In this episode of Before You Buy or Sell a Business, host Jared Johnson interviews John Hannum, the founder of PPS Solutions, about the importance of having a fractional CFO for small and growing businesses.

John shares his insights on the biggest mistakes business owners make, the key things to focus on when selling a business, and the trends he has observed in the small to medium business market. He also provides valuable advice for buyers looking to acquire a business and discusses the role of a fractional CFO in improving a company's financial health and maximizing its value.

For more information or to contact John, visit: https://www.ppsfinance.com/

In this episode:

00:00:00 | Introduction

00:03:41 |John Hannum on starting PPS Solutions, fractional CFO services

00:06:04 | Fractional CFOs offer operational expertise and act as financial partners to entrepreneurs.

00:08:55 | Biggest mistake in finance: not using clean accounting information

00:09:11 | Importance of cleaning up accounting and looking at accrual accounting

00:11:35 | Importance of budgeting and cash flow forecasting

00:14:20 | Importance of planning for business exit and maximizing value

00:17:35 | Setting goals in the first year of a three-year period

00:20:26 | Creating a good story for the business sale

00:22:00 | Dealing with cash sales and creative ad backs

00:23:46 | Educating business owners on the implications of tax fraud

00:27:09 | Advice for buyers looking to buy a business

00:31:45 | Motivation to help others achieve their vision

00:33:21 | Closing remarks, contact information for John Hannum

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If you have questions for Jared, visit JaredWJohnson.com

DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.