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7 Ways To Increase Profit And Business Value

Published: by charlottenoble
7 Ways To Increase Profit And Business Value

Have you ever wondered how your business is valued in the eyes of an external party? Then you need to know the seven (7) levers in your business.

With just a little additional focus on one or more of these 7 levers, you can directly improve the cash-flow, profitability and/or value of your business. There’s no smoke and mirrors, nor anything particularly difficult to undertake. However, many business owners do not take the time to appreciate how the financial performance of their business really works.  So, let’s break it down.

Often business owners will primarily focus on sales volume, in other words trying to sell more. However, whilst sales volume is important, it’s only one of the 7 levers available to you.

What are the 7 levers in a business that control your cash, profit and business valuation?

The first four levers are focused on your Profit and Loss and therefore directly impact the profitability (and cash-flow) of your business. As most, businesses are valued at a multiple of cash earnings. These levers also have a huge impact on the value of your business (along with other aspects such as Brand, customer base / income streams, and internal expertise / “keyman” dependence).

  1. Volume

Selling more – although increasing sales can grow your business, don’t forget to focus on the other levers below! How much of every extra $1 in revenue turns into profit and into cash in your bank account, and when?

Tip – formulate a sales & marketing plan, with a budget, which is aligned back to your  overall Strategy. Review and tweak the plan regularly.  This will help keep you focused on the right way to grow your top line.  Any growth needs to be sustainable!

  1. Pricing

can you increase your prices? Even a 1% increase can have a big impact. There can be a fear of losing customers by putting up your prices, which can often be unfounded.

Tip – review your margins by product / service stream / customer to ascertain which sales are making you money and which are not.  You need to know your break-even points!  Your part- time CFO can help – they love this stuff!

Tip – the results of your pricing analysis need to dovetail into the sales & marketing plan. It’s possible to make more profit from less turn-over!

  1. Cost of Goods Sold – reduction in % terms

This lever is most relevant to those businesses with direct costs such as manufacturers, construction, etc and places the focus on your gross margin.

Tip – revisit your direct purchasing arrangements and negotiate better terms and pricing. For example, bulk purchase discounts, early payment discounts, reduced freight.  Maintaining strong supply chain relationships is important but that doesn’t mean you can’t ask the question (or find potential alternatives).

Tip – review your direct labour-force using metrics such as labour utilisation, overtime levels, re-work, customer complaints, and down-time.  You may be able to re-deploy staff or reduce casual labour / overtime once you have this data.  Again, your part-time CFO can make this happen for you.

  1. Reducing Overheads

This may sound like an obvious one, but we always find at least some unnecessary “fat” in our client’s overhead expenditure.

Tip – someone needs to review the overheads line by line. Indirect / office wages, communications, insurance, utilities, freight, and advertising are the common ones where savings can be achieved. Even small reductions in certain areas can all add up over time!

These last three levers are focused on your Balance Sheet and are collectively called Working Capital. They have a significant impact on your cash-flow and therefore also on your funding requirements. Many businesses can avoid additional debt borrowings, or pay their existing debt faster by shortening their cash-conversion cycle.

  1. Reducing debtor days

This means improving the ageing profile of your Accounts Receivable function (i.e. getting your customers to pay you faster).

Tip – review your credit control policy and your payment terms as customers with poor payment histories should be carefully managed.  Review your collections process in terms of who chases the debt and when.  The introduction of direct debit may be an excellent solution for some businesses.

  1. Reducing stock days

This means a faster conversion of your inventory (if you carry it) into sold product, thereby reducing the amount of stock you hold.

Tip – introduce a stock-take process if you don’t have one. This can ensure that your financial records mirror what you actually have on the shop-floor. Then review the results of the stock-take for slow-moving or obsolete stock items – these may need to be discounted in order to convert them into cash.  Your purchasing policies may also need review if you are over-stocked with certain inventory lines.

