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On this episode of the CFO Mission podcast, Phil Mazur talks about the three main functions of a business: production, profit, and protection. He stresses how important these functions are in relation to sales, marketing, operations, and finance. Phil also points out the CFO's role in small businesses, especially in the protection aspect, which covers legal, insurance, taxes, accounting, and business entity setup. He advises business owners to recognize the value of the accounting and finance function and not just see it as a cost. Phil urges businesses to take protective measures seriously for improved productivity.
"Business owners, you want to live in the production pillar as much as possible. This is where you grow, this is where you have fun, this is where you're putting your vision into action." - Phil Mazur
What you will learn:
The production pillar
The trap of promoting someone to lead operations
Effective Time Allocation for Small Business Owners
Importance of Protection in Business
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