Author Archives: Carter Freeman

Seven Common Mistakes in Strategic Planning

Strategic planning can be critical to the success of a business. As a Consulting CFO, I have been engaged in many strategic planning sessions over the years and I find that there are common mistakes leaders make. Here are some examples and ways to mitigate the challenges.   Using an internal facilitator who does not …

How to Determine if You Need New Accounting Software Part Two – Systems Selection

In part one of this series, I identified the considerations you should keep in mind when deciding whether or not your company has outgrown Quickbooks. Part two covers how systems selection is the first big hurdle in a conversion.  Selecting the “wrong” system is not an uncommon mistake and the “right” system may be one of several …

How to Determine if You Need New Accounting Software Part One

A common concern for many of our clients is in regards to their accounting software, specifically QuickBooks. Deciding when to make the switch from QuickBooks for a more robust accounting or Enterprise Resource Planning (ERP) system is no trivial matter. On the one hand, once a company has outgrown QuickBooks, remaining with it may limit …

The Single BEST Way to Prevent Financial Fraud

Financial fraud is a bad scenario for business owners. Beyond the embarrassment or the financial loss, fraud can also result in the termination of a long-term employee. A few factors may put a company at risk; however, the primary cause is a lack of internal controls and oversight. We also find that a lack of …

How to Fund Your Business

Options to fund a business range from family and friends to banks to institutional capital and business owners are best served by understanding the advantages and disadvantages of each option before making this decision. Read more below for tips on navigating this process effectively. Overview of the Stages: Even though every company has a timeline, …

Effective Methods for Projecting Revenue

When it comes to revenue planning, there are a few different ways to gather relevant data needed to produce a comprehensive budget, including resource-based projecting and market-based projecting, which take historical data into account, and analog-based projecting, which looks at comparable business models. Resource-Based Projecting utilizes your company’s history to forecast your sales. Understanding the …

What Level of Financial Expertise Does Your Company Need?

When companies approach me seeking financial expertise, they are often unsure what type of financial role or position will best accomplish their goals. However, there are a variety of factors that can affect this decision, including company size, growth potential, current internal resources, the state of finances and more. Even as a practicing CFO, after …

Shopping Your Insurance Carrier (and Your Broker)

He’s the most personable guy in the world. He always wants to take you to play golf or to baseball, basketball, football or hockey games. But does he really work hard to get you the best coverage at the best price, or is he more interested in playing golf? Who does he work for really? …