Resources
Guide to Fractional CFO Services
CFOโs Small Business Financial Report Guide
Articles
Financial Dashboards and Scorecards for Small Business Owners
How far would you get into a road trip without your speedometer, gas gauge, map, or GPS? Likely not very far. So why are you still running your small business without a financial dashboard? I am not the first person to equate the financial dashboard to the dashboard of a car, but it is a
The CFOโs Approved Small Business Financial Report Template
Serious About Your Small Businesses Finances? You’ve come to the right place, with our CFO Approved Small Business Financial Report Template you get an in-depth review and explanation of all the important financial metrics for your business. Whether you’ve been running a business for a couple years or a couple of decades allow our certified
Why Bookkeeping Fails โ Enhanced Bookkeeping is the Future
As a successful small business owner, you understand that business ownership can be frustrating at times. There is too little time in the day and too many responsibilities that need to be handled for business owners. Often the responsibility of keeping bookkeeping and accounting is what pushes to the bottom of the list. Worse, taking
Why Bookkeeping Fails โ Forecasting: The Future Is More Important Than the Past
For many small business owners, accounting can be intimidating. Many owners are strong with numbers and record keeping, but few are financial professionals. Concepts like enhanced bookkeeping or cash flow management can seem difficult and unapproachable. Financial forecasting, in particular, can conjure up feelings of dread for business owners. But, as the saying goes, ignoring
Why Bookkeeping Fails: Traditional vs. Enhanced Solutions
As a small business owner you are very aware of just how little time there seems to be each workday. Running a business isnโt easy, and requires a real investment of time and energy. Business owners can find themselves putting out fires or dedicating time to more pressing problems. Accounting, finance, and bookkeeping are activities
QuickBooks Online vs. Xero: Comparing Accounting Software
Choosing the accounting software your company will use may seem like a low-stakes decision. However, this choice can impact your company in many surprising ways. For many small business owners, there are two dominant providers to pick from – QuickBooks Online or Xero. There are many reasons that a company will choose to invest in
A Small Business Budget: Examples and Tips
If you donโt have a budget for your small business, donโt worry. Youโre not alone. In fact, half of small businesses run without a budget. Why? Because many business owners suspect that even if they make a budget, they wonโt be able to stick to it and it will be a waste of time. Fortunately,
Traditional Bookkeeping Doesnโt Work Today
When asked, almost any successful business owner would agree that bookkeeping is a vital part of keeping their business running. As a small business owner yourself, you probably value keeping a detailed and accurate account of your businessโ financial data, and you may even dabble in bookkeeping yourself if the need arises. Nearly half of
Small Business Financial Reporting and Analysis
What is Financial Reporting and Analysis? When people ask me this question, there are a few metaphors that I could use to describe financial reporting. Sometimes, I will explain financial reports as your companyโs report card, while at other times, I will describe it as the roadmap. I particularly like the roadmap metaphor for financial
Measuring Sales Channel Profitability for Food Manufacturers
As a small to medium-sized business owner, you are probably aware that opening a new sales channel can be an exciting process: New sales channels can mean accelerated growth and increased revenue, and the idea of reaching new customers is understandably appealing to business owners. What you might not be aware of, though, is how
Financial Coaching for Franchisees
As a franchisor, you are probably aware that new franchisees can often require a bit of coaching. What you might not be aware of, though, is how critical that coaching can be: Every year, hundreds of new franchises fail, and many of those failures can be attributed to a franchisee’s lack of financial understanding. In
What is Cash Burn and Why Is It Important?
As a business owner you are aware that operating your business requires cash. Stocking inventory, financing payroll, and purchasing new equipment, among other things, require a healthy reserve of cash. In fact, almost a third of all new companies that fail do so because they run out of operating cash. Most of these companies failed to