As a small business owner, you’re already be aware of how crucial financial management is. Without sound finances and an awareness of your cash flow, your company will inevitably suffer.
You may already have an individual on your team that takes care of the day-to-day bookkeeping financials. While it’s great to have someone on board who you can trust with the daily financial duties, what about the more complicated aspects of finances like taxation, financial planning, forecasting, and troubleshooting? For these kinds of things, it’s necessary to have someone with the relevant qualifications and experience. Hiring a Chief Finance Officer (CFO) is the best way to ensure you gain the right expertise and take your finances to the next level.
Here’s a closer look at what a CFO can do for you!
The CFO will also be heavily involved in any change management. Whether it’s scaling up or down, reorganizing departments, or relocating. The CFO will manage the budgets and expenses of these large-scale projects and ensure everything is manageable financially.
Since a CFO is a top-level role, they typically require a top-level salary. As a small business owner, you’re probably wondering how you could afford to hire a CFO full-time.
Most small businesses don’t need a CFO full-time, so the good news is that you don’t have to hire one on a full-time basis. Companies such as Finvisor have recognized the need for part-time CFOs for small businesses and therefore provide them “as needed.”
This means that you can gain access to all the knowledge, expertise, and benefits that come with hiring a CFO but at a fraction of the cost of a full-time hire. As your business grows, your CFO resource can grow with you and provide more support when required.
Working remotely, your Finvisor CFO will use shared software to keep you informed and updated at all times. If you have bookkeepers and/or accountants, your CFO will oversee their daily activity and work with them to make improvements. It’s time to take the stress out of your finances so you can concentrate on growing your business!
To learn more about what we do, or to request a quote, contact us at firstname.lastname@example.org or 415-416-6682. We’re here to help you navigate deferred revenue journal entries so you can make the most of your assets!
*This blog does not constitute solicitation or provision of legal advice and does not establish an attorney-client relationship. This blog should not be used as a substitute for obtaining legal advice from an attorney licensed or authorized to practice in your jurisdiction.*