Blog Entries

Define Your Segment Before Taking Cost Savings Actions

jwilliams@b2bcfo.com — Tue, 06 Jan 2009 00:00:00 +0100

Often, in times such as these, many advisers and business experts suggest you cut any and all costs without regard to either short term or long-term consequences. They often have this advice when an owner is looking for help in selling the company, reasoning that a sophisticated buyer won't notice the company is missing key pieces to produce prosperity.

Please do not make the mistake of listening to or thinking that the companies with the lowest expense rat [...]

IT'S THE RELATIONSHIPS

solson@b2bcfo.com — Tue, 06 Jan 2009 00:00:00 +0100

While there is some value to be gained from simply looking over the Balance Sheet, Income Statement and Cash Flow Statements, it is only by looking at the relationships among the various data elements that true insight into the health of the business can be gained. For example, the relationship of the Balance Sheet current assets to current liabilities – referred to as the “Current Ratio” - provides an indication of the company’s ability to pa [...]

DON'T IGNORE THE CASH FLOW STATEMENT

solson@b2bcfo.com — Fri, 02 Jan 2009 00:00:00 +0100

Over my years consulting with businesses, I am amazed at the number of owners who ignore the cash flow statement. Most seem to think that if the income statement shows they have been profitable, they are in good shape. A few years ago, a news article reported the closing of the doors of a business due to insolvency. The owner stated that he didn’t see it coming as the income statement showed him to be making money. Had he been reviewing a cash [...]

PLANNING THE EXIT: MAXIMIZING VALUE AND YOUR COMPANY'S FUTURE

rperrin@b2bcfo.com — Thu, 01 Jan 2009 00:00:00 +0100

Successful Business Owner:

You have worked for years and made incredible sacrifices building your company. It is your largest financial asset. However, in the next one to three years you may want to sell or transition out of your company, maximize the value you receive from it and ensure its future success so you can enjoy your retirement and other endeavors. Planning is the key to a successful exit.

B2B CFO's® have extensive experienc [...]

Cedar Crest Manufacturing, Inc.

gwiltgen@b2bcfo.com — Wed, 31 Dec 2008 00:00:00 +0100

"Glenn has been an invaluable partner in our effort to start our company. He has done and excellent job of guiding us through this process and has helped us put together a sound financial plan that we have received excellent reviews from investors. We would not be where we are without the assistance of Glenn."

David Thalacker, Vice President of Operations

Doug Miskimen, President

Five ways for small businesses to survive the economic downturn

gwiltgen@b2bcfo.com — Wed, 31 Dec 2008 00:00:00 +0100

FOR IMMEDIATE RELEASE October 20, 2008

MEDIA CONTACT Ania Kubicki, ANGLES Public Relations

480-656-8388 ania@anglespr.com

Five ways for small businesses to survive the economic downturn By Glenn Wiltgen, Partner B2B CFO®

The fallout from the economic downturn isn’t speculation – it’s coming to a neighborhood near you. This is a particular concern to the small business owner, who operates with less financial resources than larger [...]

How to Laugh in the Face of Risk

ksaddler@b2bcfo.com — Sun, 28 Dec 2008 00:00:00 +0100

The holidays are upon us. This is a good time to reflect on the year which is now nearly passed. By almost anyone's definition, this has been a challenging business year. For me, the challenges of 2008 make me think about risk and reward. Nearly every day in our business lives we face decisions that cause us to assess the amount of risk we are willing to take and balance that against the potential returns or rewards we may realize as a result of taking risks [...]

Setting the Right Pricing in any Environment

jwilliams@b2bcfo.com — Sun, 21 Dec 2008 00:00:00 +0100

In the current environment, many companies are putting pressure on their suppliers to reduce prices, extend terms, provide additional services and make other costly concessions to the customer with nothing given in return.

Many time the owner feels he or she has no choice but to comply. This, of course, is the worst decision the CEO can make. They are communicating to the customer that their goods and services are not worth what the customer has been paying and that t [...]

Finding Your Wise Men (and Women) - Building Your Team

dkirkup@b2bcfo.com — Mon, 15 Dec 2008 00:00:00 +0100

So...it's Christmas Eve at Rockefeller Center, NY. Ice skating with my 7 year old and her friends as the snow flakes fall around us. We skated around the world famous rink. Suddenly...she slipped and fell... I grabbed for her and lost my balance... and then I...fell... on top of her!! As I reached out to stop my fall... I heard the heart-breaking crunch of her nose hitting the ice...

