Year: 2013

Charitable Giving

While many of our readers give to their favorite charities throughout the year, many make a special effort to benefit additional charities during this time. If you have charities that you know well and support, then you hopefully understand their mission and are familiar with how they spend your giving.  Unfortunately, we are all approached… Read more »

Family Business Surviving without the Founder

Unfortunately some family members abruptly have to take the reins of a family business due to an unforeseen illness or loss of the business’ leader. While there are a large number of family businesses that will be transferred over the next few years in an orderly fashion, those that have not taken the time to… Read more »

Networking – Through all stages of employment

Our firm, B2B CFO®, places great emphasis on building a quality network of business relationships.  Frankly, most of the referrals our partners receive come from a network of trusted associates.  So I spend a fair amount of my non-billable time attending meetings and events that will expose me to people who may become part of… Read more »

2014 Mileage Reimbursement Rates

Friday the IRS announced the 2014 mileage reimbursement rates.  The rate in 2014 for the optional standard mileage reimbursement will be $0.56 per mile in 2014, down from $0.565 per mile in 2013.  Medical and moving reimbursement rates also dropped by one-half cent in 2014 to $0.235 per mile.  Rates applicable for rendering gratuitous services… Read more »

Financial Information for Investors

I will be speaking later this month to a group of start-up entrepreneurs in northern Kentucky on the topic of “Financial Information for Investors.”  It seems only fitting to also share this material with those who read this blog. Investors want to understand your vision for the company and they want to see financial information… Read more »

How is your relationship with your banker?

Some business owners have close relationships with their bankers, others wish they didn’t need a banker and still others only interact with their banker when necessary.  Bankers have a vested interest in your business.  Whether they are in the board room or calling on customers, they want to be assured that their interests are aligned… Read more »

Should you accept customer credit cards in payment?

For some industries this question is moot.  Of course those dealing with high levels of consumer activity must take credit cards in payment.  Retailers, restaurants and online merchants would find it difficult to insist on cash and might not like to receive consumer’s personal checks.  But for merchants who have a B2B business the answer… Read more »

Should I pay suppliers with company credit cards?

If you are contemplating paying your business expense with a company credit card, it is important to consider the motivation for using this form of credit.  I am a strong advocate of a well-managed employee credit card program that is paid-off monthly with the issuing bank.  Company credit cards avoid the problem of requiring employees… Read more »

Business Metrics

There is no single business metric that is crucial to every business nor every industry. Most metrics are historical measures of ratios and relationships that the business deems critical to their success.  The metrics may be financial but more often are measurements of volume or utilization of employees.   In service industries metrics often focus on… Read more »