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Changing Lives

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Crowdfunding is No Joke

People might have laughed when twin brothers Alan and Gerry Keery first said they needed to raise around $100,000 to open a café that would only offer breakfast cereals, but thanks to the widespread publicity they garnered from their appeal on the crowdfunding site, Indiegogo, they were able to raise the funds they needed.

Although the funds didn’t come from the Indiegogo platform, the news of the Keery’s plan did attract the interest of outside investors who found it hugely palatable.[i] That meant the brothers were then able to open the first Cereal Killer Café.

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Warning: Without Exit Planning, You Could Be Left With Nothing

Do you dream of selling your business for a very tidy profit so you can retire and spend your days on luxury cruises or working on your golf handicap?

Well, without an exit plan, your dream may be just that; a dream that never comes to fruition.

Sell at the wrong time or without thinking about the impact of taxation, for example, and you really could be left with nothing to show for your years of hard work.

Why Every Business Needs a Good CFO
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Keys for Cash Flow Management

All too many business owners think that the battle is won once the marketing rolls out and the product is sold. They see that their investment of time and resources has paid off and therefore, assume that their goal has been achieved.

However, the fruit of these hard-won victories will quickly run out if the accounts receivable, as well as the accounts payable, is not carefully maintained with a structured cash-flow management plan.

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Why Every Business Needs a Good CFO

Ask any bank manager who their worst customers are and they will quickly tell you: the people who have no idea what is going on in their business. Some customers ask for finance or expect to maintain an overdraft, yet they cannot even produce up-to-date accounts!

As a business grows, it will need to delegate key tasks to experienced and qualified team members. The areas the business owner will seek help in first will be determined by the focus and needs of the business;

Operational Skills
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How a Strategic CFO can Help to Double your Business in 2016

Despite some analysts’ grim financial forecasts, 2016 can be a year of exponential growth for your business. The key is to think big and to think outside the box.

Instead of making a list of all the ways you can cut back, make a list of all the ways you can increase your revenue tenfold. Once you have done this, narrow it down to the best three.

Now, you will need a plan of action.

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The Importance of the Modern CFO

In today’s business world, the job of a CFO is not simply to keep track of a company’s cash-flow but also to find ways of improving it. The CFO analyses accounts and contracts, identifies those which are reaping returns, those that could reap better returns and those which should be pruned. In other words, the modern CFO is not just a “bean counter” but a “bean grower,” as well.

Although the CEO may be in charge of drawing up the big picture,

Rate Your Company's Finance Function in 7 Minutes Using New ‘F Score’ Test
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Rate Your Company’s Finance Function in 7 Minutes Using New ‘F Score’ Test

The CFO Centre has developed a quick and efficient tool for rating your company’s finance function: the ‘F Score’ test.  This test takes around 7 minutes to complete, covers the 12 key areas of your finance function and provides you with a detailed eight page report.

The purpose of this report is to provide you with your ‘F Score’ profile, from which you will learn about the role of the finance function in the wider context of your business as well as highlighting key areas where significant and valuable improvements can be made.

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Rolling Back The Years…

Rolling Back The Years…

The comedian Barry Cryer tells a story about a Finance Director walking down the street. The FD is approached by a homeless man. “Excuse me, mate” says the man “can you spare me a few quid, I haven’t eaten for two weeks”? “ I see” says the FD “And how does that compare with the same period last year”?

Of course, no FD would be that heartless but the story also hides a deeper truth – most of us think in fixed periods of time,

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Why ‘discipline’ wins over ‘innovation’ as the key characteristic of highly successful business owners…

You might well know how to grow (i.e. do more of the things that are working for you, and do them better) but as a seasoned entrepreneur, you tend to instinctively want to hold back a bit…
Why?

It’s chiefly a case of paranoia…

Business owners tend to be more paranoid than they let on. They don’t like to be regarded as paranoid so they often hide it.

What are the causes of success?

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7 Habits of Highly Effective Finance Directors

Colin Mills – Founder & CEO, The FD Centre Limited (www.thefdcentre.co.uk)

So, to be a highly effective FD in your business, you have to be up to date on all the latest accounting standards, be really up to speed on the latest developments in tax legislation and spend long hours in your office reviewing reconciliations and signing off VAT returns. That’s right isn’t it?

NO.

Our experience over ten years suggests that highly effective FDs need a rather different set of skills to be effective and “make a difference” in the businesses they work for.

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