Meet the NEWCASTLE CFOs
Think of us as your Financial Co-Pilot, taking responsibility for your business numbers and financial challenges, so you can drive your business and make money.
If you want to grow your business but are struggling with profit and cash flow, I can help. I’ve worked with clients to help them get the fundamentals correct, ensuring their business is sustainable and prepared for taking their business to the next level. What are some of the fundamentals?
– Understanding the true cost of your product or service is vital to ensure a good profit margin.
– Controlling variable costs and overhead costs to keep profits on track.
– Managing cash flow to utilise the peaks and survive the troughs in the cash flow cycle.
– Ensuring that financial reporting is not only accurate, but provides the information relevant to the successful operation of the business.
– Proper planning including meaningful budgeting and long-term strategic planning.
These are examples of a couple of businesses I’ve helped in the past to achieve great outcomes:
Health Care Call Centre After 5 years of operation, the business had only managed to achieve a breakeven result.
The key issues I identified and addressed:
– Pricing – created an accurate pricing model, which protected the business when it grew substantially.
– Contracts – helped negotiate and win a large contract with fair pricing and reasonable clauses.
– Operational KPIs – introduced daily reporting to ensure ‘variable costs’ were managed.
Costs – Implemented precise budgeting and authorisation controls. As a result revenue increased from $35m to $70m in two years and profit increased to 9% of revenue.
EFTPOS Equipment Supplier, The business was growing rapidly across the Asia Pacific Region and struggling to manage the growth.
The key issues I identified and addressed:
– Cost Structure – analysed the costs and implemented controls, which protected the business as it expanded into new countries.
– Pricing – introduced a model that was accurate and easily transferrable to new markets.
– Debtors – implemented strict credit control and collection procedures.
– Stock – ensured procurement was controlled in line with known requirements.
– As a result savings of $350k p.a. were identified and the business managed to maintain an annual growth rate of 25% pa. without requiring additional borrowings.
If you have an aspiration to grow your business and would like to discuss your goals and plans, I would love to hear from you.
Discover the Power of an Hour with Andrew Free
We have an understanding of our business like never before! We now have accurate Key Performance Indicators (KPIs) which means we can make informed business decisions and grow the company profitably at every turn.
Warwick Glendenning, CEO
Power Systems Consultants Group
If you are working frantically in your business, it really doesn’t matter how busy you are – it is crucial to take the time to work on your business to ensure that all the effort is worthwhile. Our CFO On-Call is invaluable in guiding and supporting us around financial hazards.
Lesley, Peter & Joshua Turner, Directors
I can’t speak highly enough of John and CFO On-Call. I would recommend them to any business owner because we don’t know about this stuff. We don’t have the time to do an accounting degree, but we need someone to guide us. I’m now living the dream – running the business remotely! The internet has freed me up to work remotely. Everything is in the cloud now and CFO On-Call plays a big part as my Virtual CFO!
Michael Brewitt, Director
Velocity Electrical, Construction
We now have the useful financial information we need to make informed financial and business decisions at the right time. His input has led to a 27% improvement in profitability.
Greg Jacques, General Manager
My CFO On-Call Michael came in and implemented a range of new systems and reports that we still use today. I now have a P&L which I can read and actually understand! Michael’s great at putting things into layman’s terms and helping us make sense of complex concepts. And his value doesn’t just stop at numbers – due to his commercial background he has also been a great asset to us in terms of recruitment and managing staff.
Jenny March, Owner
Before engaging CFO On-Call, the bank wouldn’t support me, so debtor financing was my only option. CFO On-Call set up our new management reporting and forecasting, and the bank changed their mind. Since then, we have grown total revenue by 17%, increased gross margins from 17% to 37% and improved debtor days by 36%. We’re going from strength to strength!
Peter Deverall, CEO
Safa Glass, Brisbane