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Why using a Virtual Chief Financial Officer (VCFO) makes sense!

Why using a Virtual Chief Financial Officer (VCFO) makes sense!

It’s challenging enough being a business owner, even more so when you’re having to deal with endless issues day after day, or trying to grow or even start your business, or simply trying to survive through tougher times.

Dealing with everything that is going on in your business can be a burden, is quite often time consuming, and something that some owners struggle with and understandably so.

Not everyone is good at everything or has the time to focus on all aspects of a business and do it well. You got into business in the first place because you were good at what you do and wanted to make something of it, but running a business quite often involves a lot more.

Most business owners quickly build a support network around them that includes lawyers and accountants, insurance brokers and bankers, to use as and when they are needed.

You may even have a book keeper too to handle the accounts and administration, a time consuming but important function.

But what about support around making key business decisions, about making changes to your business, about exploring new investment opportunities or deciding how to improve business performance and profitability.

Some accountants can take up that responsibility, but not all. I don’t mean that in a derogatory way, I mean that from the perspective of being able to do it when you want it done, not when they can free up time to do it, i.e. they work to your schedule, not you to theirs. (more…)