Friday, July 27, 2012

FRIDAY'S STORY TO INSPIRE - Pick Up Your Oar And Start Rowing

Today's story is a heartwarming story, that just makes you think in more ways then one.  Keeping it light for you today.  This finance stuff can get really heavy.

An inquiry - what is your heart wanting for you today?










Enjoy!

Pick Up Your Oar And Start Rowing

My boss, two co-workers and I stood behind the hard plastic seats. We were in the front section, on the first-base line at Shea Stadium, home of the New York Mets. We were so close to the infield, there was a protective net over our heads. I was new to the New York City area and had never been to Shea Stadium. These were dream seats. My heart pounded with excitement.

We stood with our umbrellas held high. The rain beat down on everything around us. It bounced off the seats and quickly formed deep puddles on the cover protecting the field.

"Steve," I asked my boss, "How did you get such great seats?"

"They came from Ed at the office. His dad is a blind sports writer and has a long- standing relationship with the Mets and Yankees."

The game was called due to rain. We left the stadium disappointed. On the long subway ride back to Jersey City, I wondered about the man behind the seats. How could a man be blind and be a sports writer?

Years have passed since that rainy night. Old friends back in Canada often ask me, "Mike, have you gone to a baseball game in New York yet?"

I say to them, "I've been to a few, but let me tell you about the best seats I ever had but couldn't use."

Whenever this happens, the memory of that night comes flashing back. I wonder about the blind sports writer. What was his story?

It had to be special.

I sat at my computer one night. An email popped into my in-box. I didn't recognize the return address. The subject line said, "Inspirational SI article about my dad, Ed Lucas." I was curious.

I opened the email. It was from a gentleman sending me a clip of a story written by Steve Rushin for Sports Illustrated. It was a wonderful read about a special man. Through the article and the man who sent it to me, I learned the full story. The following is a synopsis:

Twelve-year-old Ed Lucas ran home from his school in Jersey City. It was October 3, 1951. He arrived in time to see Bobby Thomson win the pennant for his favorite team, the New York Giants.

After the game, Ed ran out to play ball with his friends. During the game, Ed was hit between the eyes by a line drive. The force of the blow detached both retinas, leaving Ed permanently blind.

Ed became depressed. His mother, Rosanna, took matters into her own hands and took Ed to a Newark, New Jersey men's store.

There, she introduced him to Phil Rizzuto, a part-time employee of the store and a Yankee star. Phil befriended Ed.

Rosanna wasn't done yet. She wrote the Giants Manager, Leo Durocher, about her son. Leo asked her to bring Ed to, what was then called, the Polo Grounds. On June 14, 1952, young Ed sat in the clubhouse with the members of the Giants. It was the beginning of a special relationship.

Ed enrolled in St. Joseph's School for the Blind in Jersey City. The nuns were demanding. Ed learned to make his bed and match his clothes. If he whined about being blind and not being able to do what other kids could, Sister Anthony Marie was quoted saying, "Isn't that a shame? We're all in the same boat here, Ed. Pick up your oar and start rowing."

Ed enrolled in university to study communication arts. He worked hard. He knew no other way. The nuns had made sure of that.

He graduated in 1962 and became a regular in the Shea and Yankee Stadium press boxes, where he interviewed the players. Years later, a young Mets rookie, Ron Swoboda, took Ed by the hand. Together they walked the warning track around the field. Ed traced his fingers along the outfield wall. His fingers, sensitive to reading Braille, seemed to read the history of the park. Every dent, scratch and chip he touched meant something to him.

Later that year, Ed married. He and his wife had two sons - Eddie and Chris. Sadly, at a very young age, their mother left forever. Ed had to raise his two sons alone. With the strength he learned years ago at St. Joseph's, Ed took on the task. He taught his sons to be strong.

It was not uncommon for the two young boys to see Billy Martin in their home. "Huge stars like Mickey Mantle would tell me my dad was their hero," Chris was quoted as saying.

Years later, a friend came to Ed and told him about a nurse, Allison Pfeifle, whose detached retina left her legally blind and unable to continue her profession. He asked Ed to speak to her.

Ed and Allison talked on the phone for many years before meeting in person. They were baseball fanatics and spent their first date at Shea Stadium.

On March 10, 2006, at Yankee Stadium, Allison walked from the dugout to home plate and became Ed's new bride.

With his two sons at his side, Ed started a new life, at the place he holds so dear, and with the woman who captured his heart.

