Growth is good, right?

Wendy Nelson — Sun, 07 Mar 2010 05:18:01 +0100

If you are fortunate enough to find that your business has moved back into a growth phase or you are beginning to see accelerated growth in early 2010, congratulations. This is good news and could signal a reduction of the impact of the recession on your bottom line. It also means you’ve got to keep a close eye on your bank account.

Elements of Proposed Jobs Bill... Helpful or Not?

Tom Liskey — Sat, 06 Mar 2010 07:46:00 +0100

The centerpiece of the bill, a top administration priority, is a tax credit designed to encourage hiring.

Companies that bring on employees who have been out of work at least 60 days would not have to pay their 6.2% share of federal payroll taxes for the rest of the year. If the worker is still on the books in a year, the business owner would receive an additional $1,000 tax credit.

Is this enough to encourage small business job growth? Some argue that Read More...

Every Company, Regardless of its Size, Needs a Chief Financial Officer

Larry J. Strauss — Fri, 05 Mar 2010 20:49:37 +0100

Large companies employ top executives in sales, operations and finance. They provide the strategies and management expertise required to bring in customers, competitively produce the firm's products or services and provide the financial management and planning required to maximize the firm's profitability and growth.

SmaRead More...

Timely and Accurate Financial Statements

Larry J. Strauss — Fri, 05 Mar 2010 20:33:42 +0100

How Can They Help Your Company?

The preparation of timely and accurate financial statements is critical to the success or failure of a business. The Chief Executive Officer, owner, partner or a member of the senior management team of a business must review the financial statements and have a good understanding of them. Visualize a Read More...

CFO or Soothsayer?

Michael P. Landrigan — Thu, 04 Mar 2010 08:00:00 +0100

What is the difference between a good CFO and a great CFO? Maybe we should start with some basics…what does a CFO do anyway? Typically, these responsibilities fall into three general categories:

Accounting – Oversight of the Controller function. Typically the controller is responsible for the accuracy of the reporting of financial information; in other words, aRead More...

“Don’t ask the barber if you need a haircut” - Buffett.

David Kirkup — Thu, 04 Mar 2010 03:08:29 +0100

A KPMG study conducted in 2000 determined that only 17% of Mergers and Acquisitions examined created a substantial return and, even more discouraging, 53% destroyed value. Validating these findings, a six year study by Business Week showed that 61% destroyed value that existed prior to the acquisition.

Which is why Warren Buffett, in a recent shareholder letter said, “Don’t ask the barber if you need a haircut”. It was his thinly veiled dig at Wall StrRead More...

Health Care – Completing the Strategic Plan

David Alan Buslee — Tue, 02 Mar 2010 05:04:46 +0100

When an organization conducts its strategic planning cycle, close attention is paid to the sales plan, budgets and the elements of the cost of goods sold. Organizations look at the controllable costs – Material, Supplies, Labor, etc. But when it comes to benefit costs, the concept of “Planning” seems to be counter intuitive. Most organizations consider them almost uncontrollable and either “grit the teetRead More...

Control What You Can Control

Ken Saddler — Mon, 01 Mar 2010 09:38:52 +0100

Here we are in our second consecutive year of a challenging economic environment that spans almost every industry. Every day we are reminded of this with still high unemployment rates, less than hoped for corporate financial results, bankruptcies and foreclosures, low consumer confidence, etc. With this news constantly put before us, I frequently hear from business colleagues that it isn’t possible to succeRead More...

You can yell at the IRS man

Randal Suttles — Mon, 01 Mar 2010 08:00:00 +0100

Since it is tax preparation time for most of my clients, I thought a little tax story might lighten things up.

True Story: Some years ago one of my clients was undergoing a routine IRS exam. There were issues involving LIFO inventory, manufacturing costs, allowable deductions and the like. Routine stuff.

Questioning Your Balance Sheet

Ray Miller — Mon, 01 Mar 2010 08:00:00 +0100

Throughout the recent financial crisis, the strength or weakness of a company’s balance sheet has received more attention. So how strong is your balance sheet? Most entrepreneurs do not know, since they focus only on the income statement. However, creditors and investors will also examine your balance sheet. If there is one thing that we have learneRead More...

Part-time CFO vs. Interim/Temporary CFO

Grant Brisacher — Mon, 01 Mar 2010 08:00:00 +0100

I’m often asked by prospective clients, bankers, CPA’s, attorneys and other referral sources about the differences between a B2B CFO® and other temporary or interim solutions such as Tatum or similar type firms.

Usually I start out by simply stating that we (B2B CFO®) are a “long-term, part-time” solution where as Tatum or other interim solutions are a “short-term, full time solution”. After that statemeRead More...

The Role of the CFO - Chapter 2

Terry J. Eve — Sun, 28 Feb 2010 08:00:00 +0100

My last blog discussed what I would put in “My New Book” if I were to write one. This year’s Blogs will follow this theme and this month's blog deals with the topic “The Role of the CFO”.

Why does every business regardless of size need a CFO? To answer that question, we will look at the role of the CFO and relate that role to the requirements of all bRead More...

Costly mistakes to avoid when selling your business

Steven P. Schertz, CPA — Sun, 28 Feb 2010 05:48:17 +0100

Entrepreneurs who seek to maximize proceeds from the sale of their company need to be proactive in defining objectives, identifying options and developing a thorough understanding of the many elements of the sale process. Being well prepared will position your business to minimize the risks and maximize the potential rewards, by avoiding the most common and costly mistakes.

