Ben McAdam is a Virtual Chief Financial Officer (VCFO) who helps entrepreneurs improve their profitability by better understanding their numbers
Ben’s Ideal client
Ben’s ideal client is an entrepreneur doing high 6 to 7 figures a year.
Most common challenges
Owner of a business not achieving margins which allow for them to pay themselves
Not knowing the difference between profit and cash
Not analysing the reports to improve the profit of the business
Break revenue into new and existing clients. Look to increase revenue by increasing prices, giving more offers and reducing costs
To increase cash improve your accounts receivables. Look to be paid earlier through offering discounts 1-3%. Look to have 100% or 50% paid upfront. Move to recurring revenue models and away from invoicing
Compare prior periods and create ratios to benchmark important ratios.
Profit and cash flow are the same thing
I have my bookkeeper and tax accountant and no one else can help
There’s too much maths involved and it is confusing