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Altair Holdings, LLC. - May 1, 2013

Posted by: Jim Merski in Testimonials

 

I met with Jim shortly after he joined B2B CFO®.  I knew Jim as a professional Chief Financial Officer and a CPA.  As he explained the B2B CFO® business model, the Game Plan --  I thought there may be value for Altair.   I asked him to complete the first step of the process:  a Discovery Analysis.  At the presentation of the Discovery Analysis results, I was extremely impressed with the quality of information and the level of detail.  Jim presented both financial & operational analysis in a “current situation” versus “desired situation” gap model.  The Discovery Analysis as well the interview process underscored both operating challenges I was aware of, but also brought to light issues that I had not seen.  There was real value for Altair and for me.  I know that I can count on Jim.  He has significant expertise in accounting and financial management along with a "can-do" attitude and willingness to put in the hours needed gets the job done.

The result of the Discovery Analysis is that I have engaged Jim and he’s addressing specific initiatives for Altair.  I’ve seen an immediate “value added” from the B2B CFO® process and plan to continue to consult with Jim as “Altair’s CFO” on an on-going basis.

Chuck Peters, Managing Partner – Altair Holdings, LLC.

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CE Convergence, LLC. - Apr 24, 2013

Posted by: Jim Merski in Testimonials

CE Convergence is an emerging accounting-software technology company. CEC is relying on Jim to help with a range of CFO services including: Implementing our strategic plan; reviewing and updating cash flow and financial projections; and developing and disseminating financial & operating reporting to CEC's lender and other stakeholders. From my experiences with Jim, it is clear that he brings extensive financial expertise and a depth of business experience and practical knowledge from 30+ years in financial management in small business. He has hit the ground running and has already made a positive impact on the development of the CEC business model. 

Steve Overholt, Chief Operating Officer

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Core Competency. Outsource the rest. - Apr 1, 2013

Posted by: Randal Suttles in Articles

One of my clients provides specialty products to the military. My client designs and engineers the products. They contract out the manufacturing. Their core competency is the concept, the design and then specifying the engineering to their sub contractors. And oh, by the way, my client needs very limited investment in machines, so low leverage. A very profitable and fast growing company.

At the health insurance company where I worked, we knew that our core competency was underwriting and fast claim payment. So we did all of that internally. For other specialized industry work (actuarial, investments, legal) we maintained limited in house staff whose role was to oversee outside experts in these specialty areas. We focused on what we were good at and what was critical to our success. It worked.

Last example. One of the Firms that I have worked with over a number of years, specializes in the QuickBooks accounting system. They provide an outsourced bookkeeping/QuickBooks service to both large and small clients. There are a number of accounting systems that compete with, and provide similar financial reporting. The owner of the Firm is very clear. I asked her if her staff would handle non-QuickBooks accounting systems, if the need arose. Answer: “Absolutely not. We do QuickBooks. We do QuickBooks well. We will help them find someone who will work with their system. But we do QuickBooks. That’s all we do.” She’s right. They do QuickBooks, and well.

Stick with the core competency, outsource the rest. It works. Well.

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Testimonial For Joanie Gable - Mar 19, 2013

Posted by: Andrew Freeman in Testimonials

As our part time CFO, Joanie had the ability to make us more efficient which saved us money.  She is well liked and able to communicate from the clerical to the CEO, thus having  everyone’s trust. She will tackle any assignment as she has a vast knowledge and experience  in a multitude of differing businesses and situations.  Her ethics are “above reproach” .  She and I have forged a friendship, and business relationship  that will stand the test of time.     

                                            Peggy  Clarke
                                            President and Owner 
                                            Dunhill of South Birmingham

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BIAR Sampling Systems - Mar 6, 2013

Posted by: John M. Blackstock in Testimonials

Having John on board not only gave me confidence, but I have also seen a dramatic improvement of our processes as well as an incredible boost in our cash flow. My only regret is not having found John sooner!

