As the owner of a growing business, you’ve probably started wondering lately about when your business will require the services of a CFO. You’re not alone in that, however, since there are a lot of other small business owners who have all of the same questions. The fact is that there’s no set time limit or landmark to help with the decision but it really depends on you.
Not Big or Rich Enough?
If you still think that your company simply isn’t big or rich enough yet to hire a CFO, think again. If you’re still handling your own bookkeeping, accounting, and financial planning because you think you could never afford that much-needed CFO, you’re not alone. In fact, you’re probably in the majority. Most business owners and/or operators go through this particular phase. It’s what you do about it that counts.
Help With Financial Decisions
Do you honestly feel that you have a firm grasp on all of the financial data that are needed for you to make critical financial decisions all on your own without professional help? Whenever those crucial financial decisions arise, do you start wishing that you could just turn to somebody with a lot more experience than you have? Do you need somebody like that to count on every day?
You have two options here and the first is hiring a CFO full-time to work in-house. The second is an outsourced CFO (OSCFO). When you outsource, you’re hiring a company that provides OSCFO services like us at DeepSky Accounting. You can count on our professional team to work as your OSCFO project-by-project or for a specific number of hours each month as agreed. Here are some of the ways that an OSCFO can help your business by providing:
- Financial advice for securing your future financial condition and increasing profitability,
- Lower costs because OSCFO services provide savings & no quality sacrificed.
- Streamlined systems for more cost savings,
- Accurate reporting because your DeepSky OSCFO understands how to prepare and review your company’s important documents,
- Problem-solving for fixing issues prior to them becoming a problem,
- Analysis of profit and loss for strategic financial planning,
- A Restructure for bringing AP up-to-date and creating cash flow,
- Effective cost-cutting for freeing up more capital.
If your business needs the help of an outsourced CFO and finding out more about a possible OSCFO is currently at the top of your to-do list, then we can definitely help you with that. Get started today and contact us today at DeepSky. We’re here and ready to start helping you to increase the growth of your business while saving money in the process toward a much brighter financial future for you and your company.