Optimizing Your Food Business Finances with Christine Rico
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Meet Christine Rico
Christine Rico has over 25 years of experience in business development and financial management. As the founder of CFO on Speed Dial, Christine works with mission-driven entrepreneurs in the food business to extract meaningful and actionable information from their financial reports, identify specific financial goals, and create profit plans to optimize their bottom line.
Episode Highlights
During this episode of The Food Means Business Podcast, we discuss:
How to organize financial information to inform business decisions, not just taxes
The importance of setting financial goals and profit targets that reflect your vision
How to create a profit plan that can help you grow and scale your business
Practical tools for estimating taxes
How profits can inform both your bottom line and social impact
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All right,
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Christine, welcome to the Food Means
Business podcast.
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Oh, I'm so happy to be here.
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Yeah. Thank you for being here.
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I would love for you to.
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Just before we jump into,
you know, CFO on Speed Dial,
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your company, give us a little bit of
background on you and how you kind of left
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the corporate world or working world
to launch your own business.
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Yeah.
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So I started out as a
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what would probably be called
a mom preneur,
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which is to say that I had a full time job
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where I was working
for a national nonprofit
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that was focused on the quality of jobs
in home care and I worked with a network
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of worker owned home care businesses
on business growth and development.
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But I was based in the Bronx and traveling
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nationally,
and I had two small kids at home.
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And one day, my son, who was just in
first grade or kindergarten,
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I forget, which was throwing up on his way
to the after school program.
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And they called me and I'm like, I'm
an hour a way, should I come now?
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And the answer was absolutely yes.
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So I had quit that job and stayed home
for a year, and everybody in
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my family was like, We don't really
want you to go back to work full time.
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And I was like,
I have to do something with my brain.
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So I started consulting,
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and that's
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eventually, as my children grew,
I became more independent.
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I got to actually turn
my little consulting projects
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into a business
that is now CFO on Speed Dial.
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That's great.
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How did you come up with the name?
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It was actually through a conversation
I had with a client,
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so I was working with this wonderful
woman, Beth Linsky,
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who had been creating jams
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in the Hudson Valley for many years.
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Three years.
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She was one of the original selling
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at the growing NYC Green Markets,
and she wanted to sell her business
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and I was helping her position
the business for sale.
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And it actually took a lot longer
than we thought.
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So here we are two or three years later,
and I was still working with her
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and I said, Well,
why do you keep paying me?
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Well, why are we still doing this?
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And she said, Well, it's
not just about the sale of the company.
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I know when something goes wrong
in my business, I can just call you up
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and talk to you about it
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and you'll help me out
because you know my business so well.
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And it's true.
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I had helped her
with all kinds of bookkeeping
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and accounting and billing
and all kinds of issues in her business,
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not just the sale of the business.
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And so that was
when I came up with this idea,
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Oh, yeah, I'm the CFO on speed dial
because you can just call me.
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And that's basically how it works.
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Great.
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So tell us about the CFO on Speed Dial.
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What do you do?
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How do you work with entrepreneurs
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and what types of entrepreneurs
do you work with?
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So we are a virtual CFO company,
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which means that we provide
financial strategy work.
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So we go beyond the day to day
bookkeeping.
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We can do that if you need it.
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But most of what we like to work on
is making sure that the decisions
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that people are making about
how to grow their business, how
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to maintain their business, are based
on a solid understanding of real numbers
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and a kind of very strategic plan about
where they want to go with their business.
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So is it?
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Yeah, sometimes
you have to just make decisions day to day
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and know like what's going to happen
next week or in two weeks.
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And that's something that
a lot of businesses that are caught in
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the recession have to face when they have,
you know, big cash problems.
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But a much stronger place to be
and is to be making decisions
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about your business with,
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you know, the foresight of where you want
your business to be in two years
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or five years or ten years.
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You know,
do you want to sell your company?
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Do you want to sell in new regions?
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Do you want to get big enough
to have national scale distribution?
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Like what's important to you?
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And as for types of companies,
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most of our businesses are led by women,
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and all of them
have some form of social impact.
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I love working with food companies.
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I find food businesses really
convivial and interesting.
