Small Business CFOs: Do You Need One?
I just published an article on the Huffington Post and wanted to share it with you. Here’s a brief excerpt:
It’s a growing pain that many small businesses have. Company founders and CEOs are rarely equipped to handle financing strategies, budgets and dealing with investors. But bringing on a chief financial officer is not cheap. If your company’s revenue is growing quickly, you have new investors and/or you’ve received venture capital, it could be time.
When I started my online marketing company VerticalResponse, I made the colossal mistake of not hiring experienced people because I was so concerned about saving money. I raised a small amount of funding from friends and family as well as my own money. I’ll admit, I was scared; scared of what I didn’t know. I’m not an expert in anything related to accounting, so I reached out to one of my networks to get people I could have do these functions. After all, I was under the impression that launching our product and getting customers was most important, not to mention that’s what I happened to be an expert in.
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