Vail Valley Bizwatch: Larry Strauss of B2B CFO
August 25, 2010
Business name: B2B CFO.
Date opened: B2B CFO was founded in 1987. I joined as a partner in October 2009.
Owner: Larry J. Strauss.
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What goods or services do you provide? I serve owners of emerging and mid-market companies who want to increase cash, profitability, sales, and company value. Every company, regardless of its size, needs a Chief Financial Officer. Every company can now afford one with with B2B CFO.
I provide financial, strategic, and technology solutions to owners and CEO’s of companies in the areas of cash improvement, banking and lending, financial management, profit, operations and sales improvement, strategic and business planning, and exit strategy. Business owners not only benefit from my extensive expertise, but also from the national resources of the firm.
What strategy do you use to differentiate your business from your competition?
•I provide a free, no-obligation financial assessment to identify areas to improve profitability, cash, growth, and company infrastructure. This gives companies a free roadmap to operational improvement.
• I focus on the future and the business owner’s goals; no audits, reviews, or tax returns.
• My goal is to be a trusted, long-term business adviser, not here today and gone tomorrow. I’ll be involved as long as it takes for the business owner to achieve their goals.
• I am a partner in a national firm. In August 2010, we reached 170 partners in 39 states. This means I can bring the best solutions and experience to almost all business types and industries via confidential collaboration with my partners.
• I don’t require a contract. With a handshake, I will begin to help the business owner solve some of their immediate concerns.
What philosophy do you follow in dealing with your customers? What can your customers expect from you? My core principles are honesty, integrity, and objectivity. B2B CFO has a proven record since 1987. Many companies have bookkeepers or controllers who record financial history. These firms lack financial strategy and can gain significant profit improvement by utilizing a part-time CFO. The profit improvement pays the CFO’s fees many times over.
Tell us a little about your background, education and experience: I have more than 30 years of financial, general management, and transaction experience in biotechnology, medical devices, computer hardware and software, manufacturing, and service industries. I have particular expertise in:
• Financial function planning, building, and management in high growth companies.
• Public and private equity and debt financing, including IPO, follow-on public offering, Venture Capital and bank debt.
• Mergers and acquisitions.
• Turnarounds and start-ups.
I earned a master’s degree in industrial engineering and operations research from the University of California at Berkeley, and a bachelor’s degree in mathematics, cum laude, from Claremont McKenna College.
What is the most humorous thing that has happened at your business since you opened? At our partners’ meeting in San Diego, Dave Sherman, a speaker on networking asked my bride and me, “What is your favorite movie?” My wife looked at me seeking her answer. I said, “Soap Dish.” Dave burst out laughing because in all the years he’s asked that question, no man has ever answered, “Soap Dish.” Of course, I explained it was my wife’s choice. We all had a good laugh.