  1. Increasing creditor days

This means taking longer to pay suppliers (without hurting the relationship or cutting off supply).

Tip – contact your suppliers to re-negotiate your settlement terms. It’s just a matter of asking the question – they may say “no” but then again, they may really value your business.

Now you know the what the 7 levers are, it’s time to do something tangible with them in order to make a real impact on your business. If you don’t have the internal expertise or time to make it happen, we would be happy to talk to you about how a part-time CFO can bring this to life. After all, as CFOs it’s what we do!

 

Photo by Monstera

Do These 6 Things Before You Plan For The Year Ahead

Published: by charlottenoble
Do These 6 Things Before You Plan For The Year Ahead

Now is the perfect time to reflect on the year just gone and plan for the year ahead.  The last two years have thrown many of us challenges and/or opportunities never seen before.  So how can your business go further or do better in 2025?

Below is a checklist for businesses to help you when planning for the future:

  1. Know Where you Stand

Does your financial reporting provide you with an accurate and timely view of the financial performance of your business? These could contain:

  • Historic balance sheet, profit and loss and cash-flow together with a set of key performance indicators (KPIs) that the management team use to run the business on a day to day basis.
  • Rolling forecast balance sheet, profit and loss and cash-flow driven by the same KPIs. Even a static annual budget is better than no target at all.

  1. Analyse

Have you analysed all of your products or service offerings and identified those that should be invested in and those which should be scaled back to improve the performance of the business?

  1. Review Costs

Have you reviewed all of your costs and identified all of those costs where alternative suppliers can be identified and current deals can be renegotiated? This helps to minimise your cost base and refine your negotiation skills.  Are there possible savings from systems and/or process streamlining?

  1. Review Customers

Have you reviewed all your customers and identified the good ones form the bad ones i.e. those that take ages to pay and/or beat you down on price etc.? It may be time to let the bad ones go and focus on the ones you want.

  1. Assess Risk

Have you assessed all of the obvious risks in your business and made sure that you have a contingency plan in place to avoid those with the highest likelihood and most significant impact?

  1. Your Personal Goals

Take the time to really reflect on why you started the business, are those goals still the same today and are you getting closer to achieving them?

Plan:

Once you have considered the above, you are ready to start planning.  A clear operational plan for the future of the business, which shows you the steps required to implement that plan is the best road to success.  If you do not have this it will be impossible to identify opportunities that arise next year that fit your plan for the business.

Most of our clients have been through this process with our guidance and as a result many are now looking to exploit the opportunities, to expand their markets and recruit key staff to help drive their businesses forward in 2025.

To get your business in the best shape for 2025, contact the CFO Centre on 1800 918 1906.

The CFO Centre is dedicated to helping businesses meet their strategic objectives. Find out how it works here

 

What Is The Most Important Number In The Universe?

Published: by charlottenoble
What Is The Most Important Number In The Universe?

Numbers matter.

Our mathematical universe is constructed of numbers.

Some we can see. Most we can’t.

From the speed of light to the parabolic curve of a free-kick in soccer, maths underpins the laws of the universe.

We can also deconstruct our entire lives in numbers.

The average human lives for around 80 years – or 28,385 days.

Most of us will spend 33 years in bed. That’s 12,045 days. For those who hit snooze when the alarm goes off in the morning, it might be closer to 34 years…

You’ll likely spend around 13 years and 2 months (4,821 days) at work. Hopefully, doing something you love.

And 11 years and 4 months (4,731 days) staring at a screen.

That doesn’t leave a huge amount of time for the things that really matter in life…

Spending quality time with family is remarkably, although perhaps unsurprisingly, a very small part of our modern day lives. We’re down to just 38 minutes a week or 104 days in our life time.

That one makes you think.

When it comes to socialising, there’s a little improvement – we’re up to 1 year and 3 days. Again, it’s not a lot, is it?

