March 15, 2019
How Much Cash Should You Stash

How Much Cash Should You Stash in Your Business and Personal Accounts?

In my most recent Value Growth article, I mentioned that a CFO, or the person who leads your finance department, should oversee four divisions of your business – treasury, tax, accounting, and finance. Subsequently, those in the treasury division of your business handle cash flow, investments, accounts receivable (income), and accounts payable (expenses). Since cash flow is the bread and butter of your business, I want to discuss that. Specifically, I want to talk about how much cash you should stash in your business and personal accounts.
March 13, 2019
Why Having a CFO Reduces Business Risk

Why Every Business Needs a CFO to Reduce Business Risk

Most of the time, business owners think that their Chief Financial Officer (CFO) or their Certified Public Accountant (CPA) only worries about company tax issues and payments. However, your company’s financial needs involve more than taxes. You need a CFO or a CPA to oversee multiple departments and to wear many hats within your organization. By creating harmony within the company’s finance departments, a CFO reduces business risk and increases the functionality of your business.
March 11, 2019
Building a Best-in-Class Finance Department

An Introduction to Building a Best-in-Class Finance Department

In this Value Growth Series, I’ve developed mini-series for each of the 8 Foundational Components that drive up your business’s value. Thus far, I’ve discussed planning, leadership, sales, marketing, personnel, and operations. Starting with this article, I’ll be talking about finance. Whether you are a solopreneur or an owner of a business with hundreds of employees, I want you to think about finance as a department or a distinct area of your business. And whether you’ve reached success in spite of your own financial ignorance or you are a financial guru, all business owners can improve in this area of finance.