"Our Mission at Guiding Light CFO is to eradicate small business failure by offering expert financial strategies that help your business thrive."
Alright, alright, alright (in my Matthew McConaughey voice)... let's jump into this second Post. I must admit, I'm starting to get the writing muscles back little by little and it feels good. I've attempted several times and failed to maintain a blog before. I think it was mainly due to lack of focus and having the wrong motives. Now, I know without a doubt now what the purpose and mission is: to provide guidance and support to small business owners that are experiencing financial frustrations in their business especially when it comes to generating and growing positive cash flow.
For this post, let's continue the story of how I went from desiring to be a corporate raider / investment banker to becoming a Small Business CFO Advisor. Oh yeah, I'll share a couple of specific ways I provide guidance and support to small business owners to help them generate and grow positive cash flow.
In high school, I happened to take an Accounting elective course that I REALLY ENJOYED!!! I enjoyed math as well, but not as much as I did Accounting. It just made sense to me. While in college, I decided to pursue (and get my degree) in Economics and Business. Even though I still enjoyed Accounting, I enjoyed the 'college life' more. This didn't go well for my mental focus for sure.
After coming home from college, I didn't have any idea of what I wanted to pursue professionally. The goal up to this point was just to graduate and get a college degree. I failed to understand that REAL LIFE aka 'ADULTING' was patiently waiting on me and I wasn't prepared AT ALL. I flirted with the idea of taking a few more college courses and studying to obtain the CPA designation. Once I found out how much the exam was going to cost, I chose not to pursue. Now, when I think about this, I don't kick myself at all. Would having the CPA license been helpful? Absolutely!!! But, has not having it stopped me from doing what I find purposeful, allowing me to make a living and take care of my family, and providing valuable guidance and support to small business owners? Not in the slightest.
So, what did I do with myself besides eating up all of my Mom's food and laying around like an aimless mass of a human being? I GOT A JOB!!!
I did the only thing I knew how to do at the time and that's go get a job working in food service. All through high school, those were the only jobs I worked due mainly to not wanting to stretch myself and to stay in my comfort zone. After working a few food service, retail, and warehousing jobs, I decided that I was wasting away and needed to pursue a professional route. Hey, wait a minute, I came back to my senses and realized that I do have a college degree... why not try to put it to work? I began doing some online research at the local workforce development office and came across an accounting and finance recruiting firm, Accountemps. Hell, why not. I decided to create a profile and fill out an online application for one of their job listings... in less than a week, I got a phone call to come in for an interview. Uh oh, damn, I didn't expect it to work...
Let's fast forward 15 years for the purposes of today's post - Why Do You Need a Small Business CFO Advisor? Remember, I said earlier that I'm going to share with you a couple of ways that I provide guidance and support to small business owners in generating and growing positive cash flow.
One way is in creating and utilizing a 5 Year Strategic Plan. All too often, when working with small business owners, I hardly ever find where they've invested the time and focus in thinking of (and writing down) where they will be in 5 years of operating the business. I admit, it's exciting, sexy, and down right more fun to just jump in, start the business, and see where the days take you. However, in running a business, it's a recipe for disaster. I can't tell you how many small businesses (damn good businesses too) I've seen go off the rails and crash and burn for lack of a plan.
The second way I provide guidance and support is training small business owners in knowing and using the primary Revenue, Profit, and Cash Flow Drivers in their business to generate and grow positive cash flow consistently. Again, it's REALLY easy for small business owners to get caught up in the activities of operating their business that really has nothing to do with creating value (short term and long term) for themselves, their investors (or lenders), their employees, their vendors, and the communities in which they exist.
The key takeaway from today's post is - Don't waste your time as a small business owner doing things that have no purpose or focus. Yes, operating a small business is an adventure for sure full of ups, downs, and everything in between. But it should be one that's a defined and structured journey more than anything. There has to be a preset moment in the future where you as a small business owner get to reap the rewards of your hard earned blood, sweat, and tears. You have to have this in mind from the start.
Are You a Small Business Owner that's Experiencing Financial Frustration in Your Business and You're Feeling Stuck?
No Need to Be Stuck Any Longer... Book An Appointment and Let's Get Moving Again!!!
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