Florida CFO Group Blog

Helpful topics from Florida CFO Group's experienced CFOs

Exit Planning Strategy: Who Needs It?

Florida CFO Group partners Dawn Johnson, Mark Brown and Harold Hale discuss the importance of having an exit strategy for your business.

Exit Planning Strategy: Who Needs It?

Harold: An exit strategy is planning for a transition of ownership. It is a way or means of either entrepreneurs or investors to basically reap the benefits of what they created.

Dawn: It’s also known as a cash-out. When an entrepreneur realizes that their business is going to grow, they may start to think about how and when to cash out.

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How to Make & Keep Your Budget Relevant With Your Strategic Plan

Florida CFO Group partners Dawn Johnson, Mike Meyer, and Dan Polen discuss the importance of aligning strategic plans and annual budgets.

Mike: A lot of companies, and not just start-ups, struggle with planning and especially with aligning their annual budget and strategic plan.

Dawn: Yes, too often each is developed independently of the other without any effort to integrate them.

Dan: When this happens the annual budget is generally based on the previous year’s numbers and not on the strategic goals and objectives of the organization. I work with my clients on developing a strategic plan that creates an overview or picture for how the management team sees the company over the next three years. Then the shorter-term is managed to a one-year budget.

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