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...
Read more »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...
Read more »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...
Read more »A recent Wall Street Journal opinion column by Auburn University at Montgomery professor Wyatt Wells opines that strategic plans are a waste of time. You can read that column by clicking...
Read more »Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20% of salespeople will make...
Read more »At many companies, a wide gap exists between the budgeting process and risk management. Failing to consider major threats could leave you vulnerable to high-impact hits to your budget if one or...
Read more »As more organizations emphasize the importance of strategic thinking among all of their leaders, the desire to develop this skill is voiced with increasing frequency by individuals seeking...
Read more »Oftentimes a start-up or lower middle-market company will have its product made by another company, usually a larger, specialized manufacturer. In many consumer packaged goods categories this use...
Read more »Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing...
Read more »Warren Buffet famously said, “It takes 20 years to build a reputation and five minutes to ruin it.” Every day, social media users confidently reply, “Mr. Buffet, hold my...
Read more »How does your company report on its human capital? This Harvard Business Review article challenges the traditional approach that I was taught, and that I see practiced by most companies I...
Read more »The stories in this article from The Chronicle of Philanthropy about NonProfit board members misusing their power ring all too true to me. Throughout my career, I have witnessed many effective...
Read more »Early in my career, I managed the Demand Management process for a food processor. Our primary business was private label production, so we had a large number of SKU’s. Trying to forecast them...
Read more »At a certain point, most growth-oriented companies decide to invest in ERP (Enterprise Resource Planning) software. ERP is software which integrates various business functions into one related...
Read more »Distraction and disengagement has become a cultural norm. We live in a world of distractions and disengagement. There is no end to the things we’re led to worry about, with digital devices...
Read more »Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for...
Read more »Over 20+ years in manufacturing, I have seen numerous examples where the use of 6 Sigma techniques has paid dividends in controlling quality and consistency of product. It is critical, however,...
Read more »Recently, members of The Business Roundtable – nearly 200 CEOs of major U.S. corporations – released a statement indicating: “We share a fundamental commitment to all of our stakeholders...
Read more »Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales...
Read more »What Were YOU Doing The Last Time Unemployment Was This Low? The last time unemployment was this low, gas was 35 cents a gallon, the US had just landed on the moon, The Beatles played for the last...
Read more »In terms of summer reading, I’m not a big fan of fiction. In fact, looking back at my reading list over the past decade I’d have to say I’ve definitely got a genre. To the exclusion of...
Read more »I finally stopped being a pig. My peers are tired of me pulling out the old saw: “The chicken is involved in a bacon and egg breakfast, the pig is committed,” but for a long time I thought I...
Read more »Does your business market its products or services to other companies? Or might it start doing so in the future? If so, it’s critical to recognize the key differences between...
Read more »You are the CEO of a growing business. Do you need to: Spend more time in areas of the business where you add the most value? Maximize cash? Add an operational finance perspective to...
Read more »Our firm recently attended the Association for Corporate Growth’s annual InterGrowth conference in Orlando, FL, which is one of the largest gatherings of middle market deal professionals in the...
Read more »Accounting software typically sells itself as much more than simple spreadsheet or ledger. The products tend to pride themselves on being comprehensive accounting information systems —...
Read more »I’ve been working in the nonprofit sector for about 23 years, employed by two cultural organizations and as a consultant to myriad others. After serving on nonprofit boards in the 1990s, I felt...
Read more »Can your business become more profitable without venturing out of its comfort zone? Of course! However, adding new products or services may not be the best way for your business — or any...
Read more »There is good reason why an enterprise resource plan (ERP) conversion is jokingly referred to by many as a "career killer.” Many companies, leveraging their brightest leaders, boasting robust...
Read more »Hi, everyone. Rachel Lutowsky here. I'm a new member of the Fahrenheit Advisors team, and I'm located in Phoenix, Arizona. My background includes 25 years in the field of organizational...
Read more »Business owners are constantly bombarded with terminology and buzzwords. Although you probably feel a need to keep up with the latest trends, you also may find that many of these ideas induce...
Read more »Companies tend to spend considerable time and resources training and upskilling their sales staff on how to handle existing customers. And this is, no doubt, a critical task. But don’t...
Read more »I recently read a blog post by Latasha Doyle of GuideStar that interested me greatly. The topic was how to best build a partnership with a for-profit entity. She wrote about four specific...
Read more »Most people know they’ll face financial difficulties with a subpar personal credit score. Your business credit score is important for the same reason. Various reporting agencies use proprietary...
Read more »Over the course of the past 25 years, I have had the opportunity to work alongside, coach and develop dozens of sales leaders across a wide array of industries and business challenges. Some of those...
Read more »So many factors go into making a company successful, but few are more important than developing the right talent internally. It’s interesting that this factor is often overlooked — or at a...
Read more »If you lived in Richmond, Virginia, in 1988, the place to go for killer seafood and a view was Sunday’s Restaurant in Brandermill, boasting locally sourced catch and stellar views of Swift Creek...
Read more »To prepare for the worst, every business owner should outline a general business turnaround strategy. It should begin with a keen awareness of warning signs such as poor key performance...
Read more »So, you’ve closed on an M&A deal and you’re going to make this new asset part of your existing organization. Diligence revealed that this addition to your business will support your strategic...
Read more »As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial...
Read more » Many business leaders I speak with want their organizations to become more civic minded. We also know that engaging employees in the process can be a be win-win for everyone; I discussed this in...
Read more »Smart business owners know that a good CPA is a valued business partnership. Very often we are asked “How do I select a CPA?” The basic answer comes in three steps. 1) Define your company’s...
Read more »For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive...
Read more »As private equity investors look for new businesses to acquire, their first selection screen will be against their firm’s unique investment criteria, including size (revenue and/or earnings),...
Read more »I recently read an article in Harvard Business Review by Graham Kenny entitled, “Your Strategic Plans Probably Aren’t Strategic, or Even Plans.” While not a new article or concept, the...
Read more »Every once in a while, I run across a sales expert I really like and make a point to follow. For me, that’s Mark Cranney . Mark Cranney has built enormous revenue streams for Opsware, Inc....
Read more »When people ask me if I like my job it’s very easy to say yes! I am fortunate enough to work for a company full of smart, fun and generous people. While we know it internally, it’s always...
Read more »In nearly every industry and particularly those in B2B markets, the sales organization is the...
Read more »Finding the right way to engage employees can be difficult. Done without much thought it can be hit or miss; like engaging the Magic 8 Ball for an answer. Sometimes the answer is “YES” or...
Read more » The promise of the new year lies ahead. One way to help ensure that it will be a profitable one is to re-evaluate your company’s pricing strategy. We recommend devising an approach that...
Read more »The Wall Street Journal recently ran an excellent article about the long decline of General Electric Company. I read the article with particular interest, as I do most articles about GE, since my...
Read more »One thing in plentiful supply to businesses is people who want to offer their help. Orbiting every industry are providers, consultancies and experts in the gig economy offering a wide array of...
Read more » I am fortunate to have one of our managing directors here at The Fahrenheit Group as my mentor. He is a well-respected CFO who has worked for many different companies throughout his career,...
Read more »A technician at a mobility equipment supplier was servicing the motorized wheelchair of a long-time...
Read more »What an honor for me! In front of nearly 40 nonprofit executives and board members, I shared the details of Fahrenheit Advisors’ expansion into the nonprofit sector. Sherrie Armstrong, CEO and...
Read more »I recently completed a twenty-year career as a tennis player with experience from NCAA Division 1 and European Tennis Circuits in Sweden and elsewhere around the world. I’ve since...
Read more »A strong economy leads some company owners to cut back on marketing. Why spend the money if business is so good? Others see it differently — a robust economy means more sales opportunities, so...
Read more »Are you a small business owner who wants to grow their business? Have more customers, enjoy more sales and offer more services or products? Growth often demands something else –...
Read more »When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start...
Read more »When you’ve been in business for 30+ years, you’re bound to experience highs and lows. In 2008 and 2009 — like many other small businesses — Target Marketing felt the pinch. Fast...
Read more »Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest and dips in demand may cause slowdowns that are beyond your...
Read more »Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that...
Read more »Understanding your business’s cash flow is essential to making sound financial decisions. Cash flow can be difficult to forecast in businesses with many segments, differing products and...
Read more »Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location. If your business has...
Read more » Just about every company has a value proposition, and most believe it’s compelling. Unfortunately, some companies discover that while the value prop makes perfect sense to those within the...
Read more »Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business...
Read more »As an accounting consultant, business owners often ask me about credit card expenses. Clients wonder, “Is it important to track credit card expenses like you would a vendor bill?” “How much...
Read more »IT consultants are many things — experts in their field, champions of the workaround and, generally, the “people persons” of the tech field. But they’re not magicians who, with the wave...
