Profit Experts

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Plugging Profit Leaks

Fred Parrish, CEO of The Profit Experts™, shares the most common ways businesses lose money and tips for how to plug the leaks to boost cash flow, the “lifeblood” of business.

Why Small Businesses Fail: What Your Accountant Is Not Telling You

Most CPAs are bright and capable but they are not trained to focus on the “operational intelligence” business owners need to make crucial decisions in a timely way. Fred discusses how to spot cash flow problems looming in the future and avoid financial disaster.

Stop Gambling with Profitability

Too often companies do not pay enough attention to cost control until they run out of cash. By then it’s too late to take the action to avoid the problem. And anyone who has ever tried to raise capital knows that the worst time to get cash from lenders is when you desperately need it. Fred discusses how companies can avoid an unforeseen cash crisis through disciplined planning.

Six Warning Signs of an Impending Cash Crisis

Managing cash should be an obvious priority when a company is not performing well, however companies in fast growth mode also face cash flow dangers. Fred shares six warning signs that your company may be headed for trouble.

Decision Traps and How to Avoid Them

From his book “The Profit Mentality: The Method for Making Every Decision a Profitable Success,” Fred explains how people at all levels of organizations can develop a “profit-oriented frame of reference” to avoid pitfalls that can lead to disaster in any business.

Cash: Lifeblood of Your Business

Cash and profit are not interchangeable. Since companies can’t actually “spend” profits, they must have sufficient cash available to fund operations until conversion occurs. Fred tells why generating cash is the most important aspect of profit management, and why converting profit into cash in the shortest possible time should be a goal of every organization.

The E-Myth CFO

Fred discusses his partnership with Michael E. Gerber, author of the E-Myth series who is known as the World’s #1 Small Business Guru, for an upcoming book.

Taking Quickbooks™ to the Next Level

Fred shares predictive management solutions companies can use to focus on the future and avoid cash flow mistakes that could cause them to go under.

Franchise Finance: Pitfalls and Solutions

Fred and The Profit Experts developed MyFranchiseCFO.com™, an information technology and financial services firm geared toward franchise owners. He explains how franchise owners can use Financial Intelligence, Predictive Management™ and CFO Coaching Services to discover their full profit potential.

Building Trust With Lenders

Actively managing your lending relationship is critical to your company’s success. “As with any relationship, trust is a major issue,” Fred says. “You must communicate with your bank officer often and with as little ‘spin’ on the truth as possible. The more often your story is proven true by actual results, the more trust you gain from the bank. Unfortunately, the opposite is true as well.”

Avoiding the “Latest and Greatest” Tech Trap

Fred tells how company leaders can avoid getting drawn into buying overpriced and unnecessary technology. “There is absolutely no need to consume company resources for the sole purpose of having the most current technology unless there is a clear benefit to the operation,” he asserts. The key to making smart decisions is to match purchases to both the current and anticipated needs based only on the company’s operating plan.

The Most Misunderstood Expense in Business

Employee turnover may be the most misunderstood and underestimated expense in business. Fred explains the three major ways turnover affects the bottom line, and how to minimize profit- and productivity-sapping personnel losses.

Know Your Breakeven Point

Understanding the breakeven concept can help company owners quickly determine where to focus their attention to improve financial performance and reach their profit potential. Fred explains how.

Are You Sitting on Found Money?

Fred reveals how regularly reviewing accounts receivable, deposits and refunds can help companies free up hard cash when they need it.
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