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Plus, I like good food and
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but we've also worked with various kinds
of consulting businesses
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that are working around zero waste or
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green tech, and also with companies
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that are doing solar installations
or other kinds of
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things that would alleviate
climate change.
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So climate,
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social justice
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and food are kind of the things
that are most likely
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to show up in our client base.
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So do you work with startups
and established businesses?
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Can you talk a little bit
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about the types of your target
audience who you be looking towards?
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Sure.
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So for our kind of full service
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virtual CFO work,
the companies we work with are larger.
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They tend to be a million
in revenue or close to it,
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up to 10 million in revenue.
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I think for most companies,
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once you get to 10 million,
you should have your own CFO part times
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you know, might not count it anymore,
although we're really good.
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And for smaller companies,
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there's a couple of ways to work with us.
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One is what we call
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fast action projects,
which are short term projects
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where we would work with you
for 8 to 10 weeks to polish up
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Some projections work if you're going
to be approaching investors
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to work on, you know,
analysis of different business units,
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which you in pricing, things like that,
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they're usually fairly
constrained project.
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They have a really clear deliverable
and a really clear outcome
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outcome for the business.
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And the other thing that we offer is
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a series of courses
and or ongoing kind of community
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consultation so that you don't have to pay
for one on one services.
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You can get access to a CFO through
either.
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Our courses are a good program.
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We've worked
together on one of your group programs,
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which I really appreciate because
I got to know my numbers really well.
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So you can
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you talk a lot about knowing your numbers
and what are meaningful numbers?
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Meaningful numbers.
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Number one, they have to mean something
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to you.
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And I'm not really joking when I say that.
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The first day you have to be up to date.
They should be current.
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You should know, like this week
what happened in your business.
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They have to be
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designed and and recorded
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in such a way that they make sense
to you and your business.
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So yeah, one of my pet peeves
is, you know, books
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that are set up with only the idea
of producing a tax report at the end
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and not like managing the business month
to month or week to week.
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So we work really closely
with business owners
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to make sure that the Chart of Accounts,
which is kind of the backbone
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of your financial reporting, is designed
to give you information that you can use.
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So all the same kinds of expenses
occur together
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instead of randomly in alphabetical order,
things like that.
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So the the definition of meaningful
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numbers are is that they're current,
they're up to date, they're
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accurate, and they're put together
in a way
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that give you information
you need to run your business.
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So I can speak from experience.
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It's sometimes like, you know,
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working with the numbers
can seem overwhelming at times.
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And I know that you've come up with
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what you call a one page plan
to help business owners.
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So if you could do kind of like let's walk
through what
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it would look like for someone
to create a one page plan.
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And from what I can see, it's like simple
and straightforward and something
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that, you know, someone can use
in their business on a day to day basis.
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So what's the first step in
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in creating this plan
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and why create the plan?
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First of all, the why create this plan?
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So, you know, as I talked about,
finance strategy
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is about having a goal
that you're shooting for.
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And so having a one page plan
gives you a connection
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between your financial reports
or your budget and that goal
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so that you can create a path to get
where you want to go and that you can,
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by looking at your numbers,
understand where you are on that path.
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So a one page
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plan is
a summary view of your ideal month.
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Financially,
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it helps you to establish goals
for each product or service that you offer
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so you would know what your sales target,
how much, what your pricing should be,
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what your revenue should be, and then what
are the cost side of the business,
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the expenses that you need to cover
as your business grows.
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And it also takes into account
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any of the cash needs that don't show up
on your profit and loss or on your budget.
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Things like paying down debt,
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paying your taxes,
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sometimes taking your own pay.
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So there's a lot of cash
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needs in a business that might not show up
in a more traditional
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budget form that we try
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to put upfront in the one page plan.
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And hopefully by having this plan,
it will give you
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rules of thumb or benchmarks.
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So when you're
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looking at your financial report,
you can say, I’m not where I need to be,
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what do I need to do
to make that next month better?
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And also give you some confidence
that like if you're looking at something
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and it shows and it looks off,
you don't think that it's your mistake.
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You understand that there's
something going on in your business
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either something that
was missed in the bookkeeping
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or something that
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you want to change
about how you're operating.
