Edward Allon

Providing CFO services in Michigan

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About Edward

Edward Allon

Oak Park, MI CFO

28 Years of Experience

Direct Contact

eallon@b2bcfo.com

(248) 677-1159

Universities:

Columbia University, University of Pittsburgh

Organizations:

FENG (Financial Executives Network Group), Michigan Business & Professional Association (MBPA)

Contact Edward Allon and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™

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Edward’s Bio

Ed is a high energy executive with over 25 years of finance and operating experience as a controller, chief financial officer, and chief operating officer for companies in a number of industries.  His broad experience and strategic perspective make him an effective finance leader and trusted advisor.  He has worked extensively with both large corporations and small, entrepreneurial firms, and has integrated the best of both: the process orientation and professionalism of multinational companies, and the non-bureaucratic approach of smaller enterprises.

Ed’s hands-on problem solving approach has resulted in a number of significant wins for the enterprises with whom he has worked.  Among other things he has:

  • Managed finances of $15 million not-for-profit organization during multi-year economic downturn, providing strategic support by focusing on core competencies and maximizing assets.  During his tenure, the organization had surplus operating budgets every year.
  • Revamped accounts payable and receivable department for $10 million retailer, reducing supplier disputes by 80%.
  • Introduced robust daily cash flow forecast for not-for-profit company, eliminating cash shortfalls and improving relations with bank.
  • Successfully negotiated line of credit renewals twice during nationwide credit freeze.
  • Initiated strategic and operational turn around for $5 million health care provider, resulting in 12% revenue growth in four months.
  • Identified and successfully negotiated manufacturing change, resulting in over $2 million in annual material savings at major automotive company.
  • Negotiated economic concessions in multi-year union contract.
  • Led and directed $15 million material cost reduction program for a multi-division international Tier 1 automotive supplier.
  • Provided critical finance support to E-level team negotiating union contract at major utility; Designed management decision model.

Ed brings a passion for excellence and a “can-do” attitude to everything that he does.  He believes that it is the role of finance to maximize a company’s assets by preserving cash, establishing accurate budgets and robust forecasts, and investing intelligently in growth.  He has a large number of skills and strengths to solve problems and create opportunities for growth, including:

  • Experience in automotive manufacturing (OEM and Tier 1), not-for-profit, retail, health care, and other industries
  • Pricing
  • Capital Budgeting
  • Budgeting, Forecasting, Business & Strategic Plans
  • Internal Controls & Risk Management
  • Maximizing Cash Flow
  • Cash Management & Treasury
  • Cost Accounting
  • Legal Affairs & Intellectual Property
  • Mergers & Acquisitions, Real Estate, Operations
  • Board of Directors relations
  • Working with Independent Auditors
  • Managing IT and HR functions
  • Contract Negotiations

As a long time resident of Southeast Michigan, Ed has an extensive network of contacts in the banking, legal, business, insurance, and civic communities.

Ed received his bachelor’s degree from Columbia University, and has an MBA from the University of Pittsburgh.

Ed and his wife live in Oak Park, MI where they are active in a number of communal organizations. They are the parents of six children and two grandchildren.

Contact Edward (248) 677-1159

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Why I chose CFO in Detroit


Why I chose to be a CFO in Detroit

Detroit is a great city in the midst of transition. Together with the suburan towns it is a place that has seen its primary industry go to brink and back. From Livonia and Dearborn in Wayne County, to Birmingham, Southfield, and Farmington Hills in Oakland County, to Warren and Sterling Heights in Macomb County, the greater Detroit area is once again booming with the sound of manufacturing and service industries. This is a great place to work and live.

These days, companies need to stay flexible to meet and beat the competition. One of the ways that they can do that is with a part-time CFO like me. As a part-time CFO, I can meet with one client in Royal Oak on one day, a second client in Detroit on another, and a third one in West Bloomfield on a third day. On the following days I can meet clients in Troy, Southgate, Pontiac, Auburn Hills, and everywhere in between.

Recent Blog Posts

Sep 11Edward Allon

Parah Leasing

Sep 11Edward Allon

“Ed came into our business and sorted out some very complicated accounting issues related to leasing and tax consequences. He was super low-key when dealing with some high strung partners and extremely effective. He really got our mess organized and moving on to the next steps. Highly recommend Ed for difficult situations in unique business circumstances.”   – Vern Brown, President, 1st Midwest Ag Capital Corporation

Sep 10Edward Allon

Replanting Roots

Sep 10Edward Allon

I feel very fortunate that I connected to Ed for advice on developing an effective business plan for Replanting Roots, the non-profit I founded. Ed is a remarkably patient and kind man, and gently probed and challenged the plan I had written on my own before advising on how to make it more professional and poignant for the investors I will be seeking. I’m taking his advice, and reworking the plan, and look forward to getting his thoughts as we

Jul 5Edward Allon

Coming Down From The Mountain

Jul 5Edward Allon

Sir Edmund Hillary was not the first person to climb Mount Everest, he was the first person to climb to the top and make it back alive. In the exact same way, business owners that create a successful business and then fail to sell it for what it is worth are like the mountain climbers that climbed the mountain and failed to make it back down the mountain alive. The business owner looking to sell their successful “closely-held” business must

Apr 10Edward Allon

What Is Exit Planning and How Do I Get Started?

Apr 10Edward Allon

Exit planning is a process whereby you, the business owner, are prepared to cash in on your business, take care of your personal goals, and do so in a manner and time period that accommodate you and other stakeholders, as well as at a time when you can optimize your exit value.   There are three areas of this type of planning – planning, preparing, and passing it on. First, you need to prepare yourself for the exit.  Next you need

Dec 12Edward Allon

Fiscal Cliff 1.01 – Why Should You Care?

Dec 12Edward Allon

The Fiscal Cliff Explained “Fiscal cliff” is the popular shorthand term used to describe the problem that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect. Among the laws set to change at midnight on December 31, 2012, are: the end of last year’s temporary payroll tax cuts (resulting in a 2% tax increase for workers), the end of certain tax breaks for

Nov 27Edward Allon

What is Your Disaster Recovery Plan? The Wall St Journal Weighs In

Nov 27Edward Allon

On October 21, The Wall Street Journal ran an article titled, “Be Prepared for the Unexpected”.  The article outlined a variety of steps that business should take to keep an unexpected event from turning into a disaster. A few days later, Hurricane Sandy struck the East Coast with fury that we have not seen in a long time,  leaving a path of death, injury, and destruction in its wake. For many business owners, the difference between rebuilding and closing is

Oct 29Edward Allon

Credit Crunch for Small Business

Oct 29Edward Allon

The credit crunch is now impacting small businesses – and it is crucial that they prepare themselves for it. Banks, nervous about the prospect of more borrowers defaulting on loans, have for months been tightening their rules when it comes to lending money to consumers and major corporations. And now, industry experts say lending jitters are being extended to small firms as well, making it harder for them to find loans. In past years, credit was relatively easy to come

Oct 15Edward Allon

Are You Ready for Obamacare?

Oct 15Edward Allon

Unless you have been living in a cave, you know by now that the Patient Affordable Care Act (PPAC), sometimes referred to as Obamacare, has been passed by Congress. You must also know then that in June of this year the United States Supreme Court deemed health care reform to be constitutional and accordingly upheld the PPAC in its entirety. Although the lion’s share of the impact of this law will be felt/enjoyed by consumers there will certainly be an

Sep 19Edward Allon

The Best Way to Grow Your Business

Sep 19Edward Allon

Although every business wants to grow, some types of growth are certainly better than others. Let’s consider the following 2 options: OPTION 1: Grow Sales by 20%, and net income increases 50%. OPTION 2: Grow Sales by 50% (a lot more work and risk than Option 1), and net income only increases 20%. The best way to grow is when net income growth out-paces sales revenue growth. For every additional unit of sales, we want to generate more profit, not

Sep 19Edward Allon

Financial Intelligence

Sep 19Edward Allon

Business leaders do not start their organization hoping to spend a lot of time doing accounting and finance, but rather doing what they do best, to fill an unmet need or provide a great new service.  All leaders, however, need to have a high enough level of financial intelligence to know they are making the best possible decisions for their business. In addition, the more financial intelligence their employees have, the better the decisions of the organization will be as

Sep 7Edward Allon

Morgan Stanley Smith Barney Announces Alliance with B2B CFO

Sep 7Edward Allon

Morgan Stanley Smith Barney has announced a new national alliance with B2B CFO, the largest CFO services firm in the United States.  This agreement provides an innovative blueprint for a coordinated effort to meet both the corporate and personal wealth management needs of privately held businesses and their owners. The relationship, formalized through Morgan Stanley Smith Barney’s Professional Alliance Group, allows B2B CFO to refer clients to Morgan Stanley Smith Barney and is the exclusive alliance of its kind for

May 2Edward Allon

5 Top Reasons Companies Fail…

May 2Edward Allon

- Don’t Fall Prey to Any of These   Companies fail for lots of reasons, but financial mismanagement generally tops the list. Here are five of my favorite reasons why firms bite the dust – based on many years in the trenches helping companies beat the odds. 1. Revenue – or rather quality of revenue. Many entrepreneurs – if not most – have a sales background, and they do what they do best – sell! I have seen many great

May 2Edward Allon

Business Casual – Jewish Detroiters connect through business networking

May 2Edward Allon

In this article in the Detroit Jewish News, I talk about the importance of networking as a way to build your business. by Yaffa Klugerman At the Jewish Professional Women’s Network meeting last month, the atmosphere was decidedly  relaxed. Participants helped themselves to a light lunch while mingling and chatting. Later, they watched a presentation given by Karen Willner, owner of the YogaWeigh, about her business. The ambiance was so comfortable that it was easy to forget the event was

Dec 7Edward Allon

When Should You Hire a CFO? – The New York Times

Dec 7Edward Allon

On October 26, The New York Times published an article titled, “When Should a Small Business Hire a Finance Chief?” This piece deals primarily with growing businesses and some of the major issues they confront. I recommend this article as a good summary of the complex range of issues that all small businesses face.The article defines a number of tipping points that confront companies as they grow. But the primary issue was summarized by one business owner, who said:  “I needed to

Dec 7Edward Allon

Are Your Employees Stealing From You?

Dec 7Edward Allon

- The Chances Are Pretty Good Someone Is Recently one of my client’s employees picked up a check from a customer and cashed or deposited it (not sure yet).  While this type of theft was pretty brazen (and stupid), it does give me an opportunity to remind people of the obvious ways employees steal from them.It is not a nice thing to think about but employee theft is rampant in small to mid-sized businesses. It never ceases to astound people that a

Aug 5Edward Allon

Internal Controls Can Save Your Business

Aug 5Edward Allon

Internal Control – Segregation of Duties One of the basic objectives of good fiscal management is internal control. This is key in both the for-profit and not-for-profit world, where the board of directors has a fiduciary responsibly to ensure that the organization is run with proper controls and checks in place. The proper segregation of duties, though basic, is by far the most potent tool that leadership has to prevent fraud and mistakes, as it ensure that errors or irregularities are

Jul 11Edward Allon

What Can a Part Time CFO Do for You?

Jul 11Edward Allon

A CFO or Chief Financial Officer is the person on your executive team who sole purpose is to increase cash flow, improve profits and help in improving the bottom line. The difference between a CFO and part-time CFO is only the hours. Unfortunately, many companies who have a need for a skilled CFO do not have the funding to actually hire one. Another senior officer on the payroll might just be a bit too much. In these cases, they might

Jun 22Edward Allon

Getting Cash from Your Bank – The 5 C's of Credit

Jun 22Edward Allon

One of the most common questions among small business owners seeking financing: “What will the bank be looking for from me and my business?” While every bank has its own unique criteria, many use some variation of “the five C’s of credit” when making credit decisions. Broadly speaking, they are: Character Cash Flow Collateral Capitalization, and Conditions Let’s take a look at each of these ingredients and how they may impact your funding request. Review each category and see how

Apr 3Edward Allon

Manage Your Cash, or It Will Manage You

Apr 3Edward Allon

I recently saw a survey concerning the degree to which business owners are managing their cash flow. The results might be surprising to many in that only 20% of business owners felt they were in control of their cash flow. This means that over 80% of owners manage their business without having the necessary control over cash. Unfortunately the lack of financial control of your business can lead to devastating consequences. Compare this situation to driving down the road at

Feb 25Edward Allon

5 Common Small Business Challenges

Feb 25Edward Allon

In working with small growing entrepreneurial businesses, I have discovered several common financial related issues with which they struggle. When I first start working with these businesses, most if not all of these issues exist. All of them are critical to their success in managing and growing their businesses. The good news is that with time and focus they can be rectified. In no particular order, here are 5 that I see most:  1.   Lack of Timely and Accurate Financial

Jan 6Edward Allon

Do You Want to Make Your Annual Budget More Effective?

Jan 6Edward Allon

Think S.W.O.T. and 10 Level Analysis It’s that time of year again!  It’s time to start thinking about 2011.  Are you one of those people who cringe at the thought of the annual business planning process?  Love it or hate it, this process is a key ingredient for success.  I’d like to suggest two tools that might make your annual planning process more effective:  Start with a S.W.O.T. Analysis End with a 10 Level Analysis S.W.O.T. Analysis All good annual

Nov 28Edward Allon

Cash Flow is the Life Blood of Your Company

Nov 28Edward Allon

Many business owners look at their income statement as the barometer of the health of their company.  Certainly the income statement does answer the question, “How much money did I make in the last period, after accounting for expenses, overhead, and such non-cash items such as depreciation on property, plant, and equipment?” But it is important to understand that the income statement has its limitations, and that there are many questions that the income statement cannot answer; Will I have