Value in a Chief Financial Officer

After returning to South East Queensland in 2011 the first thing that I noticed about business that surprised me was the lack of real interest in having a true and clear understanding of the financial position and performance.

Why don't business owners and managers do something?

It's not everyone and you might have the right grasp of your business finances, understand what is going on and be able to quickly and effectively make decisions. But many don't. I feel many are a bit scared of it, daunted by the task. We all have areas we're trained and experienced in, for most this isn't financial management.

From my perspective it isn't something people should be embarrassed about either. Be it the way business is conducted or how you feel it is (or isn't) performing, in the industry we work with all types and see many things. We're not the experts in what you do and we don't judge it but we're here to support it and give you information to help you do more of it and better.

You might also feel it is just too complicated and your gut feel is enough to keep things moving forward. You might be able to keep your head above water, or even have a nice and profitable business. But can it be better? Might you feel really knowing the situation and what's actually happening could be helpful?

So what is the value of a CFO?

A good CFO will be able to provide you with an insight and understanding of your financial situation. The communication will be clear and paint you the right picture, give you the story of what has been and is happening in your businesses. A good CFO won't just leave you with a bunch of reports but will ensure these meet your needs, are of value to you and talks you through the key points.

All of those feelings and fears, the lack of confidence and the concerns will all start to slip away for you once you find that way to get on top of it all, delegating the hard bits and being able to focus on your strengths and the real value in your business.

What should you do now?

If you can relate to any of the above, feel a hand in proper financial management of your business will be beneficial, the best thing is to contact someone with expertise in it. Anyone you feel is a good fit for your needs is the way to go. We are certainly happy to meet and have a chat. No obligation and in everything we do we look to understand the situation and present solutions and value.