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The Key to Understanding Your Numbers with Virtual CFO Advisor, Jacob Oberlander

With Jacob OberlanderEP 111

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.

Transcript

[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 own 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!

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Guest Bio
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Jacob Oberlander

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.

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