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!
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 issue that my business is having”?
Place: Salt Lake City, Utah
Company Type: Real Estate Broker
The Situation: A company finds itself in the enviable position of rapid growth — but with the unenviable and daunting situation of being ill prepared to manage an unexpectedly large increase in working capital needs.
The question on every one’s lips is, when a company finds itself in this position, how is it to conduct itself in order to make the most of its sudden opportunity? How do they handle the very real challenge of avoiding mismanagement, with the possibility of losing out on a real opportunity of growth?
The John Lafferty Solution
Enter hands-on professional, interim Chief Financial Officer (more commonly referred to as CFO) John Lafferty. Using his keen insight and business sense, he uses his financial prowess to aid the rapidly growing company in the development and implementation of a guide tailored to their needs.
The CFO-Pro Solution: He proceeds to assist in creating a sustainable plan covering everything from tracking cash flow to recreating their financial reporting format, highlighting where and how they can achieve their goals — “to double their number of agents within a tight time frame” — without the use of outside funds. Mr. Lafferty provided their company with the invaluable tools needed to capitalize on their opportunity and make their time of growth a smooth moment in their business’ history.
Rapid growth is a gift and a curse. You need to have the right financial guidance in place to ensure that growth does not become your demise. Contact John Lafferty at 630-269-7646 orJLafferty@CFO-Pro.com today!