Why Give More than We Take?

We work our whole life to acquire things. Yet, when our physical being perishes we go empty handed. I guess that is what drives many of us to believe in an afterlife. When we die our legacy in this life becomes the yardstick we are measured by. Most of us hope our legacy includes being remembered as a giving person. My concept of a giving…

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CFO Success Series: Financial Leadership Isn’t Optional

In a recent article, we identified some symptoms of and provided some remedies for an under-resourced Accounting, Finance and Treasury (AFT) team.  The antidote I prescribed aligns the Board and executives with the AFT team to alleviate the specific resource ailment that troubles many companies. However, the article did not discuss the underlying cause of the ailment – Poor leadership. A while back I was…

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using accurate financials

Using Accurate Financials to Increase Profitability

Situation: Developing financial expertise quickly: The owner of a company, which did $10 million in annual sales, was frustrated because his financial reports were incomplete, incorrect and late. He knew something had to change but did not have expertise to to solve the problems.

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risk mitigation

Risk Mitigation: Protect Margins and Reduced Risk

Situation: Lack of Risk Control A company that was highly dependent on the plastics sector of the oil industry failed to correlate the impact oil prices were having on its business. Its practice was to purchase inventory in advance, rather than at the same time it would bid on jobs. So, when commodities markets became very volatile, they ended up losing money because they had…

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merging businesses

Merging Businesses for Profitable Growth

Situation: Struggling Market Two co-operative agricultural companies were experiencing market drought. The owners didn’t get along very well and as competitors, they weren’t making conditions any more favorable for themselves. As a result, the idea of merging the businesses to achieve significant benefits for both didn’t seem plausible to either. However, their general managers saw things differently.

Posted by Steve Rosvold on .

lower cost

Lower Cost Through Better Reporting

Situation: Inefficient Operations An injection molding manufacturer was losing money. Its costing systems did not allow it to track project details, such as quantity of product used, time required and resulting waste. Without being able to plan accordingly, it had surplus raw materials that would decay and inventory that had to be discarded because product formulations had changed.

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Financing

Financing For Opportunity With Working Capital

Situation: Capital Constraints A retail Internet company working on very slim margins lacked the capital to build adequate inventory in advance of the holiday-season rush, its busiest time of year. The company had a $200,000 bank line of credit – it needed four times that amount to ensure it had enough inventory on hand to fill its holiday sales orders. To make matters worse from…

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finance systems

Connecting Finance To The Business Through Forecasting

Situation: Lack of Forecasting and Talent: A multi-million-dollar e-commerce company purchased packaging from overseas and assembled baskets of product that were sold online. While the activity at the time was very successful with good capital, the owner was unable to forecast for the future. This was compounded by a lack of staff with the appropriate training and backgrounds needed to accomplish that very task.

Posted by Steve Rosvold on .

executive management skills

Accelerate Executive Management Skills

Situation: Inadequate staffing A small, yet very profitable company in a growth phase was utilizing its Human Resources manager to look after the finances as well. It needed to divide those two roles and quickly groom someone for the position of CFO. The HR manager agreed to move over and undertake that new challenge despite not having a background in finance.

Posted by Steve Rosvold on .

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