In this episode of Before You Buy or Sell a Business, host Jared Johnson interviews John Hannum, the founder of PPS Solutions, about the importance of having a fractional CFO for small and growing businesses. John shares his insights on the biggest mistakes business owners make, the key things to focus on when selling a business, and the trends he has observed in the small to medium business market. He also provides valuable advice for buyers looking to acquire a business and discusses the role of a fractional CFO in improving a company's financial health and maximizing its value. For more information or to contact John, visit: https://www.ppsfinance.com/ In this episode: 00:00:00 | Introduction 00:03:41 |John Hannum on starting PPS Solutions, fractional CFO services 00:06:04 | Fractional CFOs offer operational expertise and act as financial partners to entrepreneurs. 00:08:55 | Biggest mistake in finance: not using clean accounting information 00:09:11 | Importance of cleaning up accounting and looking at accrual accounting 00:11:35 | Importance of budgeting and cash flow forecasting 00:14:20 | Importance of planning for business exit and maximizing value 00:17:35 | Setting goals in the first year of a three-year period 00:20:26 | Creating a good story for the business sale 00:22:00 | Dealing with cash sales and creative ad backs 00:23:46 | Educating business owners on the implications of tax fraud 00:27:09 | Advice for buyers looking to buy a business 00:31:45 | Motivation to help others achieve their vision 00:33:21 | Closing remarks, contact information for John Hannum __________________________________________________ If you have questions for Jared, visit JaredWJohnson.com DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.