About Terry Frisk
Terry has over 25 years of business experience as a General Manager, Controller and Chief Financial Officer. He is a CPA whose career has been focused on small to medium size privately held companies.
A native of Idaho, Terry earned his Bachelor of Science degree from Boise State University. After graduation, he moved to West Texas and began his career in the audit department of the firm now known as KPMG, LLC. His clients were primarily in the oil and gas industry including exploration, development, production, distribution and retail sales. He returned to Idaho and joined Coopers & Lybrand (now PriceWaterhouseCoopers, LLC.). There, he continued his audit career managing engagements in the banking, agriculture, manufacturing, and not-for-profit industries.
After leaving public accounting, Terry became the Controller, and later the CFO, for a medium sized manufacturing organization. During his tenure, the company diversified both horizontally and vertically increasing sales 500% while achieving profitability every year. While managing all aspects of accounting, treasury, technology and operations, Terry achieved the following accomplishments:
- Grew the company from a regional wholesale manufacturing entity with a narrow product line to a more diverse company with wholesale, retail and Internet distribution channels throughout North America.
- Acquired and integrated a manufacturing and distribution business, which served a new market.
- Started a manufacturing subsidiary that vertically integrated products with the core business plus provided value added products to existing and new customers.
- Streamlined the billing process to speed up invoicing customers, which increased cash flow enough to eliminate the need for an operating line of credit.
- Implemented a shop floor information system that provides real time information on production flow and inventory consumption. Armed with this information, the company was able to reduce labor costs by 11% and increase inventory turns 36%.
- Advised shareholders on successful exit strategy and transitioned company from private ownership to being a subsidiary of a publicly held corporation, which involved integration of a computer system, implementation of Sarbanes-Oxley, additional reporting requirements, and changeover of employee benefit plans.
Terry’s extensive background and experience have given him the skills to assist in many different aspects of a business’s financial needs. He has helped companies manage growth, forecast cash flow, increase margins, reduce employee benefit costs without compromising key components, improve their banking relationship, and obtain favorable pricing and terms from vendors. Additional areas of expertise include:
- Strategic and long-term planning
- Tax planning and projections
- Budgeting and forecasting
- Systems implementation
- Staff training and development
- Accurate and timely financial reporting — management and external
- Efficient month-end closing procedures to ensure timely reporting
- Performance metrics
- Regulatory compliance
- Expense reduction
- Financial restructuring and downsizing
- Banking relationships and agreements
- Human resource initiatives including benefits, performance measurements, incentive compensation plans and succession planning
Terry lives in Meridian, Idaho where he has been active in his community. He served as president of Meridian Little League Baseball for two years sending an all-star team to the regional tournament in San Bernardino as the Idaho state champions. He has also served in several capacities for his church, most recently as the Chairman of the Finance Committee. He and his wife, Barbara, have been married 35 years and have two adult sons.
- Boise State University
Certificates & Licenses:
- Idaho Society of CPA’s
Articles by Terry Frisk
- Breaking Through Business Growth Barriers
- Maximizing the Cash Generated by Your Business
- Smartphones: The Modern Swiss Army Knife
- Making Cash Flow Statements an Effective Management Tool
- Isn’t it Time to Move Beyond Spreadsheets?
- Idaho Business and Technology Expo
- TED’s 20 Most Popular Talks of All Time
- BSU’s Venture College Celebrates First Anniversary
- Support Your Favorite Charity on Idaho Gives Day
- 2014 Startup: Treasure Valley Event for Entrepreneurs
- Unemployment Tax Relief for Idaho Employers
- Remembering a Visionary President
- Controlling Cash Flow to Increase Business Success
- Affordable Care Act Notification Requirement for Small Businesses
- Are Businesses Ready for Electronic Currency?
- 5 Qualities of Successful Entrepreneurs
- Sun Valley Hosts Billionaires’ Summer Camp
- Buyers’ Market for Small Businesses as Baby Boomers Retire