...Four hours later I faced the music, and my wife gazed upon her 7 year old daughter's sq [...]

Testimonial - Pacific Solutions, Inc.

tmclellan@b2bcfo.com — Tue, 09 Dec 2008 00:00:00 +0100

We hired Tim to upgrade the accounting side of our software. Just reviewing Tim's notes and have to say Tim is THE MAN when it comes to testing. It's fantastic to get such precise and accurate feedback and clarity so quickly. Tim is a great resource to Pacific Solutions, the accounting side of JobRunner has already gone well past anything I had ever envisioned!

Your Company's Health and Your CFO

In a column in Business Week, Jack and Suzy Welch were asked, "[W]hich three measurements give the best sense of a company's health?" Although measurements may vary depending on the industry, the Welchs' response was, "If you're running a business, though, whether it's a corner store or a multi-product multinational, we would say there are three key indicators t [...]

Testimonial - Hygeia Corporation

fgnisci@b2bcfo.com — Sat, 06 Dec 2008 00:00:00 +0100

For the past nine years Frank Gnisci was the Chief Financial and Administrative officer of Hygeia Corporation. During his tenure, Hygeia grew from a small startup company into a midsized participant in the international healthcare market place.

It is in my sincere opinion, the significant growth and financial success of the company would not have occurred without the strong leadership and management skills that Frank contributed. He had a comprehensive un [...]

Year-end brings tax cutting opportunities for individuals and businesses

gbergmark@b2bcfo.com — Fri, 05 Dec 2008 00:00:00 +0100

December is always a busy month with a flurry of holiday and year-end activities. In the rush of events, it's easy to forget that the end of the year is also a very important time for tax planning. This year is no exception. Indeed, 2008 has been one of the busiest years for federal tax legislation. Congress not only created some new tax breaks, it also extended many others. Many of these tax incentives are temporary so if you want to take advantage of them, you need to set your plans in [...]

Testimonial - National Title & Escrow

swelsh@b2bcfo.com — Mon, 01 Dec 2008 00:00:00 +0100

�

Stu did a fantastic job for us!

�

Al DeCesaris

Managing Member

National Title & Escrow, LLC

�

Testimonial - Gawthrop Construction

swelsh@b2bcfo.com — Mon, 01 Dec 2008 00:00:00 +0100

�

Mr. Welsh has worked diligently to help guide us through difficult times in the construction market. He has helped us focus on key indicators on our financials, allowing us to better understand our cash needs and the path to satisfy those needs. Mr. Welsh has worked with us to verify the accuracy of our accounting, ultimately improving the bottom line numbers. He has implemented several cost control processes which will certainly help profitability going forward. Thank you Stuart Welsh and [...]

Testimonial - Hygeia Corporation

fgnisci@b2bcfo.com — Sun, 30 Nov 2008 00:00:00 +0100

During my tenure as Director of Arbitration Services with Hygeia Corporation, Frank Gnisci was Chief Financial Officer. He was an extremely effective executive and a key driver of growth for Hygeia. During our time together Hygeia grew from a small startup to a midsized firm. Hygeia eventually attracted the attention of United Healthcare, a leader in the health services arena, and was purchased.

I firmly believe that the sale to United Healthcare would no [...]

Low Hanging Credit - 7 Ways to Get Cash Now

dkirkup@b2bcfo.com — Sun, 30 Nov 2008 00:00:00 +0100

I hate the expression "First... go for the low hanging fruit."

I once spent six months working on a Kibbutz in the Negev Desert in Southern Israel. As a volunteer, my job was in the Date Plantation - putting huge net bags around date clusters high in the palm tree to discourage insects. Starting my day at 4 am, operating a one man "cherry picker", I could see across the desert to Aquaba in Jordan less than 2 miles away.

As the fruit ripened, the harvesting al [...]

Independent Contractor or Employee?

kcampbell@b2bcfo.com — Wed, 26 Nov 2008 00:00:00 +0100

�

A long-standing struggle between the IRS and business taxpayers�could get a bit dicier next year with the new increased Democratic majority in Congress and the�Obama administration possibly set to change the law related to proper worker classification.

