Finteam Business Consulting

06/12/2024

"Are we going to be okay?"

One of my clients asked me this question while talking about their financials. Sure, it sounds like a simple question, but it's inappropriate to answer without understanding a lot of data, numbers, and related factors.

Let's break finance-related things down into what matters to most business owners:

🤷‍♂️ "How is my business doing?"
🤓 "Is my bookkeeper doing a good job?"
💸 "Where's all my money going?"
💰 "Is my business ready to sell?"

Financial data, ratios, and forecasts give us massive amounts of information... but who cares if they don't clearly and directly answer those areas of concern?

We created a platform to answer each of these questions: ✨The Drake Check ✨.

If you aren’t sure where your business is at, if you're worried your business isn't reaching its full potential, or if you’re wondering if now’s a good time to sell your company, we created this for you. We translate your financial position into actionable insights.

We evaluate financial leverage 💳, operational leverage 🚚, profitability 📈, cash flow 💸, and your accounting processes & procedures 📊 to let you know how you rank in each category, where you need to focus, and how you can improve that area of your business.

And (for now) we're going to do it for free.

Drop us a note at [email protected] or check out our website to learn more.

If you aren’t sure where your business is at, if you’re curious how you can improve, or if you’re wondering if now’s a good time to sell your company, we created this for you.

05/08/2024

3 out of 4 people are unhappy with their job 😭

1 out of 2 people 💃 experience a lot of stress at their job

1 out of 2 people 🕺 are actively looking for a new job

70% of employees believe that changes need to be made to their company's culture or compensation structure 💵

I doubt this surprises any of you. I have only a handful of peers and friends who are NOT looking for a new job right now.

Given how high replacement costs are (50-60% of salary to replace them, but 90-200% in total losses to the company), this is not good. 📉

I'm not a big HR guy, but I want to see business flourish as it pertains to culture, compensation, and commitment to employees. So, instead of me rambling on about numbers, Sophia A. Poveda will be joining us to share how she helps businesses excel with their people. 😀

Monday, May 13th from 6:00 PM - 8:00 PM in Charlotte! Hope to see you there. Sign-up with the below link:

Using numbers, planning, and care to build and retain your dream team.

03/10/2024

Leverage, liquidity, and loans.

Workshop #2 is on the books. Link below for info.

https://www.eventbrite.com/e/debt-management-strategies-for-smart-borrowing-and-responsible-repayment-tickets-844829566977?utm_experiment=test_share_listing&aff=ebdsshios

02/23/2024

Forecasting techniques: ✅
Deep dive on the components of cash flow: ✅
Memes: ✅
Mediocre finance jokes: ✅

First FinTeam workshop was a success (and super fun)! 📈 Big thanks for everyone who came out. If you’re interested in a recording of the content, drop me a DM. 🫡

Next workshop is on the books! We’ll be talking about debt management, specifically the different types of debt, costs of debt, and when to use debt. 💸💰Link in comments.

02/14/2024

📊We are hosting a workshop next week in Charlotte, NC talking about all things cash flow (🧾managing cash flow, 🔭forecasting cash flow, and 📈improving cash flow).

Would love to see you all there!

Link for more information and registration (don’t worry, it’s free 😃): https://www.eventbrite.com/e/cash-flow-its-kind-of-a-big-deal-tickets-808257338457

01/30/2024

2023 was a year full of growth. It was chaotic, stressful, and hard, but WOW it was fun.

As I've spent time reflecting, I'm amazed at the doors that have opened, the people I've met, the businesses I've worked with, and my incredible friends and family.

🎒 Biggest Lesson: People are difficult, messy, and stressful, but they are the BEST parts of our businesses (yes, they are more important than my spreadsheets, budgets, or forecasts 🤓). As Brent Beshore wrote in his annual letter, "A focus on meaningful relationships is the only truly enduring competitive advantage" (link to annual letter: https://lnkd.in/d8ZDZmZy).

❓ Key Question I'm Asking Myself: What would I do if I knew I couldn't fail?

🔭 Focus (for clients) Heading Into 2024: Accelerating cash conversion cycles, expanding gross profit margins, and creating additional data points/frameworks surrounding employee compensation.

☝ Mission: Support small business owners and operators to improve cash flow, reduce reliance on debt, live generously, and have financial peace of mind.

🤔 Some Additional Things I'm Thinking About:
- To get others to buy in, you first have to buy in to others.
- There are no competitive advantages in being an “average” or “typical” company.
- Uncertainty is inherent in life. Are you trying to avoid it, eliminate it, or manage it?
- What does success mean to you? How would you define it?

For some specifics on how FinTeam Business Consulting's clients have performed during 2023, see below :)

05/29/2023

📣 Exciting Announcement! 🎉

We're thrilled to share that Jamie Reynolds, the founder of FinTeam Business Consulting, has decided to embark on a new chapter. Jamie has accepted a fantastic job offer as CFO with Universal Health Corporation. 🏥

FinTeam will continue its journey under new leadership. We're excited to announce that Drake Gens is acquiring the business and will be taking the helm as the new owner. Drake was Jamie’s first employee at FinTeam and helped clients navigate their finances in the midst of the COVID-19 pandemic. 🤝

Jamie's expertise and passion for the business won't go to waste. As part of this transition, Jamie will stay on board for the next 18 months as a business coach. His guidance and continued support will ensure a seamless transition during this exciting period. 🙌

We extend our warmest congratulations to Jamie on his new opportunity with Universal Health Corporation and we’d like to thank him for his commitment to FinTeam clients over the last 5 and a half years. 🎉

For existing clients, Drake will follow up shortly with next steps and follow ups. If you have any questions, don’t hesitate to reach out!

Stay tuned for more updates as we embark on this exciting journey together! 🚀

04/17/2023