Is this what your company is experiencing today?
Your startup has now scaled to a $5M annual revenues. Your company is growing at a pace of 15-25% a year. Your product line or service offering is expanding. Your employee headcount is now 25-50, you are growing at a fast pace. Your small team of accounting staff is no longer able to handle complexities of accounting and finance. You are busy managing the sales pipeline, working towards your long term company goals but just dont have the right resources to manage your accounting & finance function. Your staff is able to handle all the routine Accounts receivable and payables but you see the need to hire a strategic leader. The resource who can take your finance & accounting department to the next level.
This may be the right time to hire a CFO. How can a CFO help?
While the above are the key responsibilities of a CFO, there are often times situations when you may not require a full time CFO until your revenues are atleast $15-$20 M each year.
In these scenarios, a consulting CFO may be the right choice for you. There are various options available but the best may be to hire a CFO on a regular basis for limited hours until your business is able to hire 1 full time...
Many companies offer part time and consulting CFOs to assist with your business. So, ensure you take an informed decision based on your business situation.
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