It is important for your business to have clean, accurate, financial statements, but that doesn’t help you as a business owner if you don’t understand them. Most small businesses cannot afford, and do not need a full time Chief Financial Officer, but still need help. Hiring a Virtual CFO may be just what you want and need for your business.
A Virtual CFO can help you in your business in many ways. I can help you understand your financial statements and supply you with reports monthly to fully understand how your business is doing. I can find the key parts of your business that can indicate how your business is doing now and how you can help it grow. I will help you make financial decisions using past and present financial data.
Many businesses just look at one small period of time, or one small part of their business when making major decisions. Without having a full understanding of where your business is at financially it is hard to make any decisions.
You may need a Virtual CFO if any of the following statements are true:
–I know how my business is doing each month based on the amount of money in the bank–
–I do my bookkeeping once a year to prep for taxes–
–I take money out of my business as I need it, I do not pay myself a set amount each month–
–I have had to take out high interest loans and credit cards to pay for repairs, equipment, and to help me get through my slow season–
–I’ve never created a budget or cash flow forecast–
–I don’t know how to read financial statements–
These are all very common statements I’ve heard from many business owners. Many people are too embarrassed to ask for help, or think things will get better soon, but they never do. The first step to relieving the stress of finances is asking for help.