Ask a CFO- A weekly Q & A on corporate finance topics

Episode 26 | Ask a CFO | How can a CFO build deeper relationships with investors?Are you trying to raise capital from venture capitalists, foundations, or even family offices? In Episode 26 of #ASKaCFO, James Vanreusel of Vanreusel Ventures discusses building strong relationships with investors by learning how to offer them benefits unique to your business.You'll learn three strategies for building deeper connections with investors that lead to success in fundraising.Ready To Scale? But not ready to invest in CFO?One of our bespoke packages can help you.  One of our membership options may be able to help.  Learn more herePro Membership:This is ideal for those who want to do it themselves, but with a thinking partner by their side! Gain the hands-on training and access to our community that you need at this stage of your business. Enterprise Package: Perfect for companies who are on the edge of growth, and ready to take that next step but want someone to do the work for you.  Bring us on board as your interim CFO. We'll guide you through the planning & execution you'll need to guide your growth.  From modeling to M&A our expert team is ready to dive in.  

Looking for an outsourced accountant for your professional services firm?Russell Benaroya with Stride services can help, start here:https://stride.services/In need of someone to help calculate and file your employee retention credits?We can help connect with you one of our partners to do it for you.  Reach out and we can connect you.https://vanreuselventures.com/contact/Need CFO-level support and strategic advisory, but are not ready for an interim CFO?The CFO thinking partner may be able to help.  Learn more here:http://products.vanreuselventures.com/cfothinkingpartnerLinkedIn:https://www.linkedin.com/in/jamesvanreusel/Twitter:https://twitter.com/JamesVanreuselYoutube:https://youtube.com/playlist?list=PL7-6z47BPMnY9eJn0gCha6gv1WtquitMmWebsite: www.vanreuselventures.com

Looking for an outsourced accountant for your professional services firm?Russell Benaroya with Stride services can help, start here:https://stride.services/In need of someone to help with your tax planning. We can help connect with you one of our partners to do it for you.  Reach out and we can connect you.https://vanreuselventures.com/contact/Need CFO-level support and strategic advisory, but are not ready for an interim CFO?The CFO thinking partner may be able to help.  Learn more here:http://products.vanreuselventures.com/cfothinkingpartnerLinkedIn:https://www.linkedin.com/in/jamesvanreusel/Twitter:https://twitter.com/JamesVanreuselYoutube:https://youtube.com/playlist?list=PL7-6z47BPMnY9eJn0gCha6gv1WtquitMmWebsite: www.vanreuselventures.com

We now offer our CFO-level support and expert guidance in a monthly membership to fast-track your business goals, financial skills, and fundraising.Learn More HereEpisode 23 : In this episode Co-Founder of  Stride Services, Russell Benaroya was our special host.  He and James discussed the complexities of working with a “turnaround' company. A company that is in a turnaround transition has recently suffered a huge loss, had to cut costs and many times paused payroll to keep its doors open.  When you are an interim CFO coming into help a turnaround, working quickly and effectively is key to making quick and impactful changes.  The number one goal for an interim CFO working with companies like this is to keep the doors open, keep employees paid, and bring the company back to a break-even position.  The first thing to look at are always expenses.  You have to fully understand the business and the revenues and the “why” behind the cash flow and sales decrease.  Taking a close look at the expenses and asking your self ” what needs to happen to make this company profitable again,” is always the first step. If expenses have already been cut, you have to ask “was the cut deep enough?”When a company is in crisis, the first thing that needs to be watched carefully is cash flow.  Creating conservative sales numbers and a 13-week cash flow forecast is a great way to keep a handle on what to expect in the coming weeks.  In a turnaround, it is critical to get really exact, because every dollar counts, and is critical to get right.The ultimate goal is to building momentum, by fine-tuning processes and creating a plan. As an Interim CFO coming in with a vision and a plan as to what the company can look like in 12 months, getting the team realigned and rowing in the same direction again should always be the initial focus, and that can take a lot of work.  But eventually, it will build momentum and fine-tune processes so the plan can be solidified and people start getting excited because they are seeing the upside again. 

