Resources
Guide to Fractional CFO Services
CFO’s Small Business Financial Report Guide
Articles
Key Strategies for High Growth in Franchise Expansion
The traits for high growth within franchise systems is a topic that there has not been much consensus on over the past 40+ years. Study after study has tried to narrow down the traits of high growth systems only to find there are often not many correlating points. We recently looked at over 400 franchisors
Transforming Data into Decisions: The Power of Actionable Financial Statements
You can’t blame the small business owner for rolling their eyes when their accountant says they want to review their monthly financial statements. As a fractional CFO, I have more than once thought I heard an audible groan from a potential client when I suggest monthly meetings to review their reporting package. The truth is,
Why Net Promoter Score (NPS) Matters for Small Businesses: Insights from an Outsourced CFO
Several years ago, while running my own business, I developed a small obsession with the Net Promoter Score metric. This metric, developed by experts at Harvard Business School, provides profound insights into customer satisfaction and loyalty. If you don’t have time to read an entire article, here is a quick background. Net Promoter Score (NPS)
The Three Largest Negative Impacts on Cash Burn
Managing cash flow effectively is not just a good practice, it’s a necessity for the survival and growth of any business. According to a study by U.S. Bank, a staggering 82% of small businesses fail due to poor cash flow management. Another study from Intuit found that 60% of small businesses face cash flow issues
From the CFOs Desk: Articulating Value in Franchise Sales
It’s a common practice for franchisors to overlook their CFO’s potential in sales. However, it’s crucial to consider their unique expertise. After all, a franchise’s sales are about articulating value. And who better understands the intricacies of building financial and articulating value in a company than a CFO? Seeking their assistance could be a game-changer
Navigating Item 19: Strategies for Boosting Your Franchise Sales
There’s an old adage that the worst presentation is the one that’s never given. This seems to be a mantra many franchisors apply to the presenting financial data in their Item 19 disclosure in their Franchise Disclosure Document (FDD). Too often, franchisors rush to publish an Item 19, despite results that might not be as
Small Business Accounting in 2024: Outsourcing and Tech Strategies to Beat the Shortage
In the rapidly evolving landscape of small business entrepreneurship, a concerning trend around the accounting profession has emerged. The lack of accounting talent available signals potential challenges ahead for small business owners. A recent report from the American Institute of CPAs reveals a sharp decline in students earning U.S. post-secondary accounting degrees. In the 2021-22
Maximizing Value in Your Finance Department: Cost-Effective Strategies for Small Business Owners
We live in a world where every dollar counts. Small business owners grapple with the dilemma of balancing cost-effective finance and accounting solutions with the need for more expertise. The key question is, how can you get the most out of your financial operations without breaking the bank? This article will explore strategies to set
AI In Accounting and Finance
In the dynamic world of small business, the emergence of AI within accounting and finance could revolutionize how owners manage and strategize financial operations. As a small business CFO, navigating this new terrain of AI-driven financial management can be both exhilarating and challenging. However, while the potential is intriguing and exciting, AI solutions currently fall
Keys To Succesful Franchise Coaching
When it comes to franchise support, there are two areas where I see franchisors fail to meet their franchisee’s needs. These observations come from working with franchise systems of all sizes. I work with clients starting up with a couple of units to those with as many as 200 units. I was a franchisor in
Selling Franchisees Isn’t the Golden Ticket but Coaching Is
Most franchisors come to learn that they don’t make money from selling franchises. After selling and training costs are deducted from the initial franchise fee, there is often little left over. What franchisors learn is the path to lasting wealth in franchising is paved with the steady flow of recurring royalties. There are so few
Setting Standards: Business Models vs. Budgets vs. Forecasting
As an outsourced CFO serving 12-15 different businesses, I’ve delved deep into the realm of budgeting and forecasting. Over time, I’ve come to believe that traditional budgeting has taken a backseat, with rolling 12-month forecasts becoming the preferred financial tool for businesses. This tool not only provides future insights but also sets a standard for