Hiring a Chief Financial Officer (CFO) with the skills to take a startup company to profitability is the most important decision a startup can make. The three most important skills of a startup CFO are calculating your cash burn rate, managing your cash burn rate and achieving profitability in the fastest time possible. What is […]
The Three Most Important Skills of a Startup CFO Read More »
Who’s watching your bottom line? The functions of the accounting and finance department in any business can get a little confusing. Entrepreneurs tend think and move quickly, so ensuring the accounting department is stable is pivotal in the growth of your business. Over the next few articles, we’ll discuss how you can clearly define roles
Key Functions of Your Accounting Department Read More »
Systems create success. We have seen this time and again with small businesses, larger businesses, and especially start-ups. If you can find a way to systematize your back office processes, then you can stop worrying about day-to-day operations and focus on building your business. Properly designed systems take care of themselves. This especially applies to
Start-ups Need to Focus on Their Business, Not the Back Office Read More »
When we formed the Pacific Crest Group in 2003, our mission was to help business owners focus on the core activities that would help them succeed. We realized that as any company starts to grow, back-office operations become a distraction. And as we offered accounting services to our clients, we discovered that accounting was intertwined
Accounting, HR, IT: The Holy Trinity of the Back-Office Read More »
All entrepreneurs dream of building their company into something they can be proud of, and that will sustain them in retirement. After years of building your business, it would be great to find someone to pay you a small fortune as a reward for your hard work and take the business off your hands so
Preparing Your Exit Strategy Read More »
We have worked with many small to mid-sized Bay Area companies over the last decade, from struggling momand-pop shops to fledgling start-ups that are clearly on their way to success and profitability. What we have observed is that in almost all these cases they often start to commit valuable cash and resources to staff the
Succession Planning Should Start the Day You Open Your Doors Read More »
Cash is the lifeblood of any business, large or small. And for smaller businesses, it’s even more critical to have cash in the bank not only to cover immediate expenses, such as payroll and expenses, and fixed expenses like rent and utilities, but also emergencies. Cash is king, but maintaining positive cash flow can be
Priming the Pump to Improve Cash Flow for Your Small Business Read More »
What Is “Outsourcing” The essence of “Outsourcing” is the locating and utilization of external resources to help simplify specific operational functions within an organization. Many companies outsource in order to… • Reduce their operational costs; • Supplement their internal resources; • Simplify their overall internal operational structure. But be aware, using outsourced services effectively is
The Rewards of Outsourcing Read More »
As we noted in our last blog entry, the role of the CFO and the controller are very different in today’s business operations. While the CFO is responsible for more strategic counsel and overseeing your company’s fiscal performance as it relates to the market at large, the controller is responsible for guiding operations on a
The Controller Holds the Key to Your Profitability Read More »
Maintaining the fiscal health of your company is a team effort, and with changing technological capabilities and market conditions, the roles of all the executive team members continue to evolve. The CFO and the controller are the principle players who manage day-to-day financial operations; the CFO is responsible for keeping the company on track by
The Changing Role of the CFO Read More »
Please use the attached Excel Templates to create a basic KPI report for your business. Download Your Free copy of this Example KPI Template with graphs Download Your Free copy of this Basic KPI Report Template
Key Performance Indicators – Basic Report Template Read More »
Introduction to Key Performance Indicators “85% of organizational problems can be attributed to processes and management, while workers are responsible for only 15%” Aurel Brudan, CEO of smartKPIs.com Key Performance Indicators (KPIs) are among the most commonly used tools that companies employ to help manage more effectively and guide their progress. It allows for transparency
Applying Key Performance Indicators to Build Your Business Read More »