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Steel Fabricator - Jul 20, 2010

Posted by: Joanie Gable in Testimonials

I had the proud pleasure of working with Joanie Gable for several years. Throughout those years, Joanie always exemplied a professional, yet sensitive approach to any challenges we faced. She brings an instant amount of integrity and stability to the team, while also encouraging and challenging others to achieve higher goals.

                                                                                             Erwin Raughley
                                                                                             President
                                                                                             Raughley Pipe & Tube, Inc.

Testimonial - Residential Real Estate Developer - Feb 16, 2010

Posted by: Joanie Gable in Testimonials

We started out our business as two smart people who knew everything, yet we were very naïve. As we grew very fast, accounting issues grew as well. Joanie was not our first experience into learning the ropes, due to the cost, but once we engaged her we had a very good teacher and exactly what we needed. She told us things we did not want to hear but what was necessary in order for us to grow successfully. Once we implemented her recommendations we achieved such positive results it became second nature to just trust her. She saved us time and money, made complex situations seem simple and organized us in such a way that we could take charge of our future growth. We are still growing, thanks to her guidance.

Dwayne & Cassie Shears

Shears Enterprises, L.L.C.

Can't Afford a CFO? This one is for rent - Feb 16, 2010

Posted by: Joanie Gable in Articles

Joanie Gable of Birmingham, a CFO for hire, right, chats with Jessica Kirk Drennan of The Crittenden Firm. Drennan had Gable assist her in researching financial documents in a divorce case last year. (The Birmingham News / Frank Couch)

By Roy L. Williams -- The Birmingham News; 2/10/2010

Joanie Gable of Birmingham is a CFO for hire.

In 1990, she left a 15-year corporate career as a chief financial officer to form Accounting for Profits Inc., a firm in which she was hired out as a part-time finance chief for businesses across the Southeast.

In May 2009, she joined Phoenix-based B2B CFO as its first Alabama partner. B2B CFO has 146 partners across 39 states that provide chief financial officer services for small and mid-sized companies. Gable says going from a one-person operation to joining a network of CFOs was a smart move.

"It was a step up in my career," Gable said. "Now I have a wealth of knowledge to draw resources from."

When she started Accounting for Profits, the idea of companies turning to outside CFO consultants was in its infancy, Gable said.

" I was told I couldn't do this for a living," Gable said. "Now it is catching on. It is a growing trend in today's troubled economic times as companies turn to seasoned outside financial professionals."

Firms are finding renting a CFO can be substantially cheaper, Gable said. The average annual salary for a full-time CFO in a small to mid-sized business ranges from $94,250 to $175,750, according to a 2009 salary guide by California-based staffing firm Robert Half International.

B2B CFO Partners' charges can be as low as $300 and $400 a month for small companies to thousands of dollars a month for complicated jobs that require more hours, Gable said.

In addition to providing financial counseling for business clients, Gable said B2B CFO specializes in fraud detection, litigation support, exit planning, succession and estate planning. She also helps companies determine the right computer systems to install to help cut costs and is a turn-around specialist helping struggling firms recover.

Clients Gable has worked with include The Women's Exchange, The Birmingham Regional Chamber of Commerce, Collat Jewish Family Services, The Church at Brook Hills and Nutritional Supplements Corp.

Last year, Gable provided litigation support and served as an expert witness in a divorce case handled by Birmingham's Crittenden law firm. Jessica Drennan, a lawyer for the firm, said Gable reviewed financial documents and helped her client discover millions of dollars in hidden income.

"It was a complicated divorce case and with Joanie's help we were able to prove the marital estate was worth $4.5 million, which was extremely important in our case because the client was in her 60s and didn't know what was in the financial accounts," Drennan said.

Before striking it out on her own, she spent four years as CFO at Birmingham's AC3 Computers Inc. She also served as director of planning at Birmingham-based Drummond Coal.

Stephanie Rauterkus, a UAB professor of finance, said outsourcing is a great way for companies to cut costs in economic downturns. But she added it is unusual for firms to outsource top management services such as the CFO.

"This is not the same as Walmart/Sam's outsourcing their product sampling department and in turn cutting 10,000 jobs," Rauterkus said. "Those employees aren't handling sensitive information. As a member of the top management team, a CFO is in the position to make key decisions that affect the firm's mission -- maximizing owner wealth."

