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Testimonial - Technology Officials LLC - Sep 3, 2010

Posted by: Danny Windsor in Testimonials

“Danny is one of the highest quality individuals you could ever hope to do business with. He is a humble man with a great sense of integrity and work ethic. I would trust him with anything.” July 8, 2009

Jeff Hood, Owner, Technology Officials, LLC.

Testimonial - H A Beasley Company Pc - Sep 3, 2010

Posted by: Danny Windsor in Testimonials

“We view Danny as a valuable extension of our service capability here at H A Beasley & Company. Danny, my staff and I work together in serving various clients where he takes a CFO role with us as outside, independent accountants. I believe the clients agree with us that Danny provides outstanding value and excellent, expert service..” August 29, 2009

H A Beasley, Owner and Managing Director, H A Beasley & Company PC

Your Company's Health And Your CFO - Dec 8, 2008

Posted by: Danny Windsor in Articles

Your Company's Health and Your CFO

In a column in Business Week, Jack and Suzy Welch were asked, "[W]hich three measurements give the best sense of a company's health?" Although measurements may vary depending on the industry, the Welchs' response was, "If you're running a business, though, whether it's a corner store or a multi-product multinational, we would say there are three key indicators that really work: employee engagement, customer satisfaction, and cash flow. They get right to the guts of a company's overall performance, now and in the future." (Welch, 2006).

In light of these three indicators, how valuable is a CFO in maintaining a company's health? Consider the following:

Employee Engagement

Employees become engaged when they understand the mission, direction, and strategic goals of the company and how these functions are vital in achieving their goals. One of the best ways to accomplish this understanding is to involve the employees in the preparation of a three to five year Business/Strategic Plan. The Chief Financial Officer often drives this planning process especially as the plan sets out the financial goals and metrics that need to be attained to move the company to its ideal future. Furthermore, the CFO helps employees envision this ideal, and assists in developing incentive rewards that are linked to the achievement of the plan. This involvement keeps employees tuned in to the day to day success and failures of the business.

Customer Satisfaction

In their response the Welchs' indicated that one of the best ways to measure and ensure happy customers is to spend time with them, making visits and asking, "What can we do better?" The only way to spend more time with customers is to spend less time "in" one's own business. Customer attention can only be accomplished when a solid company infrastructure is in place which "frees" the business owner to dedicate time to the customer. An experienced CFO can develop and oversee the necessary infrastructure (i.e. the proper computer hardware/software, employee engagement as already noted, strong internal controls and operating procedures/processes) that supports the growth of the business and gives it a solid foundation.

Cash Flow

Cash does not lie. Either a business has the cash resources to operate or it does not. There is no middle ground. The CFO implements the internal controls that not only measures cash efficiency, but maximizes the cash available to operate and grow the business. The CFO develops cash projections that enable the company to look into the future and proactively prepare for the inevitable cash shortages that will occur.

A B2B CFO is ready to work with you to maintain your company's health.

Welch, Jack and Suzy. (2006), BusinessWeek (May 8 p. 126).

Testimonial - Mcknight Insurance Group Inc. - Nov 25, 2008

Posted by: Danny Windsor in Testimonials

Regarding our work with Danny Windsor, I want to first point out how his coaching has forced me to do important things that I have put off or just would not do until they were at the crisis level; which means, no crisis, no action.

So many times, I’ve had ideas that I wanted to incorporate into our company’s benefits, marketing plan or compensation structure, but somewhere between the idea and the reality, the wheels just seemed to fall off and nothing would ever get done.

I appreciate Danny and the value he brings to our organization.

My expectation is that we will make many ongoing changes to our Five Year Business Plan in the coming months and years. I also have confidence that, with Danny’s assistance, the wheels will NOT fall off of this endeavor!

Edwin McKnight, President

McKnight Insurance Group, Inc.

Articles - Sep 15, 2008

Posted by: Danny Windsor in Articles

Concerning a rapidly growing business, Peter Drucker once stated, "the lack of adequate financial focus around the right financial policies is the greatest threat to the new venture in the next stage of its growth. It is, above all, a threat to the rapidly growing new venture" (Drucker, 2004, emp.added).

Why did Drucker issue this warning? After all, a rapidly growing business is generally a sign of success and results from efficiency in a number of areas such as:

Enthusiastic, visionary, leadership
Recognition of and successful action plans implemented to penetrate the target market
A well trained, energetic, and motivated sales force
A product or service that meets and exceeds customer expectations

Although these are all signs of success, Drucker knew that a lack of attention to key financial policies would result in a collapse. Drucker stated, "the causes are always the same: lack of cash, inability to raise the capital needed for expansion; and loss of control; with expenses, inventories, and receivables in disarray" (Drucker, 2004). Jerry Mills put it this way; "most business owners assume that as sales increase, cash will increase accordingly. This is an illusion. The opposite is usually the case-as sales increases, cash decreases. The competition for your cash will be fierce and extreme. The attack on your cash will become frequent and constant" (Mills, 2007, emp.added).

If you have, or are on the verge of having a rapidly growing business, begin now to build the infrastructure that will support your growth projections, particularly as it relates to cash. Make the following controls and measurements a priority in your company and take corrective action when necessary.

Timely and accurate internal financial statements reviewed monthly
Monthly measurements of key financial indicators
Twelve month rolling cash flow projections
A well thought out and planned annual budget that results from the strategic plan
Solid internal controls and processes in place particularly in the areas of accounts receivable, inventories, and accounts payable to maximize cash efficiency.

The rapidly growing business is a time of excitement and great anticipation for the future. Keep the business safe and secure by building a solid infrastructure early in the growth stage.

________________________________________________________________________

Drucker, Peter F. (2004), The Daily Drucker (New York: NY: HarperCollins Publishers).

Mills, Jerry L. (2007), Avoiding The Danger Zone, Business Illusions.

Testimonial - 87 - Sep 13, 2008

Posted by: Danny Windsor in Testimonials

I have worked with Danny Windsor for over ten years and during our association, I have found him to be solution oriented, strongly committed to ensuring each task is thoroughly resolved and most importantly, an individual of high integrity.

B. J. Del Duca, President

Nokian Tyres Inc.