To navigate the path to success, a solid understanding of financial metrics that drive profitability is necessary. One metric to always track is the breakeven point. We will discuss this point of the business journey and what it means for small businesses. In simple terms, it’s the sales volume needed to cover all costs, both…
Updated: Oct 12, 2023 Are you tracking financial performance? Forecasting plays a crucial role in financial management as it enables businesses to anticipate future financial performance and make well-informed decisions. Previous milestones, relevant factors, and forecasting help organizations gain insights into their financial position and allocate resources efficiently to achieve their financial goals. Here are…
As a business owner, you know financial management is the backbone of your success. With the summer season a few weeks away, it’s crucial to pay special attention to your cash flow. It’s typical to see fluctuations in revenue and expenses during these months, and that can impact your business. By you setting up proper…
As a business founder, it’s easy to fall into the trap of being consumed by day-to-day operations. Often, you lose sight of generating new innovations to propel your business forward. We are here to discuss four common pitfalls that founders face:(1)not delegating, (2)being the perfectionist,(3)assuming everything will stay the same long-term, and(4)succumbing to success bias….
UPDATE: Bill.com has increased some of its fees for 2023. These changes are minor but important to note, so there are no surprises on the first billing statement of the new year. Here’s what you need to know: “We are writing to inform you that the price of your BILL transaction fees will increase starting…
Updated:Apr 28, 2022 One word: Trust PART 6 of 6 Trust is only going to grow in importance as we transition to an online business world. Trust is the currency of business; increasing trust drives better execution of everything. Slow down and do your due diligence when selecting a Fractional CFO Firm. Trust was important…
Updated:Apr 28, 2022 It takes a different DNA PART 5 of 6 Generally, clients of CPA firms are unhappy and looking for better customer service. You can’t just want to change, you must be that change. That means being different! To embrace this work, firms need a totally new set of values and structures. Client…
Updated:Apr 28, 2022 Expectations of the Fractional CFO PART 4 of 6 Future Fractional CFOs take a long-term view. They talk about internal controls, security, organic growth, and roadmaps. What they don’t do is try to be the CEO. A Fractional CFO understands the scope of their role and focuses on the administrative function of…
Updated:Apr 28, 2022 Disruption – not your parents CPA Firm PART 3 of 6 Disruptions are not just for the legacy taxi businesses with Uber or hotels with Airbnb. The CPA profession is being disrupted as well. As with most disruptions, this one also started on the outside. Legacy CPA firms focus almost exclusively on…
Updated:Jun 21, 2023 Leveraging Fractional Services Part 2 of 6 The idea of leveraging outside professionals for your business is not new. Companies bring in experts in several areas to support their core efforts, think Legal, H.R., Marketing. There is also a multitude of management consultants of every flavor that will tell you what you…