Financial planning and forecasting play a crucial role in the success and growth of any business. By utilizing these strategic tools, businesses can gain valuable insights into their financial future and make informed decisions. In this blog post, we will explore the numerous benefits of financial planning and forecasting, demonstrating why they are essential for
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In today’s fast-paced business world, time is of the essence. For small business owners, managing accounting tasks can be time-consuming and overwhelming. However, with the right tools and accounting software add-ons, owners can streamline their financial processes and save valuable time. Most small business owners don’t spend enough time with their small business accounting software
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Implementing effective business tax planning strategies is crucial for any company, but leaving tax planning until the end of the year can create stress and cause you to miss out on savings opportunities, which is why you should be focusing on it all year round. In this article, we will look at the advantages of
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In May of 2022 I attended a CFO conference put on by the American Institute of Certified Public Accountants. As is often the case, there are 3 to 4 themes that emerge throughout the week. At this particular conference, one of those themes was the use of agile methodologies in finance and accounting departments. At
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Virtual CFO services are more than a person behind a computer, crunching numbers and running reports. They are an extension of your business; an additional team member without the in-house costs. When you work with a virtual CFO you can expect the financial aspects of your business to be handled with care and detail, but
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Small business owners face long odds – about 33% will fail in the first two years. Look out 5 years and around 50% will shut down. By far, the most prominent reason businesses fail is that they run out of money. In this article, we will discuss nine different strategies for small businesses to consider
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Determining the Right Cash Reserves for Your Small Business: Insights from a CFO Running out of cash can spell disaster for a business. But hoarding too much can be a waste. So, how much is just right? In this article, I tackle the crucial question most frequently asked by current and prospective clients: How much
The Cash Cushion Sweet Spot: The Right Amount of Cash Reserves for Your Small Business Read More »
Check Out The Video An Introduction Starting and keeping a small business afloat is no small task. In most cases, you may lack experience in the financial and strategic processes involved in running a business. This can have you thinking you need a large accounting department to run things smoothly, but that’s not the case.
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Most business owners underestimate the importance of understanding the economics of their business model. In the same vein, most overestimate the number of factors that impact their model. When an entrepreneur understands their business model, they can truly start to implement impactful business strategy. This conversation can get more complicated for businesses with excess of
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Clients engage a fractional CFO for several reasons. The one I hear the most is wanting to get a better idea of what their future cash flow will be. Many times, I am talking to them after they have done an extensive Google search of how to exactly determine that. While forecasting is the answer,
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