Learn the #1 Key to Creating a Thriving BusinessEpisode 22: How to Cut Administrative costs in your Start-Up The #AskaCFO series is a weekly Q & A with CFO James Vanreusel, CE and Founder of Vanreusel Ventures.  In this series James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and more.One of the most important things to remember when running a start up with limited resources, is that every expense is on the chopping block every month.  As we all know we live in the world of subscriptions and it is very easy to let them get out of control. If you want to keep expenses flat, to maximize profitability, you want to take some of the money from elsewhere, to invest in areas that are really going to help you as you scale. To do this, you need to go through your p&l, your chart of accounts, even all the all the operating expenses.   When costs are high and revenue is uncertain you should sit down each month, and look at every single expense and ask yourself three very important questions:1. Is this expense necessary to function as a business.2. Is it doing its job? Is it helping you grow?3. Can I get it cheaper?

E21: HOW CAN A FINANCE TEAM HELP A NON-PROFIT WHILE THEY ARE SCALING?Learn 5  Business Growth Strategies The #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and more.There's a reason large, successful companies maintain a full C-suite and Board of Directors. The varying perspectives and areas of expertise contributed by experienced individuals areinvaluable to strategic decision making.   Interim CFOs temporarily fill the gap in the executive team so that growing and scaling non profits can unleash the strengths of executive partnerships.  With structured leadership from a CFO and a full finance team, non-profits will gain a complete understanding of their financial position in turn gain confidence in their long term strategy.   Scaling a company like a Non-Profit takes lots of work, you need to have everything working very smoothly. Tracking expenses is key, which is not always easy, and will take time to set up. You will end up talking to a lot of committees which can be complex, from finance committees, to audit committees, and sometimes even the compensation committees, all reporting to the board.  As you scale, it becomes increasingly important to start doing more and more in house, so hiring an accountant and an analyst, and eventually a full time CFO, when you see government adoption of country replication when the amount of work from other countries exceeds the amount of hours an outsourced CFO has to work.P.S ASK A CFO was recently listed as #3 on the  "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.  

Ask a CFO Weekly Q & A SeriesLearn 5  Business Growth StrategiesEpisode 20: How can a CFO help a For Profit after a Series A or B round of funding?The #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and moreCFOs are a thinking partner to the CEO. I have said it multiple times. When you are dealing with fundraising of any kind, you must have support in your back pocket to assist with your financial functionality. Ideally, you want to start getting help from a CFO at least six months before your fundraising efforts, BUT most times, it's better late than never. Investors need complete visibility and 100% of the CEO's time. If you do not have your due diligence in order, your numbers straight, your finance team is working together as one....you will find yourself with friction that is strong enough to slow your growth momentum.  A CFO can help growing companies professionalize their financial structure in anticipation of explosive growth and fundraising (Series A or Series B). Many times at this stage, you may not be able to afford an entire finance team, but perhaps you have an accountant. That's great! But they cannot do it alone, and they do not replace a CFO. A CFO will ensure that your finance infrastructure is upgraded and ready for the hard questions that investors will ask. They focus on the behind-the-scenes strategy, help fix what is broken, and ensure that your financial processes are in top condition.  Raising your first round of funding is a pivotal point in your growing for-profit business, and you must have the expertise and mentorship available to you for optimized growth. A CFO and a Finance team will jump in and develop an advanced level of financial planning and reporting that will help you secure your future much faster as a team.  P.S ASK A CFO was recently listed as #3 on the  “Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)” Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.  

Ask a CFO Weekly Q & A SeriesLearn 5  Business Growth StrategiesEpisode 19: The First 90 days of a CFO during a new engagementThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and moreVanreusel Ventures helps young companies invest early in the financial infrastructure that will enable them to scale efficiently.Start-ups are scrappy. Rightfully so because that “whatever it takes” attitude is crucial to success. In this business stage, it is easy to overlook the importance of establishing internal financial discipline from the get-go. Or maybe it just seems impossible since hiring your own CFO is currently out of reach.Either way, when you don't prioritize financial discipline, you are limiting your growth potential.What if you could keep the start-up attitude but adopt the financial practices of a much larger, well-oiled company?What if you could bring in business without every new client or project wreaking havoc on your internal operations?We have developed a due diligence process to quickly assess how well a company sets itself up for future growth, so that we can make the most out of our first 90 days with you.  As soon as we engage with a new client, we move fast.  We take that assessment and use it to inform CEOs of any operational pitfalls and the best ways to address them. It will give you the financial awareness essential to launching growth effectively.We tackle the big rocks, the items that are holding back growth and focus hard on them.  Creating momentum is key.   P.S ASK A CFO was recently listed as #3 on the  "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.  

Learn 5  Business Growth StrategiesEpisode 18: CFO's are a thinking partner to a CFO–not an accountant.The #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and moreJust like in other parts of a business (Marketing, Sales, People Ops), each department has someone “in charge.” Someone asking the tough questions, making the hard decision, approving changes, and mitigating risks. When a finance department of a growing business doesn't have someone protecting the financial health of the company, the business will struggle to grow.  CFO's act as the head of the Finance and Accounting department. They will fully understand the principles of accounting and bookkeeping but are not accountants. The CFO is the one who focuses on the big picture items, the big deals, M & A, fraud risk management, fundraising, strategic hiring, audits, and more.  CFO's act as a thinking partner to the CEO, the head of the Finance department, a mentor to the team, quarterback and guardian. They will guide the finance team through the gears, keep a tight reign on all finance functions, move the company toward financial growth, and support the CEO through massive business decisions.An excellent accounting team is crucial but does not take the place of a CFO, and a CFO does not take the place of an accounting team.P.S ASK A CFO was recently listed as #3 on the  "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.   

Learn 5  Business Growth StrategiesOne of the big questions is how early on do you need a CFO?During the initial stages of a start-up, filling out the basic building blocks is the first step towards growth. A CFO helps with that. When we engage with a new client, one of the first things I like to do is an analysis to evaluate the gaps. Some of the most common questions I ask when engaging with a new client are: 1. Is there an accounting and bookkeeping team2. Are the books right? Is there tight reporting?2. How are the taxes?3. Is the team set up for growth?4. Do they need to hire or restructure?5. What about internal controls?6. Have they focused on preventing fraud?7. Are they prepared for audits?8. Is the annual budget set up?9. If a non-profit how is the board set up? The CFO acts as a quarterback for the internal functions and structure of the finance team.  All of this is to keep the company on a growth track, eliminate risks, and attract and keep investors and donors happy and excited about your business.A CFO should have a good ecosystem where they can plug and play the right vendors for the company they are working with --and fill the gaps. If a company needs an accounting team, it should be easy for a CFO to set up. The faster things get set up, and those gaps get filled, the sooner we can focus on the company growth model. That's the end goal! Vanreusel Ventures has a start-up stack, which is a list of preferred resources regularly engaged in helping support our clients and once again "fill the gaps." Many times we are involved before a company doing any fundraising--we get things ready to grow. We focus on building the company model to project out. Investors will not be interested in the books out of sorts or not producing the correct numbers. If data is missing, we will engage with an accountant to tighten that up and ensure accurate financials. If the internal structure and functionality are not perfect, we help restructure and create a plan there. Down to something as simple as policies, procedures, and handbooks. Whatever is needed to keep things moving.   Getting past the start-up phase can take 12-18 months and is really about building the right team, keeping the books in order, having forward-looking FP and A, an accurate working budget, and air-tight internal controls. Investors will require all of that.P.S ASK A CFO was recently listed as #3 on the  "Top 15 Corporate Finance Podcasts To Follow in 2021 (feedspot.com)" Thank you to feedspot.com for helping us make that happen, and to everyone who supported our show.  

Learn 5  Business Growth StrategiesIn Episode 15 of #ASKaCFO James Vanreusel of Vanreusel Ventures discusses his experience with the audit process for both for-profit and non-profit companies in the health and tech sectors.  Audits are complex and intricate.  At times, they can seem like a looming task, but the purpose of an audit is not to create extra work for your Finance Team.  Ultimately, in the end with a positive result, it can make your company more profitable, and attractive to investors and stakeholders.During an audit, part of my job as a CFO is to keep an open mind and maintain a close repour with auditors to ensure the process is completed smoothly without major issues.  I talk about due diligence a lot and for a reason.  The more prepared you are the better your audit will go.  Having your ducks in a row before an audit will save your finance team countless hours and is sure to minimize issues and potential flags. No audit is the same, and every audit firm has different requirements. You must be prepared for anything.The #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A, and more.  If you have any questions you would like James to discuss please submit them directly to james@vanreuselventures.com

Learn 5  Business Growth StrategiesCarta launched CartaX in January, its a network, an ecosystem that brings companies, with lots of employees stock options together with investors. It allows investors to come in and buy employee stock options in a structured way from the company. The benefit is investors have another way of gaining gaining gaining shares in the company, whilst providing liquidity to the employees. We chatted with Carta's Francessca Puccenilli on the Scale By Numbers Podcast about this, and how Carta and Carta X helps companies and employees together maximize their financial potential.

