As we approach the New Year and the economic rebound – we need to take a close look at our past, current and long term operations.

1     Arrange to upgrade your key employees through education, cross training, performance reviews, mentoring and internal promotions.

2     Develop additional depth in leadership using your key employees.

3     Develop realistic performance expectations, for key positions, before you are required to fill an open position.

4     Insure that your job interviewers have sufficient training, and know how, to address performance management issues, before interviewing new candidates.

5     Insure that your employee benefits are up to industry standards and the levels that you can afford and justify.

6     Bring your policies and procedures books and manuals up to speed on current processes and current thinking.

7     Build your strategic influence network of contacts – including your Accountant, Attorney, Advisors, Technology People and Investors.

8     Insure that you have your supply chain in place, and phase out and replace any vendors that may not be meeting your expectations.

9     Pick up on upgrading customer service and customer satisfaction.

10    Insure that you have your 2010 budget, forecast, and strategic plan in place, now.

 Companies that can ramp up operations, to meet upcoming requirements, will be the companies that survive best in the post recession times.

Ask us for help – this is what we do.

Visit our website www.desmidtconsulting.com

Thank you,

Peter DeSmidt,

1          Establish policies and procedures before you require them; determine what is needed, get input from your key employees, your accountant, and your professional advisors and consultants.  Communicate, review and revise policies and procedures on a regular basis.

2          Define your ideal client – what business is your ideal client in, where are they located, what is their position and role in the organization, what type of person are they, what the problems they want solved are and what is their current situation.

3          Prepare your budget for the new year – start by coming up with a realistic sales revenue target, estimate your cost of goods sold – both percent and dollar amount, forecast fixed expenses and variable expenses, by line item, based upon past history and future anticipation, break the annual budget into quarters and months and input it into your accounting system.

4          Plan for better cash flow – have a budget and a forecast, the forecast is an ongoing revisable tool, keep an eye on and control all spending, push for earlier customer payments, keep inventories to the minimum, consider going without a salary, or deferring payment, to maintain a positive cash flow, add employees cautiously, consider leasing rather than purchasing and sell unnecessary assets.

5          Keep current with employee performance reviews – strive for consistency and fairness, encourage employees to evaluate themselves, be honest and straight forward about poor performance, follow up on performance reviews and always document this communication.

6          Focus on customer service – make a commitment to great customer service, get to know your customers better, make sure that your employees know that effective – efficient customer help is the standard, know your product completely, keep your promises, thank customers for their referrals, don’t lose the personal human touch  and protect your existing customer and client base.

7          Strengthen your vendor relationships – consider your vendors as a part of your team, show appreciation for their good customer service, pay on time – and if you can’t then communicate and work with your vendors.

8          Focus on building business, especially in these down times – install or beef up your customer referral programs, get to know all of your customers and know what they purchase, multi task your marketing campaigns and tie in your promotions to the timing of customer requirements.

9          Learn more about your current financial statements, including the statement ratios, inventory turnover, days’ sales outstanding, and the solvency ratios. 

10       Consider hiring a business consultant – the answer to your problem and issue may not be obvious, the problem that needs fixing most is not your specialty, the consultant can bring a wealth of expertise, experience and information and the consultant can focus without taking time from your daily workload and tasks.

Ask us for help – this is what we do.

Peter DeSmidt

www.desmidtconsulting.com

Your small and medium-sized company is often not in a position to hire a full-time bookkeeper or an accountant.  Your company would benefit the most from the expertise of an experienced Accountant or Controller.

We let your bookkeeper do their work and perform their duties, using QuickBooks Online or QuickBooks Pro or Peachtree or ePeachtree then we perform the Accounting and Controller duties.  We can take responsibility for the financial side of your business, or we can function purely as your part-time Accountant and Controller, managing your existing accounting and bookkeeping staff. Every business and situation is different.  We can work with your accounting and bookkeeping staff, attorneys, bankers, insurance brokers and tax preparers at a fraction of the cost of a full time employee.  We are seasoned professionals and have the experience, expertise, education and qualifications to be your virtual / on-going Accountant or Controller.

