Small Business Help Is Here, Says CFO
In this economy, where an increasing number of businesses are losing money, downsizing, and even closing their doors, it is important to do whatever is required to help the business to succeed. This is especially true for small businesses, which seem to be faring worse than big businesses in the current economic downturn. In order for businesses to improve their chances of success, they need to focus on how to increase profits. As a small business owner, it can be difficult to design a plan to do this personally. The fastest way through a financial crisis is to find the best and brightest financial talent available.
There are several different virtual or part-time CFO small business service providers. You can find a Chief Financial Officer (CFO) firm on the web that will help provide the financial advice needed. However, keep in mind, all virtual CFOs are not created equal. A qualified virtual CFO firm should start by designing a financial success blueprint specifically for the business being helped. That blue print needs to address how to improve sales, manage current cash flow, and look at all the financial aspects that make business work. A good example of a qualified Virtual CFO is: http://www.CFOAmerica.net
Some of the best virtual CFO firms offer service packages so that the client knows exactly what they are committing to from the beginning of the relationship. Having someone to consult with that is as good at the financial side of the business as the owner is at the product or service side is no longer just a good idea, it is vital to business survival.
Different virtual CFOs will have varying degrees of success and experience. If they are good at what they do and if they have been successful for any length of time, then he or she should have written and been published. They should have articles and news releases written by them and about them. They should have written and offer books to help educate their clients. The great news is that today, this is easy to check. All that is needed is to go to Google and type in his or her name and whatever credentials they have like, “CPA” or, the name of his or her firm name and then type in their name. Their name or their company name should come up. Their articles, news releases, websites, and social media should be listed many times if they are active in the virtual CFO business world. If none are found, or if only a few are there, that is a red flag. In this economy there are many serious financial issues that need to be discussed, and the best virtual CFOs are writing about them.
Each virtual CFO firm serving small business owners may take their own unique approach to helping each client. It does however seem logical that a CFO that is well versed in working with and helping small businesses would start by helping the owner to design a success blueprint. It only seems logical that building or rebuilding anything needs to start with a blueprint that covers every component and every stage of the business. An example of a success blueprint is available at: http://www.CFOAmerica.net.
A really good small business Virtual CFO firm will involve the small business management client in every step of this process. A step-by-step coaching package or pricing plan should also be offered. The business got onto financial thin ice by not having a Chief Financial Officer coaching the owners on what to do at each financial juncture. The solution to the success being sought is not several financial reports and several motivational phone calls saying “Hey everything is going to be okay!” what is needed is a success blueprint that leads the way from the current issues to the desired outcome.
To learn more about a qualified Virtual CFO, visit: http://www.CFOAmerica.net or call (817)382-7002.
- Contact Information
- Dale R Schmeltzle, CPA
- Managing Partner
- CFO America, LLC
- Contact via E-mail
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