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But you know, I always say
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that confusion is a form of information.
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And if you see something in your numbers
and it doesn't seem right,
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you have to ask questions
because that's the only way.
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Either you learn or you'll figure out
that there's something wrong
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that needs to get addressed.
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So I have here,
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like I guess the foundation is to
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to, to declare your top financial goals.
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So you talk a lot
about what goals could look like, but also
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how many goals should we be,
should we put together or is there
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is there a limit
to what we should be looking at?
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Yeah, I actually think
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you should have one primary financial
goal that you're focused on
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at any one time.
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It could be a year, a one year goal,
it could be a five year goal.
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But there should be like a Northstar
that you're really focusing on
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because if you focus on too many things
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and it's not focus, it's distraction.
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Sometimes you need to do two, maybe three.
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But if you have more than three top goals,
then you haven't prioritized
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what's really important.
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So you have to stop and think about why
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that's important and keep asking the
why questions about each of those
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until you identify
what really is the leading priority.
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So, you know, we start with a list of
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four or five or six or seven
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possible goals and they're all valid.
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And it's you have to kind of
and I only offer
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those as like a way to think about
what might be your top goal.
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You might come up with something
completely different.
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But there are things like,
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you know, you could have your top goal
as improving profit.
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You just want to be more profitable
next year, or it could be increasing
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your own pay, or it could be,
you know, building your company valuation.
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As you prepare to sell your business,
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it can be really specific,
very focused goals, or they could be
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broader goals that are going to take you
a couple of years to get to.
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But it's important to have an anchor
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in that goal
that best reflects your vision.
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And I also it's not on the one page
plan specifically,
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but I also really tend to ask people
when I work with them,
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what's the social impact goal
that goes along with that?
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Because that's
what's really your motivating factor
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in building your business right?
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So what what is the change you're seeking?
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What is it you want to do
and how do you know if you're able
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to be both profitable
and of social impact?
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Because those are the things
that you need.
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Both of those things
to be true to kind of keep going.
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So what are what's the first step
in creating this plan?
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So the first step is to gather
all the information.
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As I said,
we're going to talk about in the one
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page plan, we're going to look at revenue
and sales.
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You're going to look at cost of goods.
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You're going to look at monthly
operating expenses.
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You're going to look at taxes.
You're going to look at your profit plan.
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So the first thing to do
is to prepare the information.
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The answers to the questions
are relatively simple and straightforward,
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but only if you have something
to base them on, right?
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So for your
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revenue and your sales forecast,
you want to know your list
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of your products and services
and the price of each of them.
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That should be relatively easy to come up
with.
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One way to do
that is to look at your historical data,
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to say, okay, over the last 12 months
or over the last quarter,
00;13;46;07 - 00;13;51;05
now how many did I sell and then come up
with what you think the monthly average is
00;13;51;05 - 00;13;55;04
or should be, You might take last year
and add something to it.
00;13;55;10 - 00;13;56;21
You might take last year and subtract
00;13;56;21 - 00;14;00;02
something from it depending on
what is trending in your business.
00;14;01;00 - 00;14;03;08
So the next one you've figured out
00;14;03;08 - 00;14;05;26
your revenue goals you want to talk about.
00;14;06;08 - 00;14;10;28
You want to develop the information
about the total cost
00;14;11;15 - 00;14;15;18
to produce or deliver one
unit of each product or service.
00;14;16;01 - 00;14;18;10
This might be the most complicated of
00;14;18;28 - 00;14;21;00
any of the things
that we asked you to estimate.
00;14;21;17 - 00;14;26;00
So if you're selling products,
if you have five different products,
00;14;26;00 - 00;14;30;13
you want to know the specific costs
of each of those products
00;14;31;16 - 00;14;33;13
and you want to add it up
00;14;33;26 - 00;14;36;01
so that you can have the
00;14;36;18 - 00;14;39;09
the unit cost one unit of each product.
00;14;39;09 - 00;14;40;29
What does it cost you to
00;14;40;29 - 00;14;44;08
deliver that to the warehouse
or deliver that to your consumer?
00;14;44;18 - 00;14;47;23
If you've been in business a while
and you have pretty standardized costs,
00;14;48;03 - 00;14;49;21
then you can use an average.