As you may be aware, one third of new small businesses fail in the first two years and one half fail within four years.  Poor financial management is the main reason most small businesses become failures. Often business owners want to maintain complete control of their business or they are afraid that outsourcing the bookkeeping and accounting functions would be too expensive, or both.

You need to realize that outsourcing the bookkeeping and accounting functions can save you both time and money. This will also allow you to focus more on your business, and would give your small business a better chance at survival.

The Benefits of Outsourcing Your Bookkeeping and Accounting using QuickBooks or Peachtree include:

            Lowering your costs and increasing the quality of your staff.

            Reducing your overhead, headaches and worries.

            Allowing you to focus on what you do best – managing your company.

            Saving your company time and effort.

            Adding a wealth of knowledge and experience.

            Allowing you to gain access to extensive additional capabilities and specialized services.

            Building a more efficient bookkeeping staff.

            Allowing you to take advantage of the latest technology.

You, or your staff, can perform payroll, billing, invoicing, collecting, payments, accounts payable, accounts receivable, bank transactions, bank reconciliations, inventory control, etc.

We can then perform, all or in part:

*Monthly Accounting and Controller Services

*Accounts Payable and Receivable Management

*Financial Statement Preparation

*Cash Flow Analysis and Management

*Fixed Assets Reporting

*Bank Reconciliations

*Tax Return Preparation

*Variance Analysis and Reporting

*Revenue and Expense Analysis

*Staff Training and Utilization

*Business Consulting and Guidance

*Accounting Systems and Controls

*Financial Analysis and Reporting

*Budget Preparation and Reporting

*Financial Forecasting and Modeling

*Software Training and Support

*Preparation of Policies and Procedures

We utilize QuickBooks Online, Basic and Plus, QuickBooks Pro, QuickBooks hosting options, e Peachtree, Peachtree Web and other remote access technology tools.  We can help you decide on the best solution – even if you currently have the software.

We are located in Tampa, FL and have over 40 years of Accounting, Management and Systems experience.  Contact us for a free, no obligation, and initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

 Ask us for help, this is what we do.

Visit our website at http://www.desmidtconsulting.com

Thank you,

Peter DeSmidt,

Why outsource your Controller and CFO services?

Small and medium-sized companies that are not in a position to hire a full-time Controller or CFO are often the companies that would benefit the most from the expertise of an experienced Controller or CFO.

We can take complete responsibility for the financial side of your business, or we can function purely as your part-time Controller or CFO, managing your existing accounting and bookkeeping staff.  Every business and situation is different.

We can work with your accounting and bookkeeping staff, attorneys, bankers, insurance brokers and tax preparers at a fraction of the cost of a full time employee.

Outsourcing will reduce and control your internal operating costs, allow you to gain access to extensive additional capabilities, and allow you to focus on managing your business.

We are seasoned professionals and have the experience, expertise, education and qualifications to be your virtual / on-going Controller or CFO.

The types of services that we can provide include:

• Monthly Accounting and Controller Services
• Accounts Payable and Receivable Management
• Financial Statement Preparation
• Cash Flow Analysis and Management
• Inventory Management and Control
• Fixed Assets Reporting
• Bank Reconciliations
• Tax Return Preparation
• Payroll Tax Compliance
• Variance Analysis and Reporting
• Activity Based and Job Costing
• Revenue and Expense Analysis
• Staff Training and Utilization
• Business Consulting and Guidance
• Accounting Systems and Controls
• Financial Analysis and Reporting
• Risk Management and Controls
• Strategic Planning and Consulting
• Cost / Revenue Benefit Analysis
• Budget Preparation and Reporting
• Financial Forecasting and Modeling
• Treasury / Cash Management
• Negotiations for Financing and Operations
• Reorganizations, Mergers and Acquisitions
• Develop and Analyze Business Plans
• Software Selection and Implementation
• Software Training and Support
• Preparation of Policies and Procedures

We are headquartered in the Tampa Bay area; the majority of our work is handled remotely, yet, we are able to talk and work with you on a periodic basis.

We have over 40 years of Accounting, Management and Systems experience.  Contact us for a free initial telephone consultation to discuss the immediate and long term benefits that we can offer you.

Visit our website at http://www.desmidtconsulting.com

Thank you,