Small businesses may have a solution in place for bookkeeping and producing basic financial statements. Owners often yearn for analysis and forward-looking planning. The fractional (part-time) CFO model has existed for 20+ years to fill that void. Today there are more options than ever. Achieving successful results from fractional CFO engagements, however, can be a challenge. In this episode, Dave Hartley shares his insights about how business owners can create successful fractional CFO engagements that deliver the most value to their businesses.

More specifically, this episode includes:

• Differences between a fractional and full-time CFO
• Recommendations for selecting a fractional CFO
• Setting realistic expectations for your fractional CFO engagement
• Keys to successfully delivering fractional CFO engagements
• Pricing models for fractional CFO services
• Graduating to a full-time CFO or transitioning to another type of fractional CFO

Dave Hartley can be reached at linkedin.com/in/davehartley. He is the co-host of the But Who's Counting? podcast.

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Businesses can become financially distressed and face challenges with solvency and potential bankruptcy. Business owners in this situation may be able to cut costs, tightly manage cashflow, and return to profitability. Sometimes they need to renegotiate debt, attempt to sell business assets, or ultimately dissolve the business. There may also be personal liability concerns for owners and officers. Today’s guest Charlie Goodrich helps businesses navigate these situations and achieve as favorable an outcome as possible.

More specifically, this episode includes:

• Definitions of bankruptcy, solvency, and related terms
• The process of dissolving when you have no secured or personally guaranteed debt
• The process when you have personally guaranteed debt or various kinds of lenders and investors
• Formal bankruptcy and alternatives to the formal bankruptcy process
• Examples of dissolving small businesses
• Personal liability concerns for owners and officers
• Managing bank lenders when your business is becoming distressed
• Being a vendor to a customer who is bankrupt

Charlie Goodrich can be reached at 781-863-5019 or charlie@goodrich-associates.com.

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Running a business is so hard that most go out of business within 5-10 years. There are many risks and factors outside your control. Today’s guest Bill Flynn shares his insights about several areas business owners can control and how you can position your business to overcome those odds to thrive with long-term success.

More specifically, this episode includes:

• Creating a Brain-Friendly Organization
• Conducting Effective Meetings
• The 80/20 Rule in Business
• Cash Flow is King
• Avoiding Leadership Bottlenecks
• Strategy and Execution are the Same Thing
• Start with an Articulated Vision

Contact gest Bill Flynn at catalystgrowthadvisors.com

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Healthy businesses have an established business model in which most new incremental hires produce profit for the business. Payroll expense can be viewed as an investment that yields a profitable ROI. Usually a hiring decision boils down to a question of how much more revenue do you need to sell in order to afford a new hire. This episode helps answer the question of whether you can afford to hire an employee.

More specifically, this episode includes:

• Viewing Employees as Profit Centers
• Return on Investment vs Affording a Hire
• How Much Do You Need to Sell to Afford a Hire?
• How Much Does a Salesperson Need to Sell to Pay for Themself?
• How Much Must the Business Grow to Hire a Manager?
• Labor Value Multiple
• Forecasting; Fixed & Variable Costs

Download the employee Hiring ROI Workbook using this link

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Healthy businesses produce healthy income for their owners. Compensation for business owners can take different forms. This episode discusses the primary forms of owner compensation and associated tax considerations. We also review bookkeeping and reporting considerations for how owner compensation is booked and reported on financial statements.

More specifically, this episode includes:

• The primary forms of owner compensation and how they are taxed both on the business and on its owner-employees
• How entity type and tax elections impact the taxability of owner compensation
• S-corporations and reasonable compensation standards
• How accounting for owner compensation can have a dramatic impact on financial statements and evaluating business profitability
• Pitfalls to avoid with owner compensation
• The importance of your CPA utilizing a holistic tax plan to help optimize your tax liabilities

Connect with guest Greg Reed at:
www.smartbookstax.com
greed@smartbookstax.com

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

The healthier we are personally, the more energy we can bring to our businesses to make our businesses as healthy as possible. There are several drivers of personal health. This episode reviews a book called Deep Nutrition, written by Dr. Cate Shanahan, which does a great job of helping us understand the nutrition driver.

More specifically, this episode includes:

• Ancestral knowledge prior to the rise of modern medicine
• The rise of chronic disease over the past 75-100 years
• Genetics (our genes) vs Epigenetics (why certain genes are turned on and off)
• How the food we eat influences our gene expression, which impacts not only our own health but also the health of our children and grandchildren
• The top 2 culprits in our modern diet
• Dr. Shanahan’s 4 Pillars of Cuisine
• Are supplements needed
• The opportunity to reverse chronic disease in the next 2-3 generations

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Profitability is one of the indicators of a healthy business. Although business owners aspire to have healthy profit margins, it can be challenging to achieve them. This episode’s guest Rocky Lalvani serves as Chief Profitability Officer to small and midsize businesses. He presents philosophy and tactics that help small businesses improve their profitability.

This episode includes:

• The Origin and Philosophy of the Profit First System
• How to Implement Profit First
• Building an Appropriate Cash Reserve
• Don't Spend $1 to Save 30 Cents of Taxes
• Ways to Improve Profitability
• Is Banking a Hassle with Profit First?

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Part of running a healthy business is being able to set and manage to achieve operational goals. This episode’s guest Bill Simmons has been in the fractional COO business for almost 20 years, helping clients run their business 90 days at a time toward achieving strategic objectives.

This episode includes:

• Bill's special sauce helping businesses manage their business 90 days at a time
• The benefit of fractional management expertise
• What it means to be a THRIVE business
• How to structure a fractional COO engagement for success
• If your vision is larger than yourself, you need to hire more than yourself

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/