A CFO has the financial birds-eye-view to develop forward-looking strategic thinking; they understand different cash management policies to help through challenging times; they help prepare a company for both the known and unknown or unexpected financial obligations, using strategies that make sense for the circumstances. Do you launch bleeding-edge products? If so, you understand it’s… | Read the full article »
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I have learned from my years as both a CFO and a business owner that many business owners who have not worked directly with a CFO, don’t understand the value they bring to steering the company’s future. When the CEO has a difficult time determining how to spend limited dollars, for example, they may decide… | Read the full article »
I frequently see struggling businesses feel comfortable engaging a CPA to perform an audit, or use a bookkeeper to handle the financial processes of their company and provide monthly finance reports. As we delve deeper into the client’s concerns through probing questions, I often discover that neither the CEO nor the Board fully understands the… | Read the full article »
Have you ever prepared for your workout but realized you had not done laundry, so you had no clean clothes or you could not find your tennis shoes? Were you still motivated to go for the run after you did your laundry and found your shoes? Many of us would have lost interest due to the time delay. … | Read the full article »
Organizations both large and small can get frustrated with the timeliness and quality of the information they receive from financial systems. Often, snap decisions are made to purchase a new system to solve the problem. Many times old processes are transferred into the new system. The new system then doesn’t work the way it was envisioned, costing the organization time and money. All of this could… | Read the full article »
What do making your bed and pitching to potential investors have in common? According to Admiral William McRaven, in his book, Make Your Bed (available at Amazon.com), it’s the simple steps, taken each day, that achieve great results. To better link these two seemingly unrelated activities, consider this: Chief Executive and Financial Officers may feel… | Read the full article »
Last October I offered advice on finding the right investor for entrepreneurial businesses. Today I am writing about trusted advisors (the theme for March) – the investor is a special kind of trusted advisor. As with any business relationship, finding the right fit with your investor is the first step in a long and… | Read the full article »
Or – how to become an irreplaceable business partner to your CEO. Why do accounting departments exist? The accounting department can be a processing machine producing mountains of data and reports that get little to no attention OR they can serve as business partner to senior management. But how do you make that transition… | Read the full article »
Part 3 of the Equity series. The Equity series concludes with five additional key considerations for startups, as you lay the foundation for the future growth and development of your new business. Equal split of equity and decision-making with a Partner(s). For this arrangement to work, quick decisions have to be made and put in writing… | Read the full article »