Last year, President-elect Obama introduced a bill in the Senate (S.2044: Independent Contractor Proper Classification Act of 2007) that would eliminate the safe harbor�defense of "industry practice" as a justification for classif [...]

Testimonial- McKnight Insurance Group, Inc.

dwindsor@b2bcfo.com — Tue, 25 Nov 2008 00:00:00 +0100

Regarding our work with Danny Windsor, I want to first point out how his coaching as forced me to do important things that I have put off or just would not do until they were at the crisis level; which means, no crisis, no action.

So many times, I’ve had ideas that I wanted to incorporate into our company’s benefits, marketing plan or compensation structure, but somewhere between the idea and the reali [...]

Business Navigation - Setting a Course

jbateman@b2bcfo.com — Tue, 25 Nov 2008 00:00:00 +0100

The most fundamental rule of navigation is: "You must know where you are before you know which way to go." Sometimes it may seem obvious which way to go but without knowing your real position how do you know if you are heading in the right direction? Picture yourself sailing along in the Pacific on your way to Hawaii. If you thought you were just east of the islands it would make sense to sail west to get there. But if you had unknowingly sailed past the islands in the night, while [...]

Heading for the Border - 6 rules for Overseas Growth

dkirkup@b2bcfo.com — Tue, 25 Nov 2008 00:00:00 +0100

So... I'm doing 130 in my Mercedes heading for the German border.

I started that day in Ostend, Belgium and hoped to get to my destination before mid day. I've lived in the USA for nearly 25 years, so it's a real pleasure to have some free time in Europe. I was on a mission to visit my Uncle - my father's younger brother - near a picturesque little town called Rheinberg just over the Rhine from Holland. The "Interstate" remained pretty much the same as I mov [...]

Don't forget the working capital

mfoos@b2bcfo.com — Thu, 20 Nov 2008 00:00:00 +0100

Don't Forget the Working Capital

In the course of an acquisition, it's common for buyers and sellers to focus on critical deal terms such as the purchase price, earn out options, intellectual property transfers, deal structure, non-compete agreements and employment agreements. While not as obvious as the above noted issues, deal terms related to the working capital position can be critical to the successful transition of a business.

From a buyer's perspec [...]

NetSPI - B2B CFO� Twin Cities Client

ksaddler@b2bcfo.com — Thu, 20 Nov 2008 00:00:00 +0100

Attached is an article that was published yesterday in the Minneapolis Star Tribune about a local client that Rich Foster (Sr. Partner) and I share here in the Twin Cities. We already knew they were a fantastic, growing company, but now they are getting famous for their superior product. We are very proud to have a client like NetSPI!

http://www.startribune.com/business/34717539.html

NetSPI
DICK YOUNGBLOOD, Star Tribune

Business: Security consulting [...]

Testimonial-EDJ Associates

gwilhoite@b2bcfo.com — Thu, 20 Nov 2008 00:00:00 +0100

Gene�Wilhoite consulted�my firm as CFO�over a multiple year period. His ability to create effective operating processes that merged effectively with our accounting platform, significantly improved my ability to perform my functions as firm Controller. Additionally, his background in financing emerging growth firms, was very benefical in supporting our banking relationship. As relates to our principals, his guidance relative to exit strategy was incredibly helpful in strategic�business plannin [...]

You'll give me what for my company - Valuation Basics

dkirkup@b2bcfo.com — Thu, 20 Nov 2008 00:00:00 +0100

Trying to sell a house can be easy or hard. The hard way is avoid routine maintenance, fail to make improvements, not be aware of the market, not decluter and otherwise stage the home for sale and not to be willing to negotiate. The easy way is...well, I'm not in the realtor business, so the truth is there really is no easy way to sell a house. But selling a house or a business is a process and can be planned. That's why B2B CFO has a system called Finding the Exit to help business ow [...]

Testimonial - Breed Technologies

fgnisci@b2bcfo.com — Sat, 15 Nov 2008 00:00:00 +0100

I have known Frank Gnisci for over ten years. Frank was my boss at an Class A automative manufacturing company in Lakeland, Florida during a major restructuring of the company and after an acquisition that doubled the size of the business.

During my time working for Frank, he showed great leadership skills in directing the consolidation of thirty production facilities and securing $700 million of both debt and equity financing. The transaction was particularly complex because it include [...]

