I’m not talking about the receptionist or office manager who has been handed basic accounting chores. I’m talking about someone who is fully dedicated to this role, has at least 12 hours in accounting from an accredited college, and preferably holds some type of certification (I recommend the certification from the American Institute of Professional Bookkeepers).
I wonder if a segment for Stupid Business Tricks would have worked. Would it be watched? Would this be entertaining? Would these segments go viral through social media channels?
And would there be a common theme in these stupid business tricks?
More importantly, would you as a CEO be able to offer content to this segment?
Many years ago, I was playing the role of retail sabermetrician (every financial and marketing analyst should be called this), and I was frustrated because I could not get a better understanding of my company’s top line. At the time, we were growing by leaps and bounds, both organically and through strategic acquisitions.
Sure, same-store-sales analysis is typically the go-to metric in retail, but I needed a better way of determining the overall impact on the P&L through this hyper growth. Comparing year-over-year financials was not helpful, nor could I easily grasp the trends on our capital structure over time that easily.
I chose to become a 1099 CFO in 2001. I already had four clients by the time I wrapped up my first month as a young practitioner.
Not much has changed in terms of the basics–designing 50 to 60-page financial reports that CEOs can actually understand and that bankers like to share with their peers, bridging the gap between strategy and execution throughout the entire organization, and creating financial models where owners can figure out which levers to pull leading to greater success. There is so much more.
Loan closings, successful acquisitions, turnarounds, start-ups, ERP implementations, hiring and mentoring team members, and even coaching sales teams.
Is there more? Maybe a conversation for another day.