Power Forwards CFO Services @PowerForwards
Billy Katelnikoff, CPA, CA I provide businesses full CFO services to help entrepreneurs grow their brand. powerforwards.ca Alberta, Canada Joined June 2011-
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This is particularly important when companies go beyond 5 employees and $1-2mm of sales, but even before this stage to be safe. Thanks for reading! To learn more visit powerforwards.ca/services
The risk management strategy has to factor in financial cost plus have 1-2 people that understand not only the operational aspects of the business but also the financial under currents and how the financials work overall.
Financial and non financial impact of an owner manager not being able to run the business for a period of time gets overlooked or procrastinated.
Looping in the CEO on all hires and having them be part of every position creation or hiring decision is vital to gauge the culture fit along with the overall vision of the company. This cannot be overlooked. Thanks for reading! To learn more go to powerforwards.ca/services
There has been multiple occasions where it was actually determined that two or three positions would be required or even more because of the demands and the intended value. Other times it was determined that a human resource reallocation can be done to create the new position.
Quickly growing clients I have worked with on the finance and strategy side often are making multiple hires to meet work flow demands. The first and main question is usually can we afford to hire this employee?
The above is all critical when evaluating the financial state of the business as well as the future financial health of the business. No detail can be left unturned but often is once businesses get in the $2 MM - $5 mm sales range. Thanks for reading! @PowerForwards
If sales are not spiking something is then either wrong with the product that is being sold, how it is marketed and priced, or more coaching and training needs to be done at all levels.
Dealing with rising costs is tough and training sales staff is not. Most sales people in companies are not trained properly or given proper metrics to track their activity.
Sales growth and capacity needs to be understood in order to get significant value jumps in the business. Increasing business value through what you already have invested in is the most cost and risk efficient way to growth. Please comment or message for any questions!
Creating a system whereby the company knows what is selling (and for how much) and who it is being sold to allows for more ambitious sales goals. This in turn also helps supply chain planners.
One example of a client case where sales and profits were able to grow more than 50% in one year. (See thread)
Customer repeat purchase patterns are an insight to effectiveness of sales, service, product/service quality, and marketing initiatives. Thanks for reading hopefully you can use our tips and techniques that have worked well with the hundreds of clients we have worked with!
Getting customers to rebuy from your company is the most efficient way to sales growth. Analyzing sales information to determine how many times unique customers repurchase from your company. Depending on the industry the return time may vary.
Understanding how to properly invest into employee intiatives is a always at the top of the financial strategy checklist because it must be done right. Thanks for reading hopefully you can use our tips and techniques that have worked well with the clients we have worked with!
Part of maximizing cash flow so the company can grow goes beyond going to ask a bank or private investor for more money. Having a positive culture that creates a team atmosphere will increase growth faster than most other remedies.
Employee recruitment and retention is a major concern for finance strategy. Incompetent staff compensation models and management practices cause high turn over and make it hard to recruit the right people.
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