In business, it seems like we focus constantly on the numbers…
…Leads, opportunities, wins.

Year on year growth.

Cash flow, profit, valuation.

But how often do we put these numbers into context?

How often do we ask ourselves ‘what is the number that really matters to me?’

When we ask entrepreneurs this question, they often find it hard to answer.

It’s an unusual question and causes an interruption in our conditioned daily thought pattern.

One entrepreneur said the number that really mattered to them was ‘6’ as it represented the number of weeks they spent each year skiing, because they had designed their business to support their lifestyle.

Another said ‘13’ to denote the $13m asking price for their business which meant they could retire early and never worry about money again.
The numbers that appear on your P&L and balance sheet matter, but when was the last time you stopped and asked yourself ‘what is the number that really matters to me?’

It’s a powerful question and invariably creates an energetic shift which can fuel a new trajectory for your business and indeed your life.

If you’re struggling to answer that question, we’d love to help: www.cfocentre.com 

CONTACT US (Discovery form)

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Don’t Call it Your Dream, Call it Your Plan

Published: by bethfarnham

Life through a lens

One of the toughest challenges for owners of SMEs is to be able to stand back, to look at their business through a wide-angle lens and identify what it is they really have.

Because quite often, the day-to-day distractions and diversions that inevitably surround the running of a successful business – particularly when there’s a global pandemic pulling the rug from under everyone’s feet – get in the way of sensible, objective evaluation and strategic decision-making. Crucially, that can mean that really important opportunities to grow and develop go at best un-exploited and at worst, un-noticed.

This is where the role of Chief Financial Officer becomes so vital. And where the specific advantages of joining forces with a part time (and often virtual) CFO are brought sharply into focus.

Allow yourself to dream…

What does your CFO do for you as the owner of an SME? Hopefully, they’ll make sure that everyone gets paid the right amount at the right time; sort out your internal reporting, compliance and tax planning, and probably run your relationship with your bank.

While that (along with a few other bits and pieces) is probably enough to keep a business ticking over, it’s not a reasonable platform on which to base a sound growth strategy.

Of course, things look even worse if you don’t have a CFO on your team. Whatever your business and whatever your own specific talent, it’s almost certain that you didn’t get into business to spend your life doing cashflow projections or dealing with taxes! No dreaming for you – you’re more likely to be waking up at 3 am in cold sweats.

A CFO Centre CFO can help make your dreams come true

When you started your company, you almost certainly allowed yourself to dream – every successful business operator needs ambition. But as we’ve seen, all too often those aspirations become bogged down in the everyday grind of keeping a business afloat.

The CFO Centre team provides CFO expertise of a very high caliber – the top 1% of talent in the marketplace. These are people who know their stuff – the operational finance stuff, which keeps the wheels in motion and the strategic finance stuff, which brings the dream to life.

In many cases they’re able to draw on their own business success to guide others.

A CFO Centre CFO will help decode the dream and turn it into a plan and be the one to hold you to account to make it happen. He or she will bring forward the target by showing you how to come at it from a different angle. Great CFOs are catalysts and can help you break the pattern of linear growth and get you what you really want on an expedited timetable. And that’s essential if the dream is still to come true.

The CFO Centre ‘Entrepreneur Journey’: our ‘secret sauce’

All CFO Centre CFOs operate within an environment that provides comprehensive support and expertise. The CFO Centre has a global network – a Collective Intelligence Engine – of more than 700 individuals, each of whom has achieved success as a CFO and often as an MD or CEO, themselves. What’s more, they are uniquely able to access and deploy the limitless potential locked up in your business model. And they talk to each other, share expertise, experiences, and contacts.

In brief, a CFO Centre CFO will guide the entrepreneur on a three-stage journey to achieve clarity about what it is they really want from their business. To take them from where they are now, to where they want to be.

