Testimonial - Northfield Trucking Company Inc. - Nov 2, 2009

Posted by: Michael Campian in Testimonials

Michael has been a trusted advisor for Northfield Trucking for over two years now.  He has assisted in putting together a system to make our jobs more profitable, put procedures in place to get accurate & timely financial statements as well as facilitated in building a new banking relationship to help grow my company.  
  I appreciate having an outside view of my business at a cost I can afford.  I would recommend Michael to any business looking for an advisor to help grow their company.  The B2B CFO business model works great!

Leigh Ann Vallimont
Northfield Trucking

Testimonial - Etc. Default Services - Aug 10, 2009

Posted by: Michael Campian in Testimonials

Michael excels at keeping his clients away from sharp objects and matches. He is accessible, personable and has the ability to deliver information in a matter-of-fact yet professional way. He is a terrific asset to all of his clients. I am happy to know him.
Greg Herman
VP of Operations
etc. Default Services

Testimonial - Frontier Distributing Inc. - Jun 12, 2009

Posted by: Michael Campian in Testimonials

Michael has been very thorough, detail orientated and cost effective as my company did not require a full time controller or CFO.  I have been more than satisfied with the results and with Michael's insight and recommendations.  He has become a valued and trusted advisor to me.

Mark Smith, President
Frontier Distributing, Inc.

Testimonial - Etc. Default Services - May 5, 2009

Posted by: Michael Campian in Testimonials

I might be out of business right now if it weren't for Mike. He has whipped our accounting system into amazing shape. In fact, he's made us more advanced and sound than any business I know of that is similar in size and revenue.

Get a basic accountant if you want to just cover the basic bases. However, if you want to really predict trends, plan for the future, gain the respect of lenders and partners, and insulate yourself from pitfalls and IRS issues, you need to work with Mike.

I've paid him a lot of money over the last year...and it's all money well spent. He's been an amazing asset to us. He's almost a part-time employee now. He's a great communicator, an expert in the CFO/Finance field, and is a man of great integrity.

Mitch Davidson, President

etc. Default Services
http://www.etcds.com/

Outsourcing CFO Services - Nov 3, 2008

Posted by: Michael Campian in Articles

Part-time CFO:  A Concept Worth Considering
By Michael Campian

Companies without a CFO are at a competitive disadvantage.  Many start-ups, small and mid-sized firms have sophisticated operations and complex cost and financial challenges like large companies, only on a smaller scale.  They need the expertise of a senior financial executive, but not full-time, nor can they afford the cost of a full-time CFO. 

All highly successful businesses have one factor in common; they require timely, accurate, and useful information.  Are your internal Financial Statements error-free?  Do you receive your Financials by the 10^th of the month?  Are you confident that you do not have employee theft of cash, time, inventory, etc?  If you are unsure of the answer to any of these questions, you need the assistance of a Chief Financial Officer.

Many companies get to a point in their business growth that requires the assistance of a high level financial professional but hiring a full-time CFO may not always make economic sense.  Outsourcing this function is an alternative to hiring another full-time employee with all of the costs that go along with employment such as payroll taxes and benefits as well as the costs for a search for a qualified person.  The benefits will far exceed the cost.

More time to spend with customers.  Entrepreneurs don't enjoy spending time with accounting and HR functions. Competitive companies must spend 110% of their time with current and future customers. It's one of those "facts of life" - someone is spending time with your customer and prospects today.  If it is not you, then it's your competition.

Better financial information for key decision making. Most closely held companies have erroneous financial statements. A business owner can't make key business decisions while relying on bad, inaccurate or incomplete data. How confident are you that your Bookkeeper/Controller understands modern accounting standards, and how to present core profitability information to help you make the right choices?

A theft deterrent. You would be shocked to see how many employees steal from employers. There is theft of money, inventory, customer lists, intellectual property and other company assets. A part-time CFO will not only establish tighter controls but their presence can help actively discourage dishonesty in company employees.

More money from the bank and from vendors. Bankers and vendors are more sophisticated than ever. They are looking for financial statements that look professional, that follow accepted accounting principles, and that easily highlight the company's key ratios. A part-time CFO can improve your company's external "image" and assist the owner with opening doors to banks and better vendor terms.

Better trained accounting staff. Turnover in accounting staff is high. A part-time CFO will mentor and train your accounting staff to do a better job by acquiring more knowledge of accounting procedures.

Better documentation and controls. Does your bookkeeper make tasks into a secret monthly ritual, being proud of being the only person who knows how to do something?  Does that make you uncomfortable? A part-time CFO will establish proper controls and best practices, and help outsource high risk, low value tasks to protect your company.

Fewer cash flow surprises. Many smaller companies exist from month to month paying vendors on the "squeaky wheel" principal. This is simply a symptom of lack of planning. Difficult cash flow issues can be reduced by planning, cash flow management and securing the financing you need to grow.

No surprises on tax payments. A part-time CFO will work directly with your regular tax CPA to give them better financial information, so that you can better utilize your CPA's skills and advise.

When considering out-sourcing a CFO look for a professional with 20+ years of experience.  In finding someone with this experience level it is highly unlikely that a problem or issue will come up that can't be resolved.  Make sure the part-time CFO is supported by a national organization that has the resources to be able to give your part-time CFO the support they need.

A CFO is a proactive professional that has a pervasive knowledge of things important for you to run your company properly.  They will have the ability to address HR issues, Sales and Marketing issues, and a host of things needed to help your company succeed.

Avoid signing contracts.  Walk away from the situation if an organization is not confident and competent enough to perform these services with a hand-shake.  Also, avoid ....

