B2B CFO Surpasses 200 CFO Partners - Dec 8, 2011
Posted by: Jerry L. Mills in Articles
B2B CFO’S RECORD GROWTH SURPASSES 200 PARTNERS AND SHAPES NEW LEADERSHIP TEAM
B2B CFO Appoints Joseph C. Worth to Vice President of Operations and Expands In-House Digital Media Team
Phoenix, Ariz., November 1, 2011 — B2B CFO’s record growth is pushing the firm to become the world’s largest CFO services firm with more than 200 Partners across 39 states and more than 800 clients across North America. B2B CFO surpassed the 200 Partner mark in September of 2011. Corresponding with the pace of the growth, the company today announced the appointment of Joseph C. Worth to Vice President of Operations.
Jerry L. Mills, Founder and Chief Executive Officer of B2B CFO said: “We have entered a very exciting time for B2B CFO. As we further drive our expansion and growth, we must focus on streamlining our operations and ensuring the consistency of our brand and value proposition. Great people have always been the key to our success and I am so pleased to have Joe Worth join our executive ranks. His leadership skills, deep roots in service, sales and the financial industry will be an invaluable asset in our future growth.”
“There are tremendous opportunities ahead for B2B CFO,” Mr. Worth said. “I look forward to further elevating the success of our firm by focusing on the individual development of each one of our Partners and supporting their accomplishments and growth.”
Mr. Worth, who lives in Wall, NJ, first joined B2B CFO as Partner in 2007. In 2008, Jerry Mills turned to Mr. Worth to help create a custom sales training program for B2B CFO’s Partners. Since then, Mr. Worth has been leading the sales training for B2B CFO, allowing him to not only get to know all the Partners that join the firm, but also to continually work to improve the process and fill any gaps. Mr. Worth was instrumental in launching a new coaching program in 2011 that will further enhance the resources available to the firm’s partners.
Making him extremely effective in this endeavor is his unique and diverse background. Mr. Worth has 30 years of financial and general management and transaction experience in many industries. Prior to joining B2B CFO he has been....
Posted by: Jerry L. Mills in Articles Every product or service that has ever been created was first a seed of thought in someone's mind. Even those products or services that have been created by accident were originally created because someone acted upon a thought. Thought is the first principle of creativity, especially thought about the future. Thought about the future as it relates to a company is a very difficult process, one that very few entrepreneurs are skilled enough to do very well. This kind of thought that of accurate future planning, takes a lot of discipline and creativity. This kind of thought will determine who will succeed and who will fail during the next few decades. The foundation of the logic of future thought for my company rests with the proper usage of technology. My company has grown due to technology created by search engines and social media. Without them we would be a mom-and-pop operation with very little hope for growth for the future. We are grateful for this technology; however, it is only useful for those who are smart enough to take advantage of their power. That power rests with the proper application of thought and planning on how to use such technology to make a company grow. It is also a testament about the intelligence and skills of those with whom I have hired to help me utilize this technology. The first rule I use to plan for the future is to determine the size that I want my company to be at a certain future date. For example, I set a BHAG (Big Hairy Audacious Goal) in 2007 to grow my company by almost ten-fold by 2014. Most, if not all, of the people associated with me in 2007 laughed and impugned my idea. Most did not understand why I set the goal. The goal was, at that time, simply an end to a means. The goal allowed me to start thinking of the technological processes and things I needed to acquire in order to achieve the goal. The goal was tantamount to setting a goal to climb a very high mountain. One can only arrive at the summit of a high mountain by taking one step at a time. That was my process in setting this BHAG. I started to visualize the steps it would take to arrive at the goal. The start of this process this with hiring professionals, asking questions, reading books and magazines, spending significant time on search engines, etc. Much of the time was filled with frustration. As in climbing a high mountain, there was a certain amount of "fog" in front of me that prevented me from seeing what I desired to see. I learned from that process. I learned that I must have the drive to force myself to step forward each and every day, even if the continual fog would not let me see the next set. The "next step," in my opinion, must default to an investment in technology. The advanced usage of technology was the only logical conclusion for future growth for my company. The investment in and the process of "pushing the envelope" with my employees and professionals in terms of technological usage was the one assurance I have that the future of my company will continue to grow. I know, at a minimum, that my competition will not be able to keep ahead of me and that my company will continue to grow faster than them and reach the future customer at a greater pace than them. I