I Can’t Afford a CFO –
Throw that $ Away To Save the ¢
What is your highest value to your company? You had the initial idea, you spent the time to build the business, and you are the one who got the company to where it is today. All the result of your hard work. So now where should you spend your time to generate the most value? Paying bills, preparing invoices, pouring over financial statements? Is it doing this “minding” work to manage the business? Or is it the “finding” work to grow the business? How much are you giving away by shifting your time from “finding” to “minding”? How big would your company be if you had more “finding” time?
The Best Person for “Minding” Your Business
Your CFO is the orchestra leader for your company’s resources. Your CFO makes sure the work is done timely and accurate financial information is presented to you and other stakeholders i.e. bankers, CPA’s, insurance companies, etc. Because he is the orchestra leader, he takes on much of the “minding” work freeing you up to do more “finding”.
But you have a small company and don’t think you can afford the salary and benefits for a CFO. But you also don’t have an attorney at your office all the time either. But when you need your attorney you get them involved to solve your legal problem. A CFO can be similar, but slightly different. They are different for four reasons:
- They are part of your management team
- They regularly come to your office to monitor what is going on
- They have a vested interest to see that things are being done correctly, ensuring that information is accurate and available to you to make great decisions.
- They anticipate your needs
But they don’t need to be there everyday. So you don’t need to pay them everyday. So you don’t have to pay benefits such as health care, vacations or holidays. Thus you can have all the benefits of having a CFO even if you are a “small” company.
And most important, what growth in value will you experience if you spend more time on “finding” and less time on “minding”. So quit throwing away the dollars just to save a few cents!
What Can a CFO can do for you? Call me and let’s discuss! All businesses, regardless of size need the services of a CFO.
Did you like this post? Here is recommended reading on this topic:
- CPA vs CFO, Different Initials but Same Position Right? WRONG!
- So You are the President of Your Company and You also have a CFO. So What is It You Do Everyday?
- A CPA and CFO Really Aren’t the Same People? Or Just Because It Smells as Sweet Doesn’t Mean It’s a Rose
Do your financials continue to elude you in spite of how much you pay for them?
I am fluent in ‘financialspeak’ and can translate your monthly numbers into strategies for future success. Contact me – I take companies to a higher level of success. Email : AndyAnderson@b2bcfo.com. Phone: 909-732-4917