Virtual CFO

FOR IMMEDIATE RELEASE:
CxO To Go Secures Financing for Two Clients
DENVER, Colorado (July 13, 2010) – CxO To Go partner Keith McAslan (Denver Business Journal 2010 CFO of the Year Nominee) has secured favorable financing for two CxO To Go clients in this difficult lending environment.  Using the BankSell™ package, preferred lending sources and personally representing the Client’s with the lenders, CxO To Go was able to secure the financing.  These successful Client’s include:
A manufacturing client was not only able to renew their $500,000 line of credit with the lender but secured an increase to $700,000.  This client secured the initial line of credit one year ago with the assistance of CxO To Go to fund growth and expansion initiatives.  By working with CxO To Go as the Trusted Advisor to the CEO on an on going basis this client has increased revenues from $2.5M annually to over $3.5M and improved profitability and cash flow.
A virtual business (internet based and executive coaching) Client of CxO To Go was able to close on an unsecured line of credit with a lender to fund new product development and provide liquidity due to seasonality in the business.  Additionally, CxO To Go has been the part time CFO for this Client for over one year, helping to drive strategy and improved financial results.
CxO To Go is national professional services company headquartered in Denver, Colorado that provides on-demand C-Level expertise and best practices to client companies on a part time, flexible, and affordable basis. Contact CxO To Go at 888-745-8516, or This e-mail address is being protected from spambots. You need JavaScript enabled to view it to discuss your business needs. ###

By Keith McAslan, Partner, CxO To Go

Introduction:
Most CEO’s and small/medium business owners only review the financial position of the business with their Bookkeeper/Controller two to three weeks after the month has ended. This is like driving your car forward while looking exclusively in the rear view mirror – it doesn’t work. Most CEO’s and business owners focus on the “bottom line” (net income, EBIT or EBITDA), and fail to recognize that “Cash is King”! The Dashboard–Cashboard is a simple tool that is forward looking and helps the business understand the drivers of cash and projects the cash position.

The Key Benefits of the Dashboard - Cashboard
The benefits of a business implementing a weekly Dashboard-Cashboard include:

Introduction:

Many CEO’s and small/medium business owners do not have a Board of Advisors, or Board of Directors to help hold them accountable and direct the business towards the ultimate goal of monetization with an exit strategy. If the business cannot afford a full time CFO, a part time CFO with a broad based business experience can be that ‘Trusted Advisor’. Ideally the CFO who is the ‘Trusted Advisor’ not only has financial experience, but operating experience as well to provide global insight to issues facing the business.

The Value Add:

The CFO who becomes the ‘Trusted Advisory’ to the CEO delivers results-driven, professional counsel and solutions for complex situations. The key benefits for the CEO and the organization having a ‘Trusted Advisor’ include:

Every business owner/CEO can benefit by spending a little time on these 3 Tips and taking action NOW for your success in 2010: 

by Marty Koenig and Keith McAslan
Partners at CxO To Go^TM

• Rapid company growth has stretched the capabilities of your current accounting staff to the limit, but you still cannot afford a full time senior financial executive.
• You are planning a major expansion and can benefit from adding an outsourced CFO and trusted advisor to your management team.
• You need assistance in dealing with bankers, lenders or outside investors.
• Your company is in a crisis, experiencing financial or other difficulties and requires strong financial leadership that cannot be provided by your current accounting staff.
• You need specialized financial expertise not available internally, and could use the help of an experienced CFO to mentor and coach them to do better at what they do.
• You are planning an exit from your company with a merger, acquisition, or sale and want to gain maximum value and sale price in the future.
• Your CFO leaves unexpectedly and your company has no one internally with the skills and experience to take over. Until you complete the search for a replacement, CxO To Go can provide the financial expertise to keep your business running smoothly.
• You need a periodic financial advisor to keep your company on track, someone that is dedicated to your company as it grows.
• You are a new start up company and want professional advice to begin your financial management correctly.

Are You a CxO?

Do you wear a lot of hats? How's that working for you? Most business owners and CEOs tell me they don't like it. But they are convinced that performing a constant juggling act is a requirement of the job. You're the one who has to make sure the business keeps moving forward and will do anything at any time to make sure that happens. That's true, but more effective ways exist to reduce the number of hats you wear so you can focus on growing the right things for your business. 

"Managers are there to do things right and leaders focus on doing the right things" -Warren Bennis