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Sun Farm Network - Feb 14, 2013

Posted by: Peter Derrick in Testimonials

As a co-founder, Board member and the largest shareholder of Sun Farm Network, I have known Peter Derrick since he became our CFO in December of 2009. Throughout the period I found him to be highly knowledgeable about all matters of corporate finance, always demonstrate the very highest standards of professional behavior, and be entirely straightforward and completely honest. At SFN he faced serious difficulties due to the financial conditions in the solar energy industry and the wider economy generally. He also became enmeshed in very difficult situations within the company, stemming from irregularities that he discovered as CFO, and handled the many delicate and sensitive issues that resulted in a wholly professional manner. He maintained full support of the Board at all times. Sun Farm was threatened severely at numerous junctures and quite simply would not have survived were it not for Peter Derrick’s skills, knowledge and manner. Trusting his judgment completely, I have no hesitation in recommending Peter Derrick for any position he seeks. Richard L. Oram Chairman, Oram Foundation, Inc. Fund for the Environment and Urban Life Board Member Sun Farm Network

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Sun Farm Network - Feb 14, 2013

Posted by: Peter Derrick in Testimonials

I am proud to recommend Peter Derrick as a CFO. We hired Peter as our solar company’s CFO in 2009 and in short order he assessed our capital needs, oversaw the herculean task of bringing our books into GAAP compliance, both needed for us to obtain vital financing. We achieved breakeven cash flow in the following year. His work in dealing with our board of directors and negotiating with finance sources, customers, and vendors has been invaluable in assuring our firm’s resilience through tough waters. George Klein President and Board Member Sun Farm Network

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Does Your Banker Trust Your Financials? - Jan 21, 2013

Posted by: Steven D. Olson in Articles

 

If you were to walk into a bank to seek financing for your business, how confident would you feel when the loan officer asks to see the last three years of your business’ financials?  How quickly could you produce the financials and how much faith would you have that they accurately reflect the true condition of your business? 

Having met with numerous bankers over the course of several years, a common comment has been the poor quality of the financials of small businesses.  As I talk with business owners about the state of their business, we eventually get to the point of reviewing the financials.  Many are often almost apologetic about the quality of their financial reports as a whole but are more likely to feel most confident about the income statement.  

When pressed as to the accuracy of the amounts reflected in the various accounts and whether or not everything owned or owed by the business is contained within the balance sheet, the response is less than enthusiastic.  What most business owners do NOT realize is that the balance sheet is the foundation for the income and cash flow statements.  The income statement is a cumulative record of revenues and expenses for a period of time, the results of which is reported in a single line in the Equity section of the balance sheet.  One can take balance sheets for two different periods and build a statement of cash flows.  In my estimation the balance sheet is the most important of the statements, yet it is usually the most neglected.  Because of constraints in the length of the article, I will limit my discussion to the balance sheet. 

So, what does a business owner need to do to the make the balance sheet something in which they can have confidence and more importantly be a useful tool for managing their business?  Without giving the reader a drink with a firehose, I will provide a few high level suggestions for making the balance sheet a statement for which the owner can be proud.

Balance Sheet:  There are five main, and important, sections to the balance sheet.  The balance sheet is in balance when the total dollar amount of Assets reported is equal to the total of the Liabilities plus the Equity amounts that are reported.  

The Asset part of the balance sheet reflects what the business OWNS and is divided into two main sections - Current Assets and Fixed (or long term) Assets.  What the business OWES is the....

Read more...

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Wisconsin Early Childhood Association - Dec 18, 2012

Posted by: Rick Perrin in Testimonials

Two years ago our organization had a 60% growth in revenues. Rick helped us manage this sizable financial transition through customizing our budgeting and reporting platforms. His expertise helped us to streamline our financial management procedures and allow us to focus on what we do best: providing a continuum of services to adults who care for Wisconsin's youngest children.

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AZUL Bar Y Cantina - Dec 8, 2012

Posted by: Dan Makuch in Testimonials

Dan has been my chief financial advisor over the last 10 years. We met playing senior hockey in Pittsburgh and developed a quick friendship. Dan was working full-time as CFO for an international steel manufacturer, traveling a ton but he also found the time to help me start my business. Without his help and intuition, I would not have been able to get my restaurant concept off the ground. We developed a business plan, profit models, cash flow forecasts- things I never considered. I now have a very successful restaurant serving authentic Mexican food. I have plans for expansion into other venues and know I can count on Dan to guide me through this next phase of my business model.

Angus Peterkin, Owner

AZUL Bar Y Cantina

Sewickley, PA