also know that the investment "now" in the proper usage of technology will cause my competition to invest money that they might otherwise need for other purposes. In other words, it throws them off their game and causes them to "react" to my company's usage of technology. My security that my company will achieve the BHAG is that we are investing in a step-by-step process of investing in the proper usage of current and future technology. Everything will fall into place. The goals will be achieved and the naysayers of the past will say, "I knew he could do it." Posted by: Jerry L. Mills in Articles 1. You can make future profits without decreasing labor costs The largest cost on the Profit & Loss Statement for most companies is their labor. While some of the per-hour costs of labor have been flat for the past few years, which are likely to change in the near future. While unemployment in the USA is at almost record highs, the pool of skilled labor is slim. Most of the unemployed are unskilled, especially in terms of technology. The largest future increases in labor will not be in the hourly rates. Federal and local governments are starving for cash and will place an ever-increasing burden on labor costs. The new Federal health care system is an example. As I write this article, no existing professionals or the Federal government itself can tell us the future cost of health care to employers. We will also see significant increases in workers compensation, unemployment insurance, payroll matching taxes, the cost of filing tax reports, etc. Investment in technology is the one possible way to fight these future increases in labor costs. Technology does not need health care, payroll taxes, unemployment insurance, sick pay, paid holidays workers compensation insurance, etc. It never sleeps. It works 24/7/365. It does not file frivolous lawsuits or get its feelings hurt. It can work in any country and in any language. In short, it may be the difference between you company's future financial success or failure. 2. You can't make money in a recession. There were hundreds of new first-time millionaires created during the Great Depression (1929-1941). Each economic down-turn creates new opportunities for entrepreneurs in a free market society. There are always customers that need products or services. One of the advantages of today's economy is that we have a global economy. This gives us more opportunity to capture market share. We now do not need 100 percent of our business in the United States. Perhaps we can have 60 percent of our market share in the USA and the remaining in China and other countries. 3. You can grow your business without investing in technology. Every company has competitors, both known and unknown. The competition may be visible or hidden from open view. Regardless, the competition wants to take away your customers. They are currently working on a game plan to cause your customers to leave you and pay them. It is highly likely your competition is using high technology in their game plan. They know who you are and what type of technology you are using. They also most likely know the names of your key employees. A part of their game plan may be to take away your key employees to speed up the process of creating better technology than your company owns. It is in your best interest to start a "stealth" plan to improve your existing technology to not only keep your current customers but to also attract new ones. There are always better and smarter ways to find new customers, especially in a global economy. Posted by: Jerry L. Mills in Articles B2B CFO RANKS AMONG THE TOP 25 ARIZONA’S FASTEST GROWING PRIVATE COMPANIES High Growth Earns B2B CFO Spot in the 2010 Arizona Corporate Excellence Awards Phoenix, Ariz. September 20, 2010 — B2B CFO, nation’s largest provider of CFO services to emerging and mid-size businesses was honored in the ACE, Arizona Corporate Excellence Awards for its fast growth. Now in its 16th year, the Arizona Corporate Excellence Awards is an annual celebration of private businesses that are thriving in Arizona. In order to be considered for the awards, Arizona-based companies had to apply and agree to have their financials reviewed by independent accounting partners. Companies that made the ACE Fastest Growing list are ranked using a formal that considers revenue growth and other factors. B2B CFO came in 22nd on the list of top 25 fastest growing companies in the state. “We are honored to be included in the list of fastest growing businesses headquartered in Arizona,” said Jerry L. Mills, founder and chief executive officer of B2B CFO. “Our firm is expanding nationally across all major markets and growing at record pace. With this momentum, we look forward to a similar growth pattern in the coming years.” Among the top 25 fastest growing companies were: American Traffic Solutions, Sprouts Farmers Markets, NextCare Urgent care, Lifelock Inc. and GoDaddy. The awards ceremony took place on September 16th at the JW Marriott Desert Ridge Resort in Phoenix. B2B CFO’s Phoenix based Partners joined Jerry L. Mills for the awards ceremony. B2B CFO’s growth is reflected in numerous awards this year. The firm made the prestigious Inc. 5000 list, ranking 84th in its industry category. Jerry L. Mills will be attending the Inc. 5000 conference in Washington D.C. in October of this year. In September 2010, B2B CFO has grown to 174 Partners across 39 states, representing 5,000+ years of cumulative experience....
