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One of the most common tools your CFO will reference is a cash flow forecast. This tool helps you and your strategy team understand what happens to your cash flow in the future based on the decisions you make today.

Once a plan is in place, you'll want to know how well you're tracking to it. We all know how vital budgets are, but they don't always get used. Your CFO can help get your budgets in place and then analyze your company's performance against it.

For businesses on the verge of a cash crunch, knowing break-even points is crucial. Your sales and production teams must know how much work they have to deliver to keep the bills paid. Every business faces hard times, and if that ever happens to you, your CFO can help you dig deep and control the excess.

If you're a staff heavy organization, you must know as much as possible about your payroll costs. Is your staff operating efficiently? Should you give someone a raise, and if so, what will it do to your business over the long-run? As we coach businesses across the country, labor costs tend to be their biggest downfall. They have either over-hired or haven't staffed enough, and the bottom line gets strained.

Not all costs in your business are created equal. You incur fixed costs regardless of what you do. While you can reduce cost in this category, there's only so much you can cut and the benefit to your business becomes less and less impactful. However, your variable expenses are the costs you incur when you do work. The secret to getting wealthy is controlling these costs in an efficient manner. Your Ignite Spot CFO is an expert at identifying these costs and keeping them in check.

If debt is a part of your growth strategy, your CFO will help you optimize your liabilities so that they support you in your goal. If you have debt because your company has seen hard times, then we need to create a reduction plan for getting your company back on top.