Why Trust is not an Internal Control

pencil Posted by Richard Veltre on May 21, 2019

Not too long ago, I did a follow up call with a former client; just to see how they were doing. I found out that both their CFO and their COO had resigned. I thought, "Wow! How amazing was that timing? I made a phone call right at the time when we might be able to help!" The client agreed to re-engage us and I went to my first meeting. And right away we got hit with the bombshell: "Something is not right with the books; we think the CFO left with some money." Now we're doing a fraud investigation.  So much for helping...

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5 Things to Consider When Negotiating with a Bank

pencil Posted by Richard Veltre on January 23, 2018

Whether you’re a sole proprietorship, limited liability company, or corporation, obtaining a small business loan will be a top priority when it’s time to expand your company’s reach.

If you dread ‘haggling,’ consider these tips for negotiating with a bank.

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Controllers vs CFOs: What You Should Know

pencil Posted by Richard Veltre on October 24, 2017

There are two financial leadership roles in business: controllers and CFOs. They have very different jobs and are not interchangeable; although both typically have an accounting background and may begin their careers as accountants, CFOs need a much broader skill set.

The difference between controllers and CFOs is primarily that of perspective. Controllers focus on compliance and historical record keeping (i.e., tactics), whereas CFOs focus on planning and future performance (i.e., strategy).

Here’s the scoop on controllers vs CFOs:

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Geographic Expansion: What You Need to Know

pencil Posted by Richard Veltre on September 13, 2017

Expanding your business geographically will grow your sales portfolio and revenue while also creating a more extensive brand awareness. Before you begin, however, there are some fundamentals to cover.

Choose a Location

Don’t randomly choose a location to expand into – do your research first. Consider the markets you’re most interested in to determine:

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Why You Need to Create a Business Exit Strategy Plan

pencil Posted by Richard Veltre on September 5, 2017

Businesses always start with a dream. In fact, maybe you were literally asleep when you had the million-dollar idea. With a lot of blood, sweat, and tears, you made your idea real, and now you’re happily running your business, not thinking about the end.

Here's why you need to create a business exit strategy plan.

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There's Nothing United About You!

pencil Posted by Richard Veltre on August 15, 2017

I recently spoke with a company from Europe that wanted to know what would be necessary to launch a brand in the United States – and it seemed that with every sentence, the list of administrative requirements got longer. During the conversation, I kept remembering a very distinct quote a client in the United Kingdom used when we dealt with the same issue:

 “For a country called the United States, there’s nothing united about you!”

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What’s a KPI and Why Should I Care?

pencil Posted by Richard Veltre on February 23, 2017

Entrepreneurs and small business owners crave information. Their company’s survival may depend on their knowledge of certain operational and financial data specific to their company and possibly their company’s industry. As the company grows, the owners are looking for more and more business intelligence as new challenges arise, and every piece of information must be viewed two ways.

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“Reduce Sales? Are You Out of Your Mind?"

pencil Posted by Richard Veltre on October 1, 2013

Anyone heard this one?  Hopefully not.  But I’ve heard it several times in the last few years and I have no problem with the fact that I’ve been called “crazy.”  The C-suite of a Company should be working as a team to guide their business in the right direction.  But imagine the disruption when the company’s top financial strategist tells the company’s chief executive that sales are a company’s problem.

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