Rauterkus cautioned firms considering hiring an outside CFO to tread carefully. They should inquire whether that person hires him or herself out to multiple firms, and they should make sure that confidential information stays private and that there are no conflicts of interest, she said.

"I just think that both sides need to be sure that they are thinking through all of the ramifications of the situation," she said.

Gable said she does not work for competing firms and keeps all of her information confidential.

Year End Business Dreams and Realities - Dec 20, 2009

Posted by: Joanie Gable in Articles

With the New Year approaching, we always think of it as a New Beginning. What does 2010 hold in store for your business? Was 2009 a year of hardships or was it just a year like many others, with successes and struggles and changing plans.

Big Ideas for The New Year should begin with a Plan. Strategic Planning is a necessity for any business and should include Dreaming** Outside the Box. What would your business look like if money or manpower was not an object? Once you can see it you can then determine what it takes to make it happen. Planning your Work and working your Plan is the most effective way to accomplish any task. Once the plan is conceived it can then be shared and others can catch the Spirit. Every business needs a One Year Plan and a Long Range Plan.

Is your business in need of a Turn Around? Is this just a turnaround in profit margins or personnel issues? Or could it be you have heard the words Bankruptcy mentioned yet do not feel that is an option you desire to consider? There are others ways to “skin a cat” so by all means, talk to professionals that will consider differing alternatives to whatever may be your current need. A Business Turn Around can provide for many more years of growth and profits but will take time, determination and integrity. It is certainly worth exploring the options.

Plans to End the Year

Timing strategies are always the Number One Year End item as they land on the Balance Sheet to stay with a business throughout its lifetime:

Think ahead as to what you would like your year-end numbers to represent?

Can you speed up collections to have cash at year-end or pay down
debts?

Maybe you need to increase your EBIDA to stay within Bank
&n....

October Resolutions - Trick or Treat - Oct 9, 2009

Posted by: Joanie Gable in Articles

Resolutions

Yes, it may seem a little early to be thinking of resolutions but if you are a planner, like so many people, you are already making your lists well into the months of December and beyond. With the economic storm of 2009, which we are all still enduring, maybe Planning would be a good thing. Have your plans turned out as you had envisioned? If not, you are certainly not alone. With bankruptcies, foreclosures and unemployment at all time highs, business profits, savings accounts, and any future plans also may need revising.

So where do we start when no one seems to have been through these multitude of issues in our lifetime? We start with a Positive Attitude. No one person is responsible for our economic situation. Now is not the time for brothers to be against brothers, for families to blame one another and for partners to disagree. What may appear to be tragic can still bring blessings if the focus is on moving forward with a positive momentum. Misery does love company but avoid this negative peer pressure. Spend time with other business owners and friends that are upbeat. These peers might spark new ideas resulting in new accomplishments.

If there is something of value that you have lost, take the time to Grieve the Loss, but do neither yourself nor anyone else any harm as you progress through the process. Try to remember it is just stuff and can be replaced. If you never get the chance to replace it, you were not taking it with you so you have just had the yard sale early. Your children will be blessed.

If you or your business is struggling, remember Bankruptcy is not the only alternative. With the integrity of paying our debts comes the issue of quieting our creditors long enough to become profitable in order to pay them. All of this takes time and energy. It is possible to do Reorganization with creditors without the expense and labeling of bankruptcy.

Look for the Positives in your everyday world. Several years ago my son was pursuing his dream of Medical School when a car accident took his life. As my daughters grieved for their brother and I for my son, we wondered how the sun could possibly come out tomorrow and why the world had not ....

Testimonial - Service Franchise - Oct 8, 2009

Posted by: Joanie Gable 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

Testimonial - Not for Profit Organization - Oct 8, 2009

Posted by: Joanie Gable in Testimonials

Joanie has worked with our agency on and off as a consultant and part-time CFO for approximately 15 years. She is the one I call when situations arise, as she truly knows her business. Over the years she has earned my complete trust as she produces systems and reports that are not only timely and accurate, but easy to understand and follow through to the details. She helped us expand our business to the point that we were able to hire a full time CFO and she then helped hire, train and supervise the employee until we were sure the job could be done the right way, following her lead . Additionally, she is a wonderful person to be around as she is supportive, caring, and brings her own brand of wisdom to the table and shares it willingly. She has been my partner, sounding board, advisor and friend.

                                                                                               Esther Schuster
                                                                                               Executive Director
                                                                                               Collat Jewish Family Services