The CFO'S Perspective

Nick Anderson & Bill Palmer - The 3 P’s

Nick Anderson (Columbia Bank) recently invited Bill Palmer (CFO Selections) to be interviewed in a 4-video series. Nick and Bill had an in-depth conversation about the 3 P’s:

  1. Finding the right Partner
  2. Getting the right Products
  3. Negotiating a fair Price.

The series was shared via LinkedIn but in case you missed it, we have the four-video series wrapped up into one.

Topics: Planning CFO Selections Video

Types of Cloud-Based Accounting & Financial Apps Our Clients are Using

On to the cloud… Accounting and finance applications have been expanding into the cloud ever since the advent of the internet.  In Seattle, Amazon AWS and Microsoft Azure are betting their future on the cloud which has had a huge impact on the local community.  I see more and more cloud based  accounting and financial applications that perform critical business functions. Each makes the promise to bring cost savings and efficiencies to the business owner. 

To determine how cloud applications were impacting our clients, I surveyed our associates (contract CFOs, controllers, accountants and bookkeepers) to see how extensive cloud-based applications are being used.

Topics: Planning Accounting System

How to Become a Chief Financial Officer (CFO)

Becoming a Chief Financial Officer (CFO) is often the ultimate executive goal for those who have made finance their career. The position offers challenges, variety, and opportunities for growth. A good income is frosting on the cake.

Topics: CFO Planning CFO Responsibilities

What if Tomorrow is Not Like Today? Part II: Preparing for Disasters at Work

Most of us believe we are prepared for the everyday kind of disaster at work:  We carry extra cash, safety pins, and a cell phone.  We keep a granola bar (or five) in our desk.  In Seattle, we never, ever, let the coffee pot run out. But while all these things are good (especially the coffee pot), most of us never think about what we would do if a true disaster struck during the time we are at work -- the place/s where we spend more waking hours than anywhere else.   

Let's take the case of an earthquake, since that's our most likely Puget Sound area disaster, and the basic things to prepare for if one occurs during our workday apply to many other scenarios as well.  

Topics: Planning Financial Projections Forecasting

How to Close a Business Successfully

I have not failed. I've just found 10,000 ways that won't work.
- Thomas A. Edison

For whatever reason, you've determined that it's time to close the doors and walk away from your business. Shutting down your business may be the hardest thing you'll ever do, but it's not uncommon. In fact, 90 percent of start-ups and early-stage companies close each year in the U.S.

If it's any consolation, most successful entrepreneurs have failed previously at some venture - or several. Walt Disney was reportedly fired by a newspaper editor for having no imagination and lacking good ideas.

Currently the world's richest businessman, Jeff Bezos had several failed ideas before Amazon took off. Most notably, his auction business called zShops never gained any traction. It's important to realize that it's okay to stop pursuing an enterprise that isn't working and start doing something else.

Closing a business, however, involves more than just shutting the doors and walking away. If you do this, you could open yourself up to unnecessary fees, loss of personal and business reputation, and even lawsuits. When making decisions about closing a business,  visibility to see issues coming is vital. Good financial advice is a great place to start.

Topics: Planning Budgeting Forecasting