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:
•Lacking the accounting skills necessary to make difficult or urgent decisions
•Spending too much time in the business and not enough on the business
•Need for executive-level expertise, but no cost justification for a full-time position
•Obtaining meaningful, timely, and accurate financial statements and management information
•Evaluating equity transactions and owner equity protection
•Developing key relationships: venture capitalists, bankers, auditors, lawyers, accountants
•Maintaining vital flow of financial information during employee turnover or leaves of absence
•Selecting and implementing accounting software
How can Evergreen CFO Services help?
We provide experienced talent to address the challenges faced by emerging businesses on an outsourced, part-time basis. Our outsource CFO staff typically works one or more days per week on site, which positions us to immediately address pressing financial concerns, mentor staff, and help you make critical decisions.
About Evergreen Advisors
Evergreen Advisors is a boutique middle market investment bank and corporate advisory firm focused on servicing organizations throughout their financial lifecycles to drive successful outcomes. Serving the Mid-Atlantic region including Maryland, Washington D.C., Virginia, and Pennsylvania, Evergreen Advisors, was formed in 2001 to provide innovative and strategic solutions to meet our clients’ evolving business needs.