As your business scales, it’s only natural to wonder when you should bring a CFO into the picture. However there’s no single best time or best practice for getting one’s “financial house” in order, and therefore each company has unique needs from their CFO. These can vary based on many factors ranging from internal management & communication styles through budgeting and financial planning requirements.
Therefore there’s no uniform “right time” in a business’s lifecycle for when a CFO is needed, but rather one becomes helpful when the financial needs of the company begin to become a burden on current leadership. In short, a good time to bring a CFO in is when the financial expertise required to run and grow the business exceed the owners’ & management’s abilities in that area.
This can present a challenge when that specific knowledge is needed, but not fulltime…which is when an outsourced solution like Premiere Financial Consultants can be ideal. We’ll customize our services to your business’s distinctive needs, with Founder and President Ira Berk acting as CFO & the PFC staff acting as your Finance Department.
Get in touch to learn more about how we can free up more of your time to focus on your core business.