CFO services could be your answer

Apr 30, 2012

 

One question that owners of growing businesses will eventually face is a big one: when do I need a chief financial officer?  There is no one right answer to that question.  There are many variables that have to be considered and the right answer will be different for just about every company.

Complexity, volume of business activity, and company objectives are three of the biggest factors to be weighed when determining whether your company needs the services of a CFO.  The more complex your business becomes the more a CFO’s services will be vital to your ongoing success.   The volume of business your company is doing is also critical. When a company reaches $1 to $3 million in sales, it is probably time to consider getting a CFO.

If your company is growing and you are making plans for major expansions, acquisitions or recruiting significant investment, you probably want to consider employing a CFO.  If you have reached the point where you need think you need to secure the services of a CFO, you can consider hiring for CFO services.

If you choose the route, you need to approach the process with care with study.  You should not be looking just for a service provider, but for a partner. Your business relationship with a CFO has to be one you are fully comfortable with because it is essential to your continued success.

A part-time CFO can provide your business with services that you determine are necessary at any specific time and work with your in-house staff to make sure your financial affairs are always on target.  If you have found the right partner with your CFO, you can have the peace of mind and confidence to focus your attention on your top priority, continuing to build your business.

If you think you are at the point that you need a CFO, contact us. There is much to consider as you ponder this decision and we can help you find answers to any questions you might have.

 

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