Small Business Reach Your Business Potential Part Time CFO - Mar 1, 2011
Posted by: Rob Frasier in Articles
In my twenty plus years of experience, seven as a partner in B2B CFO, I have noticed that many small business owners are confused when it comes down to choosing what type of financial help is best for their company - a bookkeeper, accountant, CFO, etc. The best answer for most small to mid-sized companies is a part time CFO (surprise, surprise). Companies can benefit from all the experience of a CFO, without the added cost and commitment of hiring a full-time senior staff. They work with a company on an affordable, as-need basis; using a variety of financial planning tools to help map out your company's future. There are many benefits to hiring a part time CFO, such as:
1. Many are seasoned professionals with at least 20 yrs of experience in accounting and finance. They have overcome and learned from numerous challenges, have already experienced most problems your company faces and know how to help you run your business successfully. With a part time CFO, plans and strategies can also be tested in financial models before you risk implementing them in your company.
2. They work as a member of your team to help you reach your company's financial goals. They provide financial management at a significantly lower cost than hiring an in-house senior staff and should be seen not as an additional cost, but as a way to boost profits.
3. By creating accurate financial statements, a part time CFO empowers business owners to control the direction their company is going and helps them achieve goals. By clarifying and enhancing your financial situation you will be able to see exactly where you are now and decide on future steps needed. You'll be able to move forward confidently in the direction you want with a strong foundation under you, and anticipate company needs before future events occur.
4. Having accurate financial statements is critical when trying to obtain necessary cash from banks or other financial institutions. A part time CFO can help create financial statements that will help you feel more confident in your control over your business. When a lender sees the owner knows exactly what is happening, they will have conf....
Posted by: Rob Frasier in Articles During my last coaching session, I had discussed with my business coach how being a partner in B2B CFO was a great job: #1 You enjoy a flexible schedule. #2 You have the feeling of helping people #3 You get paid well #4 You get to meet and know very interesting people. One of the things I like the most about being a partner in B2B CFO is the opportunity to develop great relationships. On the other hand, the thing I hate the most about my job is when people do not listen, especially when it comes to their bankers. I truly believe that clients need to get to know their banker personally and work together for the long term. While he will be in a better position to explain things and provide you with solid financial advice, you will also be in a better position to understand what he is doing and getting a better grip over your personal finances. Another advantage? Who do you think is gets better service? The guy calling for a rate and doesn’t want to hear about any strategies and doesn’t care about the relationship with the banker or the guy that makes an appointment and explains his whole situation to his banker? I’ll let you guess… In order to develop a great relationship with your banker, here are a few good tips: #1 Pick the right one Dealing with money is dealing with a person first. So you need to find someone who understands you and that you feel comfortable with. Since he needs to be one of your closest confidents (financially), I think it is only normal to meet with a few bankers before making your decision. #2 Choose him for the right reasons While personality is very important, you should also look for a banker with an impeccable sense of integrity and professionalism. You want someone who will take your calls and get back to you within the very same day. Drop anyone who can’t do that. Financial background or diplomas are important too. While they are not a guarantee of competency, it is still better than nothing. #3 Work with him Some people go see their banker and think that hiding things is a good idea. They think that he won’t find out or that it will slow down their application. In fact, if you don’t work with your banker, you are just making his job harder… and getting something approved harder to get too! #4 Talk numbers – learn his language Bankers evolve in a world of numbers and ratios. While he must teach you how it works in a bank (how we calculate stuff, understand your investment statements, etc.), you should also answer his requests with your numbers. Bring statements with you, it will help to establish a greater strategy with real numbers. #5 Meet him twice a year You probably see your mechanic a few times per year for oil changes and car maintenance, you should see your doctor and dentist for an annual check-up. This is the same thing for your banker. Twice a year is just enough to keep track of your plan and financial goals. You can take the time to review your financial situation and if there are any better products to improve your balance sheet. Developing a relationship with your banker is a really good financial move as you will now be part of his priority when there is important news that comes ou....