Most business owners are focused on the day-to-day challenges and activities associated with running the compRead More...

New Client Closes on $2.6 Million Bank Funding

Scott J. Spangenberg — Sat, 27 Feb 2010 04:25:23 +0100

This week I helped a new client finalize a loan package of about $2.6 million. In order to secure the best possible combination of term, rates and service I arranged interviews with several banks ranging from small and midsized community banks to several large international banks. I was able to help them secure a line of credit and a term note that will end up saRead More...

Creative Solutions

Wendy Nelson — Sat, 27 Feb 2010 04:09:00 +0100

While reports are still mixed, it does appear as though the economy is beginning to stabilize. The unemployment rate may not be declining, but it is no longer increasing, either.

According to Dave Carpenter, on 2/22: Economists expect the recovery to remain "firmly on track" over the next two years though job growth is likely to remain slow, according to a new survey. The latest outlook from The National Association for BusinesRead More...

Peace of Mind...with Effective Cash Flow management

David Kirkup — Fri, 26 Feb 2010 23:24:18 +0100

Recently I have met a number of business owners who have made a decision to run their books on a cash basis. Surprisingly, these are not “mom and pop” companies, but have revenues exceeding several $million. They explained that things had been very bad over the last few years and that this was the only way they felt comfortable managing the business.

As a CFO I don’t agree with this approach – it’s a little too much like the old jam jar accountiRead More...

The Small Business Credit Enviornment

Kevin Campbell — Thu, 25 Feb 2010 03:38:23 +0100

The NFIB Research Foundation released a report this month titled Small Business Credit In A Deep Recession. The report presented relevant data obtained from a random sample of 751 interviews of small business owners (small business was defined as businesses with 1 - 250 employees) pertaining to small business credit access.The interviews were conducted from mid-November to mid-December 2009. Some of the findings of the study were as follows:

- 55% of small businessRead More...

Financial Quicksand - What’s that sinking feeling?

Steven D. Olson — Wed, 24 Feb 2010 05:52:10 +0100

Have you ever watched an old movie in which a person is running through a swamp in an effort to escape from “the bad guys” and stumbles into a bog where he becomes stuck? Despite his determination, the more he struggles, the more firmly he is stuck. He survives only with help from outside the pit he is in - either a vine, just within reach or someone throwing him a rope. The last thing he would need is more sand and water. Yet that seemRead More...

Legal Foundations for the Future

Rick Alan Daigle — Mon, 22 Feb 2010 22:57:11 +0100

I thought I would share this article with my partners. Feel free to share with your contacts. This article was published by Ruthann P. Lacey. Ms. Lacey is a client and an attorney specializing in the legal needs of the elderly and those with special needs. Ms. Lacey is nationally recognized as an expert in these areas.

Legal Foundations for the Future

Owners of privately held businesses need to do their best to protect their wealth from many factors – one of which is the onerous Federal (and State) estate taxes. Interestingly, the Federal Estate tax has – temporarily – gone away.

In 2001, former President George W. Bush passed a sweeping tax reform which included a provision that would incrementally increase the ‘unified credit’ or the amount that anRead More...

Employed or Independent?

Wendy Nelson — Sun, 21 Feb 2010 09:44:17 +0100

There is a popular move afoot among businesses today to shift cost from fixed to variable. This allows the business to react much more quickly to changes in their environment, such as the recession.

According to associated Press writer, David Gram, The Society for Read More...

How To Change The Change Process

Philip E. Elworth — Sat, 20 Feb 2010 23:29:52 +0100

How to Change the Change Process

By Philip Elworth

Three things need to happen at the same time if you want change to occur. You need to change the situation and you needRead More...

It's a 1099 World

Jerry Mills — Sat, 20 Feb 2010 00:26:57 +0100

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&rsRead More...

Testimonial - Residential Real Estate Developer

Joanie Gable — Wed, 17 Feb 2010 07:46:02 +0100

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 Read More...

Can't Afford a CFO? This one is for rent

Joanie Gable — Tue, 16 Feb 2010 08:00:00 +0100

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 -- ThRead More...

Learning to Tweet

Wendy Nelson — Mon, 15 Feb 2010 23:24:10 +0100

Learning to Tweet

By Wendy Nelson

I just finished reading the book “Twitterville” by Shel Israel. I found this book incredibly compelling. So much so, in fact, that it prompted me to sign up for Twitter to see for myselfRead More...

100 Years of Scouting

Ray Miller — Mon, 15 Feb 2010 08:00:00 +0100

February 2010 marks the 100th anniversary of the Boy Scouts of America. When most people think of Scouting, they think of camping and knot tying. While those are part of the program, they are but a few of the tools employed to fulfill Scouting’s mission. To me, the goals of Scouting are twofold; develop the leaders of tomorrow and build the character of our youth.

Stories from the Front Lines

Christopher L. James — Sun, 14 Feb 2010 05:23:32 +0100

This week (February 2010), a very good client of mine received a letter of commitment letter from a bank for an eight figure term loan which permits a 19 year amortization (on equipment!). Another client of mine, for the first time, is seeing what their cash flow is predicted to do over the course of the next thirteen weeks. Read More...

Listen to the Customer, Everybody Wins!

Michael P. Landrigan — Fri, 12 Feb 2010 08:00:00 +0100

“Mike, you know, we were talking about it the other day and we aren’t even the same company we were when we first met you last year. Dave (operations manager) told me that if we hadn’t made these changes over the past year, we wouldn’t even be able to meet our customer demand today.”

