I believe all entrepreneurs deserve the chance to succeed by incorporating strategic financial management into their businesses processes.
When I work with you, I:
- Help you answer the most-asked question: “why-does-my-income-statement-look great, yet I have no cash?”
- Determine the real goal for your business by conducting an initial, pre-proposal meeting to learn what’s working and what’s not and steer you toward your ultimate goals
- Speak to you in your language about your operations, and translate finance into something that enables you to reach your operational goals
- Help you see the bigger financial picture, including all elements that impact your current cash reserves; show you the downstream effects of potential courses of action, and ensure you’ve got the right infrastructure for your plan
- Roll up our sleeves and create a plan to manage your cash flow and improve your cash position to fuel business growth
- Review our progress and pinpoint what ‘s been working, what we’ve learned, and how we can course correct over time
- Welcome you to call and talk things through (outside of billed hours), review your financials every month, and up your financial knowledge to move you beyond the day-to-day, and make better decisions
The construction industry requires two things from the finance department to make the business hum.
The first is the ability to communicate with operations and come up with accurate monthly WIP reports. Without this, the Company is prone to overspending and having cash flow issues.
The second and much harder is advanced planning and forecasting. Because of the volatile nature of the business, from the simple start and stop dates for the jobs to the extremely difficult recessions, forecasting is a must, with multiple iterations so that appropriate planning can be made.
This is an industry that is driven by finance; from allowed costs to wrap rate calculations, to Incurred Cost Reports.
Keeping accurate records for the pools that are needed/required to ascertain where the Company is at anytime during the year relative to that years preliminary rates is just a start.
Just as important is the ability to forecast future costs, and future wins, to calculate future rates. The bid process is dependent on knowing what the rates will be, not what they are.
True strategic planning starts with an end goal, so that all other plans and actions should move toward that goal.
The biggest misconception is that the end goal is static. It is not. However it is possible to set financial end goals that are relatively static that also accomplish multiple operational end goals.
I work with all businesses to set these goals and review them regularly to be sure we are doing all we can to get to the owners desired destination - Goals Attained!
Contact us for a free one hour consultation
Whether you say Outsourced CFO, Temporary CFO, Part Time CFO or CFO for Hire, the goal is to strengthen the finance department and bring them up to the same standards as Operations and Sales