FinFactor Business Finance
"FinFactor," hosted by Dryrun CEO, Blaine Bertsch, brings you into the world of top CFOs and top finance professionals. Each episode features insightful interviews with industry leaders who share their expertise on managing business finances, tackling complex financial challenges, and driving organizational success.
Through engaging conversations, you'll gain valuable insights into the strategies and practices that define effective financial management. From finance technology to CFO best practices, "FinFactor" covers it all.
Subscribe, follow, and like "FinFactor" to stay informed and inspired by the finance pros who are shaping the future of business. Don’t miss an episode!
FinFactor Business Finance
Cash Flow: The Myths and Flaws in Conventional Strategies with David Safeer
In this conversation, Blaine Bertsch and David Safeer discuss the myths and flaws in conventional cash flow strategies and emphasize the value of a holistic approach to cash flow management. They highlight the need for accountants and bookkeepers to be curious and cared for in order to improve their clients' financial well-being, as well as the opportunity for accountants and bookkeepers to help businesses improve their cash flow. They also discuss the need for pivoting business strategies when necessary, building long-term relationships with clients, and cutting low-margin products and services.
Catch every episode FinFactor where we interview CFOs and finance professionals to uncover the best strategies financial management overcoming complex business challenges. Don't forget to subscribe, follow, and like the show to stay updated with our latest episodes and expert insights.
Watch on youtube: https://youtu.be/vM3xK0PulQs
Listen on your favourite podcast network or at https://finfactor.buzzsprout.com
Learn more about David at https://www.davidsafeer.com/
#CFO #fp&a #business #finance #finfactor
Summary
In this conversation, Blaine Bertsch and David Safeer discuss the challenges of GAAP accounting for small business owners and the importance of cash flow management. They highlight the need for accountants and bookkeepers to have a curiosity and care for their clients' financial well-being. The conversation also explores the myths and flaws in conventional cash flow strategies and emphasizes the value of a holistic approach to cash flow management. They discuss the opportunity for accountants and bookkeepers to help businesses improve their cash flow and the importance of understanding and addressing cash flow for business success.
In this conversation, Blaine and David discuss various aspects of cash flow management and business strategies. They share lessons learned, emphasize the importance of sales and pipeline management, and discuss the significance of identifying profitable clients and firing loser clients. They also talk about the need for pivoting and shifting business strategies, building long-term relationships with clients, and cutting low-margin products and services. The conversation highlights the complexity and depth of cash flow management and explores reverse cash flow strategies. Finally, they discuss the cash flow advisory certification and training offered by David.
Takeaways
GAAP accounting can be challenging for small business owners who lack formal accounting education, making cash flow management and modeling crucial for their success.
Accountants and bookkeepers should have a curiosity and care for their clients' financial well-being, going beyond reporting to actively helping them improve their cash flow.
Conventional cash flow strategies often overlook the unique needs and opportunities of individual businesses, requiring a holistic approach to cash flow management.
Understanding and addressing cash flow is essential for all businesses, not just those with cash flow problems, as it can lead to improved profitability and growth.
Accountants and bookkeepers have the opportunity to provide valuable guidance and support to businesses in improving their cash flow and overall financial health.