Read more »On June 19, 2018, the Department of Labor issued its “Final Rule” modifying the operation of Association Health Plans (AHP). The primary purpose of the new rules is to make it easier for...
Read more »Strategic planning is key to ensuring every company’s long-term viability, and goal setting is an indispensable step toward fulfilling those plans. Unfortunately, businesses often don’t...
Read more »OK, when you first hear me speak, it’s pretty clear right away I’m from England. Yes. Born and bred (GO, MAN U)! Like my fellow mates across the pond, I was absolutely obsessed with the World...
Read more »Technology is tricky. Much of today’s software is engineered so well that it will perform adequately for years. But new and better features are being created all the time. And if you’re not...
Read more »We live and work in an era of big data. Banks are active participants, keeping a keen eye on metrics that help them accurately estimate risk of default. As you look for a loan, try to find out how...
Read more »I am often asked by many of our business owners where else they should invest to ensure they will have enough money to live off of in the future. All have successful businesses that are the bulk...
Read more »I took my kids to see the new Star Wars movie over the holiday, and it was an amazing experience. Not because I finally got to see how Han Solo made the Kessel Run in less than 12 parsecs. Not...
Read more »Every year is a journey for a business. You begin with a set of objectives for the month ahead, probably encounter a few bumps along the way and, hopefully, reach your destination with some success...
Read more »Congrats! You've done the hard work, you've stuck it out and now you're a college graduate. You've been thinking of this event for 4 (or more) years. Next comes the perfect job. The one you see...
Read more »The attitudes and behaviors of your people managers play a critical role in your company's success. When your managers are putting forth their best effort, chances are greater that you'll, in turn,...
Read more »Working with small- to mid-sized businesses means virtually never having a low-cost/low-price strategy. Customer intimacy or technical innovation strategies rule. Imagine you make deodorant in...
Read more »An old business adage says, "Sales is a numbers game." In other words, the more potential buyers you face, the better your chances of making sales. This isn't completely true, of course; success also...
Read more »I came into the office on a beautiful Saturday morning to finish up some projects before writing this article. When I was finally ready to start, I found that I lacked a real direction for the post....
Read more »For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on....
Read more »Business, like life, has an ebb and flow. From startup to high growth to plateau ... it can be a wild, wonderful ride. For some, the journey includes unanticipated changes in ownership structure,...
Read more »Employees tend not to fully appreciate or use their retirement benefits unless their employer communicates with them about the plan clearly and regularly. But workers may miss or ignore your...
Read more »What keeps you up at night? We have all been asked this question, or asked it of ourselves many times. The list of worries is as long and varied as there are people and situations in the world today....
Read more »You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!” under the assumption that this high-tech concept...
Read more »Effective communication is important when dealing with employees and outsiders, such as vendors and clients, but it holds even greater importance with regards to your accounting department....
Read more »Many businesses train employees how to do their jobs and only their jobs. But amazing things can happen when you also teach staff members to actively involve themselves in a profitability process --...
Read more »Recently, I re-read a classic McKinsey article, "Cultivating the Right Leaders for Business Growth." This article crystallized for me why the high growth, small/medium businesses we work with here at...
Read more »You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you're a big fish in your pond, someone a little bigger may be swimming up just beneath...
Read more »When I think of my employer, the one phrase that always comes to mind is: "My employer gets it." What do I mean? Let me explain. I've been in HR for 20 years. From recruiting to employee relations...
Read more »Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves, and wild animals by fortifying their entire communities with walls and towers. Today's business...
Read more »Artificial intelligence is impacting all areas of our world - including the world of finance. While it is still in its infancy stage in our industry, AI and automation are definitely seeping into the...
Read more »With so much data flying around these days, it's easy for a company of any size to get overwhelmed. If something important falls through the cracks, say a contract renewal or outstanding bill, your...
Read more »Outside of marriage and the birth of a child, selling a business may be the most important life event an entrepreneur ever experiences, representing the financial reward from years of hard work,...
Read more »"We love our customers!" Every business owner says it. But all customers aren't created equal, and it's in your strategic interest to know which customers are really strengthening your bottom line...
Read more »I was employee #15 when I joined The Fahrenheit Group in 2014. Part of what drew me to join was the authenticity of the people I met and the alignment of my beliefs with the organization's...
Read more »From the baseball field to the boardroom, statistical analysis has changed various industries nationwide. With proper preparation and guidance, business owners can have at their fingertips a wealth...
Read more »A buy-sell agreement is a critical component of succession planning for many businesses. It sets the terms and conditions under which an owner's business interest can be sold to another owner (or...
Read more »While there is still much to be done before closing the books on 2017, it's not too early to start planning your businesses' strategic priorities and projects for the coming year. After all, if...
Read more »A buy-sell agreement is a critical component of succession planning for many businesses. It sets the terms and conditions under which an owner's business interest can be sold to another owner (or...
Read more »Is business going so well that you're thinking about adding another location? If this is the case, congratulations! But before you start planning the ribbon-cutting ceremony, take a step back and ask...
Read more »As a business owner or senior leader, have you calibrated your expectations with your accounting staff and have you stepped back and thought about the efficacy of your accounting team? When you...
Read more »As a business evolves, so must its compensation strategy. Hopefully, your company is growing -- perhaps adding employees or promoting staff members who are key to your success. But other things can...
Read more »Budgeting and planning for the upcoming year (or quarter or month) is a valuable opportunity for a business to identify goals, and excite and align employees. Unfortunately, most planning...
Read more »"Sorry, we don't carry that item." Or perhaps, "No, that's not part of our service package." How many times a year do your salespeople utter these words or ones like them? The specific number is...
Read more »Have you ever worked for an organization where change was not embraced and the status quo was expected? How did you feel about that experience? I have, and personally I found it to be disengaging to...
Read more »Today’s businesses operate in an era of hyper-connectedness and, unfortunately, a burgeoning global cybercrime industry. You can’t afford to hope you’ll luck out and avoid a cyberattack. It’s...
Read more »We have all heard the phrase “Cash is King,” it’s a mantra that successful businesses follow and the most important rule for early start-ups. The challenge is knowing when to be as frugal as...
Read more »Many companies take an ad hoc approach to technology. If you're among them, it's understandable; you probably had to automate some tasks before others, your tech needs have likely evolved over...
Read more »So, you've started your new small business, congratulations! You're on your way. But now the day-to-day logistics seem to be overwhelming. One of the very first steps you can take to save time and...
Read more »Every company has at least one owner. And, in many cases, there exists leadership down through the organizational chart. But not every business has strong governance. In a nutshell, governance is...
Read more »In Part I of this series Ron Cox discussed the definition of fraud, who the fraudsters are both inside and outside of your business, the specific areas in your business that are being...
Read more »Every business has some degree of ups and downs during the year. But cash flow fluctuations are much more intense for seasonal businesses. So, if your company defines itself as such, it's important...
Read more »This is Part I of a two-part series on fraud in the workplace. The Definition of Fraud According to the Institute of Internal Auditors, "fraud is any illegal act characterized by deceit,...
Read more »When it comes to transitioning your role as business owner to someone else, you'll face many changes. One of them is becoming a mentor. As such, you'll have to communicate clearly, show some...
Read more »This is the second of a two-part series titled "The Power of Adaptability" that discusses the increasing importance of adaptability in today's business environment. If you missed Part I, click...
Read more »How can you take advantage of the sales and marketing opportunities offered by today's digital technologies to grow your business? If you don't have a professional managing your digital marketing...
Read more »Businesses behave a lot like living organisms -- they require fuel (cash); they have inter-dependent organs (departments and teams), and they have unique personalities (culture). Just like all...
Read more »Just about every business intends to provide world-class customer service. And though many claim their customer service is exceptional, very few can back up that assertion. After all, once a company...
Read more »Implementing software can be a costly process, between the expense of the software and the time and labor it takes to complete the process. But, I urge you to invest time and resources in the...
Read more »Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made...
Read more »By Jeff Wraley, Senior Consultant In the world of sports, a mismatch describes the relationship between a superior player and an inferior player. Think: Lebron James vs most other mere...
Read more »You may hear the words “Accounting” and “Finance” and think they mean the same thing. However, there is a distinction between the two and understanding the difference will help your company...
Read more »An important part of creating value in a business is ensuring that the money invested in it is generating strong returns. This discussion focuses on capital investments made in property, plant, and...
Read more »If your company is planning a merger or acquisition, don't overlook an important factor — the existing benefit programs and liabilities of all parties. The decision to sell a company or expand...
Read more »Part C: Make Better Decisions Using Analysis and a Structured Approach Running a business requires you to make decisions every day. Some are simple and straightforward, but others are of major...
Read more »Companies of all sizes have begun to understand the value of building control and reporting systems focused on addressing compliance and risk rather than just complying with regulations. The...