I have to admit, when I look back on it, the changes over the pastRead More...

Seven Deadly Sins

Stuart Lipkin — Thu, 11 Feb 2010 01:25:22 +0100

Operating a successful business in today's economic times is difficult, even for a well-managed company. Now, add the complexity of the worst recession since the Great Depression. It is no surprise that commercial bankruptcies, among the nation's more than 25 million small businesses, have increased by approximately 44% from the third quarter of 2008 to the third quarter of 2009, according to Equifax Inc. So what is a business owner to do? Avoid these SEVEN DEADLY SINS!

Cash Flow. "CashRead More...

Gross Profit Optimization

Rick Perrin — Wed, 10 Feb 2010 12:24:41 +0100

IMPROVE YOUR PROFITABILITY

Gross Profit (or gross margin) is a very important financial measure in almost every type of company. It is the profit from sales before administrative, sales and marketing expense, interest and other expense.

It is important to focus on Direct Margin as a component of Gross Profit:

Direct marginRead More...

Snowstorm Stimulus - Is your Business prepared?

Wendy Nelson — Wed, 10 Feb 2010 08:00:00 +0100

I was reading my Twitter updates (Tweets) this morning and came across the following WSJ blog by Kelly Evans:

As noted yesterday, the Mid-Atlantic blizzard is likely to impact jobs reports, but the weather isn’t likely to have as large an impact on gross domestic product this quarter, which foRead More...

Edison’s Impact on Business

Ray Miller — Wed, 10 Feb 2010 07:39:17 +0100

February 11 is the birthday of one of America’s greatest entrepreneurs; Thomas Alva Edison. While best know for his invention of the electric light bulb, and to a lesser extent the phonograph and motion picture, his real legacy lies in the business arena. Like his best friend, Henry Ford, he changed the way industrial companies operated.

Implementing FishBowl Inventory in a Manufacturing Business

In November 2009 I was hired to select and implement a business application in a Paint Manufacturing business. For the prior 15 years the company had used QuickBooks but had never gotten the training or consulting help to set up their inventory itemRead More...

Cost cutting is a dead end strategy

John Williams — Tue, 09 Feb 2010 08:37:22 +0100

Steve Jobs said it all; “A lot of companies have chosen to downsize, and maybe that was the right thing for them. We chose a different path. Our belief was that if we kept putting great products in front of customers, they would continue to open their wallets.” This from a CEO whose company recently hit an all time high in stock price, in a severe recession.

Testimonial From Premier Pneumatics, Inc.

Gary Lee — Tue, 09 Feb 2010 08:00:00 +0100

Gary is dedicated, hard working, competent, discreet and honest as the day is long. During the seven years Gary Lee worked for me at Premier Pneumatics he was a most important part of my management team. He ran his department efficiently and effectively as he worked to solve problems and improve processes across departmental boundaries. He made himself invaluable from the beginning by working with the existing ERP and mainframe vendors to upgrade, at minimal cost to Premier, a computing systeRead More...

Are You Happy with Your Company's Financial Performance?

Brian E. Christian — Sat, 06 Feb 2010 11:33:52 +0100

It’s a leading question, I know. You may be, and you probably have good reason to feel that way. After all, at this time of year:

· You have reviewed your previous year end internal financial statements and compared them to the industry averages aRead More...

Testimonial from Internal Control and Anti-Fraud Experts, LLC

Ken Saddler — Sat, 06 Feb 2010 03:58:27 +0100

I have had the pleasure to work with Ken on multiple clients, each time in our respective areas of expertise. It’s a pleasure to work with Ken because of his client focus, attention to detail, short and long range thinking, excellent communication style and team participation. His focus on service delivery is unmatched by any other CFO I’ve worked with. Ken brings leadership strength to every project and an enthusiasRead More...

Performance Measurements

Robert M. Glickman — Sat, 06 Feb 2010 01:38:47 +0100

Financial statements are created to give business owners and stakeholders insight into the financial condition of their business. Performance measurements and ratio analysis help us analyze financial statements and identify financial trends in the business. Ratios also allow you to compare your company's current data to the company's historic financial performance, financial goals as well as other companies' results. They are typically expressed as a percentage, multiple, or a dollar amRead More...

Preparing the Business for Sale

Doug Wurmnest — Thu, 04 Feb 2010 11:02:43 +0100

Over the past few years, I have been involved in a number of transactions involving the purchase and sale of businesses. The process for each transaction is very similar, the owner decides that it time to sell. Usually with the assistance of an advisor, they put together a summary of the business, several years of financial statements, and a few key documents. The advisor markets the business and receives a non-binding letter of intent or indication of interest. Then the real action begins- tRead More...

B2B CFO Strategic Partner Closes Sale of WETLabs

George H Bergmark — Wed, 03 Feb 2010 07:55:16 +0100

Woodbridge Group Closes Sale of WETLabs Inc.

Tuesday, February 2, 2010

Woodbridge Group is pleased to announce the sale of its client, WETLabs, Inc. to an undisclosed strategic buyer.

WETLabs is an Oregon-based manufacturer of underwater instrumentation products that measure optical properties oRead More...

The Newly Proposed Small Business Lending Fund

Kevin Campbell — Wed, 03 Feb 2010 04:23:46 +0100

The President has called on Congress to create a new Small Business Lending Fund that will transfer $30 billion from the Troubled Asset Relief Program (TARP) to this new program to support small business lending. The proposal would be to use the Small Business Lending Fund to offer government capital investments to community and smaller banks with an incentive structure to support new small business lending.

