September 2009 Meeting – Finding Opportunities in Your Financials
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The September meeting, introduced by Wendy Goldstein and moderated by Andrea Nameche, focused on how to use your financial records and how best to keep your company financially fit. The panel was comprised of:
- Bruce Berry – Whalen CPA
- Michelle Roseberry - Norman Jones Enlow
- Lynnette Zody – Focus CFO
The panelists encouraged all businesses, regardless of their size or time in business, to always have an up to date business plan, not only to ensure their company is organized, but to use when trying to ascertain funding.
They spoke a great deal about the importance of understanding and regularly inspecting your company’s financial records, highlighting that the four most important records were: financial statements, receivables, cash flow, and profit & loss statements.
The panel also encouraged companies of all sizes to hire a financial manager, either external or internal. Whether it be a CFO, an accountant, or even just a part-time bookkeeper, the benefits would be large and it would save you as the business owner time and stress by letting a professional handle it. Don’t know where to look for a CPA or bookkeeper? Check out the NAWBO membership directory!
A helpful book was also mentioned: Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers by Karen Berman & Joe Knight.