00;14;49;21 - 00;14;54;18
You can take an average of your costs
and use a percentage of revenue
00;14;54;29 - 00;14;58;02
applied to that service
to determine your unit cost.
00;14;58;02 - 00;15;04;21
So if I know I spent $1,000
to deliver all of these products
00;15;04;21 - 00;15;09;00
and I got $5,000 of revenue,
then I have 20% cost of goods.
00;15;09;14 - 00;15;12;03
It's just simple math and 1000
00;15;12;03 - 00;15;15;07
divided by five.
00;15;15;07 - 00;15;19;21
So you can you can use a percentage
to determine the unit cost
00;15;19;21 - 00;15;22;10
or you can actually add up the cost
to determine the unit cost.
00;15;22;11 - 00;15;25;11
Either way it works,
but you want it drilled down
00;15;25;11 - 00;15;28;19
into one unit for each product or service.
00;15;29;18 - 00;15;29;29
Got it.
00;15;29;29 - 00;15;31;27
So what's what's next?
00;15;31;27 - 00;15;34;08
Next, we look at monthly operating costs
00;15;35;07 - 00;15;37;24
and here you're going to add up the total
00;15;37;24 - 00;15;41;02
of all your monthly operating costs
within specific categories.
00;15;41;22 - 00;15;45;11
And this goes back to how I said,
you know, you want your cost
00;15;45;11 - 00;15;48;18
to be bundled in meaningful ways
so all of your payroll
00;15;48;18 - 00;15;50;25
and personnel costs
should go together in one bundle.
00;15;51;29 - 00;15;55;00
All of the professional fees
or subcontractors
00;15;55;00 - 00;15;57;08
that you use should be bundled together.
00;15;58;17 - 00;16;00;19
If you have to pay rent
00;16;00;19 - 00;16;03;20
and utilities, then you want to bundle
all of those costs together.
00;16;03;20 - 00;16;06;22
I think related to physical plant,
00;16;06;22 - 00;16;08;24
your marketing and advertising costs
00;16;08;27 - 00;16;11;03
are another category
00;16;11;26 - 00;16;16;03
and sales
related costs may be of another category,
00;16;16;03 - 00;16;18;12
especially if you are distributing
to wholesale.
00;16;19;05 - 00;16;21;23
And then finally,
your general and administrative costs,
00;16;21;23 - 00;16;24;22
which is everything that doesn't fit
into one of those categories above.
00;16;25;02 - 00;16;29;10
It's like your licensing.
00;16;29;10 - 00;16;29;26
I don't know.
00;16;29;26 - 00;16;31;22
I can't even think of anything
that doesn't go in there.
00;16;31;22 - 00;16;33;16
Software, subscriptions, maybe,
00;16;34;23 - 00;16;37;19
you know, anything that doesn't
fit into one of those .
00;16;37;19 - 00;16;39;23
Insurance
definitely you should have insurance.
00;16;39;23 - 00;16;42;12
So those are the things that like applied
across the whole business,
00;16;42;12 - 00;16;45;08
not to one specific activity
or area of the business.
00;16;47;06 - 00;16;47;16
Got it.
00;16;47;16 - 00;16;49;21
So it seems like
you probably can pull this information
00;16;49;21 - 00;16;52;29
from your accounting software,
like QuickBooks. Yep.
00;16;53;17 - 00;16;58;14
You know, if you can go back
and take 12 months worth of data
00;16;58;14 - 00;17;01;04
and divided by 12 and that's your average
for the whole year,
00;17;01;04 - 00;17;03;06
that's a great way
to come up with a monthly average.
00;17;04;01 - 00;17;09;06
If your business, you know, is newer or
it has trended in a particular direction.
00;17;09;06 - 00;17;12;13
If you've added a lot of staff recently,
you want to take just the more recent
00;17;12;13 - 00;17;13;25
period, maybe four months.
00;17;15;00 - 00;17;16;03
But basically you're trying
00;17;16;03 - 00;17;19;11
to come up with
like what your monthly average would be.
00;17;20;05 - 00;17;22;05
Right? So let's talk about taxes
00;17;22;05 - 00;17;24;13
and how to estimate taxes
as a part of this plan.
