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John Lafferty is the Problem Solver – Week 3

by John Lafferty on February 16, 2012

This month, we continue to profile the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read through these profiles, ask yourself, “Does this sound like an issue that my business is having”?

Week 3 – Keeping On Point–Online

Place: Around the World (international business)

Company Type: Web-based Venture

The Situation: One of the first companies to make successful use of the explosion of the internet was, despite their solid marketing and massive initial success, having difficulty in managing their cash flow and meeting consumer demand. Instead, they were dealing with a high cash burn and an inability to remain objective when faced with directing their company.

What happens when a company can no longer keep objectivity at the forefront of their business?  What is the first step to remedying this lack before it disturbs the management and operations?

The John Lafferty Solution

Enter hands-on professional, interim Chief Financial Officer (more commonly referred to as CFO) John Lafferty. Putting his strong directional style and leadership qualities to use, he applied his business savvy to serve as an interface between this web-based business, and audit and venture capital firms.

The CFO-Pro Solution: Acting in his role as financial mentor, Mr. Lafferty helped to provide “the objectivity necessary to obtain a new round of venture capital funding.”  He also streamlined the tracking of cash flow by directing the financial reporting and realigning the delegation of duties and reporting within the company.  The refocused company was so successful in fact, that shortly afterward; a larger competitor purchased it for a handsome sum exceeding $100 million.

Confusion over the direction of your business and keeping it successfully on track can create much tension. You need to have the right financial guidance to give your business solid direction and ease the tension.  With the knowledge that help is but a phone call away, your success can be assured and sustained. Contact John Lafferty at 630-269-7646 or JLafferty@CFO-Pro.com today!

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John Lafferty is the Problem Solver – Week 2

by John Lafferty on February 10, 2012

This month, we continue to profile the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read through these profiles, ask yourself, “does this sound like a issue that my business is having”?

Week 2 – Food Service and Financials

Place: Chicago, Illinois

Company Type: Food Services

The Situation: A specialty catering and food service company was doing well for themselves. Gradually, however, growth and profit slacked, before coming to a veritable standstill:

Stalled growth. What happens when you wake up one day and realize that your company has hit a plateau?  How do you shift the focus of your operation (and where do you shift it to) in order to stimulate growth to the next level?

The John Lafferty Solution

Enter hands-on professional, interim Chief Financial Officer (more commonly referred to as CFO) John Lafferty. Using his keen insight, he applies his financial prowess in combination with solid business sense to aid the executive team in understanding the key financial indicators, and then how to use those indicators to drive profitable growth.

The CFO-Pro Solution:  Acting in his role as financial mentor, Mr. Lafferty helped to “hone executive management skills and help department heads understand financial statements, determine product line gross margins, break-even sales points and product line contribution margins.” He also illuminated what areas they could afford to take risk, creating customizable immediate action plans, and showing which actions were necessary to meet their year-end objectives.  In the years that followed, sales grew by 250% and profit margins kept pace with sales.

The plateauing of the growth of a business can be a stressful situation. You need to have the right financial guidance to give your business solid direction and replace the stress with confidence in the new path of your company. Contact John Lafferty at 630-269-7646 or JLafferty@CFO-Pro.com today!

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John Lafferty is the Problem Solver – Week 1

February 2, 2012

Usually, we start the month with a series of posts that help businesses stay on track for financial growth. This month, we are profiling the work that John Lafferty has done to refocus and maintain the financial stability of various companies. As you read the profiles this month, ask yourself, “does this sound like a [...]

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Back to Basics – Do You Have the Right Chart of Accounts? – Week 4

January 26, 2012

For those not inclined to be organized, the idea of doing your own accounting beyond balancing your checkbook may make you a little queasy.  However, you’ve managed to keep your lunch this far, and guess what?  You’re almost done!  Over the past three weeks, we’ve discussed balance sheets, income statements, and cash flow statements; today, [...]

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Back to Basics – Understanding the Cash Flow Statement – Week 3

January 19, 2012

To reiterate, there are four main types of financial statements: the balance sheet, the income statement, the cash flow statement, and the statement of shareholder’s equity. Balance sheets were our first topic of discussion this month; last week we covered income statements; now it’s on to cash flow statements. There is a difference between profit — [...]

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Back to Basics – Managing Your Finances 101 – Week 2

January 12, 2012

It’s easy to become daunted when faced with the intricacies of financial statements, especially when you’re a new business owner. Fortunately, you don’t have to have an MBA in order to make sense of your financial statements, and you don’t have to fear the challenges presented by this very important part of your business. Week [...]

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