Entrepreneur, Father and Financial Strategist
I created this article series for companies running (or seriously contemplating running) EOS® Traction, Gino Wickman’s Entrepreneurial Operating System® for small-business owners. I run my company on it and found that, while EOS® is extremely effective for management and scaling, the core EOS® materials don’t provide the depth of guidance for the financial component so […]
In this blog, I cover questions that come up repeatedly as I and my firm talk with our clients and potential clients, typically owners of startups and high-growth companies. Lately, I’ve been hearing a common question over and over from some of LLC companies. While it sounds like a tax question, it’s really about creating […]
Are you avoiding using financial indicators to steer your ship? You know you should be looking at cash flow, inventory, profitability by project and more, but it takes too long. Ironically, when this happens, it’s often because your financial model is way too complex. If you are not using your forecasting model, you may need […]
Entrepreneurs hear over and over again that they need a robust financial model in order to raise capital and get the attention from investors else they risk that an investor would say, “You haven’t thought through”, which is the entrepreneur’s nightmare. Yet, a robust financial model does not necessarily mean a super complex and cumbersome […]
Your role as CEO, president or founder is critical to your small and growing company—you need to focus on product, customers and strategy. One of the last things you want to do is babysit your bookkeeper. Yet I can share dozens of horror stories born of a lack of accounting oversight in the early stages […]
As a CEO or owner of a growing company, your business feels busy, you seem to be making money and you want to hire more people. But can you? How can you know with 100% confidence whether you can afford to hire another person…or not? How fast do they have to ramp up? What happens […]
Agency or service-based businesses commonly struggle with leaky profitability. These issues are eminently fixable and don’t need to spell bankruptcy. This article series examines five mistakes I see 95% of agency-type businesses make in their accounting. (Links to other parts in this series are at the end of this article.) You want to be able […]
Is your company’s profitability leaky? Ask yourself this: Can you see exactly how and where to improve it? This series of articles is examining five common mistakes that service-based businesses or agency-type firms make in tracking their profitability — mistakes that limit their ability to see and fix those numbers. (Agencies are companies for which […]
I’ve witnessed too many service-based businesses shut down their operations because the owners just could not make ends meet. The most common problem? Little visibility to profitability. I’d estimate that about 90% out of the 20 agency businesses we work with exhibit one or more of the 5 main issues. In this series of articles, […]
“Do I really need a CFO right now? My company is so small. I’m still figuring out my business. What would a CFO even do for me?” Every week, I hear these questions. Over the past 15 years, I’ve worked with hundreds of early-stage and growth-stage companies, and I’ve held the position of CFO myself. […]