Posted by: Rob Frasier in Articles For most small business owners, their attorney, banker, and accountant represent their three most important professional relationships. An owner’s partnerships with these advisors are crucial to the ongoing success of any small business enterprise. This makes it critical that they communicate openly. One common area of misunderstanding has to do with the owner’s expectation of service levels provided by their advisors. This is especially common in the realm of accounting services. Accountants can provide an extremely wide range of value-added financial services to their small business clients, but owners need to be clear in describing which specific services they expect to receive from their accounting firm. Accountants can provide four primary levels of service: · Tax return preparation: This is the most basic level of service an accountant can provide. It usually includes help in estimating quarterly tax payments in addition to preparing and filing annual business tax returns. This level of service is often adequate for self-employed individuals and micro businesses; however, it’s a good idea to at least talk to your accountant about the potential benefits that might come with receiving more detailed and comprehensive financial and accounting services. · Compilation: This level of service is more involved than simple tax-return preparation. With a compilation, the accountant takes financial information supplied by the business and puts it into financial statement format. However, no analysis or explanation of the data is provided, nor is any assurance of the data’s accuracy. The accountant is simply plugging client-supplied information into the right format so it can be properly viewed by financial professionals, including lenders and investors. · Review: With a review, the accountant provides a limited degree of assurance that the financial statements he or she compiles from the client-supplied data comply with generally accepted accounting principles, or GAAP, without having to make any material changes. The accountant will make specific inquiries about the financial statements, as well as apply certain analytical procedures to test assumptions made by management and uncover any items that appear out of the ordinary. · Audit: An audit is the most detailed and comprehensive level of accounting services available. Unlike with a review, the accountant will express his or her opinion about whether the financial statements are fre....
Posted by: Rob Frasier in Articles Many companies of all sizes need the services of a CFO but they may only need these services periodically, like once a month, quarter or year. A good CFO will expect a salary from $150k to $250k annually, plus benefits. The total cost to hire a CFO can easily reach $300,000 per year. While this investment can be justified for business with annual sales in excess of approximately $70 Million; for businesses smaller than this it may make more sense hire a Part Time CFO or CFO For Hire. A smaller company cannot fully utilize the skills or abilities of many CFO’s and unless the employer is willing to delegate other operational responsibilities, the employee may become bored and look for employment elsewhere. This will lead to the costly and time intensive process of finding a new CFO, which may ultimately lead to the same conclusion. A good CFO is an expert not only in financial matters but also in the strategic management of a company, your CFO should be included and consulted with regard to any major strategic decision of your business. A CFO For Hire is well equipped to participate in these decisions as well, as they will be familiar with your particular situation and should have a good understanding of the industry in which you operate. A CFO for hire can be helpful in preparing annual operating budgets, periodic financial reports, establishing cost accounting systems, establishing management and financial controls. They will also provide analysis with regard to costing and evaluating purchases of equipment and many other business decisions. A CFO For Hire can also bring many other contacts and resources which will typically include relationships with banks, insurance companies, attorneys and many other professional resources which may be of use to your business. There are many benefits of hiring a CFO For Hire as opposed to a full time CFO, these include greater control over cost, valuable contacts and high caliber professional service. Posted by: Rob Frasier in Articles Most entrepreneurs want to use other people's money to start or grow their business. If you have good personal credit, borrowing is almost always the best way to go: rates are low, community lenders are eager to create jobs, and there are a growing number of government programs like the SBA loan guarantees. Still, actually closing a loan can be difficult. Banks expect a business plan, financial forecasts to justify the loan amount, and even your home as collateral. The prepared entrepreneur, however, knows the secrets to winning the respect of the bank, and the loan of your dreams. These lending secrets make borrowing easier and will give you an edge when negotiating with any lender: the kind of edge that can save you thousands in the long run. Here's what you should know to keep your edge when negotiating with bankers 1. Build a Personal Relationship It's true that people do business with people they know. It's no less so in banking - bankers lend money to people they know and trust. The best loan negotiation starts when you begin building a strong personal relationship with a banker. Long before you put in a loan application, invite a banker to lunch. Give them a look at your current business, your home, your life. Gently let them know how serious you are about building the business of your dreams. Plan to stay in touch with your banker(s) at least once a month. Since most loans will have terms beyond repayment (called loan covenants), you want your banker to know what is going on in your business and how you are using (or planning to use) his money. 2. Know the Secret Code Every banker will tell you that approving a business loan depends on how well your company compares to other similar businesses. The bank looks primarily at your financial operating results. Be sure you check out the banker's bible for these business metrics: Robert Morris Associates' Annual Statement Studies, or "RMA" for short. The RMA includes example operating results from more than 360 industries and can tell you what your banker expects to see on your financial statement or plan. The RMA is available at your local library or bank - asking the banker to make a copy of the appropriate page is a great way to show them that you know what you're talking about. Meeting key ratios from the RMA should be your goal as you qualify for, and keep, a business loan. 3. Give More Than You Get This rule is simple: If you want to get a great loan, it never hurts to offer to open several other accounts at the same bank. Bankers love to have your "depository accounts" (checking and savings) and to help you with other fee generating services like credit cards and wire transfers. If you are only interested in the bank for the money it can lend, you're not going to ....