The program would be available only to banks with assets under $10 billion. TheRead More...

The Psychology of a Corporate Turnaround

Robert Wabler — Wed, 03 Feb 2010 02:27:46 +0100

The Psychology of a Corporate Turnaround

&nbRead More...

Six Steps To Selling Your Business

Frank J. Gnisci — Tue, 02 Feb 2010 08:00:00 +0100

If you're a typical small business owner, you spend more of your time working on today's issues than tomorrow’s potential. That may keep the doors open for now, but what about when you're ready to retire, or no longer have the will or energy to run your business?

As mid to large businesses grow, owners typically realize they'll need to find a way out, but most small business owners do not have an exit strategy. Rather than simply selling inventory and closing the doors, the suggRead More...

WALL STREET JOURNAL’S COMPLETE SMALL BUSINESS GUIDEBOOK

Randal Suttles — Mon, 01 Feb 2010 08:00:00 +0100

FOR IMMEDIATE RELEASE

MEDIA CONTACT

Ania Kubicki

ANGLES Public Relations

480-656-8388

E: b2bcfo@anglespr.coRead More...

Consumate professional...

David Kirkup — Sun, 31 Jan 2010 01:27:32 +0100

David has the uncanny ability as a financial officer to think outside the box to help his clients be more successful. He is very quick to pick up on potential new methods that translate into bottom line advantages. He is the consumate professional, bright, and an asset to any company in need of either strategic or tactical financial help.

Norman Meullen CEBS Fellow, President, Benefits Retain People, LLC

Clear understanding of product line profitability...

David Kirkup — Sun, 31 Jan 2010 01:25:53 +0100

As owner of a small service company, I have had to analysis and stay on top of my numbers in this harsh economic climate. David met with me several times and offered great advice that I now use in my company daily to have a clear understanding of profit by product line, cash flow analysis and integrating my softwares to allow me to be able to efficiently stay on top of these money issues. I would highly recommend David services.

David Neel Mobile Glass USA President

Top qualities:Read More...

Top notch CFO...

David Kirkup — Sun, 31 Jan 2010 01:24:29 +0100

David is an asset to any company looking to outsource their CFO responsibilities. He is hard working and focused on providing the best direction for your company to excel - helping you make the right decisions based on your financial strength of your company. I have seen him at work and was very impressed. He is always professional and a Top Notch CFO.

Michael Dahlhauser, Owner, Astila Corporation

Cost control and increased market reach...

David Kirkup — Sun, 31 Jan 2010 01:23:15 +0100

Dave was instrumental in helping us with ideas on how to control costs and increase market reach without increasing investment. His insight into the financials was extremely helpful in identifying spending gaps, ROI, and future investment optimization. Moreover, his grasp of the business, his demeanor and his candor made him even more of an asset to our division. It was truly a pleasure working with him. With Dave’s help, we were able to easily identify non-strategic spending and realloRead More...

Talented Executive...

David Kirkup — Sun, 31 Jan 2010 01:21:27 +0100

“David is a talented executive that I greatly enjoyed working with. David exhibits the rare strength of pragmatism and analytical rigor. I strongly endorse David.”

Robert Covington,

CEO, Firstdoor CEO

Principal at The Stephens Group

Meets Client needs with proactive solutions...

David Kirkup — Sun, 31 Jan 2010 01:20:12 +0100

It was a pleasure to work with David; he is a very knowledgeable, innovative professional. I worked with David in different roles at Willis and he always does his homework and is prepared to meet clients' needs by delivering a proactive solution.”

Anjanette Simone, Senior Vice President, Employee Benefits, Willis

Testimonial: Matheson Tri-Gas

Ray Miller — Fri, 29 Jan 2010 08:00:00 +0100

“I found Ray to be a very experienced and competent financial professional, with a broad base of knowledge across the full spectrum of financial disciplines. More importantly, Ray was extremely conscientious in all of the work that he did to support my business. In fact, Ray became an integral member of my management team. Based on my experience with Ray, I am quite sure that he would do an excellent job as a B2B service provider and I recoRead More...

Directly Resulted in Increased Revenues

David Kirkup — Fri, 29 Jan 2010 07:22:44 +0100

I would highly recommend David to any company looking for guidance in the financial area of their business. He did some consulting for our company and in a few short hours gave us a procedure to more accurately bill for our services, directly resulting in increased revenues. David and I have also worked with mutual clients and I have had the opportunity to observe his professionalism and industry expertise in a real world environment.

Paul Mancini, SVP, Clear Choice Telephones

Strategic thinker in all facets of business

David Kirkup — Fri, 29 Jan 2010 07:17:37 +0100

David was instrumental is helping build a company that Enwisen acquired. David continued to help drive the combined company to success in a difficult economy and competitive marketplace. I would highly recommend David for his knowledge in the accounting area, but also as a strategic thinker in all facets of business

Wally Smith, CEO, Enwisen, Inc.

Company has grown stronger...

David Kirkup — Fri, 29 Jan 2010 07:16:24 +0100

David works as a contract CFO at a client for which we offer audit services. David has provided great benefits by assisting the company and training them to focus on cash flow and other operating dynamics essential to the Company's business. He has enabled them to implement policies and scorecards that help them focus on crucial factors for moving the business forward. As a result the company has grown stronger even in today's poor economic environment. He is truly an asset to the
Read More...

