FAQ

Do I need a CFO?

5 Signs Your Company Needs a CFO

  1. You are not getting your numbers fast enough or you can't rely on them. You are lacking key data and information that allows you to make better decisions.
  2. No one is watching your costs.
  3. You're not as profitable as you should be.
  4. Your company is growing faster than your financial and business systems can handle.
  5. Your bankers and investors are frustrated by the lack of a CFO on your team.

If you’re still uncertain whether you need to hire a full-time CFO, or are concerned you don't have the financial resources to do so, you could benefit from enlisting a part-time or fractional (small amount of time) CFO on a trial or even permanent basis.  There are many firms (including Verbeckassociates.com) that provide these services for small and medium-sized businesses.

I need a full-time CFO.  Part-time or fractional won't work for us.

I hear this comment frequently.  Many business owners feel they need a full-time CFO, but when they break down the actual responsibilities, find that a fractional or part-time CFO paired with a strong bookkeeper, accounting manager, or controller can be an affordable option. This gives the CFO input and influence while reducing the expense (i.e. benefits) a full-time employee would require.

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