Posted by: Rob Frasier in Articles Right Here, Right Now! Many good companies are struggling with the economy and are waiting things out. They have cut back costs as far as possible but are at a loss on how to increase sales and profits. Here are steps you should be taking now to REV up sales and profitability: 1. Understand your real profitability drivers. Do you really understand why you made (or lost) money last month? It is a combination of revenue levels, fixed and variable expenses, and some low and high margin customers and jobs. If the only data point you have to explain your profitability is a long PNL report of revenue and expense items, you don't really understand your profitability and can't take necessary actions to drive improvement. You must know your margins by individual product (or service), product line and customer, and understand your other profit drivers. 2. Re-calculate all of your overhead rates. In the past year, you have undoubtedly trimmed many costs and your other input costs have changed. Your overhead base (machine hours, consulting hours, service hours, etc.) have also probably dropped. Lower costs mean lower overhead rates. Lower base hours mean higher overhead rates. If you haven't developed overhead rates to really understand the true cost of individual products or services, now is the time. You might be surprised that you can actually sell at lower prices now and pick up sales volume. Or, you could find that you are losing money with each sale because your costs have not come down in proportion to your "production hours". Note this applies to service firms as well as manufacturers. (Service firms: do you know your hourly cost rates for direct, administrative, and overhead costs?). 3. Negotiate hard with your vendors. Show your vendors how this can actually be good for them. If you can lower your costs and drive more sales, both you and your vendors will benefit. If your vendor won't play ball, others certainly may. 4. Review your quoting model. Does it include your new, lower overhead rates and purchase costs? Does it show you your true cost of delivering your product or service? Does it show you the true effect on your company of winning the business? Your quoting model should break out incremental costs and show ....
Posted by: Rob Frasier in Articles Large companies employ top executives in sales, operations and finance. They provide the strategies and management expertise required to bring in customers, competitively produce the firm's products or services and provide the financial management and planning required to maximize the firm's profitability and growth. Small and mid-market companies also employ top sales and operations executives, but not financial executives. The majority of these companies have bookkeepers or controllers who process financial transactions and generate financial reports, but they cannot provide the financial strategies or offer the level of financial sophistication, problem solving and strategic financial management the companies need to maximize profitability and growth. Companies without a CFO are at a disadvantage. Many small and mid-market firms have sophisticated operations and complex cost and financial challenges like large companies. They need the expertise of a senior financial executive, but not full time, nor can they afford the cost of a full time CFO. These firms often seek financial advice from their CPA firms who provide tax, reporting and general financial guidance, but do not have the corporate experience and specialized skills that CFO's excel in. B2B CFO® provides CFO services on an affordable, part time or as needed basis and is the largest CFO firm in the U.S. focusing on small and mid-market companies. With over 115 partners in 43 states, B2B CFO® provides small and mid-market companies with the financial management they need to prosper. What are the benefits B2B CFO's bring to small and mid-market companies? Cash, profitability and growth: CASH AND PROFITABILITY · Timely & Accurate Financial Statements · Banking and Lending Relationships Posted by: Rob Frasier in Testimonials Rob has worked with me at two separate companies over the years when I was CEO. I always felt assured that the finances and operations were in good hands when he is involved. It's a great feeling knowing you are working with someone you can trust and who will get the job done. Bill Maya, CEO Advanced Spine / Solana Medspa's, Inc. Posted by: Rob Frasier in Testimonials Rob has been a great asset to our organization over the years. He helped us put together a good management team as well as keeping us focused on the financial picture. He worked with us during a critical time when the economy took a down turn and helped us put together a plan. The part-time CFO Service arrangement was ideal as we were too small to afford a full-time CFO. Robert Veyna, President, Orange County Nursery, Inc. Posted by: Rob Frasier in Testimonials We needed financial assistance and someone who had experience working in an entrepreneurial spirited family business. Our company is very diversified with multiple locations and we did not have timely and accurate financial reporting or a budgeting process to make proper business decisions. Rob was able to put his arms around the situation my hiring a qualified accounting manager and working with management in obtaining our financial goals...something that was not easy in a downward economy and highly competitive market. Rick Dominge, General Manager, Orange County Nursery, Inc. Posted by: Rob Frasier in Testimonials Bob Sands, CEO, Bordier's, Inc. Posted by: Rob Frasier in Articles Many companies have made operational changes during the recent down turn in the economy. If you are one of the ones who have not, your company may need to make some quick and aggressive changes. When doing so you will need to consider the business risks in addition to the immediate financial gains. For example, by eliminating certain jobs or products you may be taking out critical components of your business not realized until after the fact: short-term gain, long-term disaster. This could make your company vulnerable in the future. This holds true for the delay of critical capital improvements and inventory levels in your business as well. When times get really tough, making expense reductions alone will not be enough. So when looking at cuts and expense reductions, one will need to look for opportunities in operational processes and products to make the necessary financial improvements. This means deeper changes to operations and products or eliminations of branches/divisions may be in order. An Operations Review. An operations review focuses on the strengths, weaknesses, opportunities and threats within the organization (SWAT analysis). Often, someone with operational and financial experience from outside the company will be contracted to review the operations and financial affairs of the business. This review provides insight into how a company operates and how well it is prepared to deal with the changing market and diminishing cash flow. The operations review helps companies make critical decisions. It also assists the company in taking a methodical "proactive" approach opposed to being reactive in dealing with short and long-term cash challenges. The review will also help identify key revenues, personnel and expenses. As a result, you will gain a better understanding of the key components of your business to keep the company operating at minimal levels. By identifying these key elements, you will be able to make intelligent decisions during difficult times. The operations review will also evaluate the type of financial information you are receiving. It can determine if the key operating reports being generated (if they are being generated) are accurate and sufficient to monitor the business. Knowing that you have the right reports gives the confidence you are making fundamentally good business decisions. Another benefit of an operations review is that it will identify areas of risk within the company. A company usually has a certain risk level during good times. However, in an economic downturn this risk level is likely to be magnified. An operational review will help you identify these risks. Additionally, the review will further mold and validate the company's business plans and financial projections...the road map to success. During this process, it will shed light on where changes need to be made to improve profitability and save money. It will also look at back-up plans in the event that the changes do not work out. A proactive vs. reactive approach. A "realistic" financial model will need to be developed and modified to reflect the operational changes required. Often the numbers do not always work out or additional changes are required so it may take many variations to get to where you need to be. Plans and market conditions always change so it is good to have the model at arm's length. Caution! The operations review is driven to maintain or generate additional profits or to fix an unprofitable business. Accordingly, the company will need to continue to produce timely and accurate financial statements and key operating reports-often more reports will be required. It is imperative to have the proper accounting staff and an experienced CFO, regardless of the business's size, to accomplish this. Often in difficult times the accounting department is trimmed down so far that getting good data on time is impossible. When a company is in a tailspin and terminates accounting personnel the spin will only accelerate. What can the CEO do today? Get started now! Make sure you have a good management team in place and they are all on board with changes. You will need everyone's ideas and support to make changes. Make sure your CFO or controller has the experience to get you to your goal. If necessary, seek outside help even if it is for a short period of time. It is always good to run your ideas by someone who has experienced this before. Make sure you have a clear understanding of your goals and have a realistic financial projection that can be monitored monthly. Make changes to your plans as necessary. Have a set of key performance indicators you can review daily and weekly so you can make