Congrats to the Comerica Bank Arizona Companies to Watch contest winners!

dniven@b2bcfo.com — Tue, 11 Nov 2008 00:00:00 +0100

The Phoenix-based Arizona Small Business Association (ASBA) and the Cassopolis, Michigan-based Edward Lowe Foundation have announced winners of the 2008 Comerica Bank Arizona Companies to Watch contest. ASBA and the foundation, which promotes entrepreneurship, selected the 50 winners from more than 3,000 nominees (and 300 finalists) across the state. To qualify, a company must be what they call a "second-stage" firm, defined as having 10 to 100 full-time employees [...]

Six Lessons we should have learned already

dkirkup@b2bcfo.com — Tue, 11 Nov 2008 00:00:00 +0100

Alright I admit it - the Financial Meltdown is all my fault. I could have prevented it, but I sat back and let it happen.

Let me explain.. In my life's journey from English childhood in Manchester, England to my present life as a B2B CFO partner in Atlanta I spent a number of years in Lower Manhattan.

While there, I became a member of the "Englishmen in New York" club - a very exclusive society that only met once a year to celebrate Christmas - ty [...]

Testimonial - VisionSite

scotts@b2bcfo.com — Fri, 07 Nov 2008 00:00:00 +0100

Scott started helping us about 4 months ago and has provided us with invaluable insight into our business. Scott is not only very experienced and knowledgeable, but he is unselfishly interested in helping me build my business. He is very responsive and provides the both the strategic experience and pragmatic approach that fits our need and our budget. I am thankful to have Scott's expertise available to help guide VisionSite to even greater success.

Mark Hutchinson, CEO
VisionSite [...]

President and CEO Michael A. Evans, Chorus, Inc.

rsuttles@b2bcfo.com — Fri, 07 Nov 2008 00:00:00 +0100

Randy Suttles has been a business advisor to me personally and professionally for over 20 years. His financial and general business knowledge combined with his hands-on understanding of practical operations uniquely positions him as a strategic financial and business advisor for mid-market and emerging companies and organizations. Having worked in an accounting and business advisory services firm early in his career and then having served as one of the youngest CFOs in the [...]

Live from Radio City! - All about B2B CFO

dkirkup@b2bcfo.com — Fri, 07 Nov 2008 00:00:00 +0100

Listen to two excerpts from a recent radio broadcast by Paul Shackford, a B2B CFO partner who speaks about the B2B CFO model:

Part 1

1. What does B2B CFO® do?

2. How does a CFO differ from a CPA?

3. How can B2B CFO® help with company funding?

4. How does an owner focus on their business?

5. What is the process for hiring aB2B CFO®?

Part 2

1. How does it work?

2. How much time do you spend each month [...]

Fighting the Dark Force - the 4 Rules of Deal Making

dkirkup@b2bcfo.com — Fri, 07 Nov 2008 00:00:00 +0100

Many years ago I worked on Wall Street. As CFO of a large insurance company it was my job to collateralize $1 billion in deferred cash flow Fortune 500 insurance programs - typically with letters of credit. In a constant search for a competitive edge to fight the dark force i.e. AIG, I spoke with an investment banker who suggested we look at securitization of client obligations.

I duly visited with the Securitization Guru in his mid-town lair - this was Gordon Gekko times and every [...]

What a CFO Should Be To You

jwilliams@b2bcfo.com — Tue, 04 Nov 2008 00:00:00 +0100

Many times I talk to entrepreneurs and the subject naturally comes of the CFO role in an enterprise. Often I hear that I have a great CFO who does a great job keeping the books. These people feel proud that they have filled a slot at one-half the cost of other companies. They also talk in terms of successfully controlling overhead.

In congratulating them on their success, they generally admit that the "CFO" has no formal accounting t [...]

The Sopranos - Management Lessons for the Small Business

dkirkup@b2bcfo.com — Tue, 04 Nov 2008 00:00:00 +0100

(This was a presentation I gave to a group of company owners in October. It was an offer I could not refuse.)

My wife and I were watching the Sopranos final season on CD last week and I started thinking about why we like the show. Of course there's the underlying dark comedic theme, and the realistic inside dealings of the family, as well as many New Jersey scenes familiar to me from my time there. My wife, who is in the psychology profession, pays professional attention when Tony Soprano [...]

