Has the pandemic caused a cash crunch for your business? Looking for better strategies of forecast planning, budgeting, and a visionary approach to your company’s financial health? Join me with my special guest Brian F. Califano, CPA – an outsourced CFO and co-founder of AcceleratingCFO.
0:30 – 12:52 – Eric welcomes his guest Brian Califano, CFO and Co-founder of Accelerating CFO. We are reaching the year anniversary of lockdown, and Eric decided that this episode should focus on budgeting for the worst case scenario. Brian’s company analyzes client budgets, worst case routine, and more. While assisting in the launch of a live music entertainment company, Brian realized that smaller businesses were not receiving practical advice on managing their finances as a public company. It was his mission to help small business owners. With a colleague, Brian founded Accelerating CFO. To Brian, when you talk about the American dream, these small businesses are what he thinks of.
15:55 – 30:35 – No fundamental process to budget. All that mattered was that they were doing better and if they did worse they understood why. Their process was more reactive than proactive. If you don’t then you’ll miss out on an opportunity to make your finances more transparent. Once you see then you can plan and forecast. Brian usually makes a best, worst, and most likely scenario plan for his client. For good measure he also made an apocalyptic plan and much to his surprise, those plans found some use recently. Without a blueprint many were scared and unable to adapt. Brian and his clients were bracing for the events months prior and were able to plan responsibly and calmly.
33:30 – 45:25 – Eric notes that he tries to be optimistic but realistic with his clients. Many people often avoid looking at the worst case scenario out of fear that it will occur. Brian has done his best at interpreting law and guiding clients in the best way as the rules change realtime. One of the things that he has managed was the forgiveness of the PPP Loan, which varied depending on the number of employees and losses in revenue. For those who had a relatively positive year, companies applying for the second PPP Loan are under greater scrutiny and there is a greater possibility that they may be denied.
47:42 – 56:55 – Brian and his partner Scott have adopted a playbook that differentiates them from others. They adapt for each company’s strengths, where the personnel reside, and for other factors. They also have a personal relationship with all their clients so their clients can always reach out to them and discuss the key matters that dictate their decisions. Together, Brian and Scott bring the best of both of their accounting and finance experience to help their clients. For a free diagnostic of your company’s issues, contact Brian or visit their site acceleratingcfo.com.
About Employment Law Today
Helping Business With Employment Law Issues.
For many business owners, it can be overwhelming to keep up and comply with the federal and state labor and employment laws that govern how they run their business. With the COVID-19 pandemic, there are new laws and regulations regarding hiring, firing, and workplace practices and protocols — all of which can increase business owners’ anxieties about regaining traction or thriving again. On my weekly show, we will be discussing the most common employment law related questions and challenges that business owners have been facing in these uncertain times.
The show will have three main goals: (1) to inform businesses about employment law updates, (2) to inspire businesses by giving them the tools to move forward, and (3) to demonstrate how some business owners have overcome their employment law problems, walked through the challenges imposed by this pandemic, and have taken steps to regain traction during the reopening phases of this pandemic.
Our guests will include professionals who advise businesses from an H.R., legal, and financial perspective, along with thriving business owners who will share their experiences and insights into running a successful company while complying with labor and employment law mandates during COVID-19.