profitability coach Archives - Business RadioX ®

What’s the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

November 19, 2024 by John Ray

North Fulton Studio

What's the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

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What’s the Difference Between a Profitability Coach and a Part-Time CFO?, with Bill McDermott, Host of ProfitSense

In a commentary from a recent episode of ProfitSense, Bill McDermott, The Profitability Coach, outlines the difference between a profitability coach and a part-time CFO, and the circumstances that necessitate hiring one or the other.

Bill’s commentary was taken from this episode of ProfitSense.

ProfitSense with Bill McDermott is produced by John Ray and the North Fulton affiliate of Business RadioX® in Alpharetta.

Transcript

What’s the difference between a profitability coach and a part-time CFO? We get that question a lot. Business owners often struggle with financial management, making external help crucial. Two common options are hiring a part-time CFO or a business profitability coach. Here are some main differences between the two to help you determine which one best fits your needs.

A part-time CFO specializes in financial management, such as budgeting, reporting, cash flow management, and strategic financial planning. They typically provide high-level financial insights and help with long-term financial strategy.

Meanwhile, a business profitability coach focuses on improving overall business profitability by optimizing processes, increasing sales, reducing costs, and enhancing operational efficiency. They focus on practical, actionable steps to improve day-to-day operations and drive immediate profitability gains.

Of course, there are differences in the engagement duration for each, as well as the cost. Part-time CFOs are often engaged on an ongoing basis to provide continuous financial oversight and strategic planning. They’re generally more expensive due to their specialized expertise and the comprehensive nature of their responsibilities.

Business profitability coaches are typically hired for projects to address specific profitability issues and implement improvement plans quickly. They are usually more affordable, focusing on immediate practical strategies.

If you’re struggling to manage the financial side of your business, get help today for more insight. Check out theprofitabilitycoach.net.

About ProfitSense and Your Host, Bill McDermott

Follow this link to find the show archive.

The show is presented by The Profitability Coach. The Profitability Coach helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business.

Bill McDermott is the Founder and CEO of The Profitability Coach. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center, Gwinnett Habitat for Humanity, and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University, and he and his wife, Martha, have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Instagram and follow The Profitability Coach on LinkedIn.

Vivian Dempsey, Wilson Lewis, and Scott Williford, vLink Solutions

May 12, 2023 by John Ray

North Fulton Studio

Vivian Dempsey, Wilson Lewis, and Scott Williford, vLink Solutions

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Vivian Dempsey, Wilson Lewis, and Scott Williford, vLink Solutions (ProfitSense with Bill McDermott, Episode 45)

On this episode of ProfitSense, host Bill McDermott welcomed Vivian Dempsey, Partner at Wilson Lewis, and Scott Williford, CEO of vLink Solutions. Vivian talked about Georgia’s personal income tax rebate, the advantages and disadvantages of an S Corp, the IRS tax inflation adjustments for the tax year 2023, and much more. Scott discussed his experience in being an entrepreneur for over 30 years, lessons he has learned from past startups, marketing trends, and much more. Bill closed the show by talking about how to know if your business is scalable.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Wilson Lewis

Wilson Lewis, a Gwinnett-based Certified Public Accounting (CPA) firm, provides a variety of tax, accounting, and consulting services to meet the changing needs of both individuals and businesses. There are services designed to help address “once in a lifetime” issues such as estate, succession, and retirement planning, fraud prevention and detection, and even strategic business planning. The combination of these provides the direction and confidence that many seek in their accounting relationships. While the main work is ensuring accurate and timely reports and tax filings, team members are proactive and often bring new ideas to the table when appropriate. Concurrently, there is also an emphasis on consistent communication throughout the year to ensure new opportunities are properly leveraged.

Wilson Lewis is a philanthropic star in Atlanta’s business community and proudly supports Rainbow Village, Arthritis Foundation, Ahimsa House, CHOA Children’s Healthcare of Atlanta, Happy Feat, and The NSORO Foundation to name just a few. The firm is also very involved with the Gwinnett Chamber of Commerce and has been named The Best of Gwinnett Accounting Firms 2016-2022.