adjustments along the way. When evaluating your operations, ask yourself what you "really" need vs. what you "want" to operate .... Posted by: Rob Frasier in Testimonials I have been in the nursery industry for over 40 years and have referred Rob to several companies over the years. Rob does great work and guides companies in the right direction. I would recommend Rob to any mid-sized company who is looking for a seasoned part-time chief financial officer. William C. Rowe, Owner, WCR Consulting Posted by: Rob Frasier in Articles Now could not be a better time for business planning. Sales are all over the map and who can predict what they will be next month? This is the reason to have a business plan supported with monthly financial projections. There is not a better way to stay on top of your business as the business climate changes. It is called being "proactive" rather than reactive. I have worked with dozens of companies over the years and the ones that are no longer around or have experienced cash flow problems did not stick to these two fundamentals (planning and projecting). Why didn't they plan? Why do so many companies avoid it? Here are a few of the top unscientific reasons companies do not. Other companies do not have one: Many successful business owners do not have a formal plan because they are caught up in myths of business planning, have not been exposed to the process or think it is too complicated. However, realizing it or not, they are practicing many of the components of planning by prioritizing, setting goals, tracking specific plans, delegating assignments, projecting sales and expenses, and tracking to budgets. Planning is a great tool to manage your business by and it cannot be overlooked. Planning will minimize risks and unknowns. It will build systems where you can track goals, hold people accountable, and it will bring the management team together, not to mention you will create teamwork. It is a great way to get input and buy-in toward company objectives too. Do not refuse to plan because you do not think your business needs a complicated and formal plan. It is hard too hard to do...it takes too much time: The top myth in business planning is that the plan has to be a formal and complicated document with narratives, market analysis, flow charts and graphs. Little did they know, a good business plan does not need to contain it all. A good business plan will contain as much information a company thinks it needs to operate the business successfully. Formal business plans are generally used for raising outside capital or applying for loans with the bank. What we are saying here is companies need a plan to run their business. This plan will need to be constantly reviewed, tracked and changed by management. However, this does not mean you can take short cuts by ignoring the industry and the market leaders. The best plans are plans that work for you. This is what your business needs to do to be successful. For some companies, it may only be sales forecasting and tracking. For other companies it is as easy as a making a list of key strategic plans. However, for most companies, it includes these items plus a detailed expense budget including key assumptions the company can track. Plans change and you cannot change them: The reason for having a plan is to monitor and track your progress. A company needs to know what was done right and wrong. It needs to review the differences between "plan and actual" to manage the plan more effectively. The most important aspect of your plan is to write down your assumptions so you can compare them monthly. Changing your plan, your assumptions and projections is alright. The industry will change and customers have different plans as well. The beauty of having a plan is that you will know the future of the business and what you need to do to get there. If you do not have a plan in place you will not know what changes to make or how those changes will create profits and cash. Only start-ups use business plans: Having goals, prioritizing, monitoring progress, and holding people accountable is for all companies. Businesses trying to obtain bank loans or trying to attract savvy investors need the detailed plan. However, every business needs to plan. Do not deny your company the benefits planning provides. Develop a business plan! Monitor the plan! Change the plan! Planning and financial forecasting is a fundamental component of management and a successful business. Posted by: Rob Frasier in Articles How does a company monitor and measure its financial goals and performance? Generally the answer to this question is through its financial statements. However, monthly financial statements are not enough once your business becomes large in size. There is too much going on within the business that impacts cash and will need to be tracked and watched. Hence, the use of key operating indicators. Over the years we have learned that companies that do not use them are generally in trouble. What is a key operating indicator? A key operating indicator (KOI) is a measurement that allows you to evaluate whether you are meeting certain goals or