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...
It’s Not Quite as Lonely at the Top

It’s Not Quite as Lonely at the Top

by: MP Mueller In my last post, I talked about joiningVistage, the business group for chief executives. At first, I wondered if I would find the monthly investment worth it, but after three months in the group, I’m feeling pretty good about the decision to join. In my one-on-one coaching sessions with our group’s chairman, Bill LaRosa, there have been a number of “aha!” moments. At the start of our one-and-a-half-hour monthly sessions (which always seem to last two hours or more), I identify my most pressing challenge and score how I’m doing in three categories: in business, in health and in my personal relationships. During one session, I told Bill about my frustrations trying to get our team to fill out time sheets regularly. It may sound like a minor issue, but time sheets are the foundation for estimating jobs accurately. We stand behind our fixed estimates for projects, so if we are off, we lose money. Now, our employees at Door Number 3 are dedicated, talented and committed to doing great work for our clients. But, historically, there’s been an aversion to the time-sheet thing. I attribute it to people not always embracing the importance of both art and business. In the aftermath of the recession, tracking hours has been essential. Are we giving away work? Or are we on target with our estimates? How well are we utilizing the staff? And at what point do we truly need to hire additional people to handle new work? But trying to fill out time sheets two and three weeks after the fact is like trying to judge a lip-syncing...
B2B CFO Names VP of operations for the firm

B2B CFO Names VP of operations for the firm

SOURCE: ASBURY PARK SUNDAY PRESS AUDIENCE: 166,586 DATE: 12/11/2011 HEADLINE: Wall man named VP of operations for CFO firm Wall man named VP of operations for CFO firm Joseph C. Worth of Wall has been appointed vice president of operations for B2B CFO of Phoenix, a chief financial officer services firm. He joined the company as a partner in 2007. He has 30 years of financial and general management and transaction experience in many industries. Keywords: B2B CFO, LLC...
Best Gifts for Your Clients

Best Gifts for Your Clients

B2B CFO  partner Wendy Nelson shares tips about gifts that may be tax-deductible. SOURCE: Inc.com DATE: 12/06/2011 HEADLINE: To Gift or Not to Gift? Are you trying to play Santa on an elf’s cash-flow? Make your client gifts stand out this holiday season, regardless of budget. With the economy still in recovery, many small business owners are trying to decide whether they should give gifts to clients, what they should buy, and when they should send the gift so it stands out above the rest. Sometimes a simple, yet personalized, card is an appropriate solution to your budget woes. If you have a little more money to spend there is always the standard gift basket. But is “standard” really good enough for your best customers? “When choosing a holiday gift for clients, it is important to be thoughtful,” says Laurence Briggs, president and CEO of Republic of Texas Company Store. “When customers use our corporate gifting concierge service to add personalized touches to gifts, we always ask them to give us more information about their client. What holiday do they celebrate? What are their hobbies and interests? What is their industry?” Briggs reminds us that it is important to show your clients that you care by paying attention to the details. “You would be surprised to learn how many people who celebrate Hanukkah receive Christmas cards from their clients,” he says. That’s certainly not a good way to demonstrate your attention of detail and appreciation of a client. But not everyone can afford a corporate gifting concierge and high-end gifts. If you don’t have a budget for holiday gifts,...
B2B CFO’s Record Growth Surpasses 200 Partners and Shapes New Leadership Team

B2B CFO’s Record Growth Surpasses 200 Partners and Shapes New Leadership Team

B2B CFO Appoints Joseph C. Worth to Vice President of Operations and Expands In-House Digital Media Team B2B CFO’s record growth is pushing the firm to become the world’s largest CFO services firm with more than 200 Partners across 39 states and more than 800 clients across North America. B2B CFO surpassed the 200 Partner mark in September of 2011. Corresponding with the pace of the growth, the company today announced the appointment of Joseph C. Worth to Vice President of Operations. Jerry L. Mills, Founder and Chief Executive Officer of B2B CFO, said: “We have entered a very exciting time for B2B CFO. As we further drive our growth, we must focus on streamlining our operations and ensuring the consistency of our brand. Great people have always been the key to our success and I am so pleased to have Joe Worth join our executive ranks. His leadership skills, deep roots in service, sales and the financial industry will be an invaluable asset in our future growth.” “There are tremendous opportunities ahead for B2B CFO,” Mr. Worth said. “I look forward to further elevating the success of our firm by focusing on the individual development of each one of our Partners and supporting their accomplishments and growth.” Mr. Worth, who lives in Wall, NJ, first joined B2B CFO as Partner in 2007. In 2008, Jerry Mills turned to Mr. Worth to help create a custom sales training program for B2B CFO’s Partners. Since then, Mr. Worth has been leading the sales training for B2B CFO. Mr. Worth was instrumental in launching a new coaching program in 2011 that will further enhance the resources available to the...