Sometimes your company is facing something big. Really big. And you want access to big, creative financial brains that have been there and done that. An Owl Interim CFO is the answer.
We help companies during some of their largest financial initiatives, including:
- Strategic business and financial planning
- Buying a building
- Getting venture funding
- Getting angel funding
- Launching a new product or service
- Market analysis
- Pricing strategies
- Going public
- Going global
- Moving to a new state
- Transitioning to the next generation
- Selling a company to either internal or external buyers
- Working through a turnaround
When to Outsource
- When you’re in need of focused vision and direction to keep your team (and you) on track.
- When you want to establish — and achieve — immediate viability as well as strategic, long-term success.
- When you need the insight and fresh eyes of a qualified, objective third party.
- When you’re the kind of person who surrounds yourself with top-notch people but can’t afford to hire a top-notch CFO full-time.
- When you’ve been pretending that, between you and your accountant, you’ve “sort of” got your financial strategy figured out.
- When you’re tired of paying people for “chair time” and want reliable, accountable, results-focused performance.
- When you’re growing, but you know you can grow more.
How To Choosing the Right Outsourced CFO
- Choose someone worthy of your trust.
- Choose someone adaptable.
- Don’t go cheap.
- Choose someone who fits your style.
- Choose a person who understands business owners.
DETAILS ON THE “How To”
Choose someone worthy of your trust.
Your CFO should be a strategic partner who can play an integral role in your company’s success.In other words, this is the time to be picky. Handling your financial strategy is a serious responsibility, and the person entrusted with it should be experienced, professional and reliable.
How do you know if a candidate is trustworthy? Don’t stop at the interview: Your candidate should be skill-tested and subjected to an in-depth reference and background check.
Choose someone adaptable.
Small businesses change and evolve. Accounting and financial management are not fields that have traditionally attracted flexible, adaptable people, but that’s exactly what you need. Make sure that your CFO can mold their practice to fit your company and keep pace with your changing business.
If you are hiring an outsourced CFO, don’t be afraid to ask questions: If the candidate has numerous clients, will he or she be available for a special project? If your business expands and you need more time, will the candidate be able to work expanded hours?
Don’t go cheap.
Qualified people cost money. If you pay rock bottom rates, you can expect one of two outcomes: Rock bottom performance, or someone who isn’t around for very long. There may be positions on which you can get away with cutting corners, but this isn’t one of them.
Choose someone who fits your style.
Make sure your CFO can provide the exact level of service you want. That way you always know what you’re getting, and you never pay for more than you need.
Do you want a relationship with someone who essentially tells you what to do and how to do it? Or someone who will listen to your ideas and serve as a sounding board? These are two very different kinds of CFOs. Make sure you know which kind you want to hire and ask questions that help you determine where your candidate falls along that spectrum.
Choose a person who understands business owners.
You don’t need lectures; you need solutions. You must be able to have a comfortable, candid and productive relationship with your CFO.
You need to be able to trust that they will offer you complete transparency and total confidentiality. For these reasons, you need someone who understands business and business owners.