Blog What is Bookkeeping? Bookkeeping is the recording of daily transactions that cyclically follow a defined process. Bookkeeping breaks down into parts such as Accounts
CFO For Hire: Please Turn Down The “Financial Noise”!
Chief Financial Officer (CFO) For Hire!
I’ve been thinking about all the noise and distractions we have in our lives. I have begun to question how much we need? I did for myself to cancel a few magazine subscriptions that I never make the time to read. I say “make” the time because if I were genuinely interested in the content, I’d make the time. (I read a good portion of my day, every day). I then started to wonder how I could apply the concept of eliminating noise from my business when I realized that in the capacity of a CFO For Hire, it’s what I do naturally for my clients.
I am asked, “why do I need a CFO for Hire?” or “I’m not making a lot of money, do I still need a CFO?” the immediate reaction from me is a resounding “of course!” Because instinctively, I know what a great CFO can bring to the table. Having the right CFO for you, yes, I said the right CFO for YOU, can get quiet and calm into all the noise that a small business owner faces every day.
The CFO breaks down info
Some of the noise may be that next great shiny object that we as entrepreneurs love so much. An excellent CFO For Hire can help you pull apart that great idea into smaller pieces and discover the opportunities to make it an extremely profitable product. Also, a great CFO will tell you when you have officially gone off your rocker and not be afraid of the consequences. (Like getting fired!)
Another way a CFO for Hire can bring sanity to the chaos is by keeping the company and you as the business owner focused on the goals and the results. Often, we view the numbers as the enemy when, in fact, they are the biggest cheerleaders and the most honest critics of our organization.
A CFO interprets the data
Like cheerleaders, the numbers will cheer us on when we are doing well, and just like a great coach, they will tell us when we are not performing as well as we can be. What does the great CFO do? She interprets the message the numbers tell us and keeps us on track to our goals, just like a great coach does during the season.
She will teach us to focus on our goals and shut out the noise from the stands. I ask all my clients, “What is the goal? What are we trying to achieve?” The answer always keeps us on track, and when it doesn’t? It means more pushups for the team!
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