The biggest weakness we see in entrepreneurial businesses is a lack of access to high-level financial guidance when and where it’s needed. At the end of the month, quarter or year, it’s 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 an outsourced CFO can be that key.
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
- Maintaining vital flow of financial information during employee turnover or leaves of absence
- Selecting and implementing accounting software
How can Evergreen CFO help?
We provide experienced talent to address the challenges faced by emerging businesses on an outsourced, part-time basis. Our 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.
Mark Gretz is a Vice President with Evergreen’s CFO Services department and he can be reached by calling 410-997-6000 x234 or e-mailing him at firstname.lastname@example.org.