“Without an understanding of profitability, every business, no matter how successful is a house of cards” – Mike Michalowicz, Entrepreneur and Author.
There are four ways you can improve your profits: sell more, get customers to buy more frequently, increase margins and reduce costs. If you can do all four at once, your profits will increase dramatically. Even changing one of these four factors will boost your profits.
In this article,
Developing a strong relationship with your bank provides tremendous benefits including offering necessary funding, preferential rates, and better terms.
Your bank can provide expert financial advice and help you to find solutions to financial challenges. It can also help you to grow your business and reach your financial objectives.
Since your bank works with a wide variety of businesses, it can also be an excellent source of prospective vendors, partners, and customers for your business.
How a part-time CFO will ensure your business is fully compliant
The CFO Center will provide you with a highly experienced senior CFO with ‘big business experience’ for a fraction of the cost of a full-time CFO. This means you will have:
One of USA’s leading CFOs, working with you on a part-time basis
A local support team of the highest caliber CFOs
A national and international collaborative team of the top CFOs sharing best practice (the power of hundreds)
Access to our national and international network of clients and partners
With all that support and expertise at your fingertips,
To accelerate the growth of your company and organic growth doesn’t appeal, consider merging with or acquiring another company.
Such a move can help business owners like you to grow your top line and profitability, says the FD Centre’s CFO East of England North, Lynda Connon.
A successful merger or acquisition can also give your company access to your target company’s technology, skillsets, markets, and target customers.
If the target company is in a different industry,
Are you looking to hire a CFO that will oversee the financial side of your business?
As you start to consider what to look for in a CFO and who would be the best fit for your business, your first instinct might be to interview full-time candidates only. However, you’ll be missing out on the many benefits that qualified, part-time CFOs bring to the table.
The Benefits of Hiring a Part-Time CFO
Sale Leaseback, as a concept is not new – the use of SLB as a strategic financial tool has been available for businesses for many years.
It has consistently grown in numbers over the last decade and gained further prominence in the current economic environment due to the convergence of a) businesses in need of operating capital in a challenging credit market and b) investors in search of higher yield against the historically low returns from Treasuries.
Thriving in the New World requires a CFO to expand their Guardian role for the organization. The CFO must see themselves driving the organization’s efforts to harness increasing levels of complexity while embedding behaviours and systems to defend against existing and emerging threats to business continuity.
Organizations of all sizes have relied on their financial leaders to develop internal control systems and financial compliance with taxation and regulatory bodies. The business owner and key stakeholders will better navigate the future by ensuring their financial leader is accountable for maximising the organization’s overall information integrity and for broadening the compliance framework.
In this series of Thriving in the New World, The CFO Center explores what exactly it means to be an operator in the “new world” and essential elements that allow your business to thrive.
Most owner-operated businesses would agree that increased cash and more access to capital would help them exceed their business objectives. Recent societal and economic realities have strained or even exhausted cash resources for many companies. Even those companies enjoying unprecedented growth are scrambling to fund unexpected expansion.
In the introduction to our CFO Contribution Series, Thriving In the New World Strategist, we suggested that most business owners may not be well served by high-level, third party driven, divergent strategic exercises. Certainly, there is significant value in undertaking far reaching, blue sky thinking. Most small to medium size organizations will be better served by incorporating their own foresight into targeted, most probable future scenarios developed by highly engaged participants directly linked to the success of the business.
Thriving in the New World series is The CFO Center’s unique approach on how we can truly make a difference to your business. Explore how a transformational CFO, as a Strategist, Operator, Leader and Guardian, is essential to future proof your business.
The Covid-19 pandemic has transported almost every business into a new reality with greater obstacles and greater, or certainly different, opportunities. Many business owners are operating at ground level to address challenges that threaten the livelihood of their employees,
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