There are 33.5 million small to mid-sized businesses in America with $12 trillion market value. But the failure rate of all businesses is incredibly high. 22% of business startups fail in the first year, and 50% of new businesses fail within the first five years – and 70% fail within ten years.* Operational savvy doesn’t always …
Keep Your Business Healthy: The Four Pillars of Sound Financial Practices Read More »
Many business owners think their business is the only business with unpredictable income and cash flow. This makes me grin. Revenue for most businesses is never steady or easy to plan. If you are one of the fortunate ones with predictable revenue, it certainly makes things easier, but you are in the minority. At the time of …
How to Keep the End of a Quarter from Feeling Like the End of Your Business Read More »
I had a conversation the other day with a small group of venture capitalists and seed fund investors. I love talking with these types of people – they are so passionate and have super creative business ideas. When I shared my Fractional CFO services framework and approach to helping smaller growing companies, I also was …
We’ve all heard the old saying, “If it ain’t broke, don’t fix it.” There’s a lot of wisdom in that. When you’ve implemented an efficient plan (i.e. a quick month-end close, financial processes that keep good data in front of you, etc.) it’s a good idea not to mess with it – to a point. …
As is my custom, I spent New Year’s weekend honing my 2024 plan and updating bookkeeping for my business as well as for several of my clients. Yes, I was playing the role of bookkeeper for Verbeck Associates. When you have to do the work yourself, you realize again the value of a great bookkeeper. …
How Do You Run a Business without Good Data? 5 Ways to Change That Read More »
At this time of year, I’m usually pushing to finish strong, both personally and professionally. I’m helping my clients get ready for a quick year-end close and effective kickstart to the new year. I’m finishing my own planning and goal setting as well, because I like to start each year with a clear direction and …
In the vast sea of business complexities, the need for a reliable compass cannot be overstated. Enter Key Performance Indicators (KPIs) – the navigational tools that help business owners chart their course and make informed decisions. In this blog post, we’ll explore the art of simplifying KPIs and their pivotal role in guiding your business …
“Why do you accountants always focus on the rearview mirror?” This question was posed to me during a small business workshop I was conducting. Read on to see how I answered it. But first some context: I do workshops for small businesses frequently, to share more deeply about my Fractional CFO framework and approach. I …
The Rearview Mirror for Looking Ahead: Know Yourself to Grow Yourself Read More »
One of the skills an experienced big mountain backcountry skier practices is testing the snowpack for avalanche risk. “I think it looks good,” won’t cut it. We have to pull out the shovel and test the pack to ensure we can venture down in a safe way. Otherwise, we risk life-threatening conditions and danger. “Where’d …
Four Things to Regularly Assess in Your Business Read More »
When it comes to ways to grow your business, it may not be that you lack time but that you need to do some prioritizing. It’s important to constantly evaluate your growth and progress. With the year already well underway, it’s time to take a closer look at how your business is doing. Is it …