(480) 397-0590

Want a Career?

Find a CFO

223 partners in 45 states
     6,755 years experience

Find a CFO by zip code

Find a CFO by name

Free Business Resource

Fill out the form and receive for FREE The Discovery Analysis (a $1600 value)





Privacy policy

Rhino Surgery At Rockefeller

Dec 15, 2008

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 squashed face in horror. What..to.. do?... at 6 pm... on Christmas Eve??

Fortunately we had many medical friends in our small community, so I meekly suggested we consult with them. My wife agreed.  John, the English Psychiatrist told us to "retain the best Cosmetic Surgeon and immediately get her into surgery".... Ernst , the German Cardioligist, said "don't worry it will fix itself - and if not.. not to worry." Lewis, the Urologist recommended we take a "wait and see approach".

So we waited ...

Lessons?.... Surround yourself with experts!

First, you need a good attorney. Most people don't hire an attorney till they have some type of trouble. That's not wise! Look for a good business attorney who can advise you properly on a wide range of business subjects: contracts, employee relations and any other legal issues before they become a problem. The attorney's job is to advise you so you can make the right decisions to prevent you from having legal problems with your business.

Second, you need a CPA - certified public accountant. Not just someone who is going to do your tax returns but someone who is going to use the tax law to ensure you legally take every deduction available, and who can advise you in areas of tax planning, so you can pay the least amount of income tax possible.

Third, another member of your team should be the insurance agent. A good insurance professional will guide you in buying the right insurance for your business with the right coverage. They will periodically review your coverage and make sure you have the best combination of rates and limits.

Fourth, know your banker.  Build a strong relationship with them so when you need a business loan you already have credibility. Provide financial updates, show the bank you do cash flow projections, have timely and accurate financials and that you are a good risk.

And finally, perhaps the most important person to consider is your CFO. Someone who is highly experienced and used to maximising profitability and the value of your business - and who can help run your team of experts. Every business needs a Chief Financial Officer - without one you are at a significant competitive disadvantage. Cost has always been a prohibitive issue in the past. Fortunately, you can now hire a B2B CFO® who can bring a wide range of experience and knowledge to advise you in and help build your company.

 

BTW: Last year my 23 year old was chosen as one of "Atlanta's 50 Most Beautiful Young People." Who knew?

 

 

 

 

More from David Kirkup…

About the Author

David has over two and a half decades of business experience and is a proven financial management expert. Working in Europe and the USA, David has served as Divisional CFO at a number of Fortune 500 corporations: including Reuters, Marsh & McClennan, Zurich Insurance and ADP as well as numerous small and mid size companies. As part owner of a small software company, he was heavily involved in the marketing efforts and ultimate sale of the company. As CFO with a national PEO firm he dealt with the credit and financial issues facing hundreds of small business clients. David also spent 5 years in Bermuda managing captive insurance companies.

View David’s Personal Website

Books


A collection of books from B2B CFO® to help any business succeed. Read the first chapter from books, including the Wall Street Journal’s book, for free.

Zoom in using the +/- tools on the left. Click on each photo for more details.