And to be clear: ‘where they want to be’ is an individual choice for the business owner. It might involve scaling up significantly; it could mean launching new products in new markets around the world; perhaps it means ratcheting up your multiple as you prepare for exit. Whatever form it takes, it’s invariably about making that dream a reality by refashioning the plan and making sure it actually happens.

Stage One on the journey covers the process of achieving operational excellence. In other words enabling an organisation to do what it does best, to the best extent possible.

Stage Two, strategic opportunity, involves preparing the springboard. This is where the strategy to achieve those dreams is forged. Perhaps it’s a question of entering new markets; evaluating risk, raising new funds. Whatever the strategy, it’s based on sound experience and, yes, that ‘secret sauce’ that blends the logic with a little magic and know how.

Stage Three, game-changing performance is, simply, what happens when stages one and two are complete.

The dream is achieved by developing a concise roadmap based on what the business owner wants to achieve. The role of the CFO Centre CFO  is to identify and unlock that potential – thus freeing the dream and making it a reality.

Fly like a bird

Of course, this is not to suggest that success comes easily. Business challenges are usually complicated and risky. That’s another reason why potential isn’t always realised; why many business owners end up working late nights on mundane tasks.

So, one of the first conversations a CFO Centre CFO will have with a client is to understand what it is that motivates them to be in business, and what they want to achieve from it. What really matters to them. There are numbers, many numbers, in the life of a CFO, but it’s identifying and understanding the numbers that really matter in the client’s life that is crucial.

A CFO Centre CFO aims to unlock that potential and give wings to the dream.

CONTACT US (Discovery form)

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How to Scale Your Business for Growth

Published: by charlottenoble
How to Scale Your Business for Growth

How to scale your business often depends on two factors: your company’s capability and its capacity to deal with growth.

To scale up your business, your company must be capable of dealing with a growing amount of work or sales and of doing it cost-effectively.

You need to know that your company can achieve exponential growth without costs rising as a result. It’s vital too, that performance doesn’t suffer as your company scales up.

You also need to be sure that your business systems, employees, and infrastructure can accommodate growth. For instance, if you get a sudden surge in orders, will your company be able to cope? Will you be still able to manufacture and deliver products or services on time? Do you have enough employees to deal with a surge in work or sales?

Scaling a business requires careful planning and some funding. To be successful, you’ll need to have the right systems, processes, technology, staff, finance, and even partners in place. Keep reading to learn how to scale your business below:

Identify Process Gaps

Audit your business processes (core processes, support processes, and management processes) to find their strengths and weaknesses. Find the process gaps and address them before you start to scale up.

Keep the processes simple and straightforward. When learning how to scale your business remember that complex processes slow things down and hinder progress.

Boost Sales

Decide what your company needs to do to increase sales. How many new customers will you need to meet your scaled-up goals?

Create a sales growth forecast that details the number of new clients you need, the orders, and the revenue you want to generate.

Examine your existing sales structure and decide if it can generate more sales. Can you increase your flow of leads? Do you need to offer different products or services? Is there an untapped market? Do you have a marketing system to track and manage leads? Is your sales team capable of following up and closing more leads?

Make sure you have enough staff to cope with an increase in sales. If you don’t have enough staff, consider hiring new employees, outsourcing tasks, or finding partners that may be able to handle functions more efficiently than your company.

How to scale your business means learning how to first Forecast costs

Once you’ve done the sales growth forecast, create an expense forecast that includes the new technology, employees, infrastructure and systems you’ll need to be able to handle the new sales orders. The more detailed your cost estimates, the more realistic your plan will be.

Get funding – knowing how to scale your business means knowing where it needs to scale also:

If you need to hire more staff, install new technology, add facilities or equipment, and create new reporting systems, you’ll need funds. Consider how you will fund the company’s growth.

Make delighting customers a priority

To reach your sales forecasts, your company will need loyal customers. You’ll win their loyalty by delivering outstanding products or services and customer service every time you interact with them.

