There are hundreds of ways to look our business – we can spend hours staring at financial statements and ratios. But financial statements alone won’t help us make progress…what an entrepreneur really needs is a map. A great “business dashboard” can be that map, showing us not just where we […]Continue Reading » →
Archive for the Strategy, Finance & Ops Category
Hiring a CFO is tough: No other role will be so crucial to your success, so getting the right chemistry, skill set, experience and personality is vital. Its no wonder that more and more business owners are outsourcing the CFO role using a Part Time CFO or “Fractional CFO Service”.
But not all Outsourced CFO service providers are the same. Let’s take a look at the three most common CFOs and the ways they work with – and within – a business. Which one is right for you: The Cowboy, the Rain Maker or the Swat Team?Continue Reading » →
It’s a shame, really, that we have to interrupt our joyous year-end holidays with gut-wrenching year-end tax planning… So to minimize the pain, I’ve put together a quick list of the 6 things I think you should know this year. Put down the fruitcake and eggnog for just a second, […]Continue Reading » →
The best way to build a strong, profitable and sustainable company is to start with a solid CFO-CEO relationship. In the best companies, the two executives are in lock-step, working together to realize a common vision. And in doing so, they divide the work, compliment each other’s strengths and have each other’s back.
When it works well, the interplay and support between CEO and CFO creates value greater than the sum of its parts and catapults the company past the competition. When it fails, the bad relationship can tear an organization apart at the seams.
Creating a great CFO-CEO relationship does not happen naturally. Like a marriage, the relationship takes time, effort and self awareness to understand how your work style impacts your CFO (and vice-versa).
If you and your CFO are not working together to build the strongest company possible, perhaps its time for some couple’s counseling. See if you recognize yourself in any of these three common relationship danger zones:
In almost every business, just 20% of customers account for 80% of profits. And many businesses would be better off if they simply did not have to serve the bottom 80% at all!
But before you go out and fire 4 of every 5 customers, take a closer look. By understanding the profitability of each customer segment, and adjusting your operations accordingly, you can keep the customers and maximize profits.Continue Reading » →
If you’ve been slandered publicly in print or on the internet, It is possible to win a defamation lawsuit. This recent judgement is a great case study in how to win.Continue Reading » →
Dataminr, Inc. is celebrating a new $130 million investment from leading angels and VC… on top of $50 million raised since opening their doors in 2009. The latest investment values the company north of $700 million.
Do headlines like that leave you Dazzled? Jealous? Do they make you think that raising venture capital is the easy, fast and sexy? Think again. Behind the headlines are 4 tough truths about raising venture capital and private equity.Continue Reading » →
Every year, two out of three small businesses fall victim to some level of fraud. Not all of them know it. Some never will. The damage may be small and contained … or it may still be growing. Worse, 80% of attempted small business fraud comes from outside of the organization. That means that your company’s financial data is most at risk after it leaves your office, where it may be completely out of your control.
How big of a problem is this? The average small business fraud victim lost $23,100 … but there are 5 key things you can do to avoid this fate.