Posted by: Jerry L. Mills in Articles B2B CFO NAMED INC. 500|5000 LIST 184% Growth Earns B2B CFO Spot in the 2010 List of Fastest Growing Companies in America Phoenix, Ariz. August 24, 2010 — B2B CFO, nation’s largest provider of CFO services to small businesses, has been named to the prestigious Inc. 5000 list of fastest growing companies in America. Now in its 29th year, Inc. Magazine’s annual ranking judges US-based and privately held companies by their revenue growth. This year’s list was ranked on the percentage in revenue increase from 2006-2009. B2B CFO’s growth earned 84th place in its industry. "There are approximately 27 million small businesses in the U.S. today,” said Jerry L. Mills, founder and chief executive officer of B2B CFO, “It is a huge honor to be among the fastest growing and the most successful businesses in the country. Our firm has experienced tremendous growth over the past few years and we are on track to continue expanding. I am especially grateful to all of the firm’s dedicated Partners who continue to advocate our services around the nation.” In a personalized letter congratulating B2B CFO on this accomplishment, Jane Berenston, editor-in-chief of Inc. Magazine’s wrote “Congratulations: your company, B2B CFO, has made the 2010 list of the fastest growing private companies in America. This achievement puts you in rarefied company, especially if you consider that over 27 million businesses are registered in the USA. The elite group you’ve now joined has, over the years, included companies such as Microsoft, Timberland, Visa, Intuit, Jamba Juice, Orac....
Posted by: Jerry L. Mills in Articles Fortune Magazine published an article years ago named, Permanent Vacation? 50 and Fired. I would like to expand on a few things regarding this topic. First, let’s visit some of the quotes from the article, which was years ahead of its time: “You’ve got hundreds of thousands of obsolete professionals who can’t find employment in positions where they’ve been successful. These are people living off retirement savings 15 years before they were supposed to retire. They don’t know what they’re going to do.” “Peter Capelli, a professor at the Wharton School, says the executive recruiters he talks to don’t want older people who have tenured compensation – not when they can hire younger, cheaper people. ‘It makes economic sense,’ he says ‘It’s just hard on employees. They were hugely valuable yesterday, because they performed valuable skills. And now they’re tossed on the general labor market where they’re suddenly not worth much.’” “…there’s a good chance they’ll end up in a category you might call involuntary consultants.” “’My heart really goes out to the 55-year-olds who can’t come to terms with what’s happened to them,’ says Lynn Guillory. ‘They are still looking for the old implied employment agreement: The company would take care of you; all you had to do was work hard.” Forget the paycheck, he tells them. Your W-2 days are over. It’s a 1099 world now.’” (Fortune Magazine, Permanent Vacation? 50 and Fired, May 2, 2005) IT’S A 1099 WORLD NOW! The thought that the “W-2 days are over” can be a very frightening thought for many professionals. I have talked to hundreds of CFOs over the decades and understand the thought process and the fear that overcomes one regarding this topic. In fact, I remember the conversation I had with my wife when I told her I was going to start B2B CFO back in 1987. We had four small children under the age of eight and my wife was a stay-at-home mother. After explaining what I was going to do she looked off into the distance for a few seconds and then turned back to face me. I saw the fear in her eyes. She asked me only one question, “Jerry Posted by: Jerry L. Mills in Articles B2B CFO, the only CFO services firm featured in the book, quoted in Chapter 9 “Handling Your Company’s Finances” Phoenix, Ariz. (BUSINESS WIRE) DATE—The Wall Street Journal’s Complete Small Business Guidebook, published on Dec. 29th 2009 by Random House is quickly climbing the charts of most popular reads. B2B CFO, the nation’s largest CFO firm that exclusively services the needs of small and mid-size businesses, was featured along with other leading national resources in the 258-page book. Author Colleen DeBaise, who currently serves as small business editor at The Wall Street Journal, turned to B2B CFO for insight on cash flow strategy for her chapter on “Handling Your Company’s Finances.” In this chapter, DeBaise discussed cash flow projections and operational finances and included a sample chart frequently used by B2B CFO Partners that outlines how to prepare and what to do to survive budget deficits. DeBaise pulled from key experts in the nation to bring together best practices