criteria. KOIs should be the key factors that will ensure the success of your company. These numbers will be compared to budgets and/or industry standards. How do you pick key operating indicators? Key operating indicators will be different for the most part from company to company. Usually KOIs revolve around company goals and plans. Examples of KOIs would be daily production units, scrap units, units sold, inventory turns, day sales outstanding, etc. KOIs should be specific, measurable, timely, and easy to read and understand. How can KOIs be used to improve efficiency? KOIs are used in many companies to evaluate and improve efficiency, which will ultimately generate more cash and profits. The nursery industry for example uses KOIs to monitor crop production. How long will it take to make containers of plants? How much material was used to make a container? The nursery industry knows what needs to be accomplished to meet its goals and it has identified metrics to make sure it happens. When should a company monitor KOIs? The urgency and magnitude of the metrics will determine how often you look at indicators. Some KOIs will need to be reviewed daily and others weekly. If your business is strapped for cash and you have pressure from your lenders or investors, you will need to look at them more frequently. It is never a bad idea to have a daily report to scan that shows you where you are, i.e., A/R, sales, cash, A/P, inventory dollars on hand, production statistics. Who generates key operating reports? Generally information is sent to a designated person in accounting who compiles and reviews the data for reasonableness before being distributed. However, it can be done by various individuals as long as the information is done timely and accurately. How long do we keep key operating indicators? There is no set time frame to keep KOIs. However, the longer the better, as they will provide historical trends to go back and refer to. It will also be helpful to look at a KOI when there has been a change in the business operations or processes. It is nice to go back and see if the changes being made had a positive or negative impact. Do small companies need KOIs? All companies need KOIs. While they may not have as many, it is critical for early stage companies to monitor their progress. Cash, payroll, inventory are some of the standard ones small companies need to watch. Especially cash! Should KOIs be changed? It is a good idea to review KOIs on an annual basis. However, if there is something new to be added or if a KOI that does not make sense then make the change as deemed necessary. Remember, the purpose is to use KOIs as a management tool. They need to be relevant and useful to monitor and obtain certain goals. They must be looked at by management and more importantly, action must be done if a KOI is out of balance. Posted by: Rob Frasier in Articles Cash flow problems kill businesses! According to a recent bank survey, approximately 80% of business failures were due to cash management issues. To avoid becoming another number in this statistic, here are 10 cash flow rules to follow: 1. Net income does not equal cash flow. You cannot determine your cash flow and run your business using the income statement alone. Customers do not pay COD, your investment in inventory maybe going up, you have loan payments and purchase equipment, and there is other accounting jargon going on, i.e., write-offs, adjustments to inventory, depreciation, etc., You will need to use the statement of cash flow to determine your cash flow. More on that later. 2. Do not manage cash from your gut. Do not try to do it on the back of an envelope or in your head. Worse yet, do not manage the business based on how much cash is in the bank this morning; this is not an indication of the future. Today's revenues do not equal cash and today's expenditures do not mean you have to pay the bill. 3. Growth consumes cash. Have you ever heard the following or something like it? "We had a record sales month and we have never had so many employees, but we can not meet payroll." Every business wants to grow. However, one must be careful because growth consumes cash. It is a matter of working capital (accounts receivable, inventory and accounts payable). The faster you grow, the more cash and/or financing you need. 4. Inventory consumes cash. You have to purchase or build product before you can sell it. Even if you do not sell it, your vendors will want to be paid. Remember that every dollar in inventory is a dollar you will not have in cash. 5. Manage working capital. Working capital is accounting terminology that subtracts current assets from current liabilities. It is the change in accounts receivable, inventory, accounts payable, short-term debt and lines of credit in a short period of time. Never let working capital get negative. Monitor receivables, inventory and accounts payable weekly. If not, you will lose control. 6. Do not surprise the bank. Do not hide from your bankers. If growth is in your future or you know you will have a short-term cash crunch, prepare a good plan with supporting projections and show it to the bank. The sooner the better. This is not the time to show off "pie in the sky" numbers either. Be realistic. 