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Testimonial- Keyot - Aug 9, 2011

Posted by: Kevin Cattoor in Testimonials

B2B CFO offers a number of services that are essential to any startup company. Kevin helped us better analyze our financial statements, and paired us with the perfect fit for a CPA firm and payroll service. Kevin is a true professional, a seasoned executive, and great to work with.
Angie Cayot Manageing Partner
Keyot

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What’s Your Strategy for Using Social Media to Increase Your Business? - May 18, 2011

Posted by: Kevin Cattoor in Articles

I recently returned from our firm’s annual meetings in San Antonio, TX where our 190+ partners convened to discuss our respective businesses and learn the latest about a variety of issues including exit planning, Google tools, accounting software, AND SOCIAL MEDIA.  I was pleased to see the commitment of our firm to the social media platform.  B2B CFO® has established its own Facebook and Twitter pages.  We are active on LinkedIn, have our Google places and many of us blog.   Facebook and Twitter are here to stay and all businesses I believe need to determine how they are going participate in this new space. The average person is spending over 7 hours a month on Facebook.

I talk about Facebook with my clients as the new super highway which is moving fast and becoming congested with upwards of 600 million people.  One out of every twelve people around the world has a Facebook account. These consumers speak 75 languages and recently Facebook accounted for 1 out of 4 American Internet page views. It's even more staggering to watch its membership grow at a rate of about 700,000 people a day.  And they expect to reach 1 billion members in 2011.  And it's not just Facebook that's having an impact on traditional marketing. In fact, all social media is growing at exponential rates - from Twitter and blogs, to customer reviews and recommendations, social customer service and certainly not least YouTube.  All of these social communication platforms are having a supercharged effect on how consumers interact, search products, get deals and shop.

According to Facebook, there are more than 200 million active users currently accessing Facebook through their mobile devices, and further these mobile users are twice as active as non-mobile users.  Companies today need to figure out how to not only keep their consumer shopping on their websites but also build shopping portals on these new e Facebook/Twitter/YouTube superhighways and keep them coming back to their website and store location where they buy their products and services.  

Since November of last year I have had the good fortune to work as the acting COO/CFO of ShoppeSafe.com in Minneapolis, MN.  Fortunate, not only because they’ve become a great client, but also because I’ve been able to see the evolution of social media and the importance of it to maintaining and generating new customers for a business.   The one thing I’ve come to understand is that YOU NEED TO GET INTO THE GAME OF SOCIAL MEDIA TO MARKET YOUR BUSINESS. 

In some companies social success is beginning to surpass paid marketing channels like search engine marketing, display and print advertising. There is even discussion that social is the new search. In the recent Trend Report from Morgan Stanley, they predict m-Commerce (mobile commerce) will be half of all ecommerce by 2014.

 Businesses, small, medium and large need to reassess their same "old school" traditional marketing ways.  They need to consider walking away from the "old school" push product marketing and into “pull, buy and share” marketing.  And it’s not just putting the Facebook and Twitter icons at the bottom of your website.  It’s more than that.  You need to figure out how you can leverage your current customer base online or with email to provide “trusted testimonials” to their friends and family using social media and mobile.  You need to create a Sustaining Social Customer Relationship Management (CRM) approach to marketing to consumers online.  Is there a better way to promote your products and service than your customers speaking well of you?  The opportunity to do so lies right in front of you with social media and mobile.  And the tools to do it with are not that expensive to use.   
 
My client ShoppeSafe.com has cracked the code with their Sustainable Social CRM tools which successfully drive social and mobile commerce for its clients.  There are no implementation costs and they charge a modest monthly subscription fee to position businesses and their products and services onto the social media and mobile platform.  And they do it in less than 10 days.

If you, your business, or other’s you know are interested in learning more about how social media and mobile can increase your average order value, frequency of purchasing, conversion percentage and reactivate old business while also providing new customers for your business, contact me kcattoor@b2bcfo.com  Social is the next internet.  It is going to be interesting journey.

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Testimonial- Protein Alliance, Inc. - May 13, 2011

Posted by: Kevin Cattoor in Testimonials

Kevin has demonstrated rare competence and has assisted our company during a critical growth period. Kevin quickly understood our business and we appreciate his strategic advice and the ownership he has taken for the finance and accounting functions of our company. Kevin has become a trusted advisor and as such we look forward to a long term mutually beneficial partnership. Carl Wittenburg, President Protein Alliance, Inc.

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Financial Management is not like a Personal Trainer - Jan 13, 2010

Posted by: Kevin Cattoor in Articles

As a business begins its fiscal/calendar year of operations, there is always a sense of renewal.  Whether the previous year was a success or not, there is always excitement about starting out a new operating year with new goals and a belief that the next year will be better than the last.  Many of us set resolutions at the beginning of each year.  In business, the resolutions should be incorporated into the business plan.  If your company has a business, strategic, marketing and/or financial plan, the odds of achieving success are better than not having one.

 

In my October 2009 newsletter, I wrote an article entitled “Do You Have a Vision for Your Company?”  Regardless of how you plan your business, it starts with your vision.  Included in your business vision are the company’s mission statement and values.   That article can be viewed at http://www.b2bcfo.com/partners/kcattoor/.

                                                                                             

In the companies that I’ve worked with over my 30+ year career, I’ve seen different companies use different terminology for business planning.  Those described in Wikipedia are-

·        Business plan- a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. 

·        Marketing plan- a business plan having changes in perception and branding as its primary goals is called a marketing plan.  Read more...

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Testimonial- Alex Glass and Glazing - Nov 11, 2009

Posted by: Kevin Cattoor in Testimonials

 "Kevin has helped us develop a vision for our company.  We've adopted key strategies and reset our lending relationships to facilitate future growth of our company." 

Ron Sahli
President and Owner
Alex Glass and Glazing, Inc.

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Testimonial- Design Tree Engineering - Nov 11, 2009

Posted by: Kevin Cattoor in Testimonials

"Kevin has helped establish a new business plan that will support our ongoing aggressive growth.  He's helped us understand the revenue potential of our company and establish key strategies to maximize that potential.  With Kevin's assistance, we have established a new banking relationship that will provide the necessary funding to facilitate our growth.  He is experienced and knowledgeable and truly cares about our company."

Dan Folsom
Vice President
Design Tree Engineering Incorporated

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Do You Have a Vision for Your Company? - Oct 23, 2009

Posted by: Kevin Cattoor in Articles

I have had the good fortune to work with some great companies and started a number of businesses in very different industries- broadcasting, cable sports network, internet, software, and technology.  In every case, I’ve always established a vision for the company with my management team.  What did we want our company to look like in 3 to 5 years? 

 

Many business owners are moving so fast in this difficult business environment that they haven’t taken the time to sit back and ask “what do I want my company to look like five years from now?”  This is a pretty important question that when answered, may change the direction of how they take their company forward.  There are many components of the business plan that need to be tended to.  They include-

·        What are the key markets and strategies that you can set to insure success for your company?

·        SWOT analysis- what are your strengths, weaknesses, opportunities and threats?

·        What are the critical issues that you face and established objectives to address each of them?

·        The financial picture with income, cash flow and balance sheet projections clearly indicating the capital requirements for growth.

·        What are the possible exit strategies?

Read more...