00;17;25;13 - 00;17;26;06
Right?
00;17;26;06 - 00;17;30;09
So taxes is a tough one
because everybody's
00;17;30;09 - 00;17;33;01
tax situation is different
and it's highly,
00;17;34;05 - 00;17;37;27
you know, unique to the structure of your
business or the structure of your family.
00;17;38;20 - 00;17;42;10
So it's very hard
to give a rule of thumb and
00;17;44;09 - 00;17;47;22
so the best way to estimate the taxes
that you're going to owe on
00;17;47;22 - 00;17;51;10
your current year's
income is to look at your last
00;17;51;19 - 00;17;53;18
year's tax bill
00;17;54;19 - 00;18;01;12
and look at how much you paid versus
00;18;01;12 - 00;18;03;28
how much revenue
you declared from the business itself
00;18;05;00 - 00;18;07;00
and just come up with a percentage
that way.
00;18;07;00 - 00;18;08;28
That is absolutely
the cleanest way to do it.
00;18;09;28 - 00;18;12;15
If you don't know, you can put in a number
00;18;13;14 - 00;18;16;26
and kind of I guess you put in 8% or 10%
00;18;16;26 - 00;18;20;19
and then compare it to last year and see,
are you close way off like what?
00;18;20;19 - 00;18;23;03
You know, what do you think
00;18;23;17 - 00;18;26;27
if you if you really don't
have a way of coming up
00;18;26;27 - 00;18;31;11
with a good estimate, then you can use 10%
as a reasonable rule of thumb.
00;18;31;27 - 00;18;34;23
And that really comes from the profit
first world, where
00;18;35;13 - 00;18;38;10
the author Mike Micalowicz has looked
at like a range of companies
00;18;38;17 - 00;18;42;08
that's like across all industries
of all sizes, in all formats.
00;18;42;08 - 00;18;43;26
And so it's a very generic number.
00;18;43;26 - 00;18;45;27
It's not really a solid number.
00;18;45;27 - 00;18;49;07
Remember, when you pay your taxes,
you're paying your taxes on
00;18;50;21 - 00;18;54;02
your taxable revenue,
which is, after all, your deductions.
00;18;54;11 - 00;18;57;22
So in this, we're going to come up
with a lower percentage than you would
00;18;57;24 - 00;19;00;29
see on a texture, because we're going to
look at the top line revenue
00;19;00;29 - 00;19;06;03
and what percentage of that
is ending up in taxes. And
00;19;07;11 - 00;19;10;13
in this case, it's better to overestimate
than underestimate
00;19;10;13 - 00;19;13;16
because it better to be prepared
to pay more taxes than you need to pay,
00;19;13;28 - 00;19;17;04
than it is to have to pay more taxes
than you want to pay.
00;19;18;07 - 00;19;20;17
So that's my recommendation,
00;19;20;17 - 00;19;24;12
is to be a little generous
with that number.
00;19;24;12 - 00;19;27;23
All right. And so what's next?
00;19;27;23 - 00;19;30;17
Last but not least,
is planning for profit.
00;19;31;06 - 00;19;33;12
So this again, comes from my work
00;19;34;22 - 00;19;37;00
as a certified profit first professional,
00;19;37;00 - 00;19;41;19
where I help companies to understand
how to, on a cash basis
00;19;41;19 - 00;19;46;03
improve their profitability
and setting a target for profit
00;19;46;03 - 00;19;49;08
that you're going to have in the bank
beyond everything that you pay out
00;19;50;11 - 00;19;52;14
is really critical and
00;19;53;26 - 00;19;58;19
so I put a few guidelines in in terms
of how to estimate
00;19;58;19 - 00;20;03;18
how much your cash
tax cash profit should be.
00;20;03;18 - 00;20;06;01
If you can get to 5%
00;20;07;05 - 00;20;10;07
cash profit, you will have some money
to build up
00;20;10;07 - 00;20;13;12
as a reserve and to continue the business
and grow the business.
00;20;13;26 - 00;20;18;16
If you can get up to 10%, obviously
you'll be in a much better position.
