Why Should You Hire a CFO?
I have learned from my years as both a CFO and a business owner that many business owners who have not worked directly with a CFO, don’t understand the value they bring to steering the company’s future. When the CEO has a difficult time determining how to spend limited dollars, for example, they may decide to invest in sales and marketing to strengthen sagging revenue, expecting immediate returns with hockey stick-like increases in sales. Sales and marketing efforts are great investments if properly managed and monitored; however, without discipline and strategy, the expected return may not be realized if the investment was misdirected, to begin with.
CEOs often have a background expertise in sales or technology. They have enough respect for accounting and finance to know they need at least some of it but, truth-be-told would rather kiss an alligator than to admit how little they understand about financing, how a balance sheet works or why they need a cash flow statement.
They also don’t understand the difference between a CFO and a CPA.
So, what was your question again – why do you need a CFO? That’s why.
Barker Associates, CFO Strategists, works with entrepreneurial growth companies, established corporations and nonprofits to develop positive cash flow and increase the value of your company. We can be contacted at firstname.lastname@example.org or 904.728.2920.