November 2008 eNewsletter - Need More Cash?

scotts@b2bcfo.com — Mon, 03 Nov 2008 00:00:00 +0100

With the economic slowdown becoming evident across more and more industries in Oregon, this is a great time to take a look at ways to�get cash.

If you would like a copy�of this or any�past newsletters or�have suggestions for future newsletters, please�contact me.��

�

Scott Spangenberg, MBA

Partner

B2B CFO�

503.860.1340

My Email: http://www.b2bcfo.com/dniven@b2bcfo.com

My Blog: www.b2bcfo.com/partners/scotts/

http://www.b2bcfo.com/

Monthly Newsletter - Nov 2008 - How Much is My Business Worth

gbergmark@b2bcfo.com — Mon, 03 Nov 2008 00:00:00 +0100

Our Monthly eNewsletter focuses on current issues facing small and mid-size businesses. Last month, the Credit Crunch which is effecting all businesses here in the United States and around the world, was the focus of the eNewsletter. An exciting new development is the announced strategic alliance between B2B CFO and The Woodbridge Group Inc. The Woodbridge Group is an international Mergers and Acquisitions advisory company specializing in the sale of businesses with revenues of $5-100MM. T [...]

Financial Ratios

mfoos@b2bcfo.com — Mon, 03 Nov 2008 00:00:00 +0100

I recently contributed to an Inc. Magazine article devoted to the analysis of financial metrics. Click on the following link to see a copy of the article.

Inc Magazine: Quartlery Financial Report - How do you stack up?

While the focus of the article was to give business owners some base line metrics to measure performance, judging the health of a business should not be limited to whether the financial ratios are in line with the industry standards. [...]

Outsourcing CFO Services

mcampian@b2bcfo.com — Mon, 03 Nov 2008 00:00:00 +0100

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

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

All highly successful businesses have one factor [...]

Testimonial - Blue Horizon Jet Charter

teve@b2bcfo.com — Sun, 02 Nov 2008 00:00:00 +0100

I am very pleased with the professionalism that Terry Eve has brought to our company.

Mike Lee, President

Blue Horizon Jet Charter

Then Velocity!

teve@b2bcfo.com — Sun, 02 Nov 2008 00:00:00 +0100

In my last blog entry we talked about getting the direction set for the company. Vision, Mission and Business Planning coupled with a detailed financial plan/budget with metrics help the C.E.O. set course for his organization.

But now that we have set the course, how do we add velocity?

1) Tactical planning – This is where the r [...]

Testimonial - Terex Corporation

fgnisci@b2bcfo.com — Sat, 01 Nov 2008 00:00:00 +0100

As Controller, I reported to Frank in his role as Vice President of Finance at Terex Corporation. Frank's strength is that he understands the operational aspects of the business as well as the financial. He had a key role supporting the CEO in overseeing the company's diverse businesses, and he worked closely with business managers to make critical operating decisions as well as overseeing the financial aspects.

He has a great ability to get quickly up to speed in a new s [...]

Northfield Trucking Company, Inc.

mcampian@b2bcfo.com — Sat, 01 Nov 2008 00:00:00 +0100

Michael has been a trusted advisor for Northfield Trucking for over a year now. He has assisted in putting together a system to make our jobs more profitable, put procedures in place to get accurate & timely financial statements as well as facilitated in building a new banking relationship to help grow my company.

I appreciate having an outside view of my business at a cost I can afford. I would recommend Michael to any business looking for an adv [...]

Chase Bank

mcampian@b2bcfo.com — Fri, 31 Oct 2008 00:00:00 +0100

I worked with Mike Campian on a mutual client for a loan request. I provided my client with a list of information I would need to review their request.

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

It was a win-win situation, the bank was able to turn the request around quickly and the customer had access to their line of credit needs, this would n [...]

Testimonial-VistaRMS Inc.

gwilhoite@b2bcfo.com — Wed, 29 Oct 2008 00:00:00 +0100

Gene�Wilhoite supported my firm as CFO�over a seven year period. During that period Gene successfully engineered�our operating infrastructure to support a firm that doubled revenues each year over a four year period. His ability to manage our strategic support vendors, i.e. banking, auditing, legal,and insurance was paramount to our success. His guidance in process management, government contracting, and external/internal accounting�was also extremely beneficial. Last but not least, Gene lead [...]

