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Considerations for Hiring a Part-Time CFO - Jan 28, 2008

Posted by: Rob Frasier in Articles

Is your company at a point in its life that you have been contemplating hiring a part-time CFO? You may want to answer the following questions to confirm that it is time:

1. Do you receive timely and accurate financial statements that you and your banker actually trust?

2. Do you understand how much cash you will need or why your business suffers cash shortfalls?

3. Does your banking relationship provide adequate financing to meet your company's cash needs?

4. Do you currently receive regular projections of your company's cash flow?

5. Do you receive key operating reports so you can monitor your business & make informed decisions?

6. Do you have the ability to make projections under various scenarios (what if)?

7. Do you know what the ROI in new equipment is or what an acquisition of another company might yield?

8. Do you or your management team look strategically at your business and perform a SWOT analysis?

9. Do you have a viable exit strategy that will maximize the value of your business upon its sale?

10. Do you stay awake at night worrying about your business?

Although this is not an inclusive list, if you answered "no" to any number of the questions above you may be in need of a B2BCFO. Schedule an appointment to discuss what CFO services we can provide to help your company improve its profitability, its cash flow, and its long-term value. Our Phase I Diagnosis is free.