when starting a small business. “From writing business plans to creating exit strategies, we pulled advice from key experts to bring our readers a comprehensive resource,” said DeBaise. “Being included in this high-profile resource for entrepreneurs was a great way to round up 2009 for our firm,” said Jerry L. Mills. In January 2010, B2B CFO has grown to 146 Partners across 39 states. Each Partner is a seasoned financial executive who serves as CFO to growing businesses on as-needed basis. Together, B2B CFO Partners work with more than 500 businesses in the nation with combined annual sales of more than $5 billion. Now in its 22nd year, B2B CFO has experienced steady growth and emerged as the leading resource providing CFO solutions to small and mid-market companies. Serving as CFOs to hundreds of clients, the B2B CFO Partners know first-hand the challenges that business owners face when it comes to operational finances. “Small and mid-size business owners regularly turn to B2B CFO’s Partners for advice on finance and cash flow,” Mills said. “Cash is the bloodline of a business, and having a firm grip on your company’s finances is the key to growth.” PHOENIX (Nov. 12, 2009) – Some believe that imitation is the sincerest form of flattery, but Phoenix based entrepreneur and business expert Jerry L. Mills is not flattered and not amused by others replicating his firm’s propriety materials. In fact, this CEO of the nation’s fastest growing CFO services firm has a strong message to other business owners: protect your intellectual property, or prepare to have it stolen. He does not say this with a light heart; his firm has dedicated tremendous resources this year to fight off blatant plagiarism of copyrighted content as well as cases of intellectual property rights infringement and theft. In June of 2009, searches for key phrases unique to B2B CFO’s Web site content resulted in a stunning discovery of dozens other businesses plagiarizing the company’s content word-for-word on their Web sites. The problem was so widespread that this year alone B2B CFO has encountered more than 40 separate cases of plagiarism, including several competitors using B2B CFO’s registered trademark. As the nation’s largest CFO firm dedicated exclusively to serving small and mid-size businesses, B2B CFO works diligently on its online branding – constantly building fresh blog content, improving its Web site and investing in strategic Search Engine Optimization. Now, Mills and his company have set up procedures to handle most of the issues related to the plagiarism of the company’s Web site. Mills designated Rick Daigle, an Atlanta partner with an extensive I.T. background, as the company’s Website Plagiarism Specialist. Daigle recommends using the website Copyscape and Google searches to help find offenders. According to Daigle, when an offender is first identified, all relative evidence of the infringement is collected and saved. Next, Mills and Daigle send a “cease and desist” letter notifying the offender of the laws against copyright infringement as a direct violation of the Digital Millennium Copyright Act (DMCA) and International Law. They give the offender 72 hours to correct the issue before turning the violators over to the firm’s law firm. Posted by: Jerry L. Mills in Articles The Wall Street Journal has recently featured B2B CFO in their printed edition. Follow this link to read the entire article online, http://online.wsj.com/article/SB125358186243529783.html Posted by: Jerry L. Mills in Articles The following was an article that I wrote that was published in the FENG newsletter on August 12, 2009. I do not know if you realize this or not, but Matt Bud, in his August 6, 2009 editorial, gave some of the wisest counsel to professionals that I have ever witnessed. He said, “Friends, it really isn't all that hard to know you didn't start in your first job out of college as a Controller or Chief Financial Officer. The other technique is saying "prior to 1985 I worked at the following 4 companies," but not give the years you worked there. All foolishness if you think about it. It begs the question of how old you are, and the reader is always going to guess higher.” Let me give you some background that might help with this issue. I was an experienced manager with Arthur Andersen & Co. back in the 1980’s. Naturally, my goal was to push hard to become partner. I witnessed two partners that were asked to “retire” in their early 50s. I spoke privately to them about the situation and witnessed, first hand, the devastating impact to their lives about this forced retirement. I went home to my wife and told her that I would never allow any person or any company to ever do that to me. I decided at that moment to start my own consulting firm. My goal was to be at my highest earnings and greatest productivity in my 50’s and going into my 60’s. I have now exceeded that goal. My consulting firm has grown from three people to 126 in the past four years. We are receiving 120+ resumes a month from CFOs. I personally read each resume to see if the person is a potential candidate for our firm. One of the most disturbing trends that I see in the resumes is incomplete information, similar to the issue that Matt Bud addressed above. It is very common for CFOs to send us a resume with experience starting in 1990 and no more information. They sometimes say, “prior experience provided upon request,” or something similar. Even more frustrating, about 90% of the resumes that I read have no dates of graduation from universities or colleges. I used to contact people with incomplete resumes to ask for more information. Often, they would get angry with me. One told me, “I can’t believe I am wasting so much time with you.” I used to ask CFOs why they left such critical information off their resumes. The answers usually were something like, “I hired a professional that advised me to not disclose the early part of my career.” I have never understood why someone would want to hide, perhaps, the most important part of their career. I have finally give....
Posted by: Jerry L. Mills in Articles B2B CFO Challenges Negative Perception on Small Business Lending PHOENIX (June 11, 2009) - The troubled economy and strict regulations surrounding small business lending have not been a roadblock for B2B CFO Partners working to secure loans for their clients. To date, B2B CFO Partners have helped their clients secure more than $111 million in business loans, and the company is projecting that secured loans will total $250 million by end of 2009. Jerry L. Mills, founder and CEO of the Company, attributes this success directly to B2B CFO's expertise in small business finance and the emphasis that the Company puts on banking relationships. Mills challenges the negative perception on small business lending. According to Mills, business owners need to understand the recent changes in the banking industry. A dynamic shift took place in business banking in the beginning of 2008. This drastic change in the approval process means that business owners cannot approach banks in the same way they did in the past. Not knowing what information to present when approaching banks, and most importantly not knowing how to present the information, often results in rejections of loan applications. "The old ways of obtaining bank loans are dead," said Mills. "And we must adjust to the new ways." Mills strongly believes that today's business owners are better served having professional advice before approaching the bank for a loan. B2B CFO is the nation's largest CFO firm servicing exclusively the needs of businesses with revenue under $75 million. The Company's 121 Partners across 43 states help approximately 500 business owners around the country with finance, cash flow and growth-related issues. Each B2B CFO Partner works as a chief financial officer for several clients at any given time. Mills is currently serving as a CFO for 10 growth-oriented businesses in the Phoenix area. When it comes to securing loans, Mills works diligently not only to match his clients with the appropriate banks, but also to prepare documentation that meets the needs of the bank, increasing probability of closing on the loan. Mills recently turned to Alliance Bank of Arizona, a local business bank for a significant loan for one of his clients, Integrated Landscape Management, one of the largest commercial landscape management companies in the state. Co-founders Robert Clinkenbeard and John Garigen had used their personal loans to pay for a fleet of vehicles, a not uncommon situation in small business. As a result, their personal FICO scores and personal borrowing capabilities were compromised. Mills and ILM approached Alliance for a business loan that would be used to pay off the multiple individual loans on ILM's fleet of vehicles. By securing the business loan, ILM's founders not only relieved their personal finances, they also improved the cash flow for the company by $75,000 per year. "Unlike other banks, Alliance Bank took the time to get to know our business and to understand our needs," said John Garigen. "But it was the sound advice from B2B CFO that got us on the right path. Jerry shared a lot of information with us about how banks work and what they need, and we were much better prepared to present our case when asking for a loan." Robert Gramhill, Alliance Bank's Vice President, oversaw the transaction. According to Gramhill, Alliance Bank is actively lending to qualified small business owners. Alliance Bank, based in Phoenix, Ariz. is a subsidiary of Western Alliance Bancorporation, which funded approximately $400 million in new loans in 2008. "The case of Integrated Landscape Management is one of the many examples of small business loans that we provide," said Gramhill. "At Alliance we are continually lending money to qualified businesses." "Small and mid-size businesses today have more potential than ever. They are the ones creating jobs, purchasing equipment and real estate. They are the heart of our economy, and it is in everyone's best interest to help them succeed," added Mills. In a recent survey of 374 clients, B2B CFO discovered that finding cash for growth is the key concern for business owners around the country. With loans averaging $1.8 million, B2B CFO is helping its clients find cash to fund growth and create jobs. Jim Lundy, Alliance Bank of Arizona President and CEO, summarizes the value of having professional support when securing loans. "In these challenging economic times it's critical that lo.... Posted by: Jerry L. Mills in Testimonials "Jerry Mills has been associated with my business for nearly fifteen years. He has helped train and over see my accounting staff. This has given me peace of mind as this is not my area of expertise. His network of professionals has helped me establish no hassle relationships with quality lawyers and bankers. In my small company environment, Jerry's broad range of business acumen has been a great substitute for a larger company's board of directors. It has been very cost effective as I am only paying for services rendered as I need them, thus eliminating the need for excessive staff." Tom Stanley, President, Pinnacle Mfg. Co., Inc. Posted by: Jerry L. Mills in Testimonials "I have been in contracting for over 22 years. It wasn't until Jerry Mills came on board that I was able to see a much clearer picture regarding everything from cash flow, sales, margins, trends, etc. It also helped me manage my staff because Jerry was very hands on with training as it relates to construction accounting. I am very pleased with the work ethics, integrity and the personal attention to detail. I have recommended Jerry to several clients and will continue to do so in the future." Scott A. Bjerk, President, Bjerk Builders, Inc. Posted by: Jerry L. Mills in Testimonials "B2B CFO® is one of the best business decisions we have ever made. It's great to have someone with their expertise on our team. As a business owner there are so many things to do and areas where great knowledge is required. Jerry Mills has helped to teach me the things I need to know to be wise in running the financial end, areas I didn't know much about before. We are now more profitable and able to make decisions based on great information, from a position of strength instead of the unknown." Kathy Sweet, Co-Owner, Vice President Posted by: Jerry L. Mills in Testimonials "Jerry Mills, his expertise and outstanding services are absolutely critical to the success of my business. I consider the cost of his services the best investment I have made in the management of SpectraSoft, Inc." Steve Petrie, CEO, SpectraSoft, Inc. Posted by: Jerry L. Mills in Testimonials "Jerry Mills has provided consistent results to our clients. Closely held businesses often times cannot afford a seasoned CFO. Jerry and B2B CFO® fill that need for small to medium sized businesses." Richard Cobb, Esquire, Member Manager, Lake & Cobb PLC Posted by: Jerry L. Mills in Testimonials "Working with a seasoned and experienced small-business professional in the area of finance and accounting is critical to our firm's continued growth and profitability. Over the past year Jerry Mills has provided valuable insight and recommendations in organizing and supervising the financial modeling and management of our firm." Eric Sieb, Principal, The Sieb Organization Posted by: Jerry L. Mills in Articles STRATEGIES August 2007 Benjamin Franklin is credited with the adage, "In this world nothing is certain but death and taxes." That statement is as true today as it was when he wrote it more than 200 years ago. We can add another truism for today's business owners: You will exit your company one day in the future. Your exit from your company may be planned or unplanned. The exit may bring satisfaction or dissatisfaction to you and your family. It may be to the benefit or detriment of your employees or associates. It may bring great financial reward, or it may bring financial devastation. The exit may bring fame or shame to your family and friends. It may be the continuance or discontinuance of the company you have worked so hard to create and build. The exit may be to the benefit or detriment of your competitors. Regardless