By Rich Bond
“Rich, if I had known it would be this easy, I would have done it years ago.” That’s what one of my clients told me after we replaced his company’s Controller of 20 years. The owner had been frustrated because his financial results were not what he wanted. But he hesitated in making a change.
The company had lumbered along almost like a bike with square wheels because the previous Controller was no better than a bookkeeper, going through the motions of creating monthly, quarterly, and yearly reports. There was no analysis. No way to know if there was an easier path to greater sales and profitability.
When the new Controller arrived, he did a deep dive into the financial statements and the details behind them. He asked questions to understand the business and performed true analyses. Within a year, he unlocked over $1 million in working capital that was put to good use in increasing sales and doubling profit. The company was off to the races.
This client is not alone. As a financial recruiter with 30+ years of experience in corporate finance and owning a family business, I can share similar case histories of how the right Controller can make a huge difference business performance.
I also have developed in conjunction with a CFO friend and colleague a special methodology for evaluating a Controller’s or a CFO’s performance. If you give me a call or text me at 203-216-0618, I can arrange to spend 30 minutes with you (virtually) to go through this evaluation.
Maybe a simple change is all that’s needed to smooth your path to greater sales and profits.
(Photo used with permission. Credit: John Lund)