B2B CFO IN WSJ GUIDEBOOK

Jerry Mills — Thu, 28 Jan 2010 10:36:54 +0100

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. 29tRead More...

My New Book - Chapter 1: The difference between Finance & Accounting

Terry J. Eve — Wed, 27 Jan 2010 11:03:18 +0100

I had a restless night the other night and the recurring thought was to write a book to entrepreneurs about small business finance and accounting. I also had some cutesy title, that I can not recall. But that got me thinking, if I was to write such a book, what would be the content?

So my blog for 2010 will cover some of the topics in my “new” book as they relate to the entreprenRead More...

The Rot Spreads - Business Fraud

David Kirkup — Wed, 27 Jan 2010 08:00:00 +0100

Desperate times lead to illegal measures

A former bookkeeper for a small insurance broker in Georgia was recently charged with stealing more than $1 million to pay for trips and shopping sprees. Credit card bills showed she traveled to Disney World, New York, Washington, Honolulu, New Orleans, San Francisco, Lake Tahoe, and (of course) Las Vegas. She apparently under-booked revenue invoices to create a secret fund of excess cash, and then forged checks to siphon off tRead More...

Testimonial - KO Floor Supply

Tom Azzarelli — Wed, 27 Jan 2010 01:36:36 +0100

I just wanted to tell you what an incredible asset you’ve been to our business. While my husband & I had a vast industry knowledge, we had never run our own business and didn’t have any accounting and finance background. Having you help set up our books and get things categorized properly has been very helpful. Your assistance with creating budgets & keeping track of our performance and cash flow has been invaRead More...

Manage your CASH! Avert a CRISIS!

Tom Azzarelli — Wed, 27 Jan 2010 01:00:11 +0100

I’ve heard the great recession is over. Try telling that to a small business owner struggling to meet his payroll or pay his suppliers. The great recession of 2009 has caused a lot of pain for many businesses and caught many of them unprepRead More...

7 Ways to Get More Cash Now

David Kirkup — Mon, 25 Jan 2010 08:00:00 +0100

Cash... we help you get it. It's the B2B CFO slogan and we like to think it's a "twofer" slogan. We help you understand cash flow and why it's important, and by improving every aspect of your company's financial performance we make you a better candidate for investment and loan financing.

So how do you understand cash flow? Let's take a look at seven main drivers of cash flow:

Accounts Payable and Cash Flow. Every business relies on suppliers and trading partners tRead More...

3% Withholding on Federal Government Contractors Coming 2012

Gene M. Wilhoite — Mon, 25 Jan 2010 00:45:57 +0100

Most of the individuals that receive my newsletter are either directly or indirectly involved with the procurement processes of our federal government. In accordance with this I am bringing an issue to your attention which is not fruitful for the prime contracting community. There is current legislation in place, effective January 1 2012, that will require the federal government to withhold 3% of all payments made to prime government contractors for contract services and goods provided. TRead More...

True North

Philip E. Elworth — Sun, 24 Jan 2010 23:30:46 +0100

True North

What do you think of when you hear the term true north? The technical definition refers to the line up the earth that takes you directly to the North Pole. A compass on the other hand points you to magnetic north. So which is correct? How do you know where you are going? I would like you to consider another definitionRead More...

Ten Steps to Financial Excellence

David Kirkup — Thu, 21 Jan 2010 08:00:00 +0100

Many small and mid-sized companies have basic accounting systems. They have a book-keeper, maybe a Controller. They have an accounting system - probably QuickBooks, or possibly a more advanced product. What they usually don’t have - and what for many is a major weakness - is a coordinated Financial Process. Jim Collins, entrepreneurial author and guru, says there are plenty of great mousetraps but not very many great processes Read More...

It's Never Too Early Or Too Late For Strategic Planning

Julie R. Delgado — Wed, 20 Jan 2010 08:00:00 +0100

Running a business that lacks strategic planning is like driving with your eyes closed. You may be making rapid progress but the first curve in the road will spell disaster. Proper planning is the difference between business success and failure.

Start Planning Early

The time to start strategic planning is before the business even exists. Yet too many entrepreneurs dive headfirst into the next "big thing" without any real idea of what the future Read More...

The Sopranos - Management Lessons To Die for

David Kirkup — Wed, 20 Jan 2010 08:00:00 +0100

(This was originally a presentation I gave to a group of company owners. It was an offer they could not refuse. This article was first published in 2008 and is back because I'm a believer in re-cycling.)

My wife and I were watching the Sopranos final season on CD 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 thereRead More...

What does a CFO do?

James E. Bateman — Tue, 19 Jan 2010 10:37:49 +0100

Curiously, I found that one of the most common questions I had last year from prospective clients was, “What does a CFO do? ”. I suppose I shouldn’t be surprised as it is it is an overused title applied to broad range of people from bookkeepers in small companies to senior executives of multi-billion dollar corporations.

Take a strategic approach to opportunities in the improving market.

In less than a year, the Dow Jones Industrial Average has moved from 6,500 to over 10,000. Does this mark the beginning of an economic recovery? If so, as a business owner how should you plan? Will the recovery be a return to business as usual, or was the recent crash the resulRead More...

Do YOU budget?

David Kirkup — Mon, 18 Jan 2010 08:00:00 +0100

Why should you budget? Because “it’s something we do every year,”or is it a “big stick we use to cane those who don’t perform.” Is this really the intended purpose of budgeting?
How about “we budget in order to achieve our strategic goals”?

