73: Financial Performance & Forecasting Considerations for Retirement, Business Sale, and Business Transfer
Today on Build Value By Choice, Nana is joined by Mark Crowley to discuss financial performance and forecasting considerations for retirement, business sale, and business transfer. Mark has over 30 years experience, is a Partner at B2B CFO and provides strategic guidance to small business owners to help them overcome the financial challenges they face.
KEY TAKEAWAYS
- Most people get into business because they have a passion and have value they can add for their customers, they don’t get into business to do administration. Mark’s first piece of advice is to think through what you want and what information you need from your financial situation for your business to operate.
- Mark’s second piece of advice is to organize your books and records in a way that provides you the information you now know you need and makes it easily accessible.
- Things move fast for small business owners and they have to wear a lot of hats and make a lot of decisions so they need good information to be able to make those decisions.
- All of Mark’s clients have at least a 13 week forecast of rolling cash flow. He chose 13 weeks because you’re always looking one quarter ahead. This allows you to react to potential problems ahead of time.
- A lot of business owners don’t plan correctly for their transition or sale, this leads them to getting less than they may have expected. If you set up your business in a way that is not overly dependent on one person through systems and processes you will be able to achieve a better sales result.
BEST MOMENTS
‘Begin with the end in mind’
‘Most business owners don’t look ahead to what information they will need’
‘It’s rewarding in the small business environment because you can watch the business owner become more successful’
EPISODE RESOURCES
Website: b2bcfo.com/mark-crowley/
LinkedIn: linkedin.com/in/markcrowleycfo
Email: MarkCrowley@b2bcfo.com
VALUABLE RESOURCES
Infinite Horizons Free Webinar
Leave your comments on the show’s facebook community page: https://www.facebook.com/Buildvaluebychoice
Get your free valuation here: https://bit.ly/get-free-valuation
Podcast website: https://infhorizons.com/podcast/
Don’t forget to subscribe to the podcast and share it.
ABOUT THE GUEST
Mark is a Partner at B2B CFO and provides strategic guidance to small business owners to help them overcome the financial challenges they face.
With over 30 years of experience in financial planning, consulting, and auditing, Mark has a wealth of insight into how business owners can successfully manage their finances. Today, he will be discussing financial performance and forecasting considerations for retirement, business sale, and business transfer.
PODCAST DESCRIPTION
Hosted by Nana Bonsu of Infinite Horizons, this show aims to serve small business owners who want to grow their businesses while reducing their own personal involvement. We do this through a combination of interviews with industry leaders, and host presentations. We are certified value builder advisors and leverage a statistically proven methodology to help clients such as you scale or transition their business to the next chapter.
We care for our listeners and see their dreams as our own. We aim to foster a community that embraces freedom, generosity, and integrity. This is a show by entrepreneurs and business owners for entrepreneurs and business owners.
ABOUT THE HOST
Nana Bonsu:
“I am an entrepreneur and ex-Corporate Executive who’s applying his experience and knowledge from working in various ways to pursue my passion of helping small business owners increase their choices in life by leveraging my knowledge and experience, their employees, systems and money. I help small business owners transform their business and increase value through action-oriented education and implementation of strategies and tactics to make their business sellable even if they are not planning on selling. Known for establishing an environment for personal growth and development. My multicultural background equips me with the intuitive understanding of different cultures and how they impact business owners.”
Infinite Horizons, Inc. on LinkedIn
See omnystudio.com/listener for privacy information.