Where Have All The Profits Gone? - CFO Simplified
One of the hardest decisions a business owner makes is what to charge. Done wrong, it can lead you to ask where have all the profits gone?| CFO Simplified
Need help managing your company’s cash flow? Our Illinois cashflow managers provide insight.| CFO Simplified
Of course, you know the answer! You buy raw materials, you pay your staff, rent and utilities and you sell what you make. But if you’re only looking at those few numbers, you are not able to make the changes you need to make your business more profitable. Your income statement is the summary, the […] The post Profitability Challenge<br />How does your business make a profit? appeared first on CFO Simplified.| CFO Simplified
One of the hardest decisions a business owner makes is what to charge. Done wrong, it can lead you to ask where have all the profits gone?| CFO Simplified
Success (or Lack Thereof) in Succession Planning for Businesses Handing over a business is more than a title change—it’s a financial and operational shift that can make or break a company. Without strong cash management, realistic growth strategies, and proper mentorship, even a successful business can falter. This case study reveals how a second generation […]| CFO Simplified
Meet The Team Larry Chester President Larry has served as a CFO for 25 years for companies including Colovos Company, Republic Windows and Doors, United Service Companies, and High Sierra Sport Company, helping them eliminate losses and improving financial operations and reporting. Realizing that he enjoyed the challenges of helping companies that were working their […]| CFO Simplified
Helped us overcome some of our immediate challenges… | CFO Simplified
The new year is here! As a business owner, there is a lot to evaluate and prepare for 2025. Many business owners felt the squeeze of a tight 2024 and if that was the case for you, naturally the goal is to avoid a repeat that year. A crucial component to revitalizing your business in […]| CFO Simplified
There are many elements involved in developing and manufacturing products for a customer. Most of a company’s concentrated efforts go to the creation of what they’re going to sell, and with good reason. Because that IS the only purpose of any company: product development. If you don’t have something to sell, you’re not in business. […]| CFO Simplified
Operational Efficiency It goes without saying that everything that happens in your company, no matter how small, shows up in your financials. Whether it is a piece of equipment that needs repair before the job could start running, or the clerk that has to spend 2 hours a week sorting orders before they are ready […]| CFO Simplified
Don’t Tell me what I need for my Business! We not only think about what we want our companies to be, but we have an image of what our companies are and the issues that they face. Sometimes they are based in things that we experience every day, but sometimes these are rooted in our […] The post Don’t Tell me what I need for my Business! appeared first on CFO Simplified.| CFO Simplified
Understanding and Mitigating Business Risks: Lessons from Hurricane Helene The financial devastation caused by Hurricane Helene in 2024, which led to $160 billion in economic losses, offers crucial insights into how business owners should think about risk management and preparedness. While natural disasters like hurricanes are region-specific, the types of risks and business vulnerabilities exposed […] The post Understanding and Managing Business Risks: Lessons from Hurricane Helene appeare...| CFO Simplified
Full QuickBooks Support, Bookkeeping and Payroll Services QuickBooks File Setup or Repair/Update Whether you are just starting out, or have been using QuickBooks for a while, our QuickBooks experts will make your accounting experience painless. File Setup – Our QuickBooks Experts will get you started right. The first step is to understand your business, and […]| CFO Simplified
Strategic Planning & Market Guidance The role of a CFO is a critical one to drive business growth based on real metrics, reports, and trends. One crucial task is to analyze your business and implement an effective strategic plan based on market trends, forecasts and your goals and aspirations. Where is your company now, and where […]| CFO Simplified
Performance Tracking Businesses should be continuously tracking performance to identify potential issues and make room for improvement. This can be surprisingly complex and involves more than simply reviewing financial reports each month or quarter. A significant amount of data can go into performance tracking. Maybe the most complex part is identifying the Key Performance Indicators […]| CFO Simplified
Financial Reporting Businesses engage in many different transactions on a daily basis, and it is important to properly organize information regarding operational expenses and revenue so that the profitability of each revenue stream can be identified and analyzed. Accurate financial reporting allows for easy review and analysis of transactions and trends, and this is a […]| CFO Simplified
Budgeting & Expense Control Often, effective budgets distinguish successful companies from their competition. It does not matter how much revenue you bring in if your expenses are out of control. Effective budgeting takes time, however. It needs to include a thorough analysis of expenses and research into possible changes to the overall budget and business […]| CFO Simplified
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Every business owner knows that one of their biggest assets is Inventory. But if your business doesn’t have shelves in a warehouse filled with products for sale, you might think that you don’t need to worry about all of the issues and problems that go along with managing, protecting and selling that inventory. Actually, there […]| CFO Simplified
Are you missing Strategic Planning? Let’s quickly get through the first three items in any strategic plan. Here’s a quick review. These are key to making sure that everyone in your company is on the same page. Vision and Mission Statement – Why do you exist, and what is it that you provide to the […]| CFO Simplified
Every business ends up short of cash from time to time. But there’s short of cash, and then there’s SHORT OF CASH. In the first case, you’re going to have to wait a few months to buy that new production machine. In the second, you need to figure out some way of covering payroll on […]| CFO Simplified
As we’ve worked increasingly with law firms over the past few years, there are a number of commonalities that we’ve found with many of the firms that we’ve met and have worked with. Lawyers are really good at taking care of their clients. That’s the bread and butter of their business and biz dev, and […]| CFO Simplified
All companies face the challenge of attracting and retaining good talent and appealing to an employee population that is diverse in what it wants and needs. Taking a thoughtful approach to total compensation ensures that money and resources will be well-spent, well-received, externally competitive, and internally equitable. Below are some key guideposts for building a […]| CFO Simplified
Every business needs to be careful about the procedures that they put in place to keep control over and protect the assets of the company. That may involve management of cash, payables and receivables, payroll, their computer system, employee access and more. And in most businesses, there is one person at the top that takes […]| CFO Simplified