Read more »A band of friends grows up together and goes to work in a niche manufacturing company owned by one of their fathers and serving the private aircraft industry, a risk-averse and highly loyal business...
Read more »By Jeff Wraley, Senior Consultant, Finance & Advisory Practice, The Fahrenheit Group A few months ago, Simon Senek, an author, speaker, and consultant, was interviewed about millennials in the...
Read more »Maximizing employee productivity on a sustainable basis can be an elusive goal. But a properly designed incentive compensation plan can play a big part in making it happen. The trick is to not go...
Read more »Part B: Developing Reporting that Helps You Increase Company Performance Generating clear reporting, and setting up processes to review and act on this reporting, enables you to better control...
Read more »Over the past few years I have been involved in, or at least aware of, several cases where owners of privately held businesses sold their company and agreed to stay on working for the new...
Read more »Part A: Five Steps to Creating an Effective Budget Developing and managing to a budget is a cornerstone of maximizing your business’ performance. The positive impact of a budget begins even...
Read more »By Russ Gambrel, Senior Consultant, Finance & Advisors Practice at The Fahrenheit Group I’ve spent a good chunk of the past two decades designing and assessing control systems for...
Read more »Every employer talks about empowering their employees and giving them the authority to make decisions in the business. The question is “are employees actually capable of executing and are you, as...
Read more »This article continues Fahrenheit's series exploring business metrics relevant to the Software as a Service (SaaS) industry. Each article briefly explores a key SaaS metric, including the definition,...
Read more »Outside of marriage and the birth of a child, selling a business may be the most important life event an entrepreneur ever experiences, representing the financial reward from years of hard work,...
Read more »I recently came across this (older) article in Entrepreneur written by Jane Porter. The content is on point whether you still need to select a tax preparer for this year or you need to reassess your...
Read more »You have your college degree...now what? The job market post-graduation may seem boundless, exciting, or perhaps daunting. One thing is certain, it is competitive. Garnering attention by the...
Read more »I’ve met with many business owners from all walks of life, and whether they were a founder looking to finally realize the monetary reward from their life’s work or a private equity professional...
Read more »Finding great talent is a challenge. Another 177,000 new jobs were added to the U.S. economy last month and it appears there will be another bump soon in business activity given potential...
Read more »Acquiring another company and merging it with your business can be the most efficient way to grow. But many acquisitions don't pay off and it's often management issues — not market conditions —...
Read more »With 2017 right around the corner, so many companies are already feeling the effects of shrinking candidate pools and an ever changing workforce. Successful organizations will be those that can...
Read more »When good employees quit, it can have a significant impact on many aspects of the business. From lowered morale to increased workloads, the entire team suffers. Factoring in the time and expense...
Read more »Doug Jones, a Managing Director at Fahrenheit and QuickBooks Pro Advisor, recently attended the 3rd annual QuickBooks Connect convention in San Jose, California. The following is a synopsis of...
Read more »Want to be a Better Coach? Of course you do! Most of us, when we are honest with ourselves, realize we could be better coaches. And employees agree – most executives don’t get high marks...
Read more »This article continues Fahrenheit’s series exploring business metrics relevant to the Software as a Service (SaaS) industry. Each article briefly explores a relevant SaaS key metric, including the...
Read more »The federal and Virginia R&D tax credits are often overlooked or underutilized by eligible companies. Your company should make sure it is gaining full benefit of...
Read more »A growing trend among leading private equity groups is to provide supplemental resources to the management teams of their portfolio companies that are being prepped for sale. And sponsors...
Read more »Founders of startups face countless obstacles every day. Many of those challenges, if not all of them, have to do with money and not having enough of it. Naturally, founders bootstrap and find cheap...
Read more »Finding just the right financing to start or expand your company is a complex process that involves uncovering sources of money, using the proper means and evaluating whether the timing is good. If...
Read more »In 2010 when we launched The Fahrenheit Group, acquiring talent was considerably different than it is today. The global economic crisis in 2008 and 2009 had created a large, available candidate...
Read more »Finding the right employee to fill a job opening can be a significant challenge for employers. Many employers are not prepared for the fast pace that is required in today’s market to land the right...
Read more »Over the past 6 months, I have witnessed several closely-held businesses struggle with misalignment among the partners and seniors leaders. Working to implement business strategy without alignment is...
Read more »If your company has decided the best way to grow is to expand your ownership boundaries, you are probably considering either a merger or an acquisition. Both are convenient, quick ways to grow,...
Read more »You have probably heard a good bit of chatter about Big Data and how it is transforming the world of business. This is absolutely true for large businesses that fit a certain profile – businesses...
Read more »Think that creativity in business is limited to what goes on in the advertising or marketing departments? Think again. Innovation and fresh ideas are needed in all parts of a company to stay ahead...
Read more »When it comes to structuring a successful M&A transaction, existing trademarks play an important role for both parties involved. Valuing trademarks and creating a strategic vision for them can...
Read more »Most employees are driven by fresh opportunities and the chance to grow. Make sure that a valued employee never tells you during an exit interview: "I'm leaving the company to advance my career and...
Read more »Recent changes adopted by many states regarding taxable income apportionment require attention from business taxpayers filing returns in multiple jurisdictions. Some taxpayers may realize at least a...
Read more »The Public Sector is a complex market with a large variety of companies focusing on supplying goods and services to this customer base. In addition, there are a vast number of customers within the...
Read more »The SaaS Business Metrics Series, Part 2: CAC Payback This article continues Fahrenheit's series exploring business metrics relevant to the Software as a Service (SaaS) industry. Each article...
Read more »Recently I came across a conversation regarding the advantages of 'earnouts' when selling a company. Earnouts can sometimes be used effectively to bridge a price difference between buyer and seller;...
Read more »Recently, multiple clients were targeted by fraud rings attempting (and nearly succeeding) to have money fradulently wire transferred. Unfortunately, the use of tools like LinkedIn and public company...
Read more »Employer optimism continues to grow and so does the battle for top talent. We are seeing business and employment growth in the market at a stronger level than we have in several years. This...
Read more »The U.S. Department of Labor (DOL) has released a final rule, effective December 1, 2016, updating the regulations governing which executive, administrative, and professional employees ("white...
Read more »As a former investment banker for 20 years who now provides pre-transaction advisory services to private business owners, I use plain language to help my clients understand the complex, often...
Read more »G2 Crowd, an independent software research and rating organization, recently issued its 2016 report on commonly used accounting software. The results, which are based on input from real world users,...
Read more »This is the first in a series of articles over the next few months discussing key business metrics relevant to the Software as a Service (SaaS) industry. Each article in the series will briefly...
Read more »Companies of all sizes are constantly looking for ways to enhance benefit programs, retain valuable employees, and improve productivity. What if I told you there is one strategy that is emerging...
Read more »The proposed changes to the Fair Labor Standards Act are on everyone HR professionals mind. The obvious impact is on wages due to the change in the salary threshold. Many organizations will adjust...
Read more »Private equity funds offer a way to get an infusion of capital (and additional business acumen) for your company for a period of time, while letting current management maintain a leadership role in...
Read more »Stock options are a common compensation strategy used by start-up and growth-stage companies to attract, motivate, and retain employees, particularly when competing for talent against larger, more...
Read more »By Jeff Wraley If forced to make a binary classification of those who struggle with their small business’ strategic planning, I might create these two groups: The Task Rabbits I have...
Read more »By Virginia Kenyon If we were unable to communicate, where would we be? That's just it...we probably wouldn't "be" anywhere. Communication is so important that, in some instances, our lives...
Read more »Early-stage and emerging-growth companies seeking funding beyond the initial seed money from friends, family, and angel investors enter a highly competitive arena where innovative ideas are more...
Read more »Back in 2010, police officers working for the Chicago Police Department's (CPD) Bureau of Organized Crime sued their employer, eventually earning class-action status for the case (Allen v. City of...
Read more »By Anne Gilson There are several leadership lessons we can learn from nature--here is one. As a scuba diver, I have enjoyed the beauty of the oceans, coral reefs, and amazing plant and sea life...
Read more »By Steven A. Rosenthal, Director, Compensation Practice The Fahrenheit Group has finalized the results of its comprehensive 2015-2016 Mid-Atlantic Total Compensation Survey for Small and Middle...
Read more »The Top 10 Things Managers Do That Drive Their Employees Crazy (10 Surefire Ways to Increase Turnover) Our lives are filled with hundreds of decisions we have to make every single day. Sometimes we...
Read more »Employers and other organizations got some good news from the IRS for the start of the new year. The tax agency announced that it's extending the due dates for filing 2015 Affordable Care Act (ACA)...
Read more »There are two ways to look at employee handbooks: As a detailed document whose primary function is to set clear boundaries around employee behavior to provide legal support for any adverse action...
Read more »As we launch into 2016, companies find themselves in need of deeper and more specialized skill sets to overcome the challenges of the day and build greater value. At the same time, organizations are...
