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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
A couple times a year I pull out Ray Dalio’s book Principles. It is a fantastic book. Especially if you are the kind of person who can’t help but work on improving your business (and your life). Here are some quotes to ponder from the book. (These quotes start on... Continue reading
Posted Sep 30, 2019 at Philip Campbell's Blog
I am a big believer in the power of goals. For me, as a young CPA back in the 1980s, goals became the tool I used to grow and succeed in my career. I believed that I could use goals to ensure that my trajectory as a young business professional... Continue reading
Posted Apr 24, 2019 at Philip Campbell's Blog
Warren Buffett popularized the term “moat”, or “economic moat”, as a way of describing an advantage, or protection, a business has over its competitors. He believes that the size of the “moat around a business” tells a lot about how viable the business will be as time goes by. Here... Continue reading
Posted Apr 22, 2019 at Philip Campbell's Blog
Most entrepreneurs and business owners rarely consider how much they have personally guaranteed. And they are shocked at the total dollar amount they are personally responsible for (despite doing business as a corporation or LLC). One reason the number is so surprising, and so big, is because the guarantees have... Continue reading
Posted Apr 15, 2019 at Philip Campbell's Blog
One thing is true in life and in business - time is going to pass. Your business is going to generate financial results of some sort or another as each month goes by. The future is going to become the present… very soon. The big question, when it comes to... Continue reading
Posted Apr 10, 2019 at Philip Campbell's Blog
The Cash Flow Focus Report is a simple, common sense tool for understanding your cash flow that only takes 10 minutes a month to complete. It’s a big picture tool I use to understand the drivers of cash flow and put my finger on the pulse of a company’s cash... Continue reading
Posted Apr 8, 2019 at Philip Campbell's Blog
Some words just seem odd next to each other. Found missing Same difference Reality television Long shorts Silent alarm Adult male 🙂 Each word just looks a little funny next to its opposite. Here are some words that are not only odd when put next to each other, they are... Continue reading
Posted Apr 3, 2019 at Philip Campbell's Blog
I routinely hear from business owners that say, “My business is profitable… but for some reason cash is always tight.” They feel like they have a “cash flow leak” somewhere in their business. But they are unsure where the leak is. Or why it is happening. Or how to fix... Continue reading
Posted Apr 1, 2019 at Philip Campbell's Blog
“To really succeed in whatever is the business of your choice, you have to come to understand and utterly absorb into your being the fundamentally true idea that your activities in your business are virtuous and moral, provided of course that you conduct your business affairs honestly and honorably. Absorb... Continue reading
Posted Mar 27, 2019 at Philip Campbell's Blog
Imagine the P&L of two competing businesses. Company #1 has annual sales of $5,000,000, owner salaries of $200,000, and a profit for the year (after taxes) of $600,000. Company #2 has annual sales of $5,000,000, owner salaries of $100,000, and a loss for the year of $200,000. Question: Which business... Continue reading
Posted Mar 25, 2019 at Philip Campbell's Blog
In Warren Buffett’s 2007 Letter to Shareholders of Berkshire Hathaway, he included a section where he shared his and Charlie Munger’s view on the characteristics of a great business, a good business, and a gruesome business. He used their See’s Candy business as an example of a great business. It’s... Continue reading
Posted Mar 18, 2019 at Philip Campbell's Blog
The financial success of your company will ultimately be defined, financially speaking, by the amount of excess cash that it creates and distributes to its owners. The ability of your business to generate excess cash will benefit you in two ways. First, excess cash can be distributed to owners. These... Continue reading
Posted Mar 11, 2019 at Philip Campbell's Blog
You haven’t bought into the lie that understanding and managing the cash flow of your business is smart, have you? It’s a myth that cash flow is important in business. It’s a myth that you should pay attention to cash flow. And the biggest myth of all is the suggestion... Continue reading
Posted Mar 5, 2019 at Philip Campbell's Blog
Creating a healthy personal net worth has always been important to me. Just the idea that I could make good money throughout my career but have very little of it saved and invested over time, always sounded depressing to me. As a result, I have always had written goals for... Continue reading
Posted Mar 4, 2019 at Philip Campbell's Blog
I’m a huge believer in the power of goals. Both personal and business goals. Goals are at the driving force in what Earl Nightingale refers to as The Strangest Secret in life: “You become what you think about most of the time.” In short, you become, or create, what you... Continue reading
Posted Feb 25, 2019 at Philip Campbell's Blog
Here is a great perspective on growth from the book Company of One by Paul Jarvis: “It's assumed that hard work and smart thinking always result in business growth. But the opposite is often true: not all growth is beneficial, and some growth can actually reduce your resilience and your... Continue reading
Posted Feb 18, 2019 at Philip Campbell's Blog
I am a huge fan of having a strong balance sheet in business. It provides cushion against surprises. It is an indicator of strength to outside investors. It protects the owners of the business from the normal (or surprise) ups and downs inherent in every business. I am also a... Continue reading
Posted Feb 11, 2019 at Philip Campbell's Blog
The path to “having money” is creating (growing) a strong net worth. Both personally and in your business. Do you have a goal for what you want your net worth to be? Do you know what your net worth is today? Would you like to have a net worth of:... Continue reading
Posted Feb 4, 2019 at Philip Campbell's Blog
Sometimes our short-term need for profits conflicts with what we should be doing to make our business strong for the long-term. Warren Buffet said it beautifully in his 2005 Letter to Shareholders. “Every day, in countless ways, the competitive position of each of our businesses grows either weaker or stronger.... Continue reading
Posted Jan 28, 2019 at Philip Campbell's Blog
Money means lots of things… to lots of people. For some, it means freedom, security, or the ability to take risks. For others, it means hassles, problems, and worries. I have created a super-short, 1-minute survey to learn more about how my readers view the impact of money in their... Continue reading
Posted Oct 8, 2018 at Philip Campbell's Blog
Dashboards are a powerful tool for helping your CFO turn numbers into insight. Dashboards help take the numbers that accountants and CFOs work with every day and turn them into something more like a visual representation of the data, almost a visual story, that resonates with financial and non-financial people.... Continue reading
Posted Oct 1, 2018 at Philip Campbell's Blog
Do you ever feel like certain parts of your business are out of control? Here’s a great quote from B.C. Forbes: "A business, like an automobile, has to be driven in order to get results.” It’s important to step back from time to time, take a deep breath, and say... Continue reading
Posted Sep 24, 2018 at Philip Campbell's Blog
This is a picture of my newest piece of art in my office. (I got it at Ikonick, a very cool store for fun canvas art. I especially enjoy their art about money and business.) I love that prescription. Take one stack of money by the hundred twice daily. Each... Continue reading
Posted Sep 17, 2018 at Philip Campbell's Blog
I will be speaking at the CFO/Controller Conference in Austin, Texas on September 20, 2018. I will kick off the conference at 8:30 am with a 50-minute session. Here is the description for my presentation. USING COOL DASHBOARDS TO DRIVE FINANCIAL PERFORMANCE New Business Intelligence software is making it easier... Continue reading
Posted Sep 10, 2018 at Philip Campbell's Blog
Most entrepreneurs and business owners, and some private company investors, wait until they see profitability or cash flow problems in their financial statements before they finally conclude that they need to make changes in the business to improve results. But most of those profitability and cash flow challenges can be... Continue reading
Posted Sep 3, 2018 at Philip Campbell's Blog