Learn more about general accounting strategies from Krieger Analytics
Don’t Drown in KPI lists – Here are 4 To Implement Today Most business owners have almost certainly heard the term “key performance indicators,” or KPIs. Small business KPIs are quick ways for owners to shortcut their financial statements and understand the health of their small business. What exactly are KPIs and why are they […]
The Essential KPIs Your Small Business Should Be Tracking in 2021 Read More »
Food manufacturers have had a challenging 2020. With pandemic shopping being all of the rage, one would think the food business is booming. However, there have been two trends that have worked together to tamp down many food manufacturers – I work as an outsourced CFO for multiple clients in the food manufacturing and retail
The Current State of Food Manufacturing and Three To-Dos for 2021 Read More »
The election has provided some clarity about what the future administration will look like. Unfortunately, we still have very few details regarding if/what/when the next stimulus package will be. Many people are calling for additional stimulus. With Small Business confidence at an all-time low, it would be hard for Congress not to pass some additional
Projecting the Next Small Business Stimulus Read More »
In January 2020, Mark Belle knew he was going to have a challenging conversation with his boss. Mark was the general manager at one of the three locations of a food service provider that I had just begun to provide virtual CFO services. The company sold several retail products but also produced fresh, ready to
Inventory Accounting = Higher Profits Read More »
With Halloween upon us, let’s talk about the differences between a good and bad (or dare I say evil) accounting department. Small business accounting can be a struggle for many business owners. If it weren’t, you wouldn’t find over 4 million results for “What do bookkeepers do?” on Google. Finding the right fit for your
Good vs. Evil Accounting Departments – 10 Traits to Look For Read More »
Many business owners face the same dilemma this upcoming budgeting season: how to make ends meet. Despite pockets of success stories, most data points to businesses struggling in general. Several surveys have shown just how deep the impact has been. Alignable found that by April 4th, 43% of businesses had temporarily closed and 39% had
COVID + Budgeting – A Cost-Cutting Primer for 2021 Read More »
While sitting with a client recently, we needed to solve a problem – they needed aluminum cans. Production was being constrained by the lack of aluminum cans available for this beverage manufacturer. Their supplier said the constraint resulted from more prominent players, such as Coca Cola and PepsiCo, gobbling up the supply. We wanted to
Small Businesses Lessons from Public Companies Read More »
In my opinion, business owners worry too much about the impact of price changes on their customers. I have a client who has not raised prices in 4 years. Every year we have the same discussion and I get the same answer; “My customers will revolt if I increase my prices.” Most clients I work
3 Best Practices on Price Changes Read More »
Of the 3,800 concepts that are currently franchising, over 25% have 0 franchised units. Going up to the next tier of 1-25 units, you’ll find another 36% of franchised concepts. A report by FranchiseGrade further shows that after two years of trying to franchise, 65% of concepts sell no locations. It shouldn’t come as a
Is Your Franchise a Good Investment? Read More »
In early 2020 I was talking with the franchisor of a gym concept in Texas. Let’s call the franchisor Dave to make things easier. “Dave” and I were walking through his sales and finance process. Four years earlier, Dave had opened up his first store. A year later, he opened up his second store. One of his clients,
Understanding Finance Options for Franchise Prospects Read More »
