Smart Financials for Business Growth with Lawrence Chester, President of CFO Simplified

Lawrence Chester has served as a CFO for 25 years for companies such as Colovos Company, Republic Windows and Doors, United Service Companies, and High Sierra Sport Company, helping them eliminate losses and improving financial operations and reporting. He is an intuitive businessman, able to grasp complex situations, driving to the heart of the matter while developing creative solutions to problems. 

Realizing that he enjoyed the challenges of helping companies that were working their way through a crisis, Lawrence joined a bankruptcy trustee for several years, analyzing the financial condition of client companies and managing them through those difficult times. Soon after that, he struck out on his own, forming CFO Simplified’s team of CFOs.

CFO Simplified helps their clients get clarity on their business’ performance, and the core of CFO Simplified’s focus is working with small to mid-sized businesses in cash flow improvement, strengthening internal controls, improving profitability, and clarifying financial reporting. Since starting CFO Simplified, Lawrence has been involved in Business Turnaround, and Mergers and Acquisitions, in addition to Financial and Operations Management for his clients.

In this episode…

When you look at your financial statements, do you see the information you need to help you make changes today that will affect your business profitability tomorrow? If your financial statement isn't telling you what's happening in your business, then there's a problem. 

According to Lawrence Chester, the President of CFO Simplified, there are two basic ways of looking at your financials: one is on a cash basis, and the other is on an accrual basis. But what do these two options mean and which one should you use to pay for recurrent expenditure like taxes? 

Learn more about smart financials for business growth on this episode of the Inspired Insider podcast. Tune in as Dr. Jeremy Weisz and his Rise25 co-founder, John Corcoran talk with Lawrence Chester, President of CFO Simplified, about the pain points businesses face with their financials, the common mistakes they make, and how to rejig your financials for business growth.