{"id":1486,"date":"2011-02-22T08:27:50","date_gmt":"2011-02-22T08:27:50","guid":{"rendered":"http:\/\/www.shanecampbellcfo.com\/?p=100"},"modified":"2023-10-05T21:17:27","modified_gmt":"2023-10-05T21:17:27","slug":"why-do-you-need-a-cfo","status":"publish","type":"post","link":"https:\/\/www.b2bcfo.com\/shane-campbell\/why-do-you-need-a-cfo\/","title":{"rendered":"Why do you need a CFO?"},"content":{"rendered":"<p style=\"text-align: justify;\">Perhaps you have found this blog site because you are considering a part-time or temporary CFO. But why would you need such an\u00a0individual?<\/p>\n<p style=\"text-align: justify;\">Experience tells us at B2B CFO\u2122 that many entrepreneurs begin to lose <a href=\"http:\/\/books.google.com\/books?id=e9nnmmQ11_0C&amp;pg=PA2&amp;lpg=PA2&amp;dq=Goal+Clarity+ron+Willingham&amp;source=bl&amp;ots=V_n30iL051&amp;sig=rtOejVWEPMxy-8RGVPfCnlD2xgA&amp;hl=en&amp;ei=kWljTajpN4z0tgPEhpy_CA&amp;sa=X&amp;oi=book_result&amp;ct=result&amp;resnum=4&amp;ved=0CCwQ6AEwAw#v=onepage&amp;q&amp;f=false\">goal clarity<\/a> over time.\u00a0 The insatiable, single-minded, laser focused entrepreneurial initiative to drive business growth has now given way to the urgent, yet unimportant tasks of the day.\u00a0 B2BCFO\u2122 founder Jerry Mills describes this in his book Mills segregates employees\u00a0into groups &#8211;\u00a0Finders, Minders and Grinders.\u00a0 You are the Finder \u2013 likely the only person in the organization with a vision of what the Company could truly become.\u00a0 Yet as the Company exits the honeymoon phase, the temptation is for the business owner to handle tasks which are better suited for Minders (accountants, HR professionals, lawyers, etc.).\u00a0 With precious time now compromised, who is left to drive Company growth?\u00a0 No one, unfortunately.\u00a0 The business has now entered <strong><em>The Danger Zone<\/em><\/strong>.<\/p>\n<p style=\"text-align: justify;\"><!--more-->I find it amusing when I talk to business owners about time management.\u00a0 I will often ask \u201chow much in additional annual sales do you think you could you bring in if you were to free up an extra 8 hours per month?\u201d\u00a0 Maybe $100,000?\u00a0 Maybe a million dollars?\u00a0 Maybe more? The figures I get back from these business owners are astounding, yet I believe them.\u00a0 Once they do the math, they realize that maybe outsourcing certain tasks, freeing themselves up to be Finders once again, makes better sense.\u00a0 The entrepreneur can return to his\/her passion of driving business once the minding tasks are off-boarded.\u00a0 Higher profits are realized, the entrepreneur returns to doing high-value business development, and the joy in owning the business returns.\u00a0 Maybe <strong>Confucius<\/strong> knew what he was talking about when he said <strong><em>\u201cChoose a job you love, and you will never have to work a day in your life.\u201d<\/em><\/strong>\u00a0 To be successful, entrepreneurs need to get back to doing what they love.<\/p>\n<p style=\"text-align: justify;\">So back to the question as to why your Company might need a CFO.\u00a0 It is not because we can decrease your average DSO (days sales outstanding in accounts receivable).\u00a0 It is not because we can provide better financial reporting that identifies areas of strength and areas requiring improvement in your business model.\u00a0 It is not because we can create cash projections which identify problems month in advance and facilitate early remedial action.\u00a0 Yes, a B2B CFO\u2122 can help you with all these tasks and they are important.<\/p>\n<p style=\"text-align: justify;\">But most importantly, a temporary or part-time B2B CFO\u2122 can help you re-acquire goal clarity, which will lead to more sales, more profits, and\u00a0less frustration by freeing up your time to do that which you are passionate about and frankly very good at.\u00a0 Driving business. Now everyone can afford a <a href=\"http:\/\/www.b2bcfo.com\/part-time-cfo\/part-time-cfo\/\">part time B2B CFO<\/a>\u2122.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;I will often ask &#8216;how much in additional annual sales do you think you could you bring in if you were to free up an extra 8 hours per month?&#8217;  Maybe $100,000?  Maybe a million dollars?  Maybe more?&#8221;<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","cybocfi_hide_featured_image":"","footnotes":""},"categories":[16],"tags":[25,26],"class_list":["post-1486","post","type-post","status-publish","format-standard","hentry","category-shanes-really-deep-insights","tag-cfo","tag-profit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why do you need a CFO? | CFO Services | B2B CFO<\/title>\n<meta name=\"description\" content=\"Experience tells us at B2B CFO\u2122 that many entrepreneurs begin to lose goal clarity over time.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.b2bcfo.com\/shane-campbell\/why-do-you-need-a-cfo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why do you need a CFO? 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