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Philip Campbell
Austin, Texas
Experienced Financial Consultant
Interests: A sloppy bookkeeping and finance function will drag you down? It handcuffs your ability to grow and attract capital and talent? It hurts your credibility with your banker, your other lenders, your investors, your partners, and all those in the financial community you need in order to grow your business successfully. It sucks the life out of you. My passion and focus is helping you get the bookkeeping and financial side of your business under control. What a waste of smarts and talent to work so hard to create a successful company only to allow the financial function to underperform and drag you down. I help you fix that and get back on the right track.
Recent Activity
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Do you know what kind of nasty surprises are hiding in your balance sheet? When was the last time your balance sheet got a good scrubbing? Here’s a little accounting secret that few entrepreneurs or CEOs truly understand. Financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP) are... Continue reading
Posted 6 days ago at Philip Campbell's Blog
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With the launch of my new book, A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher, I have been working with my friends at Kahuna Accounting to incorporate the financial forecasting principles I use to drive profitability and cash flow into... Continue reading
Posted Jun 12, 2017 at Philip Campbell's Blog
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A couple times year I pick up my copy of How to Sell At Margins Higher Than Your Competitors and go through the sections I have highlighted and marked up. I always feel energized and recommitted to the importance of pricing after I read through the book for a few... Continue reading
Posted Jun 5, 2017 at Philip Campbell's Blog
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The purpose of a reliable financial forecast is to help you make better, faster business decisions. Most entrepreneurs and business owners, and some private company investors, wait until they see profitability or cash flow problems in their historical financial statements before they finally conclude that they need to make changes... Continue reading
Posted May 29, 2017 at Philip Campbell's Blog
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Charlie Rose did an amazing interview with Jeff Bezos, founder of Amazon.com, at the Economic Club in New York in October 2016. I absolutely loved every minute of it. And I have watched it more than once (and will watch it more in the future). 😊 Charlie Rose started the... Continue reading
Posted May 22, 2017 at Philip Campbell's Blog
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I’m proud to be one of the speakers at the 16th Annual Live Future Ready Conference in Chicago, IL. The conference will be held from June 20 – 22, 2017. My session will be June 22, 2017. In my session, I’ll show you how to create a reliable financial forecast... Continue reading
Posted May 15, 2017 at Philip Campbell's Blog
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Jack Sweeney’s mission at the CFO Thought Leader Podcast is to bring personal firsthand accounts of CFOs who are driving change within their organizations. The content is great for CFOs and CEOs who value the role a CFO can play in driving growth, profitability, and cash flow in their business.... Continue reading
Posted May 8, 2017 at Philip Campbell's Blog
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Life, business, and money all move in a rhythm… a cycle. So does financial management (and financial forecasting). I refer to this natural monthly financial rhythm in business as the TARGET, MONITOR, ADJUST cycle. It’s about setting financial goals and TARGETS, MONITORING forecast and actual financial results, and making ADJUSTMENTS... Continue reading
Posted May 1, 2017 at Philip Campbell's Blog
The purpose of benchmarking your financial performance is to find opportunities to improve your profitability and cash flow. The process of benchmarking is to compare your results on certain key performance measures against your past results and/or the results of other companies like yours so you can identify opportunities for... Continue reading
Posted Apr 24, 2017 at Philip Campbell's Blog
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For lots of business owners, managing the financial side of their business creates that “my brain’s about to explode” experience that’s all too common in the small business world. I’ve seen it firsthand throughout my career. As a result, managing cash flow and focusing on the true drivers of profitability... Continue reading
Posted Apr 17, 2017 at Philip Campbell's Blog
Does your accounting department help you grow and improve your financial results? Do you consider them an important asset in your quest to create a company that you can be proud of? A company that takes care of you financially? The key to turning your accounting department into a strategic... Continue reading
Posted Apr 10, 2017 at Philip Campbell's Blog
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Too many entrepreneurs and CEOs today are feeling more like passengers than drivers in their business. They’re staring at their rearview mirror as they bounce along in the passenger seat. Their company is careening along on the highway of business as they wonder and worry about where their business might... Continue reading
Posted Apr 3, 2017 at Philip Campbell's Blog
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Step 1 in my 3-Part Plan to Breathe Financial Life Back into Your Business is about assessing, then improving, the financial health of your business. Assessing the financial health of your business is all about confronting reality. It is the first step to improving your profitability and cash flow. Confronting... Continue reading
Posted Mar 27, 2017 at Philip Campbell's Blog
Here is a quick thought about the importance of making money in your business. This quote is from one of my favorite authors, Brian Tracy (author of too many books to list individually): "The whole aim of starting a business is to develop a consistent, predictable source of cash flow... Continue reading
Posted Mar 20, 2017 at Philip Campbell's Blog
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There is a difference between a goal (financial target) and a reliable financial forecast. In the book Implementing Beyond Budgeting: Unlocking the Performance Potential, Bjarte Bogsnes does a beautiful job of clarifying what a forecast is… and what it is not. "Some would call 'on course to hit a rock'... Continue reading
Posted Mar 13, 2017 at Philip Campbell's Blog
Everyone running a business (small or large) needs to answer two financial questions at the end of the month: What happened (last month)? What's about to happen (over the next few months)? Most people seldom ask or answer the second question. That's why so many business owners and CEOs are... Continue reading
Posted Mar 6, 2017 at Philip Campbell's Blog
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I will be speaking at the CFO Conference in Fort Worth, Texas on March 29,2017. The conference is put on by the Fort Worth Chapter of the Texas Society of CPAs. I will kick off the conference at 8:30 am with a one hour session on the power of financial... Continue reading
Posted Feb 27, 2017 at Philip Campbell's Blog
The ultimate goal of financial forecasting is to help you improve your profitability and cash flow. Of course, financial forecasting isn't going to magically drive your revenues higher or your expenses lower overnight. Financial forecasting is a tool and a thought process. Improving profitability and cash flow requires action. But... Continue reading
Posted Feb 20, 2017 at Philip Campbell's Blog
Let's say you are enjoying a nice sunny day at the Grand Canyon. It is mid-morning and you are looking out over the South Rim. You want to take a picture to capture the beauty you are surrounded by and share it with your friends and family. But it's hard... Continue reading
Posted Feb 13, 2017 at Philip Campbell's Blog
Financial information becomes powerful when it's simple and easy to digest, understand, and act on. Are your financial statements (and related financial information) easy to understand and act on? Do you have access to insightful financial information every month that helps you make better business decisions? It's All About Decision-Making... Continue reading
Posted Feb 6, 2017 at Philip Campbell's Blog
I define a serious-minded entrepreneur as a person running a company who pays close attention to the two "factories" that exist in every business: The customer factory and the money factory. The customer factory is the part of your business dedicated to creating happy customers. A happy customer is a... Continue reading
Posted Jan 30, 2017 at Philip Campbell's Blog
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I love this quote from Scott Adams (the creator of Dilbert) in his book How to Fail at Almost Everything and Still Win Big: "I found accounting nearly impossible to learn because of the bubbling moat of boredom that surrounds the entire field. But a basic understanding of accounting is... Continue reading
Posted Jan 23, 2017 at Philip Campbell's Blog
Are you happy with your net worth? Do you have a goal for what you would like your net worth to be in five years? Do you know what your net worth is right now (in your business and personally)? Your Net Worth To me, one of the best measures... Continue reading
Posted Jan 16, 2017 at Philip Campbell's Blog
Your ability to generate strong cash flows in your business is determined by how well you: Drive profitability – Over the long-term, generating strong profitability is the most important driver of cash flow. See my post on the four drivers of profitability. Convert assets into cash – The speed in... Continue reading
Posted Jan 9, 2017 at Philip Campbell's Blog
The profitability of your business is driven by how well you: Get and keep customers. The ultimate test of your business model is whether you can consistently and predictably get and keep customers. Generate strong gross margins. Having strong margins is about selling at a price that provides value for... Continue reading
Posted Jan 2, 2017 at Philip Campbell's Blog