Article: Stay Out of the Fetal Position

gbergmark@b2bcfo.com — Tue, 28 Oct 2008 00:00:00 +0100

On October 16, 2008, I attended the Buckhead Business Association Quarterly Luncheon.

The meeting was entitled "Banking in Buckhead: Solid Advice in Turbulent Times"

The panel discussion was moderated by Joe Brannen, President of the Georgia Bankers Association with Marvin Cosgray of Buckhead Community Bank, Charlie Crawford of the Private Bank of Buckhead, Pam Hubby of Georgian Bank and Doug Williams of Atlantic Capital Bank.

All these bankers emphasized th [...]

Frontier Distributing, Inc.

mcampian@b2bcfo.com — Tue, 28 Oct 2008 00:00:00 +0100

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

Mark Smith, President
Frontier Distributing, Inc.

International Quality Homecare Companies

rfoster@b2bcfo.com — Sat, 25 Oct 2008 00:00:00 +0100

Mr. Foster has been an answer to our prayers that God would help our company get out of the financial problems that threatened our business. As our business began to grow, cash became an important requirement. Mr. Foster helped us to complete our conversion to a new computer accounting system and prepare accurate monthly financial statements. At the same time, he implemented cash flow and operating budgets and helped us correct problems with the bank and the IRS. We are grateful for the servi [...]

Interview on WSRadio

pshackford@b2bcfo.com — Wed, 22 Oct 2008 00:00:00 +0100

I was recently interviewed by Barbara Weltman on her Build Your Business radio show.

We spoke about a wide range of issues facing small to mid-sized businesses, and why it is particularly important that owners have someone who can provide senior level financial advice to them.

You can listen to the interview by clicking here.

The interview [...]

Creating a Cash Flow Budget

rfoster@b2bcfo.com — Mon, 20 Oct 2008 00:00:00 +0100

As the economy dips and investors get more nervous, businesses will begin to feel the liquidity pinch. At the same time, companies with strong cash management skills can avoid some of the difficult financial times.

Cash is the lifeblood of the business and, in a down economy, only the most "cash efficient" businesses will survive. However, cash management is not for the faint-hearted. Good cash management requires self discipline to keep a steady course during the roughest of [...]

A CFO's Advice to Entrepreneurs

ksimmons@b2bcfo.com — Sun, 19 Oct 2008 00:00:00 +0100

A CFO's Advice to Entrepreneurs

Posted by Mitchell York under Interviews | Tags: B2B, B2BCFO.com, CFO, small business

I was introduced to Keith Simmons from B2Bcfo.com by my CPA. I don't often get together for a cup of coffee with a stranger, but because my accountant is someone I really trust, I decided to do it. We had no particular agenda except to see if there might be some common interests, and indeed there were. Keith is a partner in a fascinating business tha [...]

Testimonial - Single Throw

jworth@b2bcfo.com — Sat, 18 Oct 2008 00:00:00 +0100

I’ve known Joe since he became a charter member of the Financial Executives Networking Group (FENG) chapter in Ocean/Monmouth, New Jersey. He has been a loyal and valuable member of the chapter, always ready to assist other members. Unlike most FENG members, he continued to attend meetings and be of assistance even w [...]

Are You Pleased with Your Sales Force?

mgandy@b2bcfo.com — Thu, 16 Oct 2008 00:00:00 +0100

My greatest skills reside in corporate finance, business analytics, daily/weekly/monthly management reporting, and driver-based financial modeling. Yet, I've spent my fair share of time this year helping my clients evaluate, motivate, and coach their sales forces.

During some of this work, I've noticed a trend across some of these businesses relative to their respective sales forces--weak to underachieving sales performance.

In every situation, I know [...]

Testimonial - Tut Systems, Inc.

scotts@b2bcfo.com — Wed, 15 Oct 2008 00:00:00 +0100

Scott's business and financial experience were invaluable to Tut Systems. As CFO, Scott hit the ground running and accomplished many successful goals in a very short period of time. Working as a key member of the leadership team he was able to develop a strategic business plan and drive the tactical implementation of that plan. He was adept at de [...]

The Unofficial Organization Chart

mcampian@b2bcfo.com — Tue, 14 Oct 2008 00:00:00 +0100

The Unofficial Organization Chart

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

Too many business owners feel they are pulled down into administrative tasks, which takes them away from the ability to grow the company and to sta [...]

