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Posts Tagged ‘Better Chance’

Is Expansion in Your Company’s Future?

Saturday, January 30th, 2010

While media reports would have us believe that practically no businesses will expand during 2010, we all know that’s false. There are plenty of companies of all shapes and sizes that will grow in one way or another, whether through a merger, the creation of an additional corporate entity, etc.

Quite honestly, this pleases me greatly. Not just because I’m a virtual CFO, but because I’m a believer that sometimes you really have to take calculated risks. Of course, the CPA in me knows that those risks have to be undertaken very, very wisely.

If you’re considering an expansion, do yourself, your employees, your vendors and your customers a favor. Surround yourself with a group of talented professionals — financial managers, legal gurus, business coaches, marketers. That way, you’ll have a much better chance of expanding the right way.

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Tags: Believer, Better Chance, Business Coaches, cash flow, Corporate Entity, CPA, Financial Managers, Gurus, Marketers, Merger, Shapes And Sizes, Talented Professionals, virtual CFO
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Closing the Books on 2009

Thursday, December 31st, 2009

For many entrepreneurs and business owners, 2009 is a year that’s best left unvisited. Truly, it was tough out there; many casualties resulted from the international economic instability. Yet despite the dire predictions, plenty of organizations have survived to greet the new year.

Before you totally close the books on 2009 once and for all, I strongly encourage you to sit down with your CFO and evaluate your numbers. Look beyond just the bottom line and start asking yourself such questions as:

How was our company’s cash flow in 2009? Is there anything we can do in 2010 to make it better?
Were we always operating in compliance in 2009? If not, how can we ensure that there are no compliance problems in 2010?
Were there any expenses in 2009 that we can lower in 2010?
Are there any tax deductions we should be taking that we haven’t thought about before?
Did we budget well in 2009? Were all the areas operating within their budgets? If not, was it that we didn’t plan well enough? Or did the manager of that area mishandle the finances?

There’s nothing wrong with wanting to shelve 2009 once and for all, but before you relegate it to the annals of your business history, learn from what you experienced.

When you and your CFO take this journey down a financial ”memory lane”, you’ll no doubt discover a wealth of information that will help you give all your business resolutions for 2010 a better chance of coming to fruition.