Lowell Mora joins to discuss the critical role of finance in business strategy, particularly for family-owned businesses. Lowell shares his extensive experience as a CFO, emphasizing the importance of financial planning, analysis, and the need for businesses to adapt and prepare for transitions. The conversation explores the nuances of financial functions, the significance of cash flow forecasting, and the complexities of business valuation, including the impact of diversification on risk and opportunity. Lowell discusses various aspects of business strategy, including vertical integration, learning from mistakes, diverse sales approaches, optimizing operations, navigating business transitions, and building trust in transactions. He emphasizes the importance of understanding the unique needs of different sales processes and the necessity of a holistic approach to operational optimization. Additionally, he explores the complexities involved in selling a business and the creative solutions that can arise during this process.

Listen here:

Apple Podcasts: link
Spotify: link

Links:

• Edison Manufacturing Exchange: https://brandonbartneck.substack.com/publish/home\
• linkedin.com/in/brandonbartneck/
• https://www.impactcfo.net/

Takeaways

• Finance is essential for developing good products and scaling businesses.
• Family-owned businesses face significant risks without proper planning.
• The finance function should be seen as a strategic partner, not just a control mechanism.
• Effective financial planning includes both historical analysis and forward-looking strategies.
• Cash flow forecasting is crucial for understanding financial health and planning ahead.
• A budget should be dynamic and regularly updated to reflect current conditions.
• Shareholder value should be a primary focus for all business decisions.
• Customer concentration poses a significant risk to business stability.
• Diversification should be strategic and based on core competencies.
• Successful businesses leverage their existing strengths when exploring new opportunities. Vertical integration can capture margins across the supply chain.
• Learning from mistakes is crucial in business.
• Different products may require distinct sales strategies.
• Operational optimization is key to financial performance.
• Understanding personal goals is essential for business transitions.
• Creative solutions can enhance business sales outcomes.
• Trust is vital in business negotiations.
• Sales approaches must align with customer relationships.
• A holistic view is necessary for operational improvements.
• Financial planning is critical for successful business exits.

Lowell Mora Bio:

Lowell Mora, President of Impact CFO, brings a wealth of expertise in leading small to mid-sized businesses. His extensive experience spans both family-owned and private equity-owned companies, making him a versatile and strategic advisor to CEOs.

Lowell excels in driving record growth and profitability, particularly in equipment business models, working with manufacturers and industrial products, percentage of completion accounting, and managing multimillion-dollar contracts. He is also proficient in leading ERP implementations.

With his deep financial leadership across diverse industries, Lowell offers a unique perspective on every project. As a Fractional CFO, he provides invaluable financial oversight, guiding numerous businesses through complex transactions and strategic initiatives.

His expert financial guidance has helped businesses navigate transitions and achieve their financial goals with precision and expertise. Focused on driving growth and profitability, Lowell collaborates with businesses of all sizes to implement cost-effective strategies and streamline operations, ensuring long-term success.

About Impact CFO

Impact CFO, led by President Lowell Mora, is a distinguished financial advisory firm specializing in guiding small to mid-sized businesses through strategic growth and profitability. With extensive experience in both family-owned and private equity-owned companies, Lowell Mora brings a unique blend of expertise and insight to every client engagement.

At Impact CFO, we understand the intricacies of equipment business models, manufacturing processes, industrial products, and percentage of completion accounting. Our proficiency in managing multimillion-dollar contracts and leading ERP implementations ensures that our clients receive the highest level of financial oversight and strategic guidance.

Lowell Mora’s background in financial leadership across diverse industries allows Impact CFO to offer tailored solutions that drive record growth and profitability. As a Fractional CFO, Lowell provides invaluable financial oversight, steering businesses through complex transactions and strategic initiatives with precision and expertise.

Our approach is centered on collaboration and innovation. We work closely with businesses of all sizes to implement cost-effective strategies, streamline operations, and achieve long-term success. Whether navigating transitions or seeking to enhance financial performance, Impact CFO is committed to helping businesses reach their financial goals and sustain growth in an ever-changing market.

Building Better

Building Better with Brandon Bartneck is focused on the people, products, and companies that are creating a better tomorrow, often in the transportation and manufacturing sectors. This show was previously called the Future of Mobility podcast.

I aim to have real, human conversations to explore what these leaders and innovators are doing, why and how they’re doing it, and what we can learn from their experiences. If you care about making an impact then this show might be for you.

Topics include manufacturing, production, assembly, autonomous driving, electric vehicles, hydrogen and fuel cells, impact, leadership, and more.

Edison Manufacturing and Engineering:

Edison is your low volume contract manufacturing partner, focused on assembly of complex mobility and energy products that don’t neatly fit within traditional high-volume production methods.