Learn 5  Business Growth StrategiesThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and moreIn Episode 14 of #ASKaCFO James Vanreusel of Vanreusel Ventures discusses Non-profit boards, their common issues, and what to do if one member is causing problems.  For small to midsized for-profit and non-profit organizations, having a board of directors is extremely imperative to ensure that the company is running at its optimal level.  Having a great board is like adding rocket fuel to your business, and allows a CEO to have access to mentors in multiple industries at your fingertips.  The board will think through the critical questions about growth and scale with you, help you resolve problems, help you raise funding, and open doors for you and your business.  Because the board is an arm of the organization, if it is not functioning properly the business will be affected.  In order to keep problems at a distance, you must be thoughtful when selecting board members, manage expectations,  and ensure that they come to a resolution of the issue as one.   If problems continue to arise, it may be time to reassess the members within the board.  Today, we've barely scratched the surfaceWhatever stage you're at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.If you're ready to build your financial muscle, how about a FREE copy of James Vanreusel's (highly-acclaimed) book for CEOs?The #1 Key to Creating a Thriving Business takes you through the challenges of growing and scaling your company, from first to last. And you can request your copy here – no hidden fees, no strings.TELL ME MORE

Learn 5  Business Growth StrategiesYou spend weeks  carefully planning out your  laser targeted metrics and Q1 is coming to a close, yet you know you're not going to reach your goals.   Going over budget can send a shock wave through the entire company. You have to explain the shortfall to stakeholders, the board, investors, and sometimes your employees.  It's a complete emotional drain.Q1 sets the tone and rhythm for the year. If you have missed the mark and veered off the course --all is not lost.   In this week's episode of Ask a CFO, I lay out how to get your budget back on track, make quick changes, and fix it before the end of Q2. Whatever stage you're at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.If you're ready to build your financial muscle, how about a FREE copy of The # 1 Key to Creating a Thriving Business.   Perfect for budget season.Get your Free Book

Learn 5  Business Growth StrategiesThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and moreIn Episode 12 of #ASKaCFO James Vanreusel of Vanreusel Ventures discusses the topic how a young non profit organization can begin their due diligence and begin to raise money. Due to the lack of resources, young non profits have not invested the time needed to create a strong team, and structured systems.  In any given year, we see a cash crunch, and a large amount disappears from the books. Most importantly, management misses the opportunity to demonstrate to key stakeholders – donors, implementing partners and government – what is the cost to achieve real impact.  Getting your ducks in a row before you attempt to raise funds  and investing the time and money in due diligence processes and will catapult your business past the obstacles of raising funds, and quickly move your company forward to the next stage. We have resources that can help:At Vanreusel Ventures, we have developed a due diligence process that helps us understand how well an organization is doing, how investable it is, and at the same time inform CEOs of our operational concerns. We have increasingly seen a correlation between dysfunctional governance and bad financial Performance.Our goal is to create a service that can persuade young organizations to invest early in the systems that will help them scale and compile evidence of the cost effectiveness of their interventions.  We have created a 3-month accelerator system that will launch you forward and past the obstacles holding you back from raising money fast. Scale by Numbers – Vanreusel Ventures

Learn the #1 Key to Creating a Thriving BusinessThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and moreIn Episode 11 of #ASKaCFO James Vanreusel of Vanreusel Ventures discusses the topic of employer covered benefits.If you are unsure about how to hire top talent we have a resource for you. The Complete Hiring Toolkit–a step by step system to identify and choose the best candidate for your company. Learn More Here

Learn the #1 Key to Creating a Thriving BusinessThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and moreIn Episode 10 of #ASKaCFO James Vanreusel of Vanreusel Ventures discusses the process companies should take when evaluating changing vendors.

