Five signs you need a Finance Director

In the life of a business, it’s relatively easy to identify the milestone moments regardless of the industry you operate in. They’re commonly all the new things; new markets, new contracts, new resources and of course the progressive addition of zeros in the profit margins. They’re the kind of achievements that make the blood, sweat and tears all worth it.

For the entrepreneur there are additional targets, and while these are equally important, they often go undisclosed and overlooked. These are the achievements that provide you with the resources to make the successes happen.

For many business owners who I talk to, it’s due to a breakdown in their support systems leaving them feeling less confident to make informed decisions.

Five common signs you could benefit from a Financial Director:

Vulnerability

Do you feel exposed and vulnerable when asked important questions? Does your financial team provide you with reassurance or just leave you with more questions?

Cashflow

Ideally cashflows should be showing your projections for the next six to nine months and this visibility of capital is vital for your growth strategy, especially in economic turbulence. Does your cashflow allow you to push your projects forward or does it make you press pause?

Outdated Information

In the world of business, information, both internal and external, can very quickly become obsolete. Do you have the right people who you trust to supply you with relevant actionable information?

Visibility

Good entrepreneurs are constantly looking ahead and strategically planning for the future. The ability to look at every area of the business; from finance, to workforce and production, with X-Ray vision is vital to understand the complex logistics that keeps your company out of the red. Are you happy with the visibility you have?  

Support Team Frustrations

Business owners need to feel empowered by their team, but sadly this isn’t always the case. Sometimes the why isn’t always obvious and the solution is even more elusive.

An outsourced Financial Director can provide you with the expertise and alternative perspective to help your business be as profitable as can be.

Get in touch with me today to see how I can help you.

By Darren Trice

FCMA, CGMA, CEO

 

 

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