FREE POWERFUL ADVICE FROM AMERICA’S TOP CFOs ON CASH FLOW STRATEGIES AND BEST PRACTICES

FREE POWERFUL ADVICE FROM AMERICA’S TOP CFOs ON CASH FLOW STRATEGIES AND BEST PRACTICES

B2B CFO unveils plan to support privately held businesses during coronavirus pandemic MESA, Ariz. (March 31, 2020) – As business owners grapple with the new reality of a COVID-19 crisis-stricken economy, B2B CFO, a national firm dedicated to providing management advisory services to privately held companies, is stepping up to fill a much needed void with information regarding cash flow strategies and best practices during the crisis. Between forced closures, HR issues due to suggested quarantines, reduced spending and uncertain future, companies are in a cash crunch like never before. To support business owners during this time, B2B CFO’s nearly 200 Partners located across the United States have offered America’s businesses access to free cash flow advice sessions. In these personal, one-on-one sessions, business owners will learn what immediate action they can take, what plans they could make for the next two weeks, and valuable insights on how they can restart their business. “These are unprecedented times.  Everything we do at B2B CFO is designed to improve the lives of business owners,” stated Jerry L. Mills, founder and CEO, reinforcing the company’s mission. “We do that when the economy is great and we also do that in hard times like this.  Each one of our Partners is standing by to help business owners understand today’s options when it comes to cash flow strategies.” B2B CFO has a history of giving back to the community and this is not the first time that the company has stepped up to help stricken business owners. In the past, B2B CFO has rolled out assistance to business owners impacted by natural disasters such...
Five Ways To Get More Cash From Your Business

Five Ways To Get More Cash From Your Business

AZ Business Magazine by Jerry Mills   As CEO of B2B CFO®, I regularly talk about our motto which is, “Cash. We help you get it®”. When talking about how we help our clients get more cash, I find that there is generally a misconception. Most people think that there are only two ways to get more cash: the first one being taking a traditional route of talking to banks about loans, and the second trying to get an investor to infuse more cash into your business. I am going to present to you five ways to get more cash from your business. These five steps do not involve taking on more debt nor do they involve diluting your equity: 1. Try to cut back on costs Yes, this is a pretty obvious way to get more cash into your business, but it does take a concerted effort. One of the easiest ways to cut cost is to ask your service providers to re-bid for your business. Just because they are working with you now doesn’t mean that they are the best fit for your business in terms of cost or relationship. This can be particularly true in the following areas: insurance, benefits, telephone, credit card services and office supplies. These are all examples that can be negotiated and significant cost savings realized. Saving even three or four percent of operating expenses can be the difference between breaking even and generating significant cash. 2. Sell more or charge more This may seem obvious, but you might find there is less opposition than you may think. Look at what your competition is...
A Cash Crisis

A Cash Crisis

SMALL TALK MAY 17, 2010 Colleen DeBaise answers an entrepreneur’s question about when to call it quits Q: I’ve owned a small clothing boutique for three years. I weathered the economy, but now a construction project that will last three months has blocked foot traffic to my business. This is killing my cash flow so much that I had to delay paying my rent and my sales tax. When do I call it a day? —Susan, Burlingame, Calif. A: Fighting for survival is never easy, but keep in mind: If you don’t pay sales tax, the state could shut you down. When that happens, “you lose control—and that’s even more frustrating,” says Jerry L. Mills, founder of B2B CFO Partners LLC, a Phoenix firm that provides part-time chief-financial-officer services to small businesses. So, direct any reserve funds toward the payment of taxes as a first step in getting out of an already bad situation. After that, place a call to your insurance agent, and see if your business owner’s policy includes business- interruption insurance, which generally kicks in when natural or man-made hazards threaten your company. And while it’s best to avoid legal action, you might consider contacting an attorney to see if you have any recourse against the party—be it the city or a next-door neighbor—who’s jackhammering. Given the situation, you might also be able to negotiate a lower rent from your landlord, especially while construction continues. As far as deciding whether to close up shop, you should perform a simple cost-benefit analysis, looking at whether the positives outweigh the negatives if you remain open for six more...