Usually it’s the dramatic things in our lives that cause us to make the changes in what we do and who we are. As I look back at my career, I see I have made major changes that were caused by the events and circumstances in both my personal and professional life that has led me to the decisions I made at the time.
I recently joined B2B CFO, the nation’s largest CFO consulting firm. I left a prominent position with a reputable engineering firm in the Twin Cities that was devastated by the collapse of the residential and commercial real estate development market. The company saw its revenue decline by 67% over a 3 year period, which led to a reduction of staff by 60%. In order to survive, we restructured the Company’s debt and equity, which caused several business partners and shareholders to realize substantial losses, but was necessary to save the remaining jobs and the firm.
The firm won substantial new business in North Dakota in 2011, along with significant increase in volume from commercial clients. The company grew revenues by nearly 90% in 2011 and restored approximately 25 positions. The Company posted its first profit in 5 years and was able to restore wage increases and staff bonuses.
Although I am proud of what we accomplished and how we managed the business to survive in the worst real estate market in 75 years, the situation in my personal life caused me to reassess my goals and objectives. Last year my wife of 23 years was diagnosed with breast cancer. After 7 months of surgery, chemotherapy, and radiation treatments I am happy to say it was caught early and everything is looking as good as can be expected.
During the dramatic events in our lives and businesses, we reassess the direction of our business strategies and the way we run our day- to- day lives. I joined B2B CFO because I believe I have a lot to offer small businesses. The economy has challenged small businesses to be more creative in how we manage our resources. This includes the quality of the personnel we can afford on our payroll and the consultants we hire to fill this void. A firm like B2B CFO provides the highest level of financial service without the full time cost. My experience and the resources of B2B CFO will help you achieve higher levels of success for your business.