Wednesday, August 13, 2014

Does Your Small Business Need a CFO?

by Lisa Maida

I read an interesting article recently about whether or not your company ACTUALLY needs an official CFO…or if your company just needs a really good cash manager. The article suggests that most start ups (and I agree) don’t need a CFO until they get large enough to be considering major strategic scale-ups like IPOs, mergers or acquisitions, or taking on huge amounts of investor funds in order to achieve an objective. It’s all true!

Cash really is king. You hear it everywhere from the dusty roads of Kansas to the high flying neon dream world of Las Vegas. Cash makes the world go ‘round, whether we like it or not.

Most start ups are self funded. Family and friends empty their savings accounts or a few 401K loans, throw all their spare pennies into a bowl and suddenly you find yourself the owner of a shiny new business. You’re on top of the world, imagining what it’s going to be like to take weekends off, be your own boss, and really make a difference in the world of XYZ...and then…. BOOM! You’re bankrupt.

Why? What happened to all that money you gathered up to make your dreams come true? If you’re like most start up owners, you grossly underestimated how much money you actually could make, would make, and did make. You probably didn't take the time to create a solid business plan, analyze the market you were entering, or create any cash forecasting or budget plans. Maybe you didn't know you needed to. It’s ok- it happens to the best of us- bet you won’t do it again.

Imagine how different it could have been if you’d taken the time and used the knowledge of people around you who have done this a few time. Helius can help. It’s what we do! Our classes are designed to help you identify, address, and tackle just these types of hurdles. We want you to be successful- so give us a call and let us illuminate YOUR entrepreneurial development! 

No comments:

Post a Comment