Ed, now 68, was quoted saying, "Baseball took my sight, but it also gave me my life."

***********************

I sat in shock. Could it be? I mailed Chris back and told him about the seats we couldn't use that rainy night.

He confirmed, his father was the man who provided those unused seats. Chris told me later, "They are the first couple in the 80 year history of the stadium to have the honor of marrying there."

I finally knew the story. It was sure worth waiting for.

Michael T Smith

Michael lives in Caldwell, Idaho with his wonderful wife Ginny. He writes in his spare time and is completing a collection of his stories to be called, “From My Heart to Yours.” Michael writes inspirational stories in his spare time. To read more of Michael's stories or to contact him, go to Michael-Timothy-Smith Stories

For support e-mail me at d.rosenfelt@cfomadeeasy.com.

Warmly -

Debbie Rosenfelt
Chief Heart Officer
CFO Made Easy

Tuesday, July 24, 2012

BABY STEPS - STEP 2 OF A 4 STEP ACTION PLAN FOR MANAGING CASH


For a good twenty years, I managed cash daily, weekly, monthly and quarterly at the privately held companies I worked for.  Consistently working cash flow so we were prepared for anything.

Step two for managing cash is using a weekly cash management tool.
This is a 52 week spreadsheet that tracks cash flow going in and coming out of your bank accounts. General checking, payroll account (If you have a separate account) savings account, and line of credit. In addition, this spreadsheet tracks accounts receivable, account payable and any credit card debt you may carry. 
Using this tool will have you looking at your accounts consistently and allows you to manage and plan, when you need to borrow from a line of credit, pay down the line, and or transfer money into savings.
We have a savings account for the gym and we sock $500 each month to cover the semi-annual real estate property taxes.  In addition, if there is a little cash left over we will put additional funds aside to cover new equipment for the gym.
You can purchase the weekly cash management tool to your right for $175, equal to $3.37 a week, which is equivalent to less than one Grande latte.
Why manage cash weekly? This is the path that provides knowledge and direction for your financial goals for your business. This is so you see where you have been, know where you are and plan where you are heading at all times. Knowledge is power. Mapping out cash coming in and going out weekly, allows you to see and plan what is needed.

A question I am constantly asked - Why do I need to manage cash flow daily when I use QuickBooks.?
Great question - the answer - CASH is KING. It is the lifeblood of every business. If you don't manage the cash coming in from accounts receivable and going out, accounts payable you run the risk of putting yourself out of business.  When you don't manage sales and accounts receivable you run the risk of missing income. (See previous post REVENUE PATROL ALERT ) If you are not managing your expenses. i.e. accounts payable you can run the risk of negative circumstances where you have to scramble.  The numbers are only information, with that information, you make choices and decisions how to move forward.
A short story about cash flow. Back in 2008 I was working with a company that sold goods wholesale to large retailers.  There was one company that we had to constantly monitor as there were rumbles of bankruptcy in the air. Frightening, especially when there was over $500k in outstanding receivables. They continued to make promises to pay, however at the end of June we were notified they filed for bankruptcy protection.
The good news, we had one advantage, our product the bankrupt business was selling, was their best seller. They needed our product.  I immediately created a letter to the President of the bankrupt company stating all sales will be paid for in advance by a wire. The President agreed. How did we do with cash flow? The cash sales from the bankrupt company provided cash in advance and funded our growth as the business grew 74%that year.  You need cash to grow.
Your business will fail with poor cash flow management, so why run the risk?
Create that new muscle, a new habit and learn how to work your cash flow differently.  As I shared in Step One, Cash happens right now, in this very moment when you receive a payment or are purchasing goods or services. Working cash daily and weekly forces you to look and plan.  You are the CEO of your business and the CFO. Lead your finances as you lead your business.
Remember, CASH is KING, so you need to know where you are at all times.

Creating simple, easy baby step habits opens the door to new possibilities for you and your business.
Next is step three - Cash Flow Management - Planning and mapping out sales i.e accounts receivable, expenses, i.e. accounts payable and credit card debt weekly.
Get in to action, invest in yourself and your business. Purchase the weekly cash management tool and get cracking on managing your cash. If you have any questions please leave below or e-mail me at d.rosenfelt@cfomadeeasy.com

Warmly -

Debbie Rosenfelt
Chief Heart Officer.

Saturday, July 14, 2012

STOP Guessing and START Creating - Revenue

For the last few weeks I have been creating revenue projections for entrepreneurs. So I am introducing this fun transformation strategy session to YOU -  

STOP guessing and START creating Revenue with direction and purpose.

