We Got Your C-Suite, Right Here
This month’s edition of your favorite electronic newsletter, Bean There, Done That, could mean thousands of dollars to you and your business.
That’s because we explore the important topic of getting the right kind of financial insights to grow your company beyond anyone’s wildest imagination… and getting those insights for far less than your average high-falutin’ CEO pays.
You’re welcome!
Once again, thanks for making DK/RK Services your first choice in bookkeeping… and for passing this edition on to your many friends who’ll want to subscribe for a “monthly smile.”
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Wishing You Heaps Of Fun, And A Healthy Serving Of Beans.
A Healthy Serving of Beans
We Got Your C-Suite, Right Here
Bean There, Done That
Monthly Bookkeeping Wisdom From Your Friendly Bean-Counter
If you’ve ever worked for a big company, well, then, you know what it’s like to work for a big company.
One thing you’d be aware of is that, in the case of even the least sophisticated firms, big companies have a “C-Suite” of executives, all of whom have three-word titles that start with the word “Chief” and conclude with the word “Officer.”
These executives are the company’s “C(X)Os,” hence the term “C-Suite.”
Upstairs in the C-Suite, you’ll find the Chief Marketing Officer (CMO), the Chief Operations Officer (COO), the Chief Acronym Officer (CAO), and, of course, the Chief Executive Officer (CEO).
Of course, one of the most crucial positions in any big company is that of the Chief Financial Officer (CFO). I daresay the CFO is often the most important person in the company, right after the kid who brings in the donuts on Friday.
CFOs keep their big companies in tip-top shape, financially speaking. They keep the cash flow statements flowing, the balance sheets balanced, the pro formas in pro form, and the firm out of the red, to the extent possible.
For this, CFOs make a boat load of salary beans. In fact, while they’re counting their company’s beans, one of the biggest bean batches they have to count is their own salary and benefits.
But what about the little company? The small firm, or solo entrepreneur, who can’t afford a CFO-sized batch of beans and bennies to compensate for these key services?
The solo entrepreneur is, in fact, the entire C-Suite of their company, whether they know it or not. So when they need the kind of insightful financial advice a CEO could get from her CFO, they have to ask themselves for that advice, and then decide whether or not to take it.
But wait! It doesn’t have to be like that. Just as the solo entrepreneur or small-firm owner can buy acronyms on the open market, they can also get CFO-level advice and insights from a contract CFO, without having to add a huge salary (or C-Suite) to their firm.
(If you know of a business owner who’s buying acronyms on the open market, please have them call me. They really need some financial help. Just sayin.’)
Your Friendly Bean Counter (FBC – me) can be your CFO on a contract basis. It’s much more cost-effective for the small firm than adding a CFO to the payroll.
Why not make your FBC your CFO? You’ll get a partner who cares about your business all year long. She can help you examine risks and threats to your firm, as well as opportunities you might be able to pursue.
Your FBC/CFO, as an advocate for your firm, is an experienced thought partner with whom you can discuss your company’s needs (funding for major purchases, working capital, etc.). Your CFO can help you find other resources, too, through her vast and talented network.
A contract CFO can do for the small firm what a highly-paid CFO does for a big firm; she can help develop tools specific to your business to analyze key industry indicators, do some economic forecasts, and create cash flow projections.
Mostly, though, your contract CFO is a supportive member of your “executive team.” You’ll have a responsive, available financial pro you can always ask for insights that can truly help your company.
It’s great to be in business for yourself! But you don’t have to be in business by yourself. Make your FBC your contract CFO, and it won’t be quite so lonely there at the top.
Discussion Questions
- 1Say “biggest batch of beans and bennies” 14 times, real fast. Send selfie video as proof
- 2Where do you get your acronyms? Because I know a guy
- 3Are you ready to add CFO-level advice to your growing company, without adding a CFO and a whopping salary to your regular payroll?
Don’t forget: at DK/RK Services, you’re always “more than a number.” We WANT to take care of your bookkeeping, professionally and personably, so you can focus on running and growing a great business enterprise! Please check out our many enthusiastic FIVE STAR online reviews (Yelp, Google, Facebook, you name it). We look forward to earning our next great review from YOU.
You know someone who could use valuable bookkeeping insights… or, at least, a smile.
You know you do.
Forward Bean There, Done That to them… if they subscribe, you both win a prize!*
(* Prize is FREE editions of Bean There, Done That)
(Offer good through expiration, or while supplies last. “C” details in C-Suite. Some restrictions may, or may not, apply in restrictive places like Whynot, North Carolina.)
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Howl-dy! I’m Sadie.
Dottie’s My Person.
Sadie’s Paw Prints
“Perfect For Each Other” Is Perfect Enough
NOTE: Those of you who only use two legs for walking (how inefficient!) are sometimes unaware of how important it is to make sure you and your canine companion are a “good match.” If this describes you, read on to learn what we dogs look for in a human.
To those of you who, like me, make use of all four legs: Before you add a human companion to your family, make sure you’ve found a good fit.
Some humans have to be away from the house – and away from you – for long periods of time, engaging in activities such as “jobs” which we find frivolous and unnecessary. However, since these “jobs” put kibble in our bowls, we have to account for the time humans spend doing them.
That means that you won’t get as much attention as some breeds like (or require). If you’re a member of one of those breeds, look for a human who’s around most or all of the time (such as a retiree, or someone who does this “job” thing at home).
Plus, as you know, some of us are more energetic and enthusiastic, while some breeds are more laid-back and relaxed. Does your human’s personality mesh well with yours? Something to think about.
Also, does your human have “children,” which is what they call their puppies? If you like kids, that’s great… but some breeds of us don’t care for the youngsters and find it hard to put up with their childish shenanigans.
Finally, humans live with dogs for a variety of reasons – mostly because they (the humans) are the smart ones. However, one human might need you to perform certain duties, such as protection and defense, while another is just more into playing and hanging out.
So before you choose a human, give some thought to how compatible the two of you will be in the long run. There’s nothing like sharing your life with the perfect human to get that tail wagging.
Woof!
Non-Profit Spotlight
YOU Can Sponsor A Needy School Kid!
Angel Covers, one of our favorite non-profit organizations, does fantastic work with kids all over the globe, in places where help is needed most.
On the Tibetan Plateau, the Mama’s Wish program has made a real and positive impact on the lives of hundreds of young girls – but the program has had to be suspended due to the Chinese government’s 2018 moratorium on investments like these from foreign organizations.
But Angel Covers provides many other opportunities to sponsor children in the most challenging places in the world.
For instance, child trafficking is a real problem in Thailand – and the best way to help a girl avoid the danger of trafficking is to keep her in school. That’s what the Angel Covers GATE (Girls Advocacy Through Education) program does… and does well, with the help of sponsors.
In Kenya, the organization’s Humble Hearts school takes deaf and disadvantaged kids out of the Nairobi slums and gives them the education they need to forever change their lives for the better. Relatively speaking, it wouldn’t cost you much to sponsor a student at Humble Hearts.
And after graduation, Humble Hearts (thanks to sponsors) offers trade school training to ensure great careers that enable folks who might otherwise have lived desperate lives to be important contributors to their societies.
Find out more here:
https://angelcovers.org/how-to-help/sponsor/
… And be part of great changes in some of the most needy places in the world!
