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Core Future Growth Blog

Stacy Luft

Helping Entrepreneurs keep more of the money they make and increase their quality of life.
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Recent Posts

To Improve Cash Flow Management, You Must Have This

Posted by Stacy Luft on Tue, Apr 09, 2013


Tax time is usually the time when most small business owners think about their bookkeeping system. All year they have been collecting receipts in a drawer and it isn't until about a month before the tax accountant calls that they think... "Uh oh, I have to get my books in order so I can get my taxes done!" This is also the time of year when I'm asked to help someone set up a system for the bookkeeping and help them organize their work because they don't want to "go through this again next year".

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Topics: CFO For Hire, Cash Flow Statement, Small Business Consultant

Financial Consultant: I Will Not Write Your Business Plan For You

Posted by Stacy Luft on Thu, Sep 20, 2012

On occasion I’m asked whether or not I’ll help someone write a business plan.  I am often left feeling like I should say yes, and needing to defend my answer of “no”. For a long time I have focused on how much it would cost the small business owner to have me do it for them. In my opinion, when you are first starting your business, you need to reserve as much cash as possible. It will take at least twice the amount of money and time as you think it will take to get started and you will need the cash to keep a roof over your head. By the way, STOP spending $5,000 on a website before you even get started! Start with a basic stock site and upgrade to a more sophisticated site later when you are making money. But I digress…

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Topics: Financial Planning, Financial Consultants, Small Business Consultant

Changing Bookkeeping Services Like You Change Your Underwear?

Posted by Stacy Luft on Tue, Jul 31, 2012

I’ve changed bookkeepers five times in the last three years. I just can’t seem to get what I need. Bookkeepers are all the same.  I hired a new bookkeeper last month, and all he’s done for the last month is push papers and dig in the filing cabinets. I had to stop what I was doing to tell him to stop. I said “Just leave that. Putting all that paper in order is a waste of time. I hired you to fix my money problems, not file papers.”
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Topics: Financial Planning, CFO For Hire, Bookkeeping Services

Financial Consultants: Bookkeeping vs. Accounting: Why You Should Care

Posted by Stacy Luft on Tue, May 15, 2012

What is the difference between bookkeeping and accounting and why should I care?

What is Bookkeeping?
  •  Bookkeeping is the recording of daily transactions that follow a defined process in a cyclical manner. Bookkeeping is broken down into parts such as Accounts Payable, Accounts Receivable and Payroll. Think of bookkeeping as the foundation of your financial data.
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Topics: Financial Planning, CFO For Hire, Financial Consultants

Cash Flow Statement: What Is Its Purpose?

Posted by Stacy Luft on Tue, Jan 17, 2012

Before we discuss the purpose of a cash flow statement, let’s first discuss what it is. The three sections of the cash flow statement are operating, investing and financing. There are two methods to use when preparing your cash flow statement, the direct method and the indirect method.

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Topics: Cash Flow Management, Cash Flow Activities, Cash Flow Statement

3 Major Cash Flow Activities

Posted by Stacy Luft on Thu, Jan 05, 2012

There are three major cash flow activities in each business. These consist of Operating, Financing and Investing. You’ve heard these terms before, but you’re not clear about how they appear in your small business. After all, you don’t have investments and you’re running your business with credit cards and a small line of credit.

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Topics: Small Business Finances, Cash Flow Management, Cash Flow Activities

7 Cash Flow Management Mistakes To Avoid

Posted by Stacy Luft on Thu, Dec 29, 2011

Working with small businesses for the last 20 years has brought with it some very interesting experiences. One of the most common experiences is the cash flow management mistakes that business owners make. You might think that only the inexperienced business owner have these near death experiences with their companies, but I have worked with some very experienced, very savvy business owners who have made these very same mistakes.

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Topics: Small Business Finances, Financial Planning, Cash Flow Management

CFO For Hire: Please Turn Down The "Financial Noise"!

Posted by Stacy Luft on Thu, Dec 01, 2011

I’ve been thinking about all the noise and distractions we have in our lives and I have begun to question how much do we REALLY need? One thing I did for myself was to cancel a few magazine subscriptions that I never make the time to read. I say “make” the time, because if I was truly interested in the content, I’d make the time. (I read a good portion of my day, every day). I then started to wonder how I could apply the concept of eliminating noise from my business, when I realized that in the capacity of a CFO For Hire, it’s what I do naturally for my clients.

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Topics: Small Business Finances, Financial Planning, CFO For Hire

Financial Review: Are We There Yet?

Posted by Stacy Luft on Tue, Nov 29, 2011

I read a post recently on my friend Jean Summit-Riker’s blog titled "Lighten Your Journey with Laughter" where she has this great image of Mother and Baby turtle. The baby turtle is saying to its mother “Are we there yet? Are we there yet?” The statement “Are we there yet?” reminded me of so many business owners I’ve known over the years, particularly when on the eve of a large project. But I've found that doing a financial review throughout the project can help put your mind at ease.

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Topics: Small Business Finances, Financial Planning, Financial Review

Cash Flow Management: Slow Accounts Receivables Woes?

Posted by Stacy Luft on Thu, Nov 24, 2011

My friend Susan Baylis at Medical Account Solutions lays out some important points of lost profits in medical office billing processes in her blog “Maximize your medical receivable with a few simple steps”. It’s important in all types businesses to have solid processes in place for billing as well as collecting. Part of cash flow management is having proper training and support in place so that the staff can be successful in protecting precious profits for your business.

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Topics: Small Business Finances, Financial Planning, Cash Flow Management