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How to Prepare Now for Looming Bookkeeper Shortage: A SMB Guide
The conventional wisdom for several years has been that bookkeeping and accounting clerk positions are doomed for extinction. Automation has been expected to take the place of many manual and repetitive tasks in the accounting world, reducing the need for these paraprofessional positions. A recent article in Strategic Finance magazine puts a different spin on this topic. It’s two major conclusions are:…Read More -
How to Make the Most of Your Multigenerational Workforce
Many of today’s businesses employ workers from across the generational spectrum. Employees may range from Baby Boomers to members of Generation X to Millennials to the newest group, Generation Z. Managing a workforce with a wide age range requires flexibility and skill. If you’re successful, you’ll likely see higher employee morale, stronger productivity and a more positive work environment for…Read More -
Acquiring a Business? Ask Yourself These Questions First
Completing a business acquisition can be very exciting and rewarding. Set yourself up for long-term success by hiring financial, legal and business advisors to walk you through the process. Here are three key questions to ask yourself in the preliminary stages of an acquisition and then several other items to consider as you move into due diligence. Before considering the…Read More -
4 Creative Ways to Attract Millennials and the Newest Generation
The once private matter of how students are funding their education, has become one of the most talked about, and debated, topics of the past five years. We have all become painfully familiar with the facts; there is currently and estimated $1.6 T in outstanding student loans, with about 11% of borrowers already in default of their loans – compared…Read More -
4 Things to Remember When Searching for the Right Fractional CFO
Having the ability to engage with an experienced fractional CFO may be the solution your company needs to take it to the next level. An experienced CFO can keep the wheels of the business turning, bringing the strategy it needs to be competitive, while offering special project and mentoring assistance, as I explained in my last post, “5 Reasons to…Read More -
3 Best Practices for Achieving Organic Sales Growth
Most business owners would probably agree that, when it comes to sales, there’s always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition.
That’s not to say a merger or acquisition is necessarily a bad idea, but you can’t rely on major…Read More -
6 Business Trends CFOs Should Follow in 2020
To remain competitive, it is imperative to consider key trends in the market. As finance leaders, you must stay up to date on marketplace trends in not only finance and accounting, but also across the entire business. As you head into 2020, consider the following trends, their potential impact to your business, and how you may work across the organization…Read More -
5 Reasons to Hire a Fractional CFO
Almost every for-profit company in the world shares at least one thing in common: the desire to improve profitability. Nearly every nonprofit organization has a desire for additional resources to expand it’s mission. Often, however, a lack of in-house financial expertise can keep organizations of all sizes, industries and ownership types from reaching their goals. Although they realize the need…Read More -
Fahrenheit Awarded “Best Places to Work in VA” for 7th Consecutive Year
Fahrenheit Advisors is proud to announce it has been named as one of the 2020 Best Places to Work in Virginia. The annual list of the Best Places to Work in Virginia was created by Virginia Business Magazine and Best Companies Group. This is the seventh consecutive year Fahrenheit has been awarded this honor in the small business category. This…Read More -
Cost Management: A Budget’s Best Friend
If your company comes up over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward. As part of this effort, you’ll answer questions such as: Cost management can help you clearly differentiate activities…Read More -
5 Ways to Strengthen Your Business for the New Year
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both: 1. Compare 2019 Financial Performance to Budget…Read More -
Editor’s Pick: Top 8 Fahrenheit Advisors Posts of 2019
During the first few days of the year, it seems only natural to reflect on the past year. When we look back we can’t help but feel blessed by what we see, and we are extremely excited for what is to come for 2020. Most importantly, we’re looking forward to sharing what we know in person and within the Insights…Read More