00;20;18;17 - 00;20;22;21
You're going to cover your operating costs
and have a lot more room for growth and
00;20;23;28 - 00;20;27;20
if you're talking with food businesses
that are early stage food businesses,
00;20;27;21 - 00;20;31;05
getting to 10% is really quite a great
quite a good accomplishment.
00;20;32;03 - 00;20;35;07
Once you start to get a little larger,
though,
00;20;35;08 - 00;20;38;24
you should be pushing towards 10 to 15%.
00;20;39;06 - 00;20;41;24
This is a very if you could maintain a 15%
00;20;42;22 - 00;20;46;07
profit ratio in the food world,
you'll be a very strong business.
00;20;46;07 - 00;20;49;26
You have money ready to scale
and you'll even possibly be able to
00;20;50;20 - 00;20;52;00
attract outside capital.
00;20;52;00 - 00;20;54;05
Banks would be happy to lend to you
00;20;54;05 - 00;20;58;03
and you won't feel like you're tight
and living on the edge all the time.
00;20;59;14 - 00;21;01;09
And if you can get to 20% or more,
00;21;01;09 - 00;21;05;22
regardless of injury of industry,
you're an excellent company.
00;21;07;14 - 00;21;10;13
Businesses
that go higher than 20% are things like,
00;21;10;13 - 00;21;14;24
you know, online businesses
that have very little overhead
00;21;14;24 - 00;21;16;18
and lots of cash flowing in the door.
00;21;16;18 - 00;21;19;00
So if you get more than 20%,
that's fabulous.
00;21;19;00 - 00;21;22;07
There definitely are people out there
in the Guru world
00;21;22;07 - 00;21;25;13
that are claiming 50%
or more tax rate to profitability rate.
00;21;25;24 - 00;21;26;12
That's great.
00;21;26;12 - 00;21;28;17
But if you're in a food world,
you're not going to see that.
00;21;29;14 - 00;21;32;10
That would be extraordinary.
00;21;32;10 - 00;21;37;08
So how often should we revisit it’s plans?
00;21;37;08 - 00;21;42;04
So you're asking about a one page plan
as a whole?
00;21;42;13 - 00;21;43;11
Yeah, the one page finds a whole.
00;21;43;11 - 00;21;44;29
Like, how often easy is it something,
00;21;44;29 - 00;21;47;13
as I've created the plan,
do I look at a quarterly?
00;21;47;13 - 00;21;49;19
Is it something
that I look at every six months ago?
00;21;49;19 - 00;21;51;03
How should we be using the plan?
00;21;52;07 - 00;21;53;04
So what
00;21;53;25 - 00;21;54;27
would I do with the plan?
00;21;54;27 - 00;21;57;02
Is I recommend
00;21;59;08 - 00;22;00;20
keeping the percentage
00;22;00;20 - 00;22;03;26
allocations
for each of those major categories
00;22;04;08 - 00;22;06;22
as you look
every month at your financial report.
00;22;06;23 - 00;22;08;26
Because every month
when you look at your financial report,
00;22;08;26 - 00;22;11;02
you want to know
if you're close to the plan or not,
00;22;12;14 - 00;22;14;27
if your what your results are are very,
00;22;14;27 - 00;22;17;25
very different than your plan,
then there's two choices to make.
00;22;18;06 - 00;22;21;14
One is to try to adjust your expectations
00;22;23;08 - 00;22;25;19
by adjusting the plan
so that it fits your reality.
00;22;26;12 - 00;22;28;06
And the other
is to try to change your reality
00;22;28;06 - 00;22;31;03
so that it fits the plan and usually it's
going to be a balance of the two.
00;22;31;03 - 00;22;34;28
So if your revenue numbers are coming in
really much lower than you projected,
00;22;34;28 - 00;22;37;13
then you're going to have to try
to cut your costs somewhere.
00;22;37;13 - 00;22;39;00
Whether that's in cost of goods
or operating
00;22;39;00 - 00;22;42;24
costs, you're going to have to address
that or you're going to run out of money.
00;22;42;24 - 00;22;46;16
If your revenue numbers are really high,
then that's going to be a signal to you
00;22;46;16 - 00;22;49;05
that you could put more into marketing
or you can put more into sales,
00;22;49;26 - 00;22;53;01
or you can start to build your,
you know, keep
00;22;53;01 - 00;22;56;19
your cash reserves building
and you have other choices to make.
