Small Business Consultant Offers 5 Financial Tips To Increase Profit

Rick Perrin is a partner at B2B CFO®. The company provides CFO and executive level services to small and mid-market companies on an as-needed basis. They concentrate on improving profitability, growth, cash and company value. Most of the companies have bookkeepers or controllers that don’t have the experience or training to properly analyze the business, and B2B CFO provides more general business advice.

Perrin works directly with owners and CEO’s of companies with up to $75 million of sales to improve operations and financial results. He has been a B2B CFO consultant to businesses for the last 10 years. Prior to this position, he was the CFO of two privately held companies that each doubled sales in four years.

Rick Perrin leads the management teams through strategic and financial planning for all the companies. He has a tremendous amount of experience driving manufacturing profitability improvement. Perrin has experience in fast growing companies in numerous industries. Perrin’s numerous specialties make him an expert in his field.  He holds a Master of Business Administration degree in corporate finance from the University of Wisconsin-Madison Business School and a Bachelor of Science in accounting from the University of Colorado in Boulder.

Perrin shares his expertise and knowledge in finance and business. He offers tips to small business owners on how they can be become more successful and grow their profits in the marketplace.

 

rick2 Small Business Consultant Offers 5 Financial Tips To Increase Profit

Rick Perrin
(Photo courtesy of Rick Perrin)

 

What are the top 5 things small businesses can do to be successful in the marketplace in terms of finance?

 

  1. Have an in-depth understanding of your costs and financial information, and use it to develop formal, team-based strategies to improve profitability.
  2. Use accounting staff to help understand and improve the business, not just track the numbers.
  3. Develop overhead and costing rates, no matter what type of business, to understand cost of service and/or production.
  4. Develop sophisticated pricing models using your knowledge of costs and overhead/costing rates to ensure profitable business.
  5. Use financial models to analyze all major business decisions.

 

This article was written by Michelle Guilbeau of Examiner.com for CBS Small Business Pulse.

 

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