Do You Need a CFO in Your Business?May 17, 2023
Why might a business need a CFO? Some businesses feel that they have a good grip on their finances and can handle everything on their own, which may be true. But what if there were some opportunities being overlooked?
It is important to have a grounded understanding of a business's financial numbers. As a fractional CFO myself, I am responsible for identifying these gaps and having tough conversations with CEOs to challenge their ideas and ensure focus on what is working and bringing in revenue.
I will discuss some tips to determine if you should look into a CFO, and how a CFO can guide and coach a business to succeed and grow.
The key takeaways from this episode are:
1. A CFO can help identify opportunities and gaps in a business's financial numbers that may be overlooked without their expertise.
2. A CFO can guide and coach a business to succeed and grow by challenging ideas and ensuring focus on what is working and bringing in revenue.
3. Fractional CFOs can provide benefits over full-time CFOs, such as flexibility and cost savings.
What you'll hear in this episode:
[2:24] Why you need a bookkeeper in your business.
[4:36] What is a CFO and how does it work?
[7:10] What is a CFO? How is it different from a CPA?
[10:41] Benefits of a fractional CFO vs a full-time CFO.
Financial Operations vs. Financial Management
Things You Should Not Hire an Accountant to Do
How Do I Break Up With My Accountant?
Find my recommendations here:
Connect with Shannon:
Find everything you need at www.keepwhatyouearn.com
Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa
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Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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