SMB FinanceOS
Get smarter about business finance in 5 minutes a week. Join 35k+ business owners and leaders learning financial statements and growing their business, for free.
WHY YOUR CPA IS FAILING YOU (AND IT’S NOT THEIR FAULT)
WHY YOUR CPA IS FAILING YOU (AND IT’S NOT THEIR FAULT) I have conversations with business owners all the time about their accounting and finance teams, and more often than not, people are confused about the role of their CPA. They’ll say things like, “My CPA handles my books,” and assume that means every financial need of the business is covered. Others proudly post jobs for controllers, CFOs, or even staff accountants, and list “CPA required” as a qualification, when in reality the license...
WHAT DO A CPA AND CFO ACTUALLY DO?
CPA vs CFO vs Controller: Who Actually Does What? I’ve had the conversation time and again… “My CPA isn’t doing what I need them to do.” When I ask, they’re typically looking for more than a financial filing from a CPA. Tax season comes, a return gets filed, and everyone goes back to their day jobs. Then, I talk to people about being a CFO. “So you are like an accountant but more?” Yes… but no. And that $5 million revenue business with the CFO? You’re likely overpaying someone to code...
THE BELIEF THAT BANKRUPTED KODAK (AND MIGHT BE KILLING YOUR BUSINESS)
The Belief That Bankrupted Kodak (And Might Be Killing Your Business) In 1975, Kodak invented the first digital camera. It wasn’t until around 1990 that digital cameras were really put out to the public and until the late 1990s that they really became a “thing.” And as this story is as old as time, you likely know Kodak didn’t initially release the digital camera… they actually missed the wave. Think about that. The company that had defined photography for a century held the keys to the...
THE SILENT KILLER OF GROWTH: COMPLEXITY
THE SILENT KILLER OF GROWTH: COMPLEXITY Watch on YouTube We didn’t set out to make things complex. We set out to say yes. Yes to new product lines. Yes to customer requests. Yes to ideas from smart team members. And slowly, almost invisibly, yes turned into too much. The creep is quiet. One product becomes three. Three becomes nine. Nine becomes seventeen, each with slightly different specs, pricing models, or service workflows. The goal was to grow, to expand, to capture the opportunity in...
THE 6 FINANCIAL QUESTIONS EVERY BUSINESS LEADER MUST ASK
THE 6 FINANCIAL QUESTIONS EVERY BUSINESS LEADER MUST ASK watch (and subscribe) on YouTube Isaac Newton asked why the apple fell straight down. Einstein imagined riding a beam of light. Edison questioned every assumption until he held light in a glass bulb. Feynman picked apart every idea with a childlike intensity most adults lose. What did they have in common? None of them started with certainty, but instead with curiosity. And if you want better results from your business, especially your...
THE #1 RULE OF BUSINESS: DON'T DIE.
We still have a few of the Strategy & Finance Review's I mentioned a few weeks ago available. In short, over two calls we’ll: → Analyze your financial health→ Map your business model→ Diagram your key drivers & KPIs→ Provide a list of recommendations & digestible report If you want to learn more, reply to this email and I can send more details. THE #1 RULE OF BUSINESS: DON'T DIE. Watch on YouTube Don’t die. This is the singular thing that matters when running a business. The rule all business...
THE FUTURE OF SMB FINANCE: FASTER, SMARTER, YET STILL HUMAN
THE FUTURE OF SMB FINANCE: FASTER, SMARTER, YET STILL HUMAN Watch the YouTube video In 2013, Oxford University released a study predicting there was a 98% chance that bookkeeping and accounting jobs would be automated. For a decade, that prediction mostly collected dust. Accounting changed slowly. Manual data entry stuck around. Finance teams still built reports the same way they always had. But over the last 18 months, the pace of change has snapped forward. AI, automation, and real-time...
THE EMPTINESS OF ARRIVAL (AND MEASURING THE WRONG THINGS)
Before the issue, a few things: First, last week I mentioned the Strategy & Finance Review process we’re doing at Bison CFO. In short, over two calls we’ll: → Analyze your financial health → Map your business model → Diagram your key drivers & KPIs → Provide a list of recommendations & digestible report Since this is a new offering that we’re trying to get reps on, for a limited time we’ll be doing these for $5,000 flat. We’re limiting this to 10 people and we have a few we’ve already talked...
3 MINDSETS THAT SABOTAGE YOUR FINANCES AND SINK A BUSINESS
Over the next few weeks, we’re going to take a “break” from the OS series we’ve been doing and do some one-off writing. It’ll lean on stories, which is what I really enjoy. I’m excited for what’s next (ProfitOS, AccountingOS, TechOS, before getting into M&A), but we need some more time! Now before we dive in, three announcements: We’re starting to post on YouTube. First video is out, so let me know what you think! I'm adding sponsors back to the newsletter! If you know (or are one), feel free...
CASHOS + CAPITALOS: 6 REPEATABLE PROCESSES TO CREATE MATURE BUSINESS
Before we dive in, a quick heads-up… If your cash flow has been feeling tight, or honestly, if you’re just not quite sure where your cash is really going, you need to join my free lightning session this week on Maven: 5 Cash Flow Killers Draining Your Bank (And How To Fix It) It's just 3 hours after this sends, so I sent the e;mail early to give you more time to sign up. The session is fast and practical and will change how you look at your bank balance. And if you want to go even deeper,...
Get smarter about business finance in 5 minutes a week. Join 35k+ business owners and leaders learning financial statements and growing their business, for free.