of the consequences, you will some day exit your company in one form or another. "Begin with the End in Mind," is a saying made popular by Stephen R. Covey. This is wise advice and should be adhered to by every business owner. One of the attributes of entrepreneurs is that of being a visionary. Keeping that in mind, it is prudent to begin with a vision of a successful exit strategy from your company, since that end is inevitable. I started my business in 1987. Like many entrepreneurs, in the beginning, "the End" was a tremendous effort to make enough money to feed my family. The End for me was to try to convince future customers they should pay me a fair price for what I was trying to sell. The End was struggling through the frustrations of being a pioneer in a new industry and the frustration of learning new skills to explain my vision to people whom I felt needed my services. In the beginning, there were many times that I felt the End might be the failure of my business, my vision and my aspirations. I know that many entrepreneurs feel the same way at the outset of their business endeavors. It is no longer a struggle to meet the financial needs of my family. A business concept that was new and revolutionary in 1987, is now well-accepted in our business society and is easy to explain. It is now time to follow the advice of others and join my fellow entrepreneurs with a new vision of the End, one with a successful exit strategy that is planned, effective and beneficial to everyone. Well, beneficial to everyone, except the competition! What are our options for an exit strategy? Fortunately, the options are few and easy to comprehend. The central exit strategy themes are as follows: Planning for an untimely death is easy to accomplish through the purchase of adequate life insurance with specific instructions on using the money. Personal or family representatives, insurance agents and attorneys can all help create a plan that will most likely help you accomplish your key goals. This type of exit strategy should begin now and should not be delayed. Think Like a Buyer If your exit strategy is to sell the business - whether to a third party, family members or employees - planning how to maximize your income by the sale of your business is essential. Let's assume you wish to sell the company in the future at a fair market value, regardless of who might purchase your business. What, then, are some of the things you can start planning to make this a reality? Discussing the sale of an entrepreneur's business is an interesting exercise. Most business owners are adamant about the amount of money they want for their business. They're usually reluctant to accept any outside critique that might conflict with their dollar amount. Regardless of your feelings about the value of your business, it will most likely be sold using a factor times your company's EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) averaged over a period of time. The information on this subject is easy to obtain and won't be discussed here. Rather, I prefer to try to help you take a step back and look at the big picture regarding the future value of your company. I'd like to share with you some ideas about the future value of your company in a way that perhaps nobody has suggested. The easiest way for me to help you with this subject is to have you assume that you are going to buy a business. Let's forget about selling your business for a moment, as you consider the following scenario, which will ultimately lead you to a better picture of how to improve the value of your own company. Pretend that you are the buyer and are interested....
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B2B CFO NAMED IN INC. 500|5000 LIST - Aug 25, 2010
It's a 1099 World - Feb 19, 2010
B2B CFO IN WSJ GUIDEBOOK - Jan 28, 2010
In an economy where online commerce is crucial, protecting oneself against Web site plagiarism is absolutely essential to the small and mid-sized business owner.
The Wall Street Journal -- For Rent: Chief Financial Officer -- Firms Outsource a Top Job as Cheaper - Sep 25, 2009
Consulting & Age Discrimination - Aug 12, 2009
B2B CFO Challenges Negative Perception on Small Business Lending - Jun 13, 2009
Testimonial - Pinnacle Mfg. Co., Inc. - Sep 4, 2008
http://pinnacle-az.com/
Testimonial - Bjerk Builders, Inc. - Sep 4, 2008
http://bjerkbuilders.com/
Testimonial - Automatik - Sep 4, 2008
http://www.automatik.us
Testimonial - SpectraSoft, Inc. - Sep 4, 2008
http://www.spectrasoft.com/
Testimonial - Lake & Cobb, PLC - Sep 4, 2008
http://www.lakeandcobb.com/
Testimonial - The Sieb Organization - Sep 4, 2008
www.sieb.com
Think Like A Buyer To Exit Profitably - Sep 2, 2008
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