People Before Profit

ksaddler@b2bcfo.com — Tue, 14 Oct 2008 00:00:00 +0100

In these very tenuous and difficult economic times, the importance of profitability becomes tantamount. Without profit, positive cash flow, which is the life blood of business, can quickly dry up and cause significant difficulty even in basic operations. This is especially true when the availability of credit seems to be evaporating before our eyes.

Profitability is critical in the short term and in the long run. When times are challenging as they are today, we [...]

Note from Tim Jahnke of Elkay Manufacturing (former boss)

ksaddler@b2bcfo.com — Mon, 13 Oct 2008 00:00:00 +0100

I had the opportunity to work with Ken Saddler for several years while with Newell Rubbermaid Corp. For two of those years Ken functioned as CFO of Anchor Hocking Specialty Glass Company while I was President of that business unit. Ken was a key ingredient to the team that turned AHSG into a growing, profitable division for the corporation.

Ken's strengths include his technical skills in Finance, but more importantly he is a well rounded busine [...]

Turnaround That Operation

jwilliams@b2bcfo.com — Mon, 13 Oct 2008 00:00:00 +0100

Often we find ourselves in a situation where the company needs to take drastic action to survive. Many owners now feel they are in that situation and blame the economy for where they are. A recovery will not happen unless different actions occur to make it happen. Losing 10% of your equity a month and having a company boat I'm sad to say are generally incompatible. On the turnarounds I was intimately involved in, the reasons for their success were pretty similar:< [...]

The 10 Must Follow Cash Flow Rules

wfritz@b2bcfo.com — Thu, 09 Oct 2008 00:00:00 +0100

When it comes to properly managing the cash flow of your business, the best way to move from where you are now to where you want to be is to get a clear picture in your mind of the benefits you will enjoy as you take control of your cash flow.

The benefits include:

Increasing the likelihood that your business never runs out of cash. Eliminating the co [...]

Monthly Newsletter - Oct 2008 - The Credit Crunch

gbergmark@b2bcfo.com — Wed, 08 Oct 2008 00:00:00 +0100

This is the first Monthly eNewsletter, which will focus on current issues facing small and mid-size businesses.

The Credit Crunch is effecting all businesses here in the United States and around the world.

Last week, I was invited to meet with a major regional bank with operations here in the Atlanta area. They are very interested in helping their current and prospective customers improve their financial positions and reporting. With improved financial [...]

Note from Bill VanArsdale of Eaton (former boss)

ksaddler@b2bcfo.com — Wed, 08 Oct 2008 00:00:00 +0100

Ken has high intellectual rigor and is "street smart". He is quick to grasp new concepts. He is also quick to understand an issue and get to the core of a solution. One of the best I have ever seen.

Ken is great at turning business strategies into clear objectives and tactics. He got the organization at Eaton Hydraulics aligned with the strategic direction and worked to inspire buy-in and commitment to a shared vision and purpose.

Ken has high energy and passion for results.& [...]

Is Your Check Engine Light on?

scotts@b2bcfo.com — Mon, 06 Oct 2008 00:00:00 +0100

Is Your Check Engine Light on?

When we drive we take it for granted that our car dashboard is set up to tell us most of the important things we need to know to have a safe trip and arrive at our planned destination. When you look down at your car's dashboard, you can quickly determine how the vehicle is functioning and receive alerts when something's not working properly. You would likely be able to get to work or to the mall if your dashboard [...]

Glenn Wiltgen Update

gwiltgen@b2bcfo.com — Sun, 05 Oct 2008 00:00:00 +0100

Friends:

A quick update on B2BCFO:

Prior to joining the partnership, I was the CFO of Apache Hose & Belting, a $60 million distributor of industrial products located in Cedar Rapids. Since joining the partnership in March, I am providing CFO services to the following firms:

Manufacturer and distributor of sports apparelManufacturer of large industrial equipment washersAn Entrepreneurial Development Center for emerging companiesStart-up of an Energy Recovery Co [...]

Spyeglass, Inc. (Electrical Engineering and Manufacturing)

rfoster@b2bcfo.com — Sun, 05 Oct 2008 00:00:00 +0100

Mr. Foster has been a true source of business clarity for our business, both financially and strategically. He is experienced in all facets of growing and running a business and, like a good coach, helps us "toe the line" to ensure that we get the most out of our business and out of him as a resource. I strongly recommend his services to businesses, big and small!