Schedule a 60-90 minute energizing transformational strategy breakthrough session and;
  • Discover the hidden income potential for your business.
  • Uncover if you are spending 70% of your time on the least profitable products.
  • Recognize how prices impact your happiness and revenue goals.
  • Gain clarity on where you should concentrate marketing dollars
  • Feel inspired and empowered! YOU will reveal where your business could grow.
What more could you want?  Gain clarity and direction. Learn where to concentrate your most precious time on the most profitable products.
This will be a fun, energizing 60-90 minutes.
Step 1 - Click on the link to schedule an energizing transformational Revenue strategy session.
Transformational Revenue Call

Step 2 - Click on the drop down box to your right and select Revenue Projections.
Step 3 - Send me a list of products and prices two days before on strategy session. I will prepare the revenue projections with your information.
Step 4 - After our session, you will have projections for the balance of 2012 AND you will  have the revenue projections tool for you to create 2013 revenue projections in October/November.  If you want support for 2013 projections, support is here.
Below are testimonials from entrepreneurs sharing the transformation impact creating revenue projections.
If you have any questions - feel free to e-mail me at d.rosenfelt@cfomadeeasy.com.


Warmly -
Debbie Rosenfelt
CFO Made Easy

Testimonials
It WAS a rocking session. . . "Once I mastered the essentials, Debbie inspired me to plan more boldly for some pricing model changes I'd been contemplating and now the value of what I provide to clients is in alignment and so is my cash flow! I am thinking bigger picture, while confidently knowing my financial foundation is rock solid." Kristen Hemingway Hemmingway Strategies LLC

In just one hour, my financial coach was able to help me identify that I'm spending 70% of my time on the least profitable area of my business and only 30% of my time on the highest potential profit center.  That clarity was able to instantly help me switch my marketing and roll out strategy to pull resources from one area and reallocate them to another.  Just one hour of the clarity changed my entire business model!  Cindy Ratzlaff BrandYOU
As I worked with Debbie Rosenfelt quite a few things changed for me.  First was that I became very clear on my value, my real value, and how I value my time. Then I became clear on what I do and don’t want to do; what I want to offer to my clients and, most important, what I don’t want to offer.  This was a huge revelation to me and a very important part of the process.  With her wonderful insight and encouragement I was able to refine how to organize my product offerings and how to price them. Liz Byrne Loving Your Story


Thursday, July 12, 2012

BABY STEPS - STEP 1 OF A 4 STEP ACTION PLAN FOR MANAGING CASH

I was reminded today in a blog post by Jeff Walker, success happens in baby steps.  I needed that reminder today, to remind myself I am on a journey to building my business and it doesn't happen over night . . although I would LOVE the success to happen yesterday. A heartfelt YES, and you?
So I thought, why not create a post that supports leaders, entrepreneurs, business owners and CEO's a baby step action plan for managing cash.

Step #1 - Manage cash daily. 
How you ask?
With the daily, 12 month cash register. (You can purchase it to your right for $150, equal to $12.50 a month, which is equivalent to approximately 3-4 latte's)


Why manage cash daily? This is the path that provides direction for your financial goals for your business or life. This is so you know where you are financially at all times, and so you see where you are heading. Mapping out cash coming in and going out daily, allows you to see and plan what is needed. You know when monthly recurring bills and loan payments happen, so map it out and plan how much cash you need daily..
A question I am constantly asked - Why do I need to manage cash flow daily when I use QuickBooks.?
Great question - the answer - CASH is KING. Cash is worked daily, you need to know how much cash you have on hand at all times. YES, that means creating a new muscle, a new habit if you want to figure out how to work your cash flow differently.  Cash happens right now, in this very moment when you receive a payment or are purchasing goods or services. Working cash daily forces you to look at and think of what is coming up next. If it is next week, the end of the month, next month or next quarter, etc.
When I was working with privately held corporations, as the CFO I worked and planned cash daily, always looking at each day, each week, each month and each year. My team worked updated the financial information in the accounting software. AR, AP, monthly transactions, etc were worked on thru out the month.  Cash and financials are two different animals.  Cash is cash managed daily and financials share the whole picture, the financial story for the business every single month.
Even now, with our gym business, we manage cash daily with the daily cash register. It is similar to a checkbook yet in Excel, that holds 12 months of info in one workbook. Each month has it's own tab, and each worksheet is linked to the next. Every day we look at cash and manage it daily. Each day's deposits are mapped out and updated daily at the end of the day or the next morning. Recurring payments such as payroll, monthly payroll taxes, quarterly payroll taxes, trainers commissions, monthly loan payments, purchasing supplies and advertising are mapped out in advance and updated as needed. By doing this we are able to make a easy financial decisions on the spot. One example, how much to transfer to savings each month.  We use the cas placed in savings for the bi-annual property tax payments or plan for additional equipment purchases.  I also balance the monthly bank statement to the daily cash register which is a check and balance system for balancing cash to QuickBooks at the end of the month.
Remember, CASH is KING, so you need to know where you are at all times.
The key to success for your cash is to create simple, easy, baby step habits that will open the door to new possibilities for you and your business.
Get in to action, purchase the daily cash register and get cracking on managing your cash daily. If you have any questions please leave below or e-mail me at d.rosenfelt@cfomadeeasy.com