Budgeting is part of a larger process called “performance management.” Performance management is a logical approach to the way organizations direct and manage rRead More...

Inventory - The Big Cash Drain - Asset or Liability?

Grant Brisacher — Mon, 18 Jan 2010 08:00:00 +0100

When working with new clients and/or prospects that sell or carry inventory, I always ask the owner(s) how quickly their inventory turns. Without hesitation, most reply 6 to 8 times per year. Then I ask them how they calculated or arrived at that number. The universal answer is "I just know". Maybe correct or more likely, probably not. I believe most of them are simply calculating their annual sales and simply dividing by their average inventory.Read More...

Don't Let the Lessons of 2009 be Wasted

John Williams — Sun, 17 Jan 2010 09:11:32 +0100

Many of us are elated to see New Year’s Day 2010 appear. The economy was dreadful, too many people lost their jobs, medical costs skyrocketed and local government spending and services suffered. Many business’ results reflected the difficult economy and those business owners would rather forget the difficult periods and concentrate on 2010.

But before you throw last year’s calendar into the archive, take time to study the activity you so diligRead More...

Testimonial - Prime Graphics Inc.

Tom Liskey — Fri, 15 Jan 2010 08:00:00 +0100

Tom served as my controller/ CFO at my company for over 12 years. Tom has a very hands on approach, he provided valuable guidance and direction on financial, strategic and IT issues that possitively impacted the growth of the company. He helped plan and execute the plant relocation and advised and assisted in the purchase of a key competitor. Tom provided reporting to thRead More...

Financial Management is not like a Personal Trainer

Kevin Cattoor — Thu, 14 Jan 2010 03:58:49 +0100

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. Read More...

The Four Cs of Social Media

David Kirkup — Wed, 13 Jan 2010 08:00:00 +0100

In 1998 a company web site was considered slightly cutting edge and cool. But, not important enough to hire a professional, especially when Uncle Billy's high school son Dexter could build one for you. Almost imperceptibly, web sites went from "nice to have" to compulsory over the next few years.

You may have heard much talk about social marketing: Linked In, Twitter, Facebook, Blogs etc, and decided it's nice to have. Today I read an interesting article that makes thRead More...

Strategic Planning Focuses Your Results

Julie R. Delgado — Wed, 13 Jan 2010 08:00:00 +0100

In today's highly competitive business environment, the strategic planning of any business can be an opportunity for an in-depth business organization planning. Effective strategic and mission planning are crucial considerations to ensure a planned pattern of growth for your company business. It requires a careful analysis of the things that shall carry out the business.
How do you reach your goals and make a big impact in the business society? Strategy is the answer. It is the keRead More...

Budgets - Why Do We Create Them and Then Forget Them?

Albert L. Christensen — Tue, 12 Jan 2010 07:03:40 +0100

Too many business people are - to say the least - skeptical about putting together a budget. Some of the skepticism comes from past experiences where they have been beaten by management for non-performance of budgets. Or the reporting requirements have been so demanding, the real tasks of productive employment goes out the window while they run through the hoops in order to get management off their backs.

But if the&nRead More...

Are You Managing Your Cash Or Is It Managing You?

Johnny C. Gates — Mon, 11 Jan 2010 09:23:25 +0100

ARE YOU MANAGING YOUR CASH OR IS IT MANAGING YOU?

By Johnny Gates

I recently saw a survey concerning the degree to which business owners are managing their cash flow. The results might be surprising to many in that only 20% of business owners felt they were in control of their cash flow. This means that over 80% of owners manage their business without having the necessary control over cash. Unfortunately the lack of financial control of your businesRead More...

Preserving Your Reputation for Your Next Venture

Steven P. Schertz, CPA — Mon, 11 Jan 2010 02:14:29 +0100

In mid 2009, Elaine Pofeldt, a reporter for Crain's Small Business Magazine, contacted me regarding an article she was developing about small business owners who try to sell or close their businesses. The article entitled "Preserving Your Reputation for Your Next Venture" was published on Friday, January 8, 2010. Elaine differentiates closing a business from other forms of exit such as filing for bankruptcy protection.

For the small business owner, it is imperative that prior to clRead More...

Got Goals?

Michael P. Landrigan — Fri, 08 Jan 2010 08:00:00 +0100

"I've always felt it was extremely important to set goals for yourself. After the 1967 season, our entire staff was fired at South Carolina where I was an assistant. My wife bought me a book entitled The Magic of Thinking Big by David Schwartz. So I sat down and made a list of all the things I still wanted to accomplish in life, and there were 107 of them. Some of them involved Read More...

Ready for the Upturn?

David Kirkup — Fri, 08 Jan 2010 08:00:00 +0100

As the storm clouds of recession appear to be on the wane, there are more stories of optimism and growth. Many businesses will grow and thrive during the rebound - taking advantage of the fall out in their industries, attractive input pricing and the needs of their customers. So how can you position your company for growth in 2010?

1) Focus on your customers

Your customers are the reason you exist in the first place. If you are not spendRead More...

A Penny for Your Thoughts

Stuart Lipkin — Thu, 07 Jan 2010 22:33:16 +0100

As most business owners have come to realize, many inefficiencies can (and probably will) develop during booming times when a Company is focused on sales growth versus cost containment. Expenses become secondary as long as the products/services are delivered to the Customer. The recent recession has taught business owners and managers that the reduction and control of expenses is the key to survival. As reflected by the Unemployment Index, the first reactioRead More...

