Identifying Your Financial Health: A Guide for Medical Spa Owners
Managing a successful medical spa requires more than providing excellent services; it also involves tracking your financial health.
Category: CFO Consulting
Med Spa Owners: Track These 4 Essential KPIs for a Thriving Practice
Intro In today’s competitive med spa industry, staying ahead means monitoring Key Performance Indicators (KPIs). These 4 Essential KPIs give you insights into your operations and guide strategic decisions to improve your practice and become a top-performing med spa. For instance, top-performing med spas in 2022 earned 4.5 times more revenue than the industry average, Read more about Med Spa Owners: Track These 4 Essential KPIs for a Thriving Practice[…]
Uncover Your Business Niche
In the vast business landscape, identifying a profitable and distinctive niche for your business is crucial to success. Building a business around a specific niche allows you to target an audience, stand out from the competition, and create a loyal customer base. In this blog post, we will delve into the concept of a business Read more about Uncover Your Business Niche[…]
Financial Metrics Every Small Business CFO Should Track
As a small business CFO, your role goes far beyond just managing the numbers. You are a strategic partner, responsible for steering the financial health and success of your company. To effectively fulfill this role, it is crucial to identify and track key financial metrics that provide insights into your business’s performance. In this blog Read more about Financial Metrics Every Small Business CFO Should Track[…]
7 Tips on How to Adjust for Inflation
Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and profits are shrinking. Here are seven tips on how to adjust for inflation. It’s undoubtedly challenging, but you can adjust for inflation by following these tips. 1. Study Read more about 7 Tips on How to Adjust for Inflation[…]
What is a fractional CFO?
A fractional CFO (Chief Financial Officer) is a finance professional who works on a part-time, retainer, or contract basis. They bring the experience and expertise of a high-level CFO to your business without the cost of hiring a full-time, in-house employee. Fractional CFOs can service several clients at once. Because their financial management skills are Read more about What is a fractional CFO?[…]
Setting business financial goals for 2023
Companies tend to progress more consistently if the owner sets business financial goals and makes a plan to achieve them. The new year is a natural time to decide what you want to achieve and how. With that in mind, read on to learn the steps for setting financial goals for your business for 2023. Read more about Setting business financial goals for 2023[…]
How “Virtual CFO” Services Can Help You Grow Your Business
Every small business can benefit from the dedicated financial management expertise that comes with having a CFO. However, very few small businesses have the means to hire someone full time for this role, particularly in the lean early years. Often, it’s the first few years when a company is starting up that establishing good habits Read more about How “Virtual CFO” Services Can Help You Grow Your Business[…]
5 Signs You Need an Outsourced CFO
The 5 signs you need an outsourced CFO. When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. As Read more about 5 Signs You Need an Outsourced CFO[…]
Small Business Cash Management Insights
Your business needs cash. Cash is what keeps your company in operation and enables it to grow. Therefore, it is important to know how much cash your business needs to survive. Although many people think the answer is linked solely to operating expenses, this isn’t the case. That’s why I thought it might be helpful Read more about Small Business Cash Management Insights[…]