How effective is your business strategy? Are you analyzing your numbers to make better decisions for the future? This week our guest is Jacob Oberlander, the Founder & Team Leader at Oberlander & Co, a firm focused on providing Virtual CFO Advisory in addition to traditional tax services. He is on a mission to try to explain to growing business owners the importance of setting goals, creating a budget, reviewing performance, and after-action reviews. In our interview, Jacob digs into how entrepreneurs should set their business goals and keep tabs on the numbers. He explains the difference between a bookkeeper, controller, and CFO and what companies need to have people performing those roles. He also remarks on the importance of not overspending on advertising or anything that can shrink your margins and discloses relevant information of the two industries he is currently focused on: subcontractors and e-commerce.

Listen and enjoy!

[00:01 - 07:44] Opening Segment

• Jacob Oberlander's background and work experience
• • His passion for numbers and economics
• Jacob's passion for accounting
• • Learn and understand from numbers
  • Starting his firm Oberlander & Co
  • Doing virtual CFO services

[07:45 - 21:53] The Bookkeeper, Comptroller, and Virtual CFO

• How people can know when their businesses need a CFO
• • It depends on the size or value of your business
• Jacob's insights about the subcontractors and e-commerce industries
• Numbers business owners need to pay close attention to
• • The cash flow ratio and profit margin
• The difference between gross vs net profits of the company
• • Have decent margins and find a way to be profitable

[21:54 - 34:49] Building a Healthy Business

• The role of profitability and cash flow
• • Do long-term cash flow and plan your cash for 12 months
• What systems business owners should use to track their numbers
• • Look at your inventory program
  • Have a good management program
• Jacob's perspective of what a healthy business looks like in terms of net profit
• • How many months in reserve you should have cash flow and look at your debt

[34:50 - 36:47] Closing Segment

• Learn more about Jacob with the Rapid Fire Questions!

Connect with Jacob

Follow him on LinkedIn, Instagram, and Facebook. Don't forget to check Oberlander & Co to get a deeper understanding of taxes, finance, and small business best practices!

We're a passionate bunch. Together, we help your business flourish. Visit: https://ptexgroup.com

Let's Talk Exits! Check out my new podcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/lets-talk-exits/id1606747718

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Resources mentioned:

• Book: Free To Focus - Michael Hyatt.

Key Quotes

"The numbers tell a story." - Jacob Oberlander

"It's not just about the numbers, it's your life." - Jacob Oberlander

"If you start today with a mission, you understand what you're doing, you'll be successful." - Jacob Oberlander