Scott Geller – The CFO Perspective
Episode: How do I know I am generating as much profit as possible?
Date: February 8, 2021
IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow or exit a business. GROW WITH US.
I have 20 years of experience in the finance realm that started with the Federal Reserve Bank as a bank examiner, moved on to 7 years at a Fortune 300 insurance company, and then a 50-70 person spin-off technology firm under the Allianz umbrella of companies. I was with the spin-off from day zero all the way until the unfortunate end and I had to close down the business.
I am now a financial consultant serving primarily as a fractional or part time CFO for companies that range from start ups to young and scaling to established with stable growth. I take over from the accountant as a lean cost effective option for Profits Engineering, Cash Optimization, Strategic Acceleration and Executive Partnering committed to your success. Please contact me at firstname.lastname@example.org.
Show Objectives - The Why
Cash is like oxygen. When people don’t have oxygen, they die and so do businesses without cash. You need to store away cash always and put it in reserves. In order to put cash away, the company needs to be profitable. The market seems to have recently returned to valuing growth over profitability, similar to early 2000's, but I still believe and have been a witness where profitability is a necessity. The profitability might be in the future as with startups, but the profitability has to exist within the business model.
Business leaders tend to gauge the profitability of a business by reviewing the income statement at face value. I've seen where the income statement might have the titles, structure, and maybe even calculating margin ratios; however, the statement doesn't reflect the true profitability and at times is even misleading management. The key is to dig under that face value, understand key drivers, utilize applicable tools, and leverage the perspective and experience of a CFO. The next step is to us that knowledge to create or identify untapped profitability that circulates oxygen (cash) to survive and grow.
What You Need to Know - The What
What You Need to Do - The How
PPREVIOUS : Episode 4 - 2021_02_01 - How do I increase revenue “financially”?
NEXT: Episode 6 - 2021_02_15_ Should my CFO be involved in my tech and innovation efforts?
You can connect with Scott via his website or LinkedIn
Connect on LinkedIn
See Scott’s Website
new choice for BUSINESS SEARCH