17 Sep I Can’t Afford a CFO

As I talk with business owners some have told me that the Fractional CFO business makes sense, they can see how it would help them in their business, but they don’t think they can afford it. My answer is simply, how can you not afford it…at least that’s what I think…however, I am more diplomatic in my responses. The questions I usually ask…How much time do you spend working on the tasks that a CFO could do for you? Wouldn’t that time be better spent on working on growing your business? Doing the things, you do best, not on the tasks you dread and put off until you are tired at the end of the day, or on the weekends. Another question is “How much does one “bad” decision cost you?” Most business decisions need to be properly vetted financially so you can make an informed business decision based on logic and fact, not based on emotions. When it comes to our own businesses, we tend to see all the upside, all the benefits, all the potential…isn’t that why we became business owners, the entrepreneur in us takes hold. We need someone to play devil’s advocate…ask where are the potential pitfalls, what can go wrong, what are the risks, how much money can I lose? A Fractional CFO can play that role of asking the hard questions…not to be a wet blanket, but as an impartial sounding board. So, as you look at our services, ask yourself…how can I not afford having A Fractional CFO. We will pay for ourselves in the long run.