The Importance of Your Bank Relationship

Robert M. Glickman — Thu, 07 Jan 2010 02:33:34 +0100

The Importance of Your Bank Relationship

Today, more than ever, a business owner must carefully choose the bank that best fits their business needs. A bank should be more than a safe place to deposit your checks, maintain your excess cash, and help you pay your bills. Your bank should simplify your cash management processes, give you access to capital, and be there fRead More...

2010 – Roth IRA's Profile to Increase Dramatically

Steven P. Schertz, CPA — Wed, 06 Jan 2010 22:08:26 +0100

Amper, Politziner & Mattia wrote the article below about traditional and Roth IRA's. Retirement planning is something that individuals should review annually if not more so. We are not as diligent as our parents who saved for their retirement with a vengeance. Also, we will require more resources and capital in our retirement. Accordingly, effective tax rates on our retirement income may be higher than our parents.

The following article addresses traditional and Roth IRA's.

The Long Goodbye

John Williams — Wed, 06 Jan 2010 07:19:03 +0100

You look at that business you have nurtured over so many years. You have given you blood, sweat and tears to make it successful. Now you look at the product of your work and realize that it is time to think about letting it go.

How do you do this? Who will take the same care of the business that you have giveRead More...

Back To Basics

Frank J. Gnisci — Mon, 04 Jan 2010 08:00:00 +0100

We are all feeling the pressure of a long and harsh recession. We see it in the news every day; we see long-established companies go out of business as we feel the effect of the equity markets and our shrinking investment portfolios. Many companies are in survival mode. So, what can business professionals do? I believe it is time to get back to basics. This is the time for companies to look inside and ensure that the fundamentals of running theirRead More...

Go Team!

Gary Lee — Mon, 04 Jan 2010 08:00:00 +0100

During winter each year, football fans everywhere are hoping their favorite football team wins the championship. I can’t tell who will win the college or pro bowl games in any given year, but from my days of playing, I can tell you what type of team will win.

This is not my first rodeo

Randal Suttles — Fri, 01 Jan 2010 08:00:00 +0100

It wasn’t mine either. “This is not my first rodeo” is a quote from one of my clients. It is a quote worth remembering. Here is the context:

My client is a 50+ year old manufacturer of metal components. They supply components for large turbines, locomotives, and diesel engines. You get Read More...

Who was watching the books at Koss?

David Alan Buslee — Wed, 30 Dec 2009 12:02:33 +0100

The previous article “Who is watching YOUR Controller” foretold the current situation at Koss. For those of you not in Milwaukee, or who are not shareholders of Koss, here is a synopsis of the situation as it stands currently. It is alleged that Sujata “Sue” Sachdeva , the now former Vice President of Finance of Koss Corporation, allegedly embezzled some $4.5 million in funds from Koss Corporation,Read More...

Manufacturing Perks Up

David Kirkup — Wed, 30 Dec 2009 08:00:00 +0100

I am sure that many of you have a subscription to the Tool and Pipe Journal, but for those who may have missed it, I highly recommend this article on the outlook for manufacturing. More good signs for Manufacturing. It highlights some of the leading indicators that may bring some sunshine in 2010. In summary:

The PMI, an index compiled by the Institute for Supply Management, broke through 50 percent in August. It was a huge relief. It had been below 50, indRead More...

Planning for Your Exit Despite this Tough Economy

Jane Johnson — Tue, 29 Dec 2009 08:00:00 +0100

It was recently said that talking to business owners about long-term planning in today’s economic environment is a bit like a doctor telling a critically wounded patient in an emergency room that ‘they need to exercise more and watch their diet to be healthy’. Of course, the emergency room patient is focused on his or her short-term needs, such as fixing whatever put them in the emergency room so that they can go into a reRead More...

Rotarian Magazine - Jan 2010 - George Bergmark on Business Plans

George H Bergmark — Sun, 27 Dec 2009 05:24:04 +0100

Nothing exposes a weak business plan like a down economy. But how do you develop a better strategy? For 27 years, George Bergmark, a member of the Rotary Club of Sandy Springs, Ga., USA, managed the finances of emerging and midsize companies. He’s now a partner at B2B CFO in Georgia, where he teaches clients how to maximize profits. For the entire article, click below:
http://www.rotary.org/en/MediaAndNews/TheRotarian/Pages/UF_bergmark1001.aspx

For a PDF Copy of thRead More...

Rick Tessier, Controller, Innovative Mold Solutions

Frank M Mancieri — Wed, 23 Dec 2009 02:53:57 +0100

Frank has been very helpful in establishing and maintaining our Company’s new banking relationship. He has also been instrumental in improving both our internal and external financial reporting systems. Frank’s interpersonal style makes problem solving an effective and rewarding experience for myself and ultimately the organization. I highly recommend Frank for any business solutions you may need.

Rick TeRead More...

Testimonial - Pepper Viner Management Co.

Donald Lundbom — Wed, 23 Dec 2009 02:51:02 +0100

“Don’s strategic approach and attention to detail was just what we needed in our period of rapid growth. The application of key performance indicators enabled us to objectively measure our organizational progress and quality improvement initiatives in our construction and development activities.” - Bill Viner President & CEO, Pepper Viner Management Co., Tucson, AZ

The Essence of Financial Management

David Kirkup — Tue, 22 Dec 2009 08:00:00 +0100

Well managed companies employ many tools to optimize financial performance, some of which can be very sophisticated. However, most of these techniques these fall within three key areas: accurate financials, adequate internal control and proactive management.

