The biggest weakness we see in entrepreneurial businesses is a lack of access to high-level financial guidance when and where it is needed. At the end of the month, quarter, or year, it is all about the numbers. Revenue, costs, cash flow – all the issues that keep an entrepreneur up at night. In any high growth business, a solid finance function is an early key to success. Yet the cost for a full-time CFO may be out of reach for many early-stage companies. For many businesses, a part-time CFO or an outsourced CFO can be that key. This is where those looking to get into the bookkeeping and accounting game may choose to start. It cannot be easy to create a virtual bookkeeping firm, but there are always businesses searching for the right firm to assist with their finances. Equally, those starting accounting firms or are already in the midst of it may require help with workflow management, as firms can get extremely busy, making it difficult to keep track of deadlines and progress. You can find out more at JetPack Workflow for accountants looking to make their day-to-day work life easier.
The leadership through an outsourced CFO solution can make a difference in your long-term financial strategy. While an office manager or bookkeeper can assist you on a day-to-day basis, this strategy does not provide you emphasis on the overall organization. The CFO service provide you a foundation for success.
The challenges we find in all emerging businesses include: