By Rich Bond
People often boast that they have “X years of experience.” But what they really have is one year of experience – X times.
How about your finance person?
The world is changing rapidly, but many people in finance have not. They have continued to do the same thing over and over for years.
I worked with the owner of a company with $30 million in sales and had 19 patents approved in 20 years.
He was thinking about replacing his controller, who had been with the company for 15 years, but had some reservations.
When I asked him when the last time the Controller came up with a new idea, his response was never.
That Controller deserved to be fired!
The new Controller we recruited, on a confidential basis, reduced inventories by over $1 million, while increasing the on-time order fill-rate from 85% to 90+%. And that was just in his first year on the job.
If your finance person isn’t constantly pointing out new opportunities for growth or cost savings, it is costing you money.
We have helped our clients hire and retain financial professionals who have added from $100,000 to $100 million/year to their bottom lines.
Reach out to me if you want to talk about how a change in your finance person could benefit you and your company.