Let’s say you’re a business owner, and you’ve got your finance team in place, either in-house or outsource. That team may range from one to many people any of whom may be part time or full time. For this post, let’s assume you’ve got all the players in place from bookkeeper to tax accountant, and [...]
Growing your business is such an exciting time! You’re bringing in new customers, you’re launching new products, and you’re taking your business to the next level. But just like those awkward teenage years, in business, when you’re faced with a period of rapid growth, you’re likely to deal with some major growing pains. And when [...]
Financial reports, when they are set up effectively, are to business owners what buoys in a river are to sailors: they keep you centered and let you know if you veer off course. When they’re aligned with how you think about your business, well-summarized, financial reports give you all kinds of juicy insights into your [...]
One of my favorite metaphors for personal growth is to “live in the stretch”. It reminds me to live some portion of my time outside of my comfort zone doing and learning things that feel uncomfortable. We all have certain skills and activities we can do with our eyes closed, using muscle memory. We’re good [...]
It’s been a long day, and you have a critical meeting with your banker tomorrow. She expects to see the financials from last months close, as well as your rolling forecast in order to consider granting the loan that you are requesting. Your blood is boiling, though, because your bookkeeper just informed you that your [...]
Picture this: you have a family-owned company that’s been in business for 20 years. Cousin Jimmy has been keeping your books for you. He’s reliable, friendly, and he knows math. You’re getting frustrated, however, because you can’t get the information from him that you need to grow your business. Your bank asks you questions about [...]
One of the most difficult decisions small business owners face is determining what level of financial experience they need in their business. Do you need a CFO to manage the complexity of your accounting and reporting? Or simply a bookkeeper to keep track of your expenses? In this post, I’ll walk you through the most [...]
Pop quiz: Which of these situations needs a CFO? You’re a Small- to Mid-size Business owner and the monthly accounting reports are late… AGAIN! Your bookkeeper won’t respond to your emails by the time you can finally look at them, and you’re beyond frustrated. You know in the back of your head that the bookkeeper [...]
You know them when you see them: the businesses that live in the tech world of a decade (or more) ago. The businesses with three different positions dedicated to hand-paying invoices, filing hard copies, mailing checks for signatures, and stamping paid on the invoice, when ALL of that effort could be redeployed to more value-adding [...]