7. Key operating indicators. Every business has a handful of key operating indicators unique to that business. However, these must be monitored regularly as they have a high impact on cash. 8. Statement of cash flows. This financial statement is rarely used and understood by many business owners and CEOs. Unfortunately, it is the best financial statement of the bunch. It deciphers net income (not cash) and changes in balance sheet (accounts receivable, inventory, accounts payable, loans) to tell you where your cash came from, where it went and how much is left. Study it! Understand it! If your accounting department can not generate one, find someone who can. 9. Projections. If you are downsizing due to the economy or experiencing growth, it is imperative you have a twelve-monthly rolling projection. This is not limited to the income statement alone. You will need to do this for the balance sheet and statement of cash flow as well. Here, key cash consuming items like inventory, receivables and debt will need to be projected. These items are often the hidden cash consuming factors that are overlooked creating cash flow problems. 10. Weekly cash flow. If cash is tight then you will need to prepare a detailed 13-week cash flow projection. This will include cash collections estimated from your receivables department as well as a detail list of vendor payments. Stick to it. Do not spend more then you collect. If necessary, arrange payment plans with vendors to get through the crisis. You'll be surprised that vendors will work with you when you open communications. Posted by: Rob Frasier in Articles 1. Do you receive timely and accurate financial statements that you and your banker actually trust? 2. Do you understand how much cash you will need or why your business suffers cash shortfalls? 3. Does your banking relationship provide adequate financing to meet your company's cash needs? 4. Do you currently receive regular projections of your company's cash flow? 5. Do you receive key operating reports so you can monitor your business & make informed decisions? 6. Do you have the ability to make projections under various scenarios (what if)? 7. Do you know what the ROI in new equipment is or what an acquisition of another company might yield? 8. Do you or your management team look strategically at your business and perform a SWOT analysis? 9. Do you have a viable exit strategy that will maximize the value of your business upon its sale? 10. Do you stay awake at night worrying about your business? Although this is not an inclusive list, if you answered "no" to any number of the questions above you may be in need of a B2BCFO. Schedule an appointment to discuss what CFO services we can provide to help your company improve its profitability, its cash flow, and its long-term value. Our Phase I Diagnosis is free. Posted by: Rob Frasier in Testimonials Fred Rogers, CEO, SUTI, Inc. Posted by: Rob Frasier in Testimonials We found Rob though the B2BCFO website. We needed help with our banking relations, financial reporting and evaluation of our accounting staff. Utilizing his experience Rob jumped right in and got the job done. Robert Groot, President, El Modeno, Inc. Posted by: Rob Frasier in Testimonials Dean Chase, President, Nytech Corporation Posted by: Rob Frasier in Testimonials I wish I would have found Rob years ago. Where have you been all my life? I would have had fewer problems and more cash if we would have met sooner. John Howerton, Owner, Howerton, Inc. Posted by: Rob Frasier in Testimonials Our company grew so fast we could not keep up with the financial side of the business. Rob came in and hired the appropriate personnel and put the necessary systems in place to manage the business. We could have used Rob's budgeting and financial planning skills much sooner saving us money and expediting bank loans. Todd Sobol, Owner, Thermal Flex, Inc.
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Build A Solid Relationship With Your Banker - Jan 6, 2011
Get Value From Your Cpa - Nov 21, 2010
CFO For Hire - Jul 1, 2010
Inside Secrets Your Banker Wants You To Know But Will Not Tell You - Apr 12, 2010
Rev Up Profitability - Jan 18, 2010
Every Company Needs A CFO Regardless Of Size - Oct 8, 2009
Bill Maya, CEO, Advanced Spine / Solana Medspa's, Inc. - Apr 9, 2009
Testimonial - Orange County Nursery Inc. - Mar 4, 2009
Testimonial - Rick Dominge General Manager Ocn - Mar 3, 2009
Testimonial - Bob Sands - Mar 1, 2009
Survival In A Down Economy - Jan 8, 2009
William Rowe Owner Wcr Consulting - Dec 20, 2008
Business Plan Myths - Sep 22, 2008
Key Operating Indicators - Sep 15, 2008
10 Cash Flow Rules To Follow - Apr 22, 2008
Considerations For Hiring A Part Time CFO - Jan 28, 2008
Testimonial - CEO Suti Inc. - Apr 4, 2007
Testimonial - El Modeno Gardens Inc. - Oct 7, 2006
Testimonial - Nytech Corporation - Oct 5, 2006
Testimonial - Howerton Inc. - Apr 27, 2006
Todd Sobol President Thermal Flex Inc. - Apr 5, 2006
B2B CFO Partners, LLC dba B2B CFO®
2415 E. Camelback Rd, Suite 700
Phoenix, AZ 85016
