Why Hire a Part Time CFO?
Part Time CFO; Best Reasons to Hire a Money Expert
Every now and then we come across a website that can help grow your business. That site, today, is FindCFOServices.com - a directory and resource guide for business owners and service providers. The site is not affiliated with any one CFO firm. The site has published an interesting article on why you need to hire a money expert that we have, with permission, reprinted below. We hope you find it as useful as we did. Hiring an outside gunslinger to come in and be the guiding hand for a nascent or established business is a big step.
(1) The Bottom Line
Until an business reaches a certain level of critical mass, with sales exceeding several million dollars, most enterprises do not require the full-time efforts of a six-figure CFO with many years of corporate or consulting experience, though having the guidance of such a person is an invaluable resource to business owners and CEO’s. Generally, this type of consulting expertise can be purchased at rates ranging from several hundred dollars per month to hourly rates nearing two hundred dollars. In any event, a part time arrangement with a CFO expert will save you many thousands of dollars over the course of a year when compared to the cost of a full-time executive. In the end, this will leave you with more cash for sales generating activities, and yourself.
(2) Hard Earned Experience
It sounds cliché, but there is truly no substitute for experience. It’s hard to build a house if you’ve never built one before. Likewise, it’s hard to build a sturdy and flexible financial framework if this is not your area of interest or expertise. If you only own an old saw and a hammer, its best to leave those things on the shelf, focusing instead on the tasks you perform well.
Engaging a highly experienced financial consultant early in the life of an enterprise will greatly increase your ability to set the stage for later success, and help you present well to bankers, potential investors, and others in the business community. In short, an experienced part time CFO can help you structure scalable financial reporting systems, raise capital, monitor your business trends, and in general, help you see around the next corner.
(3) Partner for Rent
It’s lonely at the top, and it can certainly be lonely for a small business owner that has no sounding board, generating ideas and plans without the input of groups or partners present in larger organizations. In fact, because of their varied experiences, part time CFO’s are often able to offer valuable advice on a wide variety of topics including information systems, human resources, benefits, and general management topics. In short, a part time CFO offers the dual benefits of a “partner” and an outsider, viewing your business objectively from a new prospective.
FindCFOServices.com is the nation’s largest on-line independent directory of CFO Services in the United States. With hundreds of consultant listings from California to Maine, it’s easy to locate a part time CFO for your business. Click http://www.FindCFOServices.com to find a consultant today.
About FindCFOServices.com:
The CFO Services Provider Directory is a comprehensive resource guide to CFO Services for business owners and company executives. The site is a destination website for organizations seeking a part time CFO, interim CFO, contract CFO, or CFO firm. The site is easily searchable by city or state and providers listing their services include CPA firms, CFO firms, and individual professionals. www.FindCFOServices.com