Read more »Merger and acquisition (M&A) transactions can be daunting endeavors for both buyers and sellers. That's why putting a financial expert proficient in valuation methods on your side, whichever side...
Read more »One of the most costly - yet easily prevented - disasters for any business is the failure to secure ownership of intellectual property (IP). Here are the details you need to know. Under the...
Read more »If rising health care costs have sent your company searching for ways to reduce expenses, you should know there are alternatives to standard medical insurance plans. Your choices are not limited to...
Read more »Is the concept of a 40-hour workweek too radical for your company? In one survey — the 2015 Workplace Flexibility Study — 65% of participants said they believe their employers expect them to stay...
Read more »The number of mergers and acquisitions has continued to be strong in recent years, and private equity has remained as one of the driving forces. With private equity capital looking for investments...
Read more »As I launch the Carolinas practice for The Fahrenheit Group, I have received many congratulatory emails, which have included a common question, “why did you join The Fahrenheit Group?” So, I...
Read more »In today’s business climate, remaining competitive is more difficult for small and middle market businesses, particularly when they do not have the full suite of executive brain power at their...
Read more »Employee complaints that allege mistreatment at work have to be taken seriously. Even if you doubt the legitimacy of a complaint, you'll put your company in peril if you fail to delve...
Read more »Many companies today are creating bonus and incentive compensation plans to reward hard-working employees for jobs well done. Such plans can be a win-win: Employees receive a tangible...
Read more »THE FAHRENHEIT GROUP LAUNCHES DATA COLLECTION FOR 2015 – 2016 COMPENSATION SURVEY OF SMALL AND MIDDLE MARKET MID-ATLANTIC COMPANIES Richmond, VA – October 6, 2015 – The Fahrenheit Group is...
Read more »Traditional annual employee reviews can be enormously time-consuming. They generally involve stacks of evaluation forms, a myriad of performance criteria and various numeric ranking...
Read more »By Richard Cross, Managing Director MBA You recycle your trash, buy only CFL or LED light bulbs, take your re-usable tote bags to the grocery, and maybe even drive a hybrid car, but are you still...
Read more »Posted Tuesday, September 15, 2015 - Virginia Council of CEO's Do a little background research on Rich Reinecke and you quickly turn up words and phrases like “entrepreneur,” “executive...
Read more »At a time when many employers are keeping employee headcounts down, the importance of productivity has never been greater. Streamlining is good, but it can be a grave mistake to assume productivity...
Read more »As we go deeper into the second half of 2015 an article from 2011 has started recirculating in accounting and finance circles. Why? I am not sure. But, maybe the realization that we are no too...
Read more »Scott Ukrop An entrepreneur’s most significant financial payoff for all the late nights, weekends and tremendous amounts of hard work often comes in the form of an exit event. Even if the...
Read more »It's one thing to get good candidates to agree to a job interview. But how do you use that opportunity to get those people excited about working for your company? As the person doing the hiring, you...
Read more »Selling a business is a goal for many owners — either as part of a succession or estate plan. If the time for selling is getting close, you want to come up with a price that you and a buyer can...
Read more »Non-competes are based on fear -- fear that an employee might run off to a competitor and take along some highly specialized knowledge. And while that concern is legitimate, non-compete agreements...
Read more »How do you make 2016 look just like or worse than 2015? You slap together a “budget” in an hour or two and declare it complete and don’t look at it again until Q2 ’16. A budget is only...
Read more »A recent ConstructionExecutive.com article (read full article here) mentions how accounting methods in the construction industry affect cash flow and financial reporting. The decision to account for...
Read more »As we wind down our summer vacation schedules (and for those of us with children not a minute too soon!) it’s time to look ahead into Fall and down the road to 4th quarter. A little time spent...
Read more »Reshoring remains a hot trend among U.S. businesses. In June, the Reshoring Initiative reported that the United States outpaced Canada and Mexico between 2010 and 2014 in bringing back the most jobs...
Read more »Though the title of this article may cause some concern, the numbers for unemployment in the key areas of Virginia are holding steady. Seasonal dips in the rate are not a surprise in the summer...
Read more »Beware of the tricky "related party" tax rules if you are considering buying or selling business assets or an ownership interest (corporate stock or a partnership or LLC interest).The Internal...
Read more »Enrollment in high-deductible health plans (HDHPs) could gain traction soon, as employers begin to focus on a very attractive feature: These plans have a demonstrated ability to control costs. Also,...
Read more »If you operate a business that collects payroll taxes from employees, here's a warning: Regardless of what your corporate financial situation is, don't borrow from the withholding tax fund. If that...
Read more »As we navigate our lives we face a steady stream of choices that will most certainly impact our long-term financial health. Should I buy that awesome new car or save the dough on a used one? Should I...
Read more »In his 2015 State of the Union Address last January, President Obama said employees should get the overtime they've earned. He then directed the U.S. Department of Labor (DOL) to review and amend the...
Read more »The national unemployment rate recently fell to 5.5%, according to a Bureau of Labor Statistics (BLS) report for May. That's a two-point decline since May of 2013. A closer look at the current...
Read more »By Russ Gambrel, Senior Consultant At the risk of dating myself, I witnessed the installation of my local bank’s first cash machine when I was kid. It looked like a robot. Boatman’s Bank...
Read more »Darden professor Ed Hess strikes a contrarian view in this article, for both employers and jobseekers in this “knowledge intensive” hiring environment. “Humility” sounds almost like weakness,...
Read more »The saying goes, there are only two kinds of companies — those that have been hacked and know it, and those that have been hacked, but don't know it. Perhaps that's an exaggeration, but the truth...
Read more »Peter Buchanan: The Enormous Benefits of Leveraging a World-Class Fractional CFO Before I joined Fahrenheit’s advisory practice, I worked as the CEO of an offshore software development company....
Read more »The use of HR analytics is a growing trend in talent management because it has clearly demonstrated its value and removed some degree of mystery in what can be done to enhance employee...
Read more »HR Summit: ACA Update and Hiring Trends P6055/6056 reporting requirements were recently finalized...are you ready? How do you track variable hour employees? When must you file? What information...
Read more »Intellectual property ownership issues can become complicated when your employees develop software and written materials for your company. Without the proper legal safeguards, you might be surprised...
Read more »Rich Reinecke, Founding Partner What if I told you the Holy Grail, happiness, was at your fingertips? Would you invest two minutes a day if you could find happiness? For years, most of us have...
Read more »By Anika Imajo, Grid “The business of business,” as Scott Ukrop describes it, can weigh down even the most buoyant of entrepreneurial spirits over the long haul. That’s where the Fahrenheit...
Read more »The economy is heating up and so is the battle for talent! Our team at The Fahrenheit Group has been watching the gradual recovery from the recent Recession very closely. Our observations are...
Read more »By Peter Buchanan, Managing Director Frequently, the key ingredient that companies need to take many steps forward is funding from credible capital sources, such as Venture Capital funds and...
Read more »Fahrenheit is proud to be a key sponsor for this years Virginia Venture Summit and we are excited to see such a robust agenda. The Virginia Venture Summit, Venture Forum RVA's signature event,...
Read more »Non-equity crowdfunding has filled an important void for entrepreneurs, initially providing scarce seed capital, and more recently evolving into a valuable market validation tool for start-ups. But...
Read more »During a merger or acquisition, the issues surrounding employee benefit plans may not get a great deal of attention. But afterwards, the complexities of merging a variety of benefit arrangements can...
Read more »Employee duties and how well they are performed are directly linked to your company's profits. But staff members aren't always clear on how their jobs translate into a healthy bottom line. It's...
Read more »By Peter Buchanan, Managing Director When the iPhone debuted in 2007, it was immediately hailed as a magical device. The day after it hit the market, every smartphone that came before it seemed...
Read more »Salaries are a tough expense for most businesses. You want to hold them down but reining them in too tightly doesn't always work well. Good employees can find work elsewhere and replacing them can...
Read more »Is everything possible being done to protect your company from the costly impacts of workers' compensation claims? As an employer, you know that injuries will happen. However, this doesn't mean...
Read more »It's not unusual for companies involved in an impending merger to agree that a substantial termination fee must be paid to one party if the deal doesn't go forward because the other party calls it...
Read more »Almost all employers who responded to a recent poll by WorldatWork* say they have a compensation philosophy. And about two-thirds of those employers say they have committed it to writing. Trouble is,...
Read more »Someone once said that luck is nothing more than preparation meeting opportunity. When it comes to selling your business, It stands to reason, then, that opportunity meeting neglect,...
Read more »Think brainstorming wastes time? Some people question the value of brainstorming, claiming that face-to-face brainstorming is inefficient compared to coming up with ideas all alone, casting doubt on...
Read more »This proposed new tax at death on certain appreciated assets, proposed by the Obama administration, would have major effect on family wealth transfers. Most estates with up to $11 million in assets...
Read more »Are you interested in expanding your existing business operations into new locations? How about starting up entirely new ventures or acquiring existing businesses? An excellent vehicle for these type...
Read more »It's a fair question to ask ... why should employers provide paid sick leave? As noted by President Obama in his recent State of the Union Address, not every employer does. According to the Bureau of...
Read more »You need to pay a fair wage in order to keep valued employees. How can your business go about doing that? Start by ranking job positions, assigning values to each position in your workplace. Here are...
Read more »Jay Carpenter, Sales Talent Acquisition FahrenheitHR There’s a reason parents advise their children to use the bathroom before going on a road trip. Even if the need isn’t immediate, it...
Read more »Peter Buchanan, Managing Director In most growing companies, the Board of Directors approves the strategy and monitors the strategy and operations over time through periodic board meetings,...
Read more »Firms are going to face a dilemma in 2015, which occurs once every 11 years. There will be 27 pay dates, instead of 26, and this could result in the over payment of salaried employees exempt under...
Read more »Melina Davis-Martin has been named executive vice president of the Medical Society of Virginia, a statewide organization representing the interests of physicians. Melina Davis-Martin She...
Read more »I came across this great article from my good friend Nancy Eberhardt and thought I would take a moment to share it. In her article, Nancy poses a question...and it happens to also be in the title...
Read more »By Peter Buchanan, Managing Director Let’s say that, as the CEO, you believe your company is worth a $100 million, pre-money valuation. This number fits in your long term financial plan for...
Read more »Some good news did actually come out of the 2014 Virginia legislative session. The benefits available from the VA Research and Development Tax Credit have been expanded and extended to 2018. For...
Read more »The Fahrenheit Group presented the Fahrenheit Experience Day to the Lighthouse Lab participants in late October hosted at the VCU School of Business. Fourteen members of Fahrenheit’s Advisory,...
Read more »With the rich getting richer, many more entrepreneurs are turning to affluent individuals, known as “angels,” for capital to expand their nascent businesses. Angels put $24.8 billion of their...
Read more »Robins School of Business – Virginia Council of CEOs survey shows highest level of optimism in four years. Each quarter the Virginia Council of CEOs (VACEOs) and University of Richmond’s...
Read more »Three Virginia companies have been named to a list of the 100 fastest-growing inner-city businesses in the country. Team Henry Enterprises in Newport News ranked No. 12, River City Comprehensive...
Read more »The Seven Deadly Sins of Entrepreneurs (And How to Fix Them) By Peter S Buchanan, Managing Partner Fahrenheit Advisors It’s an age-old and true maxim that great entrepreneurs usually...
Read more »From Trade Shows to Christmas Lights to Earthworms: Startup Weekend Fredericksburg Had It Covered Recently, Germanna Community College hosted Fredericksburg’s third Startup Weekend in 18 months....
Read more »Congress continues to kick the can on many issues, but in this case there’s at least promise of action yet to come. The Tax Extenders bill has some hugely important provisions affecting business...
Read more »There has been a significant shift in how work gets done. For many organizations the changing market landscapes and uncertain economies have outpaced the skill of internal leadership. Companies find...
Read more »Seeking greater customer satisfaction, the Kodak Company created a workplace culture that resulted in greater employee involvement. So how did this work? They started building a performance-based...
Read more »Don't be afraid to make some major changes in the way your organization operates in order to increase production and motivate workers. If your business or organization is struggling -- or if you...
Read more »When companies merge in the 21st Century, it is often to add value through intellectual capital rather than adding additional office space or factories. This is due to the fact that, increasingly,...
Read more »We are excited to welcome our new Liqui-Box to Richmond! Founded in 1961, Liqui-Box makes bag-in-box and pouch packaging used for soda, bulk food, coffee products, wine, paint and motor oils. The...
Read more »For years, HR has struggled with how to be both strategic business partners and flawless technicians. Our emphasis tends to be on how to be more strategic, but the fact is, flawless execution of...
Read more »Sometime this year, a U.S. District Court in Detroit will dive back into the weeds to decide whether a particular job at Ford Motor Corporation could be done adequately by an employee working four...
Read more »We’ve had the pleasure of getting to know Ted Zoller, Director of the Center for Entrepreneurial Studies and Associate Professor of Strategy and Entrepreneurship at UNC Chapel Hill. Ted is a 1987...
Read more »The Fahrenheit Group is excited for our client, Richmond-based Evatran, who announced Monday that the Cadillac ELR will become the latest car to be compatible with the company's wireless recharging...
Read more »In the global, new media economy, intellectual property due diligence has taken on increased importance in M&A negotiations. And one of the most important categories of intellectual property due...
Read more »Employee Stock Ownership Plans (ESOPs) were created as a way for employers to turn employees into mini-partners in the business. Some small business owners look to ESOPs to be financing mechanisms...
Read more »One of the most costly mistakes an employer can make is to put the wrong person in a job. A single wrong hire can cost an employer the equivalent of the employee's salary for a year. Sometimes even...
Read more »A Microscopic Step for (Business-) Mankind: FASB’s new revenue standard In 1912, Shizo Kanakuri, a runner from Japan vanished during the Olympic marathon. There is some debate over his...
Read more »Venture Forum RVA the catalyst for Richmond’s visionaries– is proud to announce its marquee event, RVA Companies to Watch, presented by Venture Forum RVA & Elliott Davis. Save the date for...
Read more »On June 30, 2014, AmpliPhi Biosciences Corporation appointed Dave Bosher, Managing Director of Fahrenheit Advisors, to serve as the Company's interim Chief Financial Officer. We are excited to have...
Read more »Termination is always painful, whether it's for cause or part of a business slump. Employees who are fired or laid off often have negative feelings about the company and some could act out their...
Read more »Suppose you've been doing business with a company that owes you money or has been late in paying for services you have provided. You might have even filed a lawsuit to obtain the payments. But then...
Read more »If your company has decided the best way to grow is to expand your ownership boundaries, you are probably considering either a merger or an acquisition. Mergers and acquisitions offer opportunities...
Read more »In the late 1990s I worked as a Budget Director for the DOD in Rota, Spain. As one of only two civilians in a facility of fifty sailors and officers, I got a first-hand look at all the things the...
Read more »Julie Stepp recently read an article on operational meltdowns in midsized companies, and had some thoughts of her own. Many small companies growing to the midsize level run into these issues as...
Read more »Often times success and leadership comes not from providing the right answer, but from asking the right question. The attached article offers 100 questions that are sure to spark vigorous debate...
Read more »Two great thoughts on the importance of networking. Russ Gambrel had a lightbulb moment (it goes hand-in-hand with NEVER EAT ALONE). A recent article from the Huffington Post conceptualizes the...
Read more »What do King Solomon, David Lee Roth, Zappos and Nigerian scammers have in common? A recent edition of the Wall Street Journal included an essay adapted from the book “Think Like a Freak” by...
Read more »Buying the assets or stock of another corporation is one way to quickly expand your business. But there are several issues to consider before making a final decision. With taxable direct purchases,...
Read more »Hire for Attitude, Train for Skill Sarah Bradshaw, Talent Acquisition Manager May 2014 Before assessing a candidate's fit with your culture, it is important that you understand and are...
Read more »Discussing employee performance and compensation reviews can be tough. I recently read a great article that focuses on having difficult compensation conversations with employees, ...
Read more »Slow-paying customers can cripple a small business and throw a wrench into even a well-thought-out cash flow management plan. This problem is so widespread that now there is even an initiative...
Read more »Private Equity Investing In Niche Manufacturing Companies As the “Made-in-America” Trend Picks Up Speed, Operations Holds the Key to New Opportunities Join conference chairman...
Read more »Lou Marmo, Managing Director March 2014 One of the best ways to ensure that your strategic plan does not end up collecting dust on a bookshelf and instead becomes the foundation of growth in...
Read more »Once a potential buyer has scrutinized the quality of a target company's assets, it's time to review other key factors of the business. Recently we outlined some of the key factors in Part 1 which...
Read more »Growth Company Financing Strategies February 2014 Dave Bosher, Managing Director - Fahrenheit Advisors High-growth companies, especially ones that rely on high-cost venture or private...
Read more »Today's global marketplace has made transfer pricing one of the most important concerns for companies with foreign operations. Not only do these businesses have to comply with complex...
Read more »When conducting a due diligence investigation, it pays to take a very organized approach. That way, you'll stay focused on the most important issues and avoid becoming distracted by...
Read more »Welcome Little GAAP Michele Bannon, Senior Consultant February 2014 For decades, small business owners and other proponents have argued for relief from the costly and complex standards issued...
Read more »Your employees want and deserve a fair wage. But money is not the only motivating factor for them. In fact, more and more studies show that money is not the most important factor for the majority...