Paul Krumrich, President

October 2008 eNewsletter - The Credit Crunch for Small Business

scotts@b2bcfo.com — Wed, 01 Oct 2008 00:00:00 +0100

In last month's newsletter I discussed growth capital and ways to help you work with your banker to successfully fund your company. In this month's issue I continue this discussion. Being prepared and knowledgeable when looking for capital to grow your business has become even more critical as we face some of the most turbulent credit markets in history.

If you would like copies of this or past newsletters or ha [...]

Fair Value Accounting and The Current Financial Crisis

kcampbell@b2bcfo.com — Wed, 01 Oct 2008 00:00:00 +0100

In light of the recent debate over fair value accounting and to what extent it contributed to the current financial crisis, below is a quick summary of the basics of the concept.

Fair Value Basics Explained*

What is fair value accounting? Fair value accounting, also called "mark-to-market," is a way to measure assets and liabilities that appear on a company's balance sheet and income statement. Measuring companies' assets and liabilities at fair value may [...]

Everything Old is New Again

jwilliams@b2bcfo.com — Tue, 30 Sep 2008 00:00:00 +0100

On August 7th, The Economist published an article titled "Confessions of a Risk Manager", which discussed the unappreciated and frustrating role of a major bank Risk Manager. While discussing the Risk Management Team's failings in missing signs that started to appear in 2005, the more troubling point of the article is the bank's attitude toward risk management in general.

There was pressure on the Risk Management department to "keep up&qu [...]

Testimonial - PyroPure, Inc.

wlorgus@b2bcfo.com — Tue, 30 Sep 2008 00:00:00 +0100

Without our B2B CFO Wayne Lorgus my company could have never handle the growth in sales we experienced in 2006 (25,000,000 to 80,000,000). His help in tax reporting to different states avoided a lot of tax penalties. He also setup our income statement to reflect the incomes from our different in-house operations which will allow us to setup budgets for each in the future.

We didn't have the budget to afford a full time CFO; thanks to B2B we got all of the benefits of having [...]

Structuring for Business Growth

rfoster@b2bcfo.com — Tue, 30 Sep 2008 00:00:00 +0100

The Danger Zone in business occurs when "the cash needs of the company greatly exceed cash availability." Although cash flow problems can occur at any point in the business cycle, there are predictable problems at each phase of the cycle which can slow the growth of a company. By anticipating some of these [...]

Banking Crises: Protecting Your Assets/Cash

asharma@b2bcfo.com — Sun, 28 Sep 2008 00:00:00 +0100

Banking Crises: Protecting Your Assets/Cash

This year over 13 banks have failed including IndyMac and Washington Mutual. The FDIC has a long list of banks on their watch list that are considered risky. This has led to major concerns regarding the safety of deposits in the financial institutions in the United States.

The FDIC insures the vast majority of the depositors that have less than $100,000 in [...]

Cash. We Help You Get It. - Line of Credit Increase

gbrisacher@b2bcfo.com — Sun, 28 Sep 2008 00:00:00 +0100

Late last year, I was successful in finding and negotiating an increased line of credit for a Consumer Based Product client.

Before I was hired, the Company was struggling with getting suppliers paid due to the strain on working capital as a result of increasing sales. The Comapny was operating with an SBA backed $350,000 line of credit that was clearly insufficient to fund their growth. Their bank was not a business bank and didn't understand my client's worki [...]

Cash. We Help You Get It. - New Equipment Loan and LOC

gbrisacher@b2bcfo.com — Sun, 28 Sep 2008 00:00:00 +0100

Last week I finalized an IT Equipment loan for approximately $180k for one of my professional service clients with a local community bank in San Diego. I was able to help them secure a favorable loan and interest rate and in comparison to some leasing options, we will end up saving a significant amount of interest over the term of the loan compared to leasing. Not only that, but the owners of the business will also benefit from a Section 179 deduction for income taxes.

&nbs [...]

The Real Organization Chart

kcampbell@b2bcfo.com — Fri, 26 Sep 2008 00:00:00 +0100

For business owners, much of the future success they will achieve or the future pain they will feel or the results of the future exit strategy from the company will be predicated by how well they are able to manage the time of all those who work within their organization. Consequently, this graph will be very important to an entrepreneur as their company grows: