Bill McDermott

Call Me When… Business owners have a big vision for their company & want to move forward, but don’t know how. I help identify hurdles getting in the way & create a path to profitability they never thought possible.

A major theme of this edition of ProfitSense was accounting, as host Bill McDermott welcomed two CPAs, Bradley Carroll, CFO of Progressive Lighting, and Gary Clayton, CFO of Superior Business Management. Bradley discussed his move from a CPA firm to in-house practitioner, the significant problems associated with logistics and sourcing products internationally, and more. Topics Gary addressed…

As a business owner, have you ever thought about whether you should own or rent your company building? It’s likely you have since it’s one of the top most-Googled financial questions in the U.S. Every business has a big dream for their business and wants to make it happen. But, along the way many business owners…

These days, when we don’t know the answer to a question, we often quickly turn to the internet. When someone raises a question in a group, it’s not uncommon to hear, “Let’s Google it.” We’re launching a series of your most-Googled financial questions, answered. Up first: insurance and estate planning. Most people are familiar with these for…

One of the topics I talk about most with business owners is accountability. Each situation is different, but rarely do I have a client that doesn’t struggle with accountability at some point over the course of owning their business. One client right now has run a very successful company for over 48 years. But when I…

Ryan Leo, Partner at Big Fish Technology, and Scott Siegel, Founder of Beacon Sales Advisors and Momentum CPG, joined host Bill McDermott on this episode of ProfitSense with Bill McDermott.  Ryan discussed managed service providers, how they came about, how to know when you need one, and the background beyond the Big Fish Technology name. Scott…

Every business owner has a big vision for their company and wants to make it happen. However, most don’t follow a unified strategy to get there. Leaders often have trouble pulling the trigger on spending money on people or new strategies because they don’t understand what their numbers are telling them. Many business owners haven’t fully appreciated accounting…

“Accounting is the language of business, and you must learn it like a language…To be successful at business, you have to understand the underlying financial values of the business.”  –Warren Buffett Time after time in my banking career I met with thousands of business owners who were looking for loans. Frequently, it became apparent that they had…

Growth always requires cash. Whether a business is expanding into new markets, growing their current offerings, or being bought out by current employees or a strategic buyer, funds are always required. Sometimes a company may have the cash on hand to cover these plans and goals, but more often, financing is needed. But approaching a bank for a…

In the Great Recession, I went from being an employee in banking to being an employer and launching my own business. Upheaval has become the new normal as the pandemic led many to reevaluate their jobs and more. In the Great Resignation, 4 million workers have quit their jobs so far. This could signal a change in thinking,…

For anyone who’s thinking about becoming an entrepreneur, whether you’re just out of school or fed up with corporate America and are inspired to “go for it”, this blog is for you. Remember, mindset first, then skill set. Having the right mindset will get you further than simply checking the boxes of certain skills. So, how do…

Every business owner dreams of a business with lots of cash and positive cash flow. With this type of business, the owner can reinvest in the business, take distributions, and pay off debt. The options are endless. The problem is, most business owners don’t know which levers to pull in their business to increase cash. They…

On this episode of ProfitSense with Bill McDermott, Bill was joined by Leslie Bassett, partner at Pridgen Bassett Law, and Allison Affleck and Harry Brenner, both partners at Affleck and Gordon PC. Leslie discussed her work in employee issues and insurance, stressing the importance of getting attorneys involved early to help resolve complex issues. Allison Affleck and…