Before we begin… What’s the purpose of the 90-Day Sprint?
This is the way to optimize and use the tools in the lab to improve profits and cash flow within your company. With this roadmap, you will have the ability to quickly go in and unlock value within a 90-days. Let’s begin increasing your value within your organization today. With increased value, comes increased profits and cash flow.
The Strategic CFO has over 25 years of experience working with financial leaders in entrepreneurial companies. While there is no cookie-cutter process to improve profits and cash flow, these 8 steps have been proven time and time again to work. Within the next 90 days, you should be able to implement each tool in the SCFO Lab.
In the first 90 days, these 8 steps should be accomplished.
Step 1: Accumulate Company Information
Step 2: Organize the Accounting System
Step 3: Prepare Cash Flow Projection
Step 4: Prepare Financial Analysis
Step 7: Implement & Train Employees
Step 8: Monitor & Maintain
It’s time to change the role of a financial leader. But, how do we break the cycle?
In order to break the cycle, we need to change the way you see your role. Charles Darwin said,
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”
Over the years, we have been researching why CEOs and CFOs often have trouble working together. We then discovered that it all comes down to the communication of what they expect of each other. So what does a CEO want in their CFO? They want a person who will do the following:
In essence, they want a wingman. We will learn more about this at a later point…
As a company’s revenues grow, there are points at which a new set of skills is needed in the accounting/finance function, as well as in systems and processes.
The first is usually found between $5 and 10 million. The next is around $40 to 50 million, and after that, $100 million. Controls and processes that worked at $10 million no longer work at $50 million. What most do not realize is that the need for financial management skills vs accounting skills increases from $5 – $10 million. During this stage, bank compliance typically becomes an issue. The company also might require an audit or review. Then the organization has more employees. Thus, managing cash flow & profitability becomes more complex!
We have designed the SCFO Lab to cater to CFOs, Controllers, Accountants, CEOs, COOs, and anyone else who wants to be the financial leader. Everyone in your company should want to increase the profits and cash flow in your company. And there will be an opportunity for you to apply best practices or new tools to your company, regardless of your title.
While there are many benefits that can be gained from utilizing all of the SCFO Lab, we have narrowed it down to the top 6 benefits to keep it simple.
Click the button to learn how to accumulate company information in our 90-Day Sprint.