Just about every business has goals, whether they’re informal targets or the product of a more formal plan. But just as important as setting the right goals is monitoring your organization’s progress, including a comparison of budget vs actual revenue and expenses. Let’s look closer at how to properly conduct these vital reviews and why […]
Mid-Year Financial Goals Check: Reviewing Budget vs Actual Read More »
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
How Easily Analyzing your Business Model Drives Strategy Read More »
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,
Four Forecasting Tips for Small Business Owners Read More »
In college, my two favorite classes were Business Cases and Financial Cases. We would get one week to dissect a large business and determine an optimal path forward for a situation they would find themselves in. I loved this because larger businesses offer a massive amount of data typically not available for small businesses. During
What Netflix Can Teach Small Business Owners Read More »
Whether you are the leader of a large sales team or a small business owner with a sales team of one, it can be a helpless feeling not working if the sales process is working properly. Properly setting up sales KPIs can help a business owner determine if there are issues in their sales process.
Sales Process Pipeline KPIs: A Complete List of Sales Process KPIs Read More »
As a small business owner you are very aware of just how little time there seems to be each workday. Running a business isn’t 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
Why Bookkeeping Fails: Traditional vs. Enhanced Solutions Read More »
If you don’t have a budget for your small business, don’t worry. You’re 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 won’t be able to stick to it and it will be a waste of time. Fortunately,
A Small Business Budget: Examples and Tips Read More »
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 business’ financial data, and you may even dabble in bookkeeping yourself if the need arises. Nearly half of
Traditional Bookkeeping Doesn’t Work Today Read More »
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 company’s report card, while at other times, I will describe it as the roadmap. I particularly like the roadmap metaphor for financial
Small Business Financial Reporting and Analysis Read More »
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
Measuring Sales Channel Profitability for Food Manufacturers Read More »