Warmly -

Debbie Rosenfelt
Chief Heart Officer

Friday, July 6, 2012

CFO Made Easy - First Radio Spot Commercial


I am so EXCITED, this is my first ever radio spot commercial.  It is 30 seconds and it was created for the radio program I was on earlier this week on KKNW, called Conversations that Heal with Susan Jacobi.  A very powerful conversation.
Listen and share the 30 second spot with others.


Have a question or a comment, leave it below or e-mail me at d.rosenfelt@CFOMadeEasy.com
Warmly -

Debbie Rosenfelt
Chief Heart Officer

FRIDAY'S STORY TO INSPIRE - LET IT BE YOU!

This morning's words of wisdom come from Jim Rohn.  I love this man's leadership and style of motivation.  He truly makes my mind think.

As you read today's motivation, think of your business. If you don’t have a business, think of your life, now. Remember you are the CEO of your life. Life is your business, lead it that way.

Entrepreneurs, leaders and CEO's have a desire inside for a better life, to make a difference in our world. As the CEO of your life how do you want to have a better life, a life where you are making a difference for your family.

Enjoy today's story and why not Let it Be You.

Let it Be you!

Have you ever wanted to make more money? Have you ever looked at someone who has money and wished that it could be you? People think about getting wealthy all of the time, when only a small percentage actually does. But any of the masses could. Someone is going to start a business. Someone is going to make a great investment. Someone is going to begin the journey to great wealth. So why not let it be you?

Someone is going to decide to improve their relationships. Someone is going to enjoy love with their family. Someone is going to schedule some meaningful time with their friends. So why not let it be you?

Someone is going to go back to school to improve their life. Someone is going to become a lifelong learner. Someone is going to set a goal to read a book or listen to a CD each week for the next year. So why not let it be you?

Someone is going to look in the mirror and see that they need to lose a little weight and they will make the decision to become healthy. Someone will run their first marathon. Someone will join an aerobics class and improve their health. Why not let it be you?

I think that by now you get the point: Every day people are improving their lives. Whether you do or not doesn´t matter to those who do. They are going to do it, regardless. It is simply a matter of a decision being made. Let that person be you!

You may be asking, “Okay Jim, but how?” Well, let´s cover the very simple actions.

The first and most important is to make a commitment to work on yourself. Are you going to improve or stay the same? No matter what you have achieved, you are at a certain point right now. What you have achieved in the past is fine, but it doesn´t make a difference for the future. The decision about what you will become is made each day and every day. Each day someone is making the decision to better him or herself. Let that person be you!

The second is to make a plan. Once you have decided to become better you will have to have a plan. It doesn´t have to be a long, intricate plan. It can be simple. Save a dollar a day. Walk a mile a day. Read an article a day. That is a simple plan with achievable goals. Someone is going to develop a plan that will take them into the future of their dreams. Let it be you!

The third is to begin to act. All of the great ideas, without action, become stale and useless. The key to turning dreams into reality is action. People who have great ideas are a dime a dozen. People who act on their dreams and ideas are the select few, but they are the ones who gain the wealth and wisdom that is available. Someone will act today. Let it be you.

My encouragement to you is to stop looking at others who live the good life, wishing that you were as well, and instead begin to commit to your improvement, develop a plan and act on it. Someone is going to. Let it be you!

Jim Rohn
1930-2009, Author and Speaker
www.jimrohn.com 


Have a question or a comment, leave it below or e-mail me at d.rosenfelt@CFOMadeEasy.com

Warmly -

Debbie Rosenfelt
Chief Heart Officer