clients turn into clients. In my firm we start by asking questions in

May 21David Odom

Do you have enough tools? Do you have the right tools?

May 21David Odom

Brett, my business partner for the past 15 years is a DeWalt Junkie!  He has saws, drills, combo sets lights, vacuums and every imaginable product made by the DeWalt Company.  If it comes in Black and Yellow, it is sitting in his garage.  Now mind you I do have 5-6 DeWalt items on my workbench, but Brett he is truly the collector’s collector. Over the years we have had a lot of fun at his expense with practical jokes. Once

Apr 11David Odom

Isn't It Ironic

Apr 11David Odom

The food stamp program, part of the Department of Agriculture, is pleased to be distributing the greatest amount of food stamps ever. Meanwhile, the Forest Service, also part of the Department of Agriculture, asks us “please do not feed the animals” because the animals may grow dependent and not learn to take care of themselves Recently there has been a good deal of press about the state of the Social Security reserves to fund the upcoming wave of baby boomers. 

May 1David Odom

“If Mama ain’t Happy, then Nobody gonna be Happy!” – Chief Encouragement Officer Part II

May 1David Odom

In my last article I addressed the topic of the CEO of the company having a dual role as the Chief Executive Officer as well as the Chief Encouragement Officer.  The basis for this dual role is that the CEO must be a source of encouragement to the management team as well as all levels of employment.  Although in a large multinational or multi-locational company the CEO may never see the entire base of employees face to face, the need

Mar 3David Odom

Chicken Little Was Right… Social Security will be out of money by 2037!

Mar 3David Odom

Just as I turn 80 I will see that those being called Chicken Little will finally be proven accurate.  The sky will have fallen with respect to the Social Security retirement funds. As of this week new congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037. If you are planning on having the social security administration sending you checks in your retirement years it may not occur as planned. This

Mar 3David Odom

CEO = Chief Encouragement Officer

Mar 3David Odom

Part 1 – What does it take to Encourage? I noticed the title of a person who emailed me recently and although he was the CEO of the organization, he used the term Chief Encouragement Officer as his title.  It struck me that many times the Chief Executive Officer of the company does not do the things that they should do to ensure that they encourage those serving in roles that support the organization. Roget’s Thesauruses lists the following definition