Learn the #1 Key to Creating a Thriving Business

Learn the #1 Key to Creating a Thriving BusinessThe #AskaCFO series is a weekly Q & A with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and more. This weeks question is "What is most important KPI for the Finance Department?"

Learn the #1 Key to Creating a Thriving BusinessThe #AskaCFO series is a weekly q & a with CFO James Vanreusel.  James answers questions ranging from  corporate finance,  FP& A, Investor Relations, Professional Development, Business Growth, Fundraising, M& A and more. This weeks question is "What is the best finance or accounting tool for a transition from a small to medium size business?"Every start-up and growing CEO needs trusted resources at their fingertips.  When engaging a new client we perform a gaps exercise and put together an action plan as to how best to close those gaps. Where Vanreusel Ventures cannot fill those gaps, we rely on our partners to do it for us.  Here is a list of service providers, and software's that use at Vanreusel Ventures, and the Start-Up Stack we recommend to our clients when we onboard with them.View Vanreusel Ventures Startup Stack here

Learn the #1 Key to Creating a Thriving BusinessThe #AskaCFO series is a weekly q & a with CFO James Vanreusel.  This series allows CEOs and business owners to ask James questions that everyone in corporate finance wants to know.  This weeks question is "What the CEOs involvement should be in the month end close process."As a CEO you don't want to see all of the detail that accountants are working on.  BUT you do need to stay in touch with some of the details and sign off on them.  Having a direct involvement in the monthly close process continues your work to stay in touch with your numbers, focus on internal controls, insure accuracy, and can even prevent fraud.  The #1 Key to Creating a Thriving Business takes you through the challenges of growing and scaling your company, from first to last. And you can request your copy here – no hidden fees, no strings.Whatever stage you're at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.If you're ready to build your financial muscle, how about a FREE copy of James Vanreusel's (highly-acclaimed) book for CEOs?Get your Free Book

Learn the #1 Key to Creating a Thriving BusinessIn Episode 5 of #ASKaCFO James Vanreusel discusses more corporate finance questions focusing this week on non profit organizations. James is a corporate finance CFO for numerous small to midsized non profit organizations.  Although 2020 has been a challenge on these companies they are still about to do  very important work all around the world. Vanreusel Ventures specializes in assisting internationally scaling non profit organizations as a interim CFO. 

Learn the #1 Key to Creating a Thriving BusinessIn Episode 4 of #ASKaCFO James Vanreusel discusses more corporate finance questions. This week the subject is routine, and how to prepare for success every day, to increase productivity, project completion and task management. In order to have a successful day, a busy CEO must set strict guidelines for their daily routines.  This includes both personal, and business related goals.  

Learn the #1 Key to Creating a Thriving BusinessIn Episode 3 of #ASKaCFO James Vanreusel discusses more corporate finance questions.This week the subject is the role of a finance department.   James answers how the finance department can evaluate new business opportunities. Vanreusel Ventures supports and guides our clients through the audit process and everything that comes along with it: Prep, expectation and completion. Whether it is a companies first audit, or not everyone needs a strong finance team to guide them through it. As the CFO and Finance department for our clients we walk them through ever step and are guardians for them. 

Learn the #1 Key to Creating a Thriving BusinessIn Episode 2 of #ASKaCFO James Vanreusel discusses more corporate finance questions. This week the subject is Audits.  James answers how to prepare for an audit, what to expect and how it can positively affect your business. Vanreusel Ventures supports and guides our clients through the audit process and everything that comes along with it: Prep, expectation and completion. Whether it is a companies first audit, or not everyone needs a strong finance team to guide them through it. As the CFO and Finance department for our clients we walk them through ever step and are guardians for them. 

Learn the #1 Key to Creating a Thriving BusinessWhen we depending on how good the state of the financials are in, you know, it may take two to three weeks to get there. I would say during those two to three weeks, I would put a concerted effort on on really putting every expense on the chopping block, and seeing if it needs to go on on.As a CEO you must be in touch with your numbers enough to be able to  turn the ship quickly when a crisis is ahead of your company.   The  One thing you can control is how much you spend, what you can't control as much as how much income you have from sales. Many times that is where we come in.  When Vanreusel Venture works with a turnaround company, we have to take a deep dive into the backward looking financials in order to see the current situation ahead.