Why do I love Profit First?

First: Because it Works! It has changed my business and helped most of the companies I work with become more profitable, build up cash reserves, and fuel growth in their business.

Second because Profit First is so easy to understand and get started!

Your 4-point Path to Meaningful Numbers and Clear Financial Reports

Meaningful numbers are a central theme at CFO on Speed Dial.

That’s because having and using meaningful numbers is the foundation for our entire framework for building business and financial success. If your financial reports are not meaningful; then they can’t do the job you need them to do — which is to make informed decisions about how to keep your company moving ahead strategically.

Leverage Limbo: How much is too much business debt?

Using loan funding (like the EIDL or other SBA small business loans) can be fantastic way to fuel a growing company, but how much business debt is too much? Here are two ways to check if your business borrowing is helping or hurting.

How to be sure your SBA EIDL Loan helps you do more than survive

Financial Strategy, Meaningful MoneyHello CFO on Speed DialMay 24, 2021Business Loans, business Debt, money management, Cash Management, Financial Projections, Fractional CFO, virtual cfo

Go from Cash Crunch to Cash Flow with Four Core Steps

Cash management is the #1 skill that can make or break a business. But If you’re still wondering why cash flow is so important; or how cash flow problems actually affect companies read these two case studies; and learn my Four Core steps to control cash, even when business dries up due to Covid-19 shutdown.

Meaningful MoneyChristine RicoJanuary 20, 2021Cash Management, Cash Flow

How to use a Cash Flow Forecast to Control Spending and Boost Profit

Too often, business owners become the victim of poor cash planning or “swiss cheese” style of cash management -- letting cash leak out of the business simply by not paying enough attention to expenses. In fact, 82% of businesses fail because of cash flow problems (according to a US Bank study,).

Being proactive and strategic in managing cash is critical to your business success. And the best way to do that is to start by crafting a detailed cash flow plan.

3 Steps to Craft a Flexible Financial Plan for Your Business

Business financial plans usually start with recent history and use a trend line to predict the future. For most companies, it's impossible to use 2020 revenue to predict reasonable sales or revenue growth for 2021. Still, when life and business are full of uncertainty; having a map of where you want to go and how you plan to get there is a critical tool.

So yes, in 2021, you can and should create a 12-month forecast to plot out a full year of what you think can or will happen. But, don’t treat it like a fixed business budget and try to make it 100% correct.

Instead, acknowledge something that has always been true:

Today’s forecast can’t fully predict next month’s challenges.

Are You Paying Yourself Enough?

Too many business owners leave their personal lives out of the financial equation. They’re so focused on the business’ ‘success’ that they never stop to consider where they want to be in relationship to it — now and in the future.

The thing is, we’re not just business owners, we’re people with families, retirement goals and any host of other responsibilities.

Where's the Money?

When cash is tight, seeing profit on your P&L does not feel like the truth you are living — because profit is not cash. There are dozens of places where your Balance Sheet is connected to your P&L. This post covers the top five.

Snowball Your Way Out of Debt in Six Simple Steps

We know all too well the heavy load debt can be in our lives. Debt is probably one of the biggest burdens in our consumer society, and one heck of a monster that puts a leash on your best efforts to gain wealth and keep it.