CFOs On Demand
Importance of a Chief Financial Officer in Business
If you are a small business owner, there are telltale signs that your small business badly needs a CFO. You must commence the selection process for a CFO immediately if: 1) The company's profits are experiencing an great growth, 2) The company has acquired venture capital, and 3) You will find more than 30 personnel presently employed.
When choosing a CFO, you should keep in mind that hiring a highly qualified CFO can take as long as half a year and could potentially demand a basic salary around $150, 000 to $250,000 per month. The salary may be seriously expensive, but creating a CFO manage your company's financial requirements can ensure a possibly problem-free and longstanding business venture for you.
In the event that hiring everlasting CFO services is truly impossible, one option for you is to employ a part-time CFO. Seek out one with a solid background, preferably a former CFO from another company. Part-time CFOs are usually required to improve two days a week, but may render additional hours depending on your company's requirements.
A part time CFO will help you with planning and executing financial systems and even add to your long-term business strategies. A part-time CFO can work for a new company that has limited resources.