You’ve Got a Bookkeeper and a Tax Person — So Why Would You Need a CFO?
If you’re a business owner, you likely already have a bookkeeper, and you likely have a CPA who files your taxes. So, what exactly is a CFO Advisor, and why would a small business like yours even need one?
It’s a great question, and one we get all the time.
Here’s the short version:
Bookkeepers and CPAs are recording the past. CFO advisory is about taking the business into the future.
Think of Your Business Like a Car
Your bookkeeper and your accountant are creating financial statements – think of those statements like the rearview mirror in your car. They show you where you’ve been, which is important!
CFO Advisory services help you focus on what’s coming up ahead – helping you look out the windshield and drive.
So, What Exactly Is CFO Advisory?
The role of a CFO Advisor is to understand where your business is today, where do you want your business to be in the future, and how do we bridge that gap? Hint – bridging the gap is where the CFO Advisory services come in.
Helping you (the business owner) understand what’s working and what’s not
Ensuring the business has the cash flow to support its goals
Providing scenario planning (what if X happens?)
Creating a financial roadmap for the future
CFO Advisory services should be providing three main things.
Increased cash flow for the business.
Increased confidence for you as a business owner - you now have a better understanding of what’s going on within your business.
Increased clarity - you now know how to use your financial data to make better decisions for the future.
But Don’t I Already Have People for That?
Maybe you do! As mentioned before, you likely have a bookkeeper and a Tax CPA in place already. Which is good, please keep them! We work with these people, not instead of them.
CFO Advisory does not replace your bookkeeper or tax person. We don’t do taxes. We don’t do day-to-day data entry. And we’re not going to drown you in spreadsheets.
What we do is help you make sense of all the numbers those people put together.
The key is being able to understand the story the numbers are telling. Business owners don’t just need more financial reports; they need insights.
Bottom Line?
You don’t have to be a big company to need a CFO. You just need to be ready to stop flying blind. Do you understand the financial statements your bookkeeper/accountant is giving you? Do you know how to put a plan in place for the future (that will help you sleep at night!)?
If you’re a business owner working hard but not seeing the financial results you expected, let’s talk. Because your financials should help you drive - not just keep you looking in the rearview mirror.
Schedule A Discovery Call Today
If you’re ready to get a handle on what’s really going on in your business and start moving forward with clarity, book a free discovery call. We’ll talk about what’s working, what’s not, and how we can help.