Read more...

Testimonial - Chase Bank - Oct 31, 2008

Posted by: Michael Campian in Success Stories

The loan package which was complete and received in a timely basis due to Mike's assistance, this allowed for a quick approval for the client's working capital needs.

It was a win-win situation, the bank was able to turn the request around quickly and the customer had access to their line of credit needs, this would not have been the case without Mike's help.

Barbara Dansbury                             
Chase Bank

The Unofficial Organization Chart - Oct 14, 2008

Posted by: Michael Campian in Articles

 The Unofficial Organization Chart

As the owner of a business, much of the future success you will achieve or the future pain you will feel or the results of the future exit strategy from your company will be predicated on how well you are able to manage the time of all those that work within your own organization.

Too many business owners feel they are pulled down into administrative tasks, which takes them away from the ability to grow the company and to stay ahead of the competition.

Although we have been taught that an organization chart begins with the President or Chairman and works its way down from there to Managers, Supervisors, Clerks, etc., the Unofficial Organization Chart is made up of "Finders, Minders or Grinders".  This philosophy is documented in the book The Danger Zone, Lost in the Growth Transition, by Jerry L. Mills.

If  they do not have the necessary Minders in their organization they must hire them.  By doing this Finders discover an extra 15 or 20 hours a week of finding time which will assist in the future success of the organization.

Creative Seating Innovations. Inc. - Sep 14, 2008

Posted by: Michael Campian in Testimonials

I have been working with Michael Campian for almost three years now and I consider him a great addition to my team.  He as been instrumental in securing our first line of credit with Chase Bank, made sense out of my financial records and helped us save money in areas I did not know were possible.

I think the B2B CFO model is great.  Michael came along at a time when we were in need of the services of a CFO but could not afford someone full time.  His dedication to our company has been very valuable.

Kindest Regards,

David Kasenow

Testimonial - First Advantage Mortgage LLC - Sep 14, 2008

Posted by: Michael Campian in Testimonials

We were very pleased with the advice that we got from Mike Campian regarding specific ways to steamline our entire accounts payables systems.  Mike was able to give us four specific actions that have allowed us to save time and money.  Our vendors have really appreciate the changes that we have made.

Michael Manchester
First Adantage Mortgage

Detroit Free Press June 1 2008 - Sep 12, 2008

Posted by: Michael Campian in Articles

Small firms hire contract financial execs

By Susan Tompor • Free Press Columnist • June 1, 2008

Sheri Pawlik is officially a chief financial officer for hire.

After spending 18 years crunching numbers in the auto industry, Pawlik took a buyout from Chrysler at the end of December. Most recently, she was a senior manager for financial controls for the Mopar parts division world headquarters in Center Line. Her duties included working with her team to figure out things like the gross profit margin by item, say motor oil.

Like a lot of folks in the auto industry, she spent more than a few lunch hours chatting with coworkers about a second career. What could they do next?

Like a lot of folks wondering about the next step, she started hitting the Internet, plugging in simple searches like "financial officer."

And then "B2B CFO" popped up.

"It was a direct fit to the skills I have," said Pawlik, 40, of Beverly Hills.

It's one of those quirky ideas that has been around for 21 years -- outsource the chief financial officer. But it's another idea that's gaining more traction in Michigan, as more people are bought out or lose their white-collar jobs.

B2B CFO is a network based in Phoenix that offers senior-level executive services nationwide on an as-needed basis to small and midsize businesses.

The network has 85 partners nationwide, serving about 375 companies. B2B CFO has six partners in Michigan -- five in metro Detroit and one in the Grand Rapids area.

Michael A. Campian was downsized from a job at a small automotive company three years ago. He now offers CFO services to six smaller companies in Michigan, including Northfield Trucking Co. in Taylor.

"They don't need to hire a full-time CFO if they don't need it or can't afford it," said Campian, 50.

His job is to help the business manage its cash. He's assisted one client find a new line of credit. He's based in Lake Orion and has been with B2B CFO three years.

"It's good to have an outside ear," said Leigh Ann Vallimont, owner of Northfield Trucking.

Vallimont, who has worked with Campian about a year, said Campian has helped her figure out what to bid for certain jobs and how to control costs.

Bookkeepers' backup

B2B CFO partners set their own hourly rates and can work as little as four or five hours a month for one company. Partners nationwide charge on average $175 to $225 an hour. The first visit is free.

Pawlik, who just started with B2B CFO earlier this year, has one client, a nonprofit group based out of state. Her goal is to have about eight clients.

She sees more opportunity working on her own for small businesses because she sees that as one area where Michigan can grow. She notes that bookkeepers often feel a lot of pressure and can't do everything.

"They're just happy to get a payroll paid, get a vendor paid," she said.

Jerry L. Mills, 55, who founded B2B CFO, said he expects to have about 300 partners nationwide five years from now. Partners buy into the network and negotiate those terms. Typically, Mills said the cost to join the partnership is less than 100 billable hours of time.

Mills said small to medium-size companies need to get a better handle on their cash -- and get more up-to-date and accurate information than most bookkeepers can provide.

As firms grow, it also may be harder for the bookkeeper to get a handle on how the owner is running things. So the outside CFO can help the bookkeeper control costs -- and more important manage cash.

"Cash is the lifeblood of the company," Mills said.

The outsourced CFO can provide in-house preparation of monthly financial statements, originate solutions to business problems, be a sounding board and allow the owner to spend more time on entrepreneurial activities.

"It's hard to run a business when you don't have timely or accurate information," Mills said.

Contact SUSAN TOMPOR at 313-222-8876 or stompor@freepress.com.