00;22;57;16 - 00;23;00;13
Plan is just a way of setting guidelines.
00;23;00;13 - 00;23;02;02
So if your guidelines aren't working,
00;23;02;02 - 00;23;06;15
then you really should adjust them
maybe quarterly, maybe twice a year.
00;23;08;06 - 00;23;11;09
You should not feel like the plan is like,
you know, stuck in stone
00;23;11;09 - 00;23;13;18
and you chiseled in stone
and you can't change it.
00;23;13;18 - 00;23;17;13
You should use the plan to help you
guide business decisions.
00;23;17;13 - 00;23;19;20
But if the plan's not working,
you need to change the plan.
00;23;21;00 - 00;23;22;02
So. Got it. So, okay.
00;23;22;02 - 00;23;26;11
So thank you for taking us through these
these steps of how can we all access
00;23;26;11 - 00;23;29;20
this one page business plan?
00;23;29;20 - 00;23;33;17
So the one page plan
is available to any subscribers.
00;23;33;17 - 00;23;36;25
So if you go to CFO on Speed Dial.com
00;23;37;14 - 00;23;39;15
and hit the subscribe button,
00;23;40;06 - 00;23;43;14
you will be welcomed as a subscriber
and you'll be given a link
00;23;43;20 - 00;23;47;16
to a series of videos
where I walk through the plan
00;23;48;07 - 00;23;51;09
and you'll get the it's a Google Sheet
so you save it as your own
00;23;51;09 - 00;23;54;02
and then you can play with the numbers
and see what results you get.
00;23;54;28 - 00;23;56;02
Great. Thank you so much.
00;23;56;02 - 00;23;58;27
This is fantastic information
00;23;59;13 - 00;24;01;27
and thank you for explaining
meaningful numbers.
00;24;02;01 - 00;24;04;15
So, Christine,
please tell us what you're celebrating.
00;24;04;15 - 00;24;05;07
At Hudson Kitchen.
00;24;05;07 - 00;24;09;15
We have a money bell that we ring
when we are celebrating different things
00;24;09;15 - 00;24;10;08
from getting our people
00;24;10;08 - 00;24;13;15
getting a paycheck to taking on new,
new retail partners and new clients.
00;24;14;06 - 00;24;17;14
So since it's the start of the new Year,
I'm really excited to announce
00;24;17;14 - 00;24;21;29
that we have launched our Meaningful Money
course, which we've broken down into two
00;24;21;29 - 00;24;26;03
segments, Meaningful Money Essentials,
which will take you
00;24;26;20 - 00;24;30;05
from the top level down work
that I just described in the
00;24;30;05 - 00;24;34;27
in the one page plan
into much more nitty gritty work on
00;24;35;22 - 00;24;39;12
building a cash flow plan
and making sure that your books
00;24;39;12 - 00;24;42;05
are clean and accurate
and that you have meaningful money.
00;24;42;27 - 00;24;44;02
These are what we consider to be
00;24;44;02 - 00;24;47;11
the essentials to kind of manage
through this down economy.
00;24;48;09 - 00;24;51;04
And then the second course,
which will start a little bit later,
00;24;51;22 - 00;24;54;17
is called meaningful money next level.
00;24;54;26 - 00;24;58;18
And that's where we get into longer
term projections and really thinking about
00;24;58;26 - 00;25;03;23
growth and pivots to to maintain growth
also in the down economy.
00;25;04;09 - 00;25;07;10
So those are the two new things
that we have to offer
00;25;07;18 - 00;25;10;28
that are available
now on this CFO on Speed Dial website.
00;25;11;11 - 00;25;12;29
Christine,
thank you so much for being here.
00;25;12;29 - 00;25;15;02
Please
let everyone know where they can find you.
00;25;15;10 - 00;25;18;00
You can find me at cfoonspeeddial.com,
00;25;18;06 - 00;25;21;04
or on most social media @CFOonSpeedDial.
00;25;21;14 - 00;25;21;26
Thank you.
Connect with Christine
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