If you are looking for a proactive CPA firm focused on client service and capable of growing with your needs, then Wilson Lewis is the firm to consider. With locations in Atlanta, Duluth, Sandy Springs, and availability online, Wilson Lewis is right around the corner. Additional information is available at wilsonlewis.com or by calling 770-476-1004.

Website | Facebook | Twitter | LinkedIn

Vivian Dempsey, Partner, Wilson Lewis

Vivian Dempsey specializes in federal and state compliance and tax consulting services. Her work spans the full spectrum, including corporations, partnerships, limited liability companies, trusts and estates, not-for-profit, and individual planning and returns. Vivian is a graduate of Georgia State University with a Bachelor of Business Administration in Accounting.

She came to Wilson Lewis in 2014 from a firm in Atlanta and was named partner in 2017. Vivian’s professional memberships include the American Institute of Certified Public Accountants and the Georgia Society of Public Accountants.

Vivian currently resides in Buford, Georgia with her husband, Robert, and their 5 children.

vLink Solutions

Engaging your audience whether they are prospects, employees, or event attendees is critical to reaching your goals. Video and live streaming are powerful communication tools but they can be complicated and expensive. vLink Solutions has mastered the art of creating effective video and live streams at a price point that’s affordable. Let us help you engage your audience.

vLink produced over 1500 videos and live-streamed over 4000 hours in 2022. They are the owners of vlink Events, a complete virtual events platform.

vLinks current and past clients include UPS, Google, Comcast, LeasePlan, Fleetcor, ParkMobile, and many many more. For more information about vLink please visit www.vlinksolutions.com.

Website | Facebook | Twitter | LinkedIn

Scott Williford, CEO, vLink Solutions

Scott is a serial entrepreneur, consultant, and family man. He has played a major role in several successful organizations and helped countless others as an investor, consultant, and executive. Scott has a passion to help businesses and professionals differentiate themselves in their marketplace. He is currently the CEO of vLink Solutions.

vLink is a video marketing agency that helps businesses create cost-effective, high-quality videos, virtual events, and live streams. As CEO and Founder of vLink Solutions, Scott is the visionary leader and spokesperson for the company.

Scott is also the managing partner in Iuvo, LLC, a boutique management consulting practice, specializing in all areas of technology, marketing, business planning, and more. Scott brings a wealth of knowledge from his CEO and COO background that provides clients access to a unique blend of technology, marketing, sales, and operational expertise.

About ProfitSense and Your Host, Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and business owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott is the Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center and Gwinnett Habitat for Humanity and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University and he and his wife, Martha have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

The Profitability Coach’s 14th Anniversary, with Bill McDermott, Host of ProfitSense

May 1, 2023 by John Ray

North Fulton Studio

The Profitability Coach's 14th Anniversary, with Bill McDermott, Host of ProfitSense

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The Profitability Coach’s 14th Anniversary, with Bill McDermott, Host of ProfitSense

In this commentary from a recent episode of ProfitSense, Bill expresses gratitude as he celebrates 14 years as The Profitability Coach, helping businesses become more profitable.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott, The Profitability Coach

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott is Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Time Management and Delegation, with Bill McDermott, Host of ProfitSense

March 22, 2023 by John Ray

North Fulton Studio

Time Management and Delegation, with Bill McDermott, Host of ProfitSense

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Time Management and Delegation, with Bill McDermott, Host of ProfitSense

In this commentary from a recent episode of ProfitSense, Bill urges CEOs to assign priorities to their to-do lists. He says that if you do this, you will find you are more efficient and effective over time and enjoy a higher quality of life. Bill also makes another vital point: only do what you can do and delegate the rest.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Mark Beal, Instead of Flowers

March 10, 2023 by John Ray

North Fulton Studio

Mark Beal, Instead of Flowers

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Mark Beal, Instead of Flowers (ProfitSense with Bill McDermott, Episode 43)

On this episode of ProfitSense, host Bill McDermott welcomed Mark Beal, CEO of Instead of Flowers. Mark discussed the story behind Instead of Flowers and how he came into his role, what makes Instead of Flowers unique, who his typical customers are, why a gifted meal from Instead of Flowers is received with such joy, and much more. Bill ended the show by talking about time management and delegation.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Instead of Flowers

For over 20 years, Instead of Flowers has elevated the art of gift-giving by delivering kindness from our kitchen. Our gourmet meals are the perfect way to celebrate life’s most special moments. Each delicious dinner is carefully curated by our culinary team with the freshest of ingredients, made to order just for you to enjoy in the comfort of your home. From the moment the meal arrives, the experience begins with the perfect packaging, personalized note, and easy, heat-and-eat serving instructions. Our meals are guaranteed to make your day just a little bit better.