How to scale your business by investing in technology

Invest in technology that will automate tasks. Automation will bring costs down and make production more efficient.

Ensure that your systems are integrated and work smoothly together.

Ask for help about how to scale your business:

Don’t be afraid to ask for help from experts who have experience in scaling up companies. In an interview, Apple’s co-founder, Steve Jobs, said, “I’ve never found anybody who didn’t want to help me when I’ve asked them for help.

“I’ve never found anyone who’s said no or hung up the phone when I called – I just asked.

“Most people never pick up the phone and call; most people never ask. And that’s what separates, sometimes, the people that do things from the people that just dream about them. You gotta act. And you’ve gotta be willing to fail; you gotta be ready to crash and burn, with people on the phone, with starting a company, with whatever. If you’re afraid of failing, you won’t get very far.”

If you have enjoyed this brief article you may also enjoy learning about our 12 box approach!

External Funding Options for Your Growing Business

Published: by charlottenoble
External Funding Options for Your Growing Business

Your Guide to Business Financing

Getting external financing to fund your company’s growth will depend on your plans, how willing you are to give away a stake, and, therefore, control in the business, your eligibility, and the short-term or long-term funding you need.

How to finance your business growth

Bank finance

Banks can offer you:

  • Unsecured business loans. These will have fixed repayments (including interest) over a set time frame. The amount and the interest rates will depend on the bank and your circumstances.
  • Secured business loans. To obtain a business equity loan, you’ll need to offer your company collateral or assets as security (for example, property, inventory, or equipment). The amount you can borrow will depend on the value of the assets.
  • Buy-to-let loans and commercial mortgages. These are suitable if you’re looking to buy or remortgage business premises.
  • These are more suitable for short-term financial support when your company has a cash shortfall.
  • Business credit cards. Again, these are probably best for short-term support.
  • Invoice finance. It will mean you can access cash that is otherwise tied up in outstanding invoices. It’s ideal if your company offers long payment terms to customers or if you need to grab growth opportunities.
  • Asset finance. This allows you to make small regular payments for an asset rather than a large, one-off payment. It is ideal If you want to preserve your working capital and generate income from an asset as you pay for it.

Angel investors and venture capitalists

If you’re willing to offer a share of your company or equity, you could approach third party investors such as angel investors or venture capitalists (VCs).

You might not have to repay their investment, but the share they will want in return is likely to be high.

Alternative investment markets

You could also consider alternative finance options. These include crowdfunding and peer-to-peer funding.

  • Crowdfunding. In return for early access to your products/services, discounts, or an equity stake in your company, you can raise the money you need from a crowd of small investors.
  • Peer-to-peer lending. You can borrow from individual small investors. If your application is successful, you’ll probably be able to borrow more than you would through a bank and access the funds quicker.

The criteria for the loan might not be as stringent as a bank, but the costs might be similar.

Is your company eligible for funding?

Banks and investors often use what’s known as the CAMPARI method to decide if your company is eligible for funding. That is:

  • C This incorporates everything from your professionalism and brand reputation to your company’s record in repaying loans.
  • A This is about you and your team’s knowledge and expertise and how successful you’re likely to be to generate growth from the financing that investors are being asked to provide.
  • M This is about how well your business is equipped to meet your growth plans. Investors will want to see your Return on Equity (ROE), growth projections, your competitive advantage, detailed financial reports, performance record, and a comprehensive expenditure report.
  • P Investors will want to know how you will use the funds and how they will help to boost the company’s financial situation or generate a profit.

For example,  if you have no liquidity in the business but need it to fulfil an order or if you need a type of machinery to be able to increase your product or service range.

  • A This is about showing investors how you came to decide on the level of funding you’re applying for.
  • R Investors need to be convinced you can afford any repayments. They’ll look in particular at your cash flow and profit margins.
  • I This is all about showing investors you have a fallback position if things go wrong. They’ll need to be convinced you have another source of repayment should you need it.

