Your CFO ADVANTAGE Seven Step Process

Step One: Critical Factors Analysis

In the initial step of the process we spend considerable time organizing, prioritizing and planning. We begin the engagement by spending sufficient time with the owner getting to know their business, their long-term business and personal goals, their frustrations and their best current opportunities. From these conversations we work to develop a plan of action or "roadmap", as we like to call it, which helps us prioritize our goals and develop a strategy to implement them. At this point we normally develop a financial plan and begin the valuation process to give us a starting value for the company and compare it to others in the industry.

Step Two: Putting Out Fires

In step one, we normally identify some "big issues" which need to be addressed immediately. These can be potential legal liabilities, taxation issues, lack of planning issues, or major frustrations on the part of the business owner. We work closely with the team of advisors (CPA, Attorney, banker, insurance proffessionals, etc.) to develop a "roadmap" to resolve these issues. Normally these issues have been lurking for several years.  Although the process can be tedious the business owner's stress and frustration level is reduced so we can focus on some of the fun stuff (making more money and keeping it).

Step Three: Covering Your Backside

One of the biggest worries for a business owner is "What happens to my business and my family if something happens to me?" In step three we do extensive contingency planning so that we know now how the scenario will play out should the business owner be incapacitated or die. In this step we address buy sell agreements, successor management, stay bonus plans for key employees, asset protection strategies, insurance needs and analysis, wills, trusts and other necessary estate planning documents. Again in this step we normally see a reduction of the business owner's stress and worries since some of the unknown fears are planned for.

Step Four: More Money, More Profit, More Wealth

In Step Four of the process we start to get into the fun stuff, making more money and ultimately making the company more valuable when if comes time to exit. Since every business has its own unique needs the strategies we implement in this step vary greatly. A sampling of issues or strategies we may tackle are: team building, implementing technology, focusing on the most profitable areas of business, focusing on strengths and opportunities, eliminating frustrations and weaknesses, implementing written operating systems, incentive planning, marketing and sales plans, increasing efficiency, investment or asset purchase planning, and leadership vs. management. Steps Four, Five and Six normally take three to five years to fully implement. Once these steps are implemented we normally look back and wonder how we operated before the CFO Advantage process

Step Five: Keeping More of What You Make

In Step Five we strive to minimize the effects taxation has on your business and personal finances. In this step we work very closely with your CPA to do tax planning, create a benefits plan that best meets your needs, consider the effects of seperation of entities, setting up college plans, and assuring we are minimizing any estate tax liability that may come into play later on. This step changes as the effects of Step Four start to take place so constant monitoring is essential.

Step Six: Making Life Easier

Normally a business owner hires us because they have some big frustrations and are stressed out. An integral part of the CFO Advantage process is making life more enjoyable for the entrepreneur both in and outside of the business. I was once told that the ultimate test of your company is if a business owner were to take a year off—and then come back to find the business more valuable and profitable than before they left. We believe that every business can pass this test by prioritzing goals, developing pragmatic, process-driven strategies and implementing more effective systems. Then when the business is running smoothly, we can help the business owner focus on family relationships and enjoyable activities rather than being stressed out and working all of the time.

Step Seven: Ride Off Info The Sunset

The ultimate goal of the CFO Advantage process is to make your business as valuable as it can be for your retirement or eventual exit. In the final step of the process we help the business owner plan to sell the business to a third party or transfer the business to family members or employees. By doing exit planning years in advance of the sale we are able to get the owner the most money with the least taxes and hassles. We then help the business owner protect and grow the assets they have worked so hard to earn.