Invariably, companies that under perform their peers or experience fraud or some other catastrophe will have failed in at least 2 of these categories. And the price of failure can be harsh. Read More...

The Benefits of a Debt Free Company

Ken Saddler — Mon, 21 Dec 2009 10:29:18 +0100

How much debt financing is right for a business? In today’s low cost money environment, the ‘easy’ answer might be “as much as you need” because it is inexpensive (depending on a company’s financial situation). However, the credit environment has tightened significantly during the past two years due to the stress that has been placed on the financial markets. Low cost monRead More...

Year End Business Dreams and Realities

Joanie Gable — Sun, 20 Dec 2009 12:20:35 +0100

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 necesRead More...

Budgeting Full Cycle – Completing the Task!

Michael P. Landrigan — Fri, 18 Dec 2009 08:00:00 +0100

Once a budget for revenue and expenses for the year is established (see last month blog, Flexibility-The Key to Sound Budgeting), I strongly recommend that you continue on and also budget for balance sheet items. To be honest, there was a time in my career that I viewed trying to budget assets and liabilities as a tremendous waste of time, and if the budget was stagnant and we missed our sales targets, it was! However, using flexRead More...

Testamonial - Chamberlain Reseach Consultants - Madison, Wisconsin

Rick Perrin — Fri, 18 Dec 2009 05:20:45 +0100

“Rick is a god-send. Chamberlain gets a top notch CFO at less than full time who has helped us analyze and understand our profitability drivers and helped us implement changes to increase our bottom line. He also brought our monthly accounting processes in-house and trained our accountant. He continues to act as a trusted advisor to the company. When we need Rick, he is there and when we don't, he isn't. We're happy to pay for the great advice he gives.”

Exit Planning - Do it Right the First Time

David Kirkup — Thu, 17 Dec 2009 08:00:00 +0100

All business owners can expect to exit at some point. You should begin to lay the groundwork for such a transaction long before the actual sale. Proper planning and execution at each stage will lead to clearer objectives, higher value and fewer obstacles at settlement

Some best practices and considerations in planning your exit:

Strategy - Determine the key factors that might impact the execution of the sale transaction. Answer the following questions, amonRead More...

Blog entries

Accountability – the third leg in the Annual Plan

Growth is good, right?

Elements of Proposed Jobs Bill... Helpful or Not?

Every Company, Regardless of its Size, Needs a Chief Financial Officer

Timely and Accurate Financial Statements

CFO or Soothsayer?

“Don’t ask the barber if you need a haircut” - Buffett.

Health Care – Completing the Strategic Plan

Control What You Can Control

You can yell at the IRS man

Questioning Your Balance Sheet

Part-time CFO vs. Interim/Temporary CFO

The Role of the CFO - Chapter 2

Costly mistakes to avoid when selling your business

New Client Closes on $2.6 Million Bank Funding

Creative Solutions

Peace of Mind...with Effective Cash Flow management

The Small Business Credit Enviornment

Financial Quicksand - What’s that sinking feeling?

Legal Foundations for the Future

Employed or Independent?

How To Change The Change Process

It's a 1099 World

Testimonial - Residential Real Estate Developer

Can't Afford a CFO? This one is for rent

Learning to Tweet

100 Years of Scouting

Stories from the Front Lines

Listen to the Customer, Everybody Wins!

Seven Deadly Sins

Gross Profit Optimization

Snowstorm Stimulus - Is your Business prepared?

Edison’s Impact on Business

Cost cutting is a dead end strategy

Testimonial From Premier Pneumatics, Inc.

Are You Happy with Your Company's Financial Performance?

Testimonial from Internal Control and Anti-Fraud Experts, LLC

Performance Measurements

Preparing the Business for Sale

B2B CFO Strategic Partner Closes Sale of WETLabs

The Newly Proposed Small Business Lending Fund

The Psychology of a Corporate Turnaround

Six Steps To Selling Your Business

WALL STREET JOURNAL’S COMPLETE SMALL BUSINESS GUIDEBOOK

Consumate professional...

Clear understanding of product line profitability...

Top notch CFO...

Cost control and increased market reach...

Talented Executive...

Meets Client needs with proactive solutions...

Testimonial: Matheson Tri-Gas

Directly Resulted in Increased Revenues

Strategic thinker in all facets of business

Company has grown stronger...

B2B CFO IN WSJ GUIDEBOOK

My New Book - Chapter 1: The difference between Finance & Accounting

The Rot Spreads - Business Fraud

Testimonial - KO Floor Supply

Manage your CASH! Avert a CRISIS!

7 Ways to Get More Cash Now

3% Withholding on Federal Government Contractors Coming 2012

True North

Ten Steps to Financial Excellence

It's Never Too Early Or Too Late For Strategic Planning

The Sopranos - Management Lessons To Die for

What does a CFO do?

Do YOU budget?

Inventory - The Big Cash Drain - Asset or Liability?

Don't Let the Lessons of 2009 be Wasted

Testimonial - Prime Graphics Inc.

Financial Management is not like a Personal Trainer

The Four Cs of Social Media

Strategic Planning Focuses Your Results

Budgets - Why Do We Create Them and Then Forget Them?

Are You Managing Your Cash Or Is It Managing You?

Preserving Your Reputation for Your Next Venture

Got Goals?

Ready for the Upturn?

A Penny for Your Thoughts