Use Management Dashboard to Make Fast Data-Driven Decisions

Published: by charlottenoble

The use of management dashboards to monitor management KPIs, metrics and other essential data points will allow you and your management team to make rapid, data-based decisions based on up-to-date information about your business.

A management dashboard provides you with a comprehensive snapshot of the company’s performance. This is critical since it condenses massive amounts of information into a one-page summary that can provide invaluable insight into the health of your company and help with executive decision-making.

It allows you and your managers to access the most relevant information instantly.

The data is represented graphically using tables, line charts, bar charts, sparklines, maps, or gauges so you and other users can see the information at a glance.

They also allow you and other users to drill down to investigate further if necessary.

Types of business dashboards

There are three types of business dashboards:

  • Operational dashboards which emphasise monitoring. These reflect the business processes and help monitor KPIs.
  • Strategic dashboards which emphasise management. They reflect the end status of a KPI or metric for a set period.
  • Tactical dashboards that highlight analysis. They will help you to identify trends and to track how metrics have changed.

Finance dashboard

Your finance dashboard should offer a summary and interpretation of key aspects such as profit and loss, and cash management.

Sales and Marketing dashboard

Your marketing dashboard should provide insight into how successful the company’s marketing efforts are at generating sales and attracting and retaining customers. You should be able to see where people are getting ‘stuck’ in your sales funnel or pipeline.

Risk management dashboard

Your operation and safety dashboard should help you and your team to manage and prevent risk. It could include training and awareness, incident management, claims, compliance, risks for assets and projects, and hazard identification.

HR dashboard

Your HR dashboard should provide reports on internal metrics such as employee satisfaction as well as external metrics such as your company’s success rates for recruitment. Depending on the size of the organisation, it could also be used to track turnover and retention rates.

The benefits of using management dashboards

  • Instant access to core business metrics

Users across your organisation will be able to access core business metrics.

  • Consolidate data from across multiple analytic services

The management dashboard consolidates data from many data points in an organisation to provide one reporting interface. It will save time and effort typically spent on compiling reports, signing into different analytic services and then sharing the data to everyone in the company.

  • Provide real-time updates

Since changes in data or values is reflected in dashboards, you can identify fluctuations in crucial business metrics when they happen rather than having to wait for daily or weekly reports.

  • Align departments

Dashboards can provide metrics that are relevant to each department.

  • Allow root cause analysis

If you spot unusual trends in your summary reports, you can drill down to find their root cause.

  • Communicate and manage strategy

Dashboards can be used as agents to boost organisational change.

How to design the best dashboard

A well-designed dashboard will help improve your company’s productivity and save time, but a badly-designed dashboard will confuse users and challenging to share. It needs to be easy to use and to report the most meaningful data and insights.

That’s why it’s critical that you select the right metrics to display. Avoid the temptation to add as many metrics as you can. If you need to monitor lots of metrics, use dashboard tabs.

Keep the design simple to make it easier for people to read and to digest the information. Avoid using too many colours or fonts or different graphics. Group data in a way that’s relevant and which provides context.

To encourage as broad a range of users as possible, make the dashboard interactive with options to filter and drill down.

Decide the reporting frequency based on the type of dashboard you’re using. For example, structure operational dashboards so they provide daily reports and set up strategic dashboards to give a monthly or quarterly report.

Client Story: Walker Homes Ltd.

Published: by annbeldia
Client Story: Walker Homes Ltd.

Client Profile

Located in Port Elgin, Ontario, Walker Homes Ltd. specializes in constructing beautiful new homes that stand the test of time. Co-owners Ryan and Brooke Walker carry on three generations of family homebuilding tradition, helping to develop thriving communities with each new build.

Walker Homes goes the extra mile for its customers by guiding them through each step of the home-buying process, all the way to closing day. Your family can then enjoy the 9-foot ceilings, Napoleon Gas fireplaces, luxurious Canadian-made kitchen cabinetry, and brick exteriors that come standard with each Walker home.

