Early in his career as a CPA, Jeff Prager made the best decision of his life – to transition to Advisory Services – and it CHANGED his life! Realizing early on that helping clients save money on their taxes was great, but that helping them make better management decisions that allowed them to grow more stable companies and make more money, he was able to offer his insights and advice. Jeff has been a CPA, business owner and entrepreneur for over 35 years, as well as a former CEO/CFO and owner of several successful multimillion-dollar companies.
As an accountant, Jeff was relegated to looking at ‘what happened’. But as an advisor, he was finally able to become involved in ‘what’s going to happen’ and keep businesses safely moving in the right direction. He realized that most business leaders did not have a grasp on the real numbers that drive revenue and he could offer more value to these struggling businesses if he could just work with them before they got into trouble.
What happened next was completely unexpected. Jeff’s clients started asking him for more help, which led to his being offered numerous management and ownership opportunities. He was a offered a founding partnership in Ashworth Golf Clothing, today a thriving public company worth millions; he was brought in as a partner in a homebuilding company, a land development company, and has served as CFO of dozens of other companies.
Jeff is co-founder of Cash Flow Engineering, LLC and Founder of Backroom Management Services (BMS). He’s helped companies raise over $1 billion (of which $200 million was for his own companies). Also an accomplished author, Jeff has written several books, including, Financial Forecasting in Excel, Managing Your Business with 7 Key Numbers, and The Peddler’s Son (BackroomManagement.com).
Tune in to hear Steve, Mary and Richard chat with Jeff about his journey as a CPA and Advisor and why running out of cash is the #1 reason that businesses fail.
In This Episode
Running a biz is totally different than being a CPA
5 Points of Revenue
Why you need to be #1 on the personnel list
Revenue – Cost = Profit
You have to determine ROI
Making the decision to go into business
7 numbers that drive strategies & tactics
A projection is just a guess
Profit vs cash
Previously On Reinvention Radio
Reinventing Women In Tech – In this episode, tune in to hear Steve and Mary chat with Jay Gabrani about preparing fathers for an uncertain financial future..