Chief Financial Officer
Many businesses that have grown to $2-3 million in annual revenues begin to experience challenges with finance and accounting. Owners often feel that their CPA is a trusted advisor because they have used their firm for many years to file tax returns. There are, however, challenges to using a CPA for “closing the books” monthly, as well as other challenges with forward looking managerial finance tasks. A good article on the subject can be found here.
Fractional, or “part-time”, CFOs are a proven solution.
The reason a Fractional CFO is effective is because he/she will work with the bookkeeper the business already has; the business only pays for the hours it uses from the CFO. Over-hiring before the business has the economies of scale to support the salary required for a qualified individual stresses the business overhead too much, and there is simply not enough volume of transactions and challenges to keep a talented individual from moving on to another employer.
StraightForward Financial Insights offers solutions for these businesses. A rule of thumb is when a business reaches $20 million in annual revenues it should be able to support a full time CFO.
In situations where middle market companies of $20m+ annual revenues have their CFO leave, or retire, StraightForward Financial Insights offers solutions through placement of a CFO on an interim basis. A typical assignment is several weeks to several months until the right CFO can be recruited and hired by the company.
At StraightForward Financial Insights, you will find a unique combination of Fractional CFO experience with Exit Planning knowledge & experience.
To discuss your business’ unique situation, and unlock its potential, call Jason Sellnow, CEPA, CMA, CSCA at (414)301-9696, today.
Want to Learn More?
Learn how a fractional CFO can benefit your business by reaching out today