The Client’s Need

Walker Homes had been steadily busy for a number of years in a strong housing market. However, the company was quickly outgrowing their financial system, which consisted of manually entering projects, revenue, costs, and other important data into Excel spreadsheets. They also handled procurement verbally without a purchase order management system, and tracked hired contractors by cheque stub.

This system offered no way to generate financial reports, budgets, or forecasts hampering business growth.

In January 2019, the Walkers discussed their concerns with their accountant, who suggested they contact The CFO Centre for assistance in getting their financial management under control.

“Brooke and I wanted our time back from working with a system that no longer met our needs, so we were intrigued by what The CFO Centre had to offer. When we were introduced to Byron Dyck, we were thrilled to learn that not only was he intimately familiar with the Port Elgin area, but that he also used to run his own construction company before joining the firm. We couldn’t wait to get started.” – Ryan Walker, Co-owner, Walker Homes Ltd.

The CFO Centre Solution

Byron drove out to the Walkers’ location for a fact-finding visit to learn more about their business, listen to their pain points, and pull from his experience as a construction business owner and a CPA to discuss possible solutions that would be part of their overall action plan.

“Byron paid close attention to where the business was now and where we wanted to take it. It was refreshing to speak to someone who knew our business, understood what we were facing, and could offer the advice we needed to succeed. We felt so confident that he was the one who could help us that we signed the engagement letter that same afternoon.” – Ryan Walker, Co-owner, Walker Homes Ltd.

Byron reviewed his clients’ goals and created scenarios in order to put together an ambitious financial strategy to move their business forward. The highlights of the plan included:

  • Decommission the use of Excel for financial recordkeeping
  • Install specialized integrated construction software
  • Fully revamp their estimating, invoicing, cost reporting processes system to better track projects
  • Increase financial report frequency to once per month
  • Put budget and forecasting processes in place
  • Hold monthly financial review meetings to discuss results, make changes where necessary, and track progress
  • Negotiate better payment terms with creditors

Walker Homes also enabled Byron to work remotely from his location, granting him network access to their system so he can mentor them through the implementation and use of their new software in real time.

Byron set this remote system up because The CFO Centre focuses on collaboration, and fosters strong working relationships with their clients to implement strategies completely customized to their needs. The ultimate goal is to keep CFO Centre clients competitive and well-positioned for long-term sustainable growth.

The Results

After working with Byron to implement the plan, Walker Homes has seen an increase of 300% in sales volume. In addition, by the end of 2019 they had pre-sold their entire 2020 inventory, and as of November 2020 they’ve sold a vast amount of their 2021 inventory, even under the current year’s challenging economic climate.

Behind the scenes, the clients saw results that improved the overall operation and financial health of their business, including:

  • Significantly improved financial management across the board
  • Improved scalability for increased volume of projects
  • Monthly review of financial statements to report on individual projects
  • Seamless record keeping and retrieval
  • Favourable payment terms from their biggest creditor, improving cash flow to stimulate growth
  • Additional funding secured in response to the COVID-19 pandemic
  • Hiring of additional staff to support data entry work

Byron continues to work with Ryan and Brooke one day per week, on call to answer questions about their new systems and provide oversight to their entire financial structure. For almost two years, the strategic partnership between Walker Homes and The CFO Centre has solidified into a professional relationship built on trust and experience, something that the Walkers are quick to recognize.

“Byron is always there when we need him. All it takes is to send him a quick text and he’ll get on the phone or Facetime to answer a question or help us solve a problem. We’re happy with the results and the ongoing support from Byron and The CFO Centre as we keep moving our business forward. In fact, we think of Byron as more than part of the team – we consider him family.” – Ryan Walker, Co-owner, Walker Homes Ltd.

For more information about Byron Dyck.

Contact

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