Read more »Just because a merger or acquisition is completed on paper doesn't mean the transactions will be a success. The implications can generally be seen 18 to 24 months after the deals close and officials...
Read more »Fahrenheit held the Leadership Forum on January 14th along with our partnering sponsor Keiter. This leadership forum entitled “Building Business Value - Lessons from the Trenches” was...
Read more »Have you ever hired the wrong person? Maybe the bad decision didn't rise to the level of hiring an embezzler or someone with a violent temper. But regret comes in many forms. You may have hired...
Read more »BUSINESS LESSONS AT 20 BELOW Russ Gambrel, Senior Consultant - January 2014 I was recently posed the question about whether I would trade the wisdom one accrues over hard-fought decades for...
Read more »Nearly every employee will commit a blunder at some point, some serious, others less so. And more than a few will blunder on a regular basis. Knowing when and how to confront disappointing behavior...
Read more »It has been another year of growth at Fahrenheit and we want to take a moment to thank our clients, employees, family and friends for all of their support in 2013. From all of us...
Read more »SO YOUR BEST EMPLOYEE WANTS TO LEAVE? LET.THEM.GO! Russ Gambrel, Senior Consultant - December 2013 If you are reading this right now, there is a better chance than not that you hate your...
Read more »Great minds have spent countless hours contemplating how best to establish the right value proposition to wrap around managing HR. A recent article Why We No Longer Need HR Departments,...
Read more »When Talking ERP Needs, Does Business Size Matter? Julie Stepp, CPA Senior Consultant - Fahrenheit Finance November 2013 Since When Does Size Not Matter? Take it from me,...
Read more »It's widely believed among experts that as much as one-third of spending on medical services is wasted and worthless. Last year, the American Board of Internal Medicine Foundation and Consumer...
Read more »In the good old days, business owners believed that as long as they served their customers effectively and made sure that their stock maintained or increased its value, all was taken care of....
Read more »What happens if you're the owner of a limited liability company (LLC) that generates tax losses, and you don't spend a lot of time in the activities of the business? The losses might be...
Read more »During a merger or acquisition, the issues surrounding employee benefit plans may not get a great deal of attention. But afterwards, the complexities of merging a variety of benefit arrangements...
Read more »A new survey looks at how employers are setting their salary budgets for 2014. Based on survey results, it appears that most employers expect to hand out raises similar to those given in 2013. But...
Read more »Earnout sales are becoming more common, especially in high-growth companies, those with unproven products, and situations when the buyer and seller disagree on valuation issues. By some estimates,...
Read more »Nobody likes getting slapped with a penalty by the IRS for any reason, let alone for missing the mark on a retirement plan intended to be a benefit. Ideally, your third party administrator will...
Read more »Don't Sweat the Small Stuff Russ Gambrel, Sr Consultant Fahrenheit - October 2013 I recently attended the Global Leadership Summit and walked away after two days full-to-brimming with...
Read more »The IRS recently issued proposed regulations fine-tuning the rules governing the healthcare tax credit available to certain small employers, beginning in 2014. The Affordable Care Act contains a...
Read more »How does Company Culture Impact Performance? Rachel Antrobus, Fahrenheit Finance Senior Consultant September 4, 2013 Company culture can be hard to change. But startup companies possess a...
Read more »Employee turnover is expensive -- very expensive. As the economy continues to build strength, albeit slowly, employee turnover will become a larger problem for many employers. But traditional...
Read more »Outgrowing QuickBooks? Are you sure you’re ready for the transition? Doug Jones, Fahrenheit Finance August 2013 Intuit’s QuickBooks is the accounting package most commonly used...
Read more »Taking a more proactive approach regarding requests for time off under the Family Medical Leave Act, and understanding the correlation between this type of leave and future disability claims, can...
Read more »Lesson #3: When Evidence Collides with Ideology - July 30, 2013 Dave Garlock, Fahrenheit Finance Are you comfortable considering non-conforming ideas and concepts? How do you respond to...
Read more »The traditional suggestion program (often just a suggestion box) usually lumbers along. Then, it sputters out. You know there has to be tremendous untapped knowledge and ability within your...
Read more »You are probably paying your employees a lot more than they realize. There is an easy and inexpensive way to remedy this gap in knowledge. This may be particularly important at a time when the...
Read more »Here's a bright idea for buyers of S corporations. There's a favorable way to buy the stock and have the transaction treated as a direct asset purchase for federal tax purposes. If a C or...
Read more »Complacency and a Closed Mind Will Choke the Golden Goose Lesson #2: Learned from the Rise and Fall of Vanquished Companies - July 2013 Dave Garlock, Fahrenheit Finance This article is the...
Read more »Some employers face a July 31 deadline to pay a new fee required under the Affordable Care Act. The fee must be paid by employers who sponsor self-insured health plans, including health...
Read more »ALL HAIL THE SPREADSHEET!! Russ Gambrel, Senior Consultant Fahrenheit Finance - July 2013 If you are an accounting professional over the age of forty, take a moment this week to ponder the sad...
Read more »Lesson #1 Learned from the Rise and Fall of Vanquished Companies, July 3, 2013 David Garlock, Director Fahrenheit Finance Both virtual and physical bookshelves everywhere are filled with...
Read more »What is confidence? And, do you express the qualities of a true leader? First things first: Confidence is not bravado, or swagger, or an overt pretense of bravery. Confidence is not some bold or...
Read more »Are you a CEO? There is a difference between a founder and a CEO. A founder has a vision and a passion, can inspire customers, employees and investors to believe in an idea's potential. A...
Read more »Eight Richmond-based startup companies have taken refuge since March from the hurdles that threaten young companies by collaborating with Lighthouse Labs, a new-business accelerator. Todd Nuckols,...
Read more »Professional Goodwill: Don't Over look the Tax Impact When a corporation sells its assets or liquidates, one important tax...
Read more »Increase Your Chances of Success Businesses sometimes fail simply because of poor cash management. You need cash flow statements...
Read more »It’s not easy to find angel investors outside the big market areas but it can be done. @MartiBeller of PlanG (@My_PlanG), proves that you can. Beller is based in Richmond, Va, not known as...
Read more »Messages Business Leaders Shared With This Years Crop of Grad's Creative thinkers from the business world offered real-life...
Read more »Evatran CEO named as one of Inc Magazine's Top 30 Entrepreneurs under 30 Rebecca Hough selected based on Evatran's high-profile partnerships, funding diversity, and potential technology impact We...
Read more »Russ Gambrel, CPA May 2013 I've been the world's biggest Mad Men fan since the first episode aired in the summer of...
Read more »It turns out there is a scientific reason why employees are less effective when tasks are dictated. Describe the outcome you are trying to achieve, be clear on the requirements, and preserve the...
Read more »Don't climb alone! Reach the Summit with the Venture Forum's 2013 Virginia Venture Summit on Wednesday, May 8, 2013! The 2013 Virginia Venture Summit will feature insight and guidance from...
Read more »Join Us at the 2013 Virginia Venture Summit! REGISTER NOW 8:00 am to 3:00 pm, Wednesday, May 8, 2013 at the Virginia Historical Society The 2013 Virginia Venture Summit, presented by...
Read more »Wednesday, May 8, 2013 Virginia Historical Society RVA 8:00 a.m. - 3:00 p.m. Don't Miss the 2013 Virginia Venture...
Read more »Equity Recap: An Optional Capital Infusion Equity recapitalization is a potential way to raise capital and retain some control over your business while...
Read more »Even in a slow economy employers need to consider the touchy issue of raises -- and possibly bonuses -- to keep their best talent onboard. Having a compensation strategy is...
Read more »The deadline for the first estimated tax payment for 2013 is coming up on April 15. If you don't pay enough tax through withholding or estimated payments or if you fail to pay the required...
Read more »What are the secrets of the uber-productive? Some people get more done than others--a lot more. Work hard, work smart...of course. But these achievers have qualities that make a...
Read more »When it comes to structuring a successful M&A transaction, existing trademarks play an important role for both parties involved. Valuing trademarks and creating a strategic vision for them can...
Read more »The profit mentality at your company can make or break the business. Take the time to identify your profit centers and eliminate marginal products or services. It can be a hard choice to make, but...
Read more »The Importance of the Right Fit March 5, 2013 By Russ Gambrel, CPA, Senior Consultant Fahrenheit Finance Since “doing my time” in public accounting during the mid-1990s, there...
Read more »Do you assume that employees want more pay and higher salaries before any other benefit or reward. Some studies and reports indicate that's true. But other studies reveal that what employees...
Read more »Employers subject to the Affordable Care Act's "pay-or-play" provisions that take effect in 2014 will soon be running short on time to decide which path to choose. The choice involves human...
Read more »In the global, new media economy, intellectual property due diligence has taken on increased importance in M&A negotiations. And one of the most important categories of intellectual property...
Read more »All too often, the process of establishing goals for employees in the context of a performance evaluation slides into an uninspired exercise of just going through the motions, only to provide an...
Read more »Avoiding Accounting Pitfalls in Growth Businesses By Rachel Antrobus, CPA Fahrenheit Finance, LLC - February 20, 2013 What are the most common pitfalls for start-up businesses when it comes...
Read more »Interviewing job applicants can waste a lot of time. And applicant interviews often result in hiring the wrong person. You can increase the value of interviews, and improve the chance of hiring the...
Read more »The numbers are in, and accountants should be smiling. The unemployment rate for accountants stands at just 4.1 percent. And Forbes.com recently listed accountants and auditors at No. 2 on its list...
Read more »John Gagliardi has a ton of lessons you can learn about leading and coaching people in your workplace. But it surprises him that anyone in the business world would be interested in what he has...
Read more »The EEOC laid out its enforcement game plan in a detailed announcement last month. "What leaps off the page," says Fisher & Philips partner Randy Coffey, "is that the EEOC is going to be...
Read more »The IRS has announced that it is turning up the heat on small business operations. This isn't surprising in light of recent IRS analysis indicating that underreporting by small businesses is...
Read more »When a professional corporation sells its assets or liquidates, one important tax issue is whether the corporation or the shareholder-employees own any appreciated professional goodwill (with a...
Read more »Mergers and acquisitions offer opportunities for growth that can provide many benefits to your existing business. But they also present many chances for taking a wrong turn. Click "Read More" for a...
Read more »Looking for a concise listing of the tax changes for 2013 as compared to 2012? Some of the dollar amounts change due to inflation. Other amounts are changing due to legislation. Click...
Read more »Employees will walk over hot coals, figuratively speaking, for a boss they admire and respect. Such leaders can be hard to find, however. If you aren't already over-supplied with them, you can...
Read more »Ever notice how successful leaders just seem to identify important things and consistently get them done? As we kick off a new year and write our own list of resolutions (both personal and...
Read more »A recent panel featured three CFO's, including Brian Monboquette, a director at Fahrenheit Finance, discussing the role they serve in start-ups. CFOs do more than keep the books balanced. They...
Read more »Your business has been riding the waves of the economic storms over the last three to four years without being swamp by the rogue waves of the loss of major customers, threat of new product...
Read more »Successfully leading a team or company through a severe and sudden crisis is not something that only so-called "born leaders" can do. More typically, it is accomplished by people willing to undergo...
Read more »November 8, 2012 Adam Foldenauer Sorry, but the angel of cash will not just descend from the clouds with a check. You'll have to work at it. By Adam...
Read more »When it comes to due diligence procedures, much attention is focused on those who want to buy a business. But sellers must also conduct due diligence investigations and it's important to take...
Read more »Robert Goodell is an executive coach who helps companies and individuals make the most of their human potential. During his more than 25 years in the field, he has found that about 20...
Read more »November 8 Work It, Richmond Event - How successful entrepreneurs find and manage their startup capital Startups of all sizes are faced with a difficult question: How do you raise money from...
Read more »Today's tighter credit market has lenders requiring more frequent and complex financial statements. Banks are particularly focused on industry sectors that have borne the brunt of the recent...
Read more »Shockoe Denim, a custom jeans company at 13A South 15th Street, is set to open Thursday making Shockoe Slip little more fashionable. Check out the article from Richmond Bizsense and learn how...
Read more »Are you paying a competitive wage? According to the latest Towers Watson Global Talent Management and Rewards Survey, 61 percent of American companies surveyed reported they're having...
Read more »Under the tax code, being a "related party" in business can be unfavorable in certain purchase-sale transactions. The problem is that the rules are not very well known, quite complicated, and...
Read more »Are there issues your employees talk about in the break room or the parking lot -- that they wouldn't think of bringing up when you're present? What causes certain topics...
Read more »An article recently caught my attention and I thought I would share it. Depending on your competitive environment, moving to activity-based or even value-based billing can be a breakthrough...
Read more »Once a potential buyer has scrutinized the quality of a target company's assets, it's time to review other key factors of the business. The process of due diligence can be extremely complex...
Read more »"Red teams" are often used in the military and in government agencies to expose areas of weakness and to improve effectiveness. They are also utilized in private businesses to help protect...
Read more »When it comes to social media, employers face a variety of land mines. To protect themselves, they are advised to have a policy covering social media but the factors involved are not as simple as...
Read more »In the local market there are a lot of positive signs…more traffic, shorter time on the market for resales, and increased new construction activity. That is all good news, but there...
Read more »A new CGMA report shows that 43% of chief executives, CFOs and human resources directors believe poor human capital management has kept their companies from reaching key financial targets in the...
Read more »The median projected salary raise for 2013 is 3 percent -- the same old figure we've seen since 2009. But that doesn't mean employers should robotically crank that number into...
Read more »Congress must reach an agreement on expiring tax provisions as soon as possible because small businesses are being impeded from long-term tax and cash flow planning and prevented from making...
Read more »Ivy Exec’s Vice President of Executive Search, Jason Sanders, recently interviewed Rich Reinecke, Partner at Fahrenheit Finance for their Company Spotlight segment on our firm. Take a...
Read more »The recent economic malaise has adversely affected many companies that are experiencing cash flow issues. Some of these issues can be corrected with improved collections, new product innovations,...
Read more »It doesn't matter where you are in the life span of your business. If you plan to sell someday or merge with another business -- even years from now -- you need to begin getting ready for the...
Read more »A donative promise or set of spousal access trusts can lock in 2012 gift tax exemption. Congress has given taxpayers a historic opportunity in 2012 to make up to $5.12 million of lifetime gifts...
Read more »Brian Monbouquette August 7, 2012 Jacob Geiger Share on linkedinShare on facebookShare on twitterShare on tumblrShare on emailMore Sharing Services Tell us the basics:...
Read more »If you are a small business owner and entrepreneur, you share our concern for healthcare and the difficulty in offering choices for your employees that are competitve in the marketplace. The...
Read more »The IRS has just issued new regulations on the portability election for an unused estate exclusion, which could be important for anyone whose spouse died in 2011 or 2012, and their beneficiaries....
Read more »The Shark Tank is over the top like Mark Cuban himself, but entrepreneurs can learn some valid lessons from watching the show. Among the Seven Lessons outlined in a recent Fast Company...
Read more »The Venture Forum, central Virginia’s intersection of business innovation and capital, is hosting the Virginia Entrepreneur Summit on Tuesday, April 24. This event will inspire...
Read more »Decision Maker for April 2: Frederick Kraegel, Senior Director By: Times-Dispatch Staff | Times-Dispatch Published: April 02, 2012 New position: senior director,...
Read more »The deadline is April 1 for filing a 2011 claim for the new VA R&D credit. All those hoping to share in the $5M available from the state in current cash payments must file required...
Read more »Six Ideas for Managing Organizational Dynamics to Support Customers Dave Garlock Managing commercial, government, or not-for-profit Customers is one of the most challenging and daunting tasks...
Read more »Crowdfunding…help for small business financing? Doug Jones I will admit it…until recently I had not focused on the progress of the proposed “crowdfunding” legislation in...
Read more »As the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) propose changes to the accounting for lease transactions, the Equipment Leasing &...
Read more »“Investor-ready” Financial Models - Doug Jones, Director Fahrenheit Finance Recently I read an excellent article by Mike Periu about getting your financial model...
Read more »Without passing judgment on the principals in this story, a recent article that caught my attention in RichmondBizSense is a good reminder about the continuing controversies...
Read more »Budgeting: Part II Doug Jones, Director Fahrenheit Finance This seems to be the season for articles that throw budgeting and financial planning under the bus in favor of better strategic...
Read more »As the leader of a business, getting away from day-to-day chores allows you to spend more time on the company's long-term growth plan. We thought this article had great points on how...
Read more »As the fiduciary of your qualified retirement plan, you should be aware of important regulatory changes that are scheduled to take effect in 2012. The new requirements are a result of the...
Read more »We have limped into the 4th quarter of the year, the traditional time for starting the planning and budgeting process for the next year. I wish I didn’t feel the need to write this...
Read more »The September 7, 2011 edition of Inc. includes an article with the tantalizing title “The Math Behind Your Company Valuation.” The first sentence draws the reader in even more by...
Read more »We recently found an article highlighting seven tips for small business success in the current market. The author, Tom Harnish of Aerodite Inc., did such a great job covering the major points, we...
Read more »For small businesses, lenders can tell from a glance at your loan application if it is worth considering. All they want to know is the answer to these three simple questions: Can you...
Read more »Since we launched Fahrenheit Finance, we have worked with some great clients. And, we have learned what makes some clients great to work with. Recently, we were engaged by one of those...
Read more »Let’s face it, getting financing is not easy these days, especially for small and mid-sized businesses. Banks are extra cautious and many business are too small (or not in a sexy enough...
Read more »With the recent economic changes, it is harder for businesses to obtain loans to grow their business. Here are steps you can take now to establish good business credit, so loans are accessible when...
Read more »You’ve made the decision to implement a Purchasing Card Program at your business and just completed the last phase of pilot testing in small-scale production mode. Now what? One of the...
Read more »A recent article from CNN Money and Fortune touted some of the top attributes of an effective CFO, and referred to a great CFO as the “best secret weapon” of the CEO. The article called...
Read more »Times have been tough…your employees have gone several years without raises. You are concerned that some of your key people may start looking around as job prospects improve. Even if...
Read more »On May 23, 2011, the governing bodies of the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), headquartered in London, agreed...
Read more »Several local businesspeople shared their experience of leaving bigger companies to start ventures. Most of them also spoke last month at a Richmond Venture Forum discussion on the challenges of...
Read more »“Cloud computing” is a broad term used to describe technology resources that are located on a vendor’s property and purchased on an on-demand basis accessed via the internet. The...
Read more »Today CFO’s and CEO’s are expected to maintain a watchful eye on their cash flows; every dime spent and every dollar earned. But companies need a disciplined approach to record keeping...
Read more »Mergers, acquisitions and growth all come with some transitional problems, and financial reporting is an important aspect. It can be tough to acknowledge when a project is outside of the area of...
Read more »I spend a lot of my time working with entrepreneurs and bankers. These two groups don’t always have the easiest time communicating, so I sometimes find myself in the position of...
Read more »Access to timely, accurate information is essential to making informed decisions and running an efficient business. Establishing a universal method for measuring success is key – here are a...
Read more »As the last of college graduations begin to come to a close, recent reports from the National Association of Colleges and Employers indicate that recent or soon-to-be graduates should have a...
Read more »Last month I attended the 12th Annual NAPCP Commercial Card and Payment Conference in Las Vegas, Nevada from April 11 – 14th with over 650 attendees, including end-users,...
Read more »We often hear business owners say that their gross profit (or gross margin, to some) is a certain percentage of sales; say 40%. And sure enough, when we use their price list and their item cost...
Read more »You want to make any transition within your business as efficient and painless as possible, and that applies to software updates and implementing new processes. We asked our implementation expert...
Read more »Back in college, when professors and counselors prepared you for an interview in the “real world,” did their tips include “and be sure you’ve got a solid credit...
Read more »As we continue to slowly yet steadily move out of a depressed economy, more and more companies are once again focusing on growth. CEOs and CFOs alike are focused on rebuilding those...
Read more »As early as June 2011, the newly proposed lease accounting standards distributed back in August of 2010 may be finalized. These new standards proposed by the Financial Account Standards Board...
Read more »While CFO’s and other heads of companies still remain cautious, they have reason to be optimistic moving forward with business in 2011. At the beginning of February, Duke University and CFO...
Read more »Many small business owners are receiving an unpleasant surprise when seeking out loans – banks are charging higher interests rates, despite great credit. Here are a few ways to make sure you...
Read more »Picture it: Company A is a family-owned, entrepreneurial business that is for sale. Private equity or venture capital firm B decides to make the investment. You are the family-owned business...
Read more »You don’t usually associate the word “audit” with any happy thoughts, but it’s all about who is performing the audit. Many small businesses can actually benefit from an...
Read more »Keeping tax details straight is tough, for individuals and for companies. But the most important thing to remember is to be prepared. It’s been reported that after 2012, many provisions are...
Read more »As we usher in 2011 and all the promise the new year brings, Fahrenheit Finance also celebrates a birthday. We’re happy to report a great first year and we appreciate the support from...
Read more »When we first looked at Part I: Benefits of a Purchasing Card Program, we discussed the first steps companies should take in making the decision to implement a PCP into their B2B daily...
Read more »Doing more with less. It’s the motto not only for our personal life these days, but it seems for businesses as well. The economic recession put many companies in the position of having to...
Read more »The recession has given way to a more optimistic outlook in some industries, especially those that play key roles in the recovery process. Finance and technology are two sectors that have seen...
Read more »We know a little more about what criteria will be used to help the SEC decide about the role of International Finance Reporting Standards (IFRS) into the financial reporting system in 2011, thanks...
Read more »The Financial Accounting Standards Board (FASB) is proposing a new “one size fits all” approach to revenue-recognition rules for companies, regardless of industry. This means that...
Read more »Last month’s SEC guidance on liquidity and capital resources disclosures and Management’s Discussions and Analysis of Financial Condition and Results of Operations (MD&A) is meant...
Read more »Whether you’re involved in social media or not, the fact remains that new networking platforms are created almost every day. And with each new development, it’s becoming easier for...
Read more »A strong company is always growing and evolving, so it’s important to ensure that your employees are doing the same. But what’s the best approach to promote development of the top...
Read more »On Tuesday, the blog “Communications Conversations,” aimed at PR, Marketing and Advertising professionals, argued for the importance of adding analytics to your skill set as...
Read more »A recent article on Fast Company’s web site about analyzing the spending of those around you to help determine how much you should spend made us think about assessing spending for...
Read more »It seems that every day, the business professional is introduced and enticed with a system or tool to help them communicate, sell, track and even operate completely differently. But with...
Read more »Have you heard the words “I Quit” lately? The work force is listening more intently as the sound of opportunity has begun knocking softly. As employees are becoming increasingly...
Read more »Among the highest-ranking traits people seek in others when qualifying long-lasting relationships is their ability to listen. When you think about the importance of this characteristic on our...
Read more »As many businesses cautiously begin to hire new employees, a different type of worker is emerging as the top choice for many recruiters. More and more companies are seeking out independent...
Read more »Baseline Requirements – A successful internal investigation program should include the following baseline requirements: Independence – The group or individual(s) assigned...
Read more »Small businesses often begin with a dream and here at Fahrenheit Finance we are dedicated to helping turn those dreams into a reality. There is nothing more fulfilling in our business than to...
Read more »It seems a day doesn’t go by where there isn’t a news article talking about an employee who stole customer data or intellectual property, embezzled funds, or committed some other...
Read more »Employment concerns have risen almost as fast as unemployment rates over the last couple years. When employees feel like they need to keep one eye on their job status and one on their work,...
Read more »If you are unemployed, raise your hand. All fifteen million of you. Now sigh a giant sigh of relief. The U.S. Congress and President Obama have passed a new law to encourage...
Read more »We all know it’s necessary, right? Well, we’re not just talking about building up your billings or sales. What we’re talking about here are a few strategies you can implement to...
Read more »Remember last week when we told you that you had to be paying attention to what was going on in Austin, TX, at SXSW? In particular, we recommended following along online with the session about how...
Read more »As most of us begin to thaw out, there are literally thousands of people converging from all over the world on the eclectic city of Austin, TX. Their goal is to bask in the present, but mostly the...
Read more »Big business appears to be increasing the focus on strategic fiscal management as CFO turnover within the ranks of large companies dropped 28% last year. An article on cfo.com titled Downturn...
Read more »While it’s not going to be a factor yet, the writing is on the wall: many businesses will face big changes to their reporting requirements when the IRS mandates that “uncertain...
Read more »As financial professionals, we know that we don’t exactly have reputations for being wild and crazy. But we were all young(er) once. Even 10 years ago, there weren’t nearly as many...
Read more »In last week's post we told you about the rising trend of hiring temporary CFOs. This week, we’re going to explore the trend from the business side so you can get a sense of whether...
Read more »Unemployment figures can easily be described as eye-popping, and the truth is that no job is guaranteed. While new jobs aren’t exactly jumping into anyone’s boat, there are more...
Read more »According to a recent article on CNNMoney.com, small businesses are having an even harder time borrowing money than they were a year ago just before stimulus funds flooded the coffers of...
Read more »If you haven’t heard, the IRS announced last year that they would be randomly selecting 6,000 businesses to undergo employment tax audits, starting in February 2010. It will be the largest...
Read more »Current webcasts and webcast archives from CFO Magazine are a fantastic resource for the latest financial strategies being used by corporate finance professionals. One in particular...
Read more »Many employers were cutting back on new hires in 2009; in fact, most were eliminating positions in order to survive the financial crisis. 2010 is looking quite a bit brighter! The...
Read more »Gartner reports that “IT investment level are on the rise and growth is more important than cost cutting in 2010.” According to a targeted, web-based survey of 190...
Read more »How could anyone have anticipated the last year and the series of catastrophes, ranging from the housing crash to the liquidity crisis? It comes as no surprise that 96% of...
Read more »In the most sweeping set of changes to the banking regulatory system since the Great Depression, House lawmakers approved a giant legislative bill that would increase the...
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