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Testimonial - Inventory Management - Jun 8, 2010

Posted by: Doug Wurmnest in Testimonials

Doug Wurmnest, our B2B CFO^® partner, has been great. He assisted us in being able to identify inventory costing issues. He resolved where inventory tracking problems were coming from in our accounting system. He offered us guidance on how to better manage our inventory, even how to turn inventory into quick cash to meet our immediate cashflow needs in the short term.  He even assisted us in the determination of the value of our business. 

We only wish we would have run across such a competent person and resource 13 years ago when we started our business.

George Bournigal, President of MESCO, LLC.

 

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Contingency Planning - May 31, 2010

Posted by: Doug Wurmnest in Articles

Many business owners are good at contingency planning in their business. They plan for disasters hitting their physical facilities, computer networks, and perhaps the departure of key people. Surprisingly, few business owners plan for the departure of the most important person in the business and the one thing that is certain– their own eventual death or disability. Generally speaking, owners have more pleasant endings in mind when they think of exiting their businesses.

 Without continuity of leadership, a business will likely fail. If ownership transition for a business is uncertain, business continuity is seriously threatened. The business owner’s death can have a significant effect upon the company’s ability to maintain its financing, relationship with its customers and vendors, its bonding status, and other key business partners.

The balance of power, particularly in a closely held business, can be very fragile. The loss of a company leader can leave a void that results in power struggles, employee turnover, managerial mistakes, lost customers, and lost profits. Even a vital and profitable company can unravel quickly when its leader is unexpectedly removed from the mix.

CFOwise |  Kenneth Kaufman |  B2B CFO® Blog