Total Cash Clarity

Chief Financial Officer – Who’s Performing that Role in Your Business?

As a business owner, you are most likely filling the role of a CEO, Chief Executive Officer. It is not uncommon for many business owners to wear the hats of several key roles that help run a business. Especially if the business is small, a startup, growing and tight on cash, and/or just because the owner chooses to operate the business that way. One area that can be most challenging for a business owner is in providing leadership in the management of all financial activities.

One of the most valuable lessons I have learned as a business owner, and from working with many other owners, is that the most successful CEOs surround themselves with “Subject Matter Experts” to help provide leadership and advice in key areas of a business. For example, a CPA is one of these experts and their focus is on tax compliance. A Wealth Manager / Financial Planner is an expert whose focus is on helping an owner meet their long term personal financial goals. Wouldn’t it make sense to have a “Subject Matter Expert” by your side whose focus is on the financial activities of your business?

The Chief Financial Officer (CFO) is in charge of helping make the most of your financial decisions; both short and long term. Big corporations often have a full time CFO position because they have the money to pay for that expertise. In small businesses, it’s common for the CEO to think that they cannot afford to pay for a CFO and that they can use their other experts, their CPA or Bookkeeper for instance, to provide financial advice, or the Financial Planner to help make long term financial decisions.

What if you considered the value that a CFO could provide on a monthly or quarterly basis, to help you, the CEO, perform at a higher level? We can’t be “experts” in all aspects of our businesses. Why do we just “tolerate” our Bookkeeper’s and CPA’s performances? Or let ourselves feel like we are held “hostage” because we don’t know what we don’t know about our finances and are at the mercy of these experts? In today’s business landscape, outsourcing is a less expensive way to go when wanting to “hire” your subject matter experts!

When should you hire an Outsourced CFO? Are you losing sleep because you’re concerned about some aspect of your financials? More specifically, is your company growing but you’re not sure how to create strategies that will help to maximize profitability? Perhaps you could benefit from the leadership of a CFO to help educate your team on how to help increase revenues and decrease expenses.

Working with a CFO could help you to take your business to a higher, more profitable level. When I’m working with my clients as their Outsourced CFO, I help them make decisions based in reality, not emotions. I am passionate and skilled at helping CEOs understand their financials from a cash flow perspective and identify potential problems that may occur 5, 6, and even 8 months into the future!

If you are interested in learning more about how I work with my clients providing leadership in the management of all financial activities of your business, please contact me.