Rick's Articles & Media

The Happy-Sad Syndrome

Most of the business owners I meet go through this process every month: Around the 15th of the month their bookkeeper or controller hands them the prior month’s income statement and balance sheet. Each are 2-3 pages long. They look at the “top line” of the income statement (sales) and are happy or sad. They flip…

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Financial Strategies For 2021 Profitability

A CALL TO ACTION The Time to Act is Now! Many good solid firms are struggling with the economy and post-COVID-19 effects and are waiting things out. They have cut back costs as far as possible but are at a loss on how to increase sales and profits.  Here are steps you should be taking…

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Budgeting and Forecasting for Nonprofits

As a CFO I always recommend that my clients have a rolling forecast.  While it takes some time each month or quarter to update the forecast, it provides the organization with a picture of what its future financial position could look like under various conditions and scenarios, and makes “what-if” analysis much easier. This information…

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Briefing Paper Financial Analysis And Planning

Definition Financial Analysis and Planning is the process of analyzing a company’s historical financial and operational results. It is also a practice of preparing and analyzing projections for future operations and projects.  This process is done in order to understand what drives financial results by learning from the prior outcomes. This coupled with looking at…

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Banking And Lending Relationships

Strong banking and lending relationships are key to a well-financed business. Well financed businesses can operate much more efficiently than cash strapped firms and can take better advantage of market opportunities when they arise. Owners, of businesses that are well financed, are able to sleep much better at night than those who struggle with cash.…

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Planning The Exit – Maximizing Value And Your Company’s Future

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…

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Every Company Regardless Of Its Size Needs A Chief Financial Officer

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. Small and mid-market companies also employ top sales and operations executives,…

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Planning To Win

Please take a few minutes to think about these two questions: 1) What are our company’s three most important opportunities? 2) What are our company’s three biggest issues or threats? If your company is successful in taking advantage of its most important opportunities and eradicates its biggest threats in 2010, it will move your company to an entirely new level of profitability, growth and financial strength.  If instead…

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Profitability And Your Finance Staff

Are your profits where you want them to be? Has your CFO/Controller/CPA helped you to really understand what is driving your company profits or losses? Does your Controller or CFO spend most of his/her time fighting fires, closing the books,  processing transactions, managing HR clerical issues and performing other non-value added services?  Is he/she overwhelmed? Or,  Does your CFO/Controller add…

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Financial Strategies To Increase Sales

Have you just about run out of ideas to increase your sales? How about some financial strategies!  Here are some I use: Work with the CEO/owner to increase the amount of time they are spending on sales.  The CEO has more punch with customers and potential customers than anyone else in the firm.  If we can help the CEO…

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