A typical company finance function can be divided up into 3 areas, however many businesses believe the finance role is principally to produce accurate accounts.
Ask any bank manager and he or she will tell you the bank’s most problematic customers are those who don’t truly understand what is going on in their business. Some customers ask for finance or expect to maintain an overdraft, yet cannot even produce up to date accounts.
Business control is vital – at both ends of the business spectrum
After the first flush of start-up, many business owners find themselves faced with common problems caused by business control. Those problems tend to polarise into coping with potential failure or run-away success – the ‘zero or hero’ scenario.
The heroes are fast-growing, successful businesses, usually with considerable drive and enthusiasm from business owners. Heroes are clearly going in the right direction,
Jim Collins, the veteran author of Good to Great, believes that “10x companies” – i.e. those which outperform their industry average by 10 times or more – possess 3 fundamental and distinctive traits:
1. Fanatic discipline and monomaniacal focus on achieving goals.
2. Empirical creativity: an obsession with facts over opinion and a readiness to ignore conventional wisdom once armed with these facts.
Life through a lens
One of the toughest challenges for owners of SMEs is to be able to stand back, to look at their business through a wide-angle lens and identify what it is they really have.
Because quite often, the day-to-day distractions and diversions that inevitably surround the running of a successful business – particularly when there’s a global pandemic pulling the rug from under everyone’s feet – get in the way of sensible,
While much uncertainty still remains after the craziness of 2020, our Chairman Colin Mills talks about his process on how to significantly grow your business.
“The best advice I ever received for ‘doubling’ the size of our business, was to list down the Top 20 things we could do to increase the revenue by 10 times. You can then identify the Top 3 activities to concentrate on for the following year” says Colin.
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
Access to our national and international network of clients and partners
With all that support and expertise at your fingertips,
“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,
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