It is our promise that each meal will truly matter to the person who receives it. We are not only delivering dinner; we are delivering the gift of time around the table with the people that matter the most. Let us do the cooking – it’s the thought that counts!

Instead of Flowers is the perfect way to celebrate life’s most memorable moments or simply show you care! Honor parents who just brought home a new baby. Make moving into a new home even easier. Say Happy Birthday or Happy Anniversary. Offer sympathy during a challenging time. Lend support through medical hardship. Say Thank You. Send a gift for no other reason than “just because.” There is always a reason to send a meaningful meal, made with love.

Website | Facebook | Twitter | Instagram | LinkedIn

Mark Beal, CEO, Instead of Flowers

Mark Beal is the CEO and co-owner of Instead of Flowers. He leads the company in its 25th year, working to grow an established and respected company to serve more households and new markets.

Mark started as a customer of Instead of Flowers, having gifted gourmet meals countless times as a financial advisor. He brings that level of service and relationships to the company and its team.

About ProfitSense and Your Host, Bill McDermott

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Bill McDermott, The Profitability Coach and Host of ProfitSense

January 25, 2023 by John Ray

North Fulton Business Radio

Bill McDermott, The Profitability Coach and Host of ProfitSense

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Bill McDermott, The Profitability Coach and Host of ProfitSense (North Fulton Business Radio, Episode 603)

Bill McDermott, Founder and CEO of The Profitability Coach and host of ProfitSense, joined host John Ray on this episode of North Fulton Business Radio. Bill discussed his work as a profitability coach, how one client’s request for help pulled him into exit planning, what differentiates his exit planning advisory services, success stories, and much more.

North Fulton Business Radio is produced and broadcast by the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.

The Profitability Coach

When a business owner imagines the business of their dreams, they want to do everything they can to make it happen. In order to do that, they need to understand the operational side of the business, knowing where the money flows and the potential pitfalls that surface when you want to be all things to all people. It shouldn’t be so hard to have a business that bring in more money than it spends.

The Profitability Coach simplifies complex financial concepts and break them down into easy to understand knowledge.

Website | LinkedIn | Instagram

Bill McDermott, Founder and CEO, The Profitability Coach

Bill McDermott is the Founder and CEO of The Profitability Coach. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do.

Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill is also the host of ProfitSense, a podcast produced by North Fulton Business RadioX.

LinkedIn | Twitter

Questions and Topics in this Interview

How Bill’s practice started after a three decade plus career in banking
How he works with businesses as their profitability coach
How one client’s request for his help in exit planning pulled him in that direction
What Bill’s exit planning services involve and what differentiates him
The need for exit planning
Success stories

North Fulton Business Radio is hosted by John Ray and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

Since 2000, Office Angels® has been restoring joy to the life of small business owners, enabling them to focus on what they do best. At the same time, we honor and support at-home experts who wish to continue working on an as-needed basis. Not a temp firm or a placement service, Office Angels matches a business owner’s support needs with Angels who have the talent and experience necessary to handle work that is essential to creating and maintaining a successful small business. Need help with administrative tasks, bookkeeping, marketing, presentations, workshops, speaking engagements, and more? Visit us at https://officeangels.us/.

Setting a Vision for 2023, with Bill McDermott, Host of ProfitSense

January 23, 2023 by John Ray

North Fulton Studio

Setting a Vision for 2023, with Bill McDermott, Host of ProfitSense

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Setting a Vision for 2023, with Bill McDermott, Host of ProfitSense

In this commentary from a recent episode of ProfitSense, Bill talks about setting a vision for 2023. He suggests to start dreaming, visualize your company’s success in your mind, convert your dreams into goals, and those goals into plans. Dream courageously! Fortune favors the brave.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Paul Zanardo, Zanardo Dezignz, Ed Mysogland, Indiana Business Advisors, and Jim Pursley, Factory Automation Systems

January 12, 2023 by John Ray

North Fulton Studio

Paul Zanardo, Zanardo Dezignz, Ed Mysogland, Indiana Business Advisors, and Jim Pursley, Factory Automation Systems

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Paul Zanardo, Zanardo Dezignz, Ed Mysogland, Indiana Business Advisors, and Jim Pursley, Factory Automation Systems (ProfitSense with Bill McDermott, Episode 41)

On this episode of ProfitSense, host Bill McDermott welcomed three esteemed business leaders. Paul Zanardo, Zanardo Dezignz, discussed what sets his digital branding company apart, how his pricing is structured, how he gives back to the community, and more. Ed Mysogland, Indiana Business Advisors, shared how business owners can prepare for the greatest wealth transfer in history, what business owners should expect regarding sale values, what types of businesses sell, and much more. Finally, Jim Pursley, Factory Automation Systems, discussed his company’s process automation services for manufacturing, the company’s ownership transition in 2022, and more. Bill closed the show talking about setting a new vision in 2023.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Zanardo Dezignz

Zanardo Dezignz LLC is the Lawrenceville based professional service provider offering fully integrated digital branding solutions through website development, SEO, graphic design, printing, and digital marketing. Some of their clients include Above & Beyond Cabinetry LLC, K&J Mechanical, Joe Sells GA with Keller Williams, and Hickory’s Trail.

Website | Facebook | Instagram | LinkedIn | Twitter

Paul Zanardo, CEO / Founder, Zanardo Dezignz

Paul Zanardo is the CEO and founder of Zanardo Dezignz LLC. He has over 20 years of sales management and marketing experience at companies such as TruGreen and Luxottica with a proven track record of growth in the areas of marketing and new client revenue.

He excelled in these fields but often thought about how he could improve the overall customer experience and desired to spend more time with his family. After lots of prayer and soul searching, he decided to go back to school and get his degree in graphic design with a study in website development.

His company is now quickly approaching 8 years of serving his community as a professional service provider. His wife, Amy, is their lead graphic designer and content editor. She earned this position by helping him study for his degree and collaborating with him through the entire process. Their son Anthony is a sweet, creative 7-year-old that also aspires to own a creative business as well.

Indiana Business Advisors

Indiana Business Advisors is a 41-year-old business brokerage representing small and mid-size businesses. It is the largest business brokerage in Indiana representing manufacturing, distribution, service, and construction-support businesses. To date, IBA has sold over 2200 businesses.

Website | LinkedIn | Facebook | Twitter

Ed Mysogland, Managing Partner, Indiana Business Advisors

Ed is a thirty year veteran of selling small and midsized companies. He has professional designations in business valuation, equipment appraising, and exit planning.

He has a weekly podcast, How to Sell a Business Podcast, where he interviews buyers, sellers, and advisors about making a business more valuable and saleable. Most recently, he has been preparing to launch BizSaleByOwner, an online marketplace with pay-for-service advisors to support the sale.

Factory Automation Systems

Factory Automation Systems is a manufacturing controls systems integrator. They provide industrial automation and robotic solutions for top manufacturers in the US and world-wide.

Website | Facebook | LinkedIn

Jim Pursley, President, Factory Automation Systems

Jim Pursley is currently President of Factory Automation Systems (FAS). He joined FAS as co-op student in 1997. Since graduating from Georgia Tech in 2000, Jim has held various engineering, sales, and management roles.

In October of 2022, Jim and three business partners purchased FAS from the founders of the company.

About ProfitSense and Your Host, Bill McDermott

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.

Red Light Bank Words to Watch Out For, with Bill McDermott, Host of ProfitSense

January 3, 2023 by John Ray

North Fulton Studio

Red Light Bank Words to Watch Out For, with Bill McDermott, Host of ProfitSense

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Red Light Bank Words to Watch Out For, with Bill McDermott, Host of ProfitSense

In this commentary from a recent episode of ProfitSense, Bill talks about red light words that banks use like covenant violation, covenant default, demand payment, and forbearance agreement. He also suggests looking back at your bank’s commitment letter to see if you have a cash flow covenant.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Bill’s commentary was taken from this episode of ProfitSense.

About ProfitSense and Your Host, Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Connect with Bill on LinkedIn and Twitter and follow McDermott Financial Solutions on LinkedIn.