I own a growing transportation company in New York. We've been in business for about 6 years, and do revenues of about $1m per year. We've been growing steadily at about 10% per year.
I think my cash
My expertise is in
Has anyone hired a small business part time
I really need someone who knows how to guide me to grow my business, and make smart decisions.
Has anyone hired such a person? How much is typical to pay for this service? And most importantly: where can I find this person?
Thanks!
Please e-mail ([email protected]) me and I can provide some guidance.
If you are using Quickbooks you might want talk with an
If you are interested in moving into the cloud and reducing the cost of your bookkeeping and generating faster cash flow, and you have a service based business let me know and let's get you registered for some of the vendor demos.
Once you have that in place, then its time to hire a part time CFO so they have a platform to work from. There is no point hiring an expensive CFO if they need to do a lot of heavy lifting just to get a report.
Best. [email protected] www.rainingtransformation.com
These are great questions! One of the Partners of our national firm would be happy to discuss why and when it's a good idea to avail yourself of CFO services - and NOT try to sell you!
Best of luck,
Joe
I have provided part time CFO services for the last ten years, largely in Chicago area. Happy to provide input.
I have held CFO and Controller positions in various companies / industries... Would be interested in chatting about your needs in more depth and expectations...
With the right part-time CFO firm or partner, they should be able to help you increase cash flow, profitability and peace of mind! I would welcome the opportunity to discuss how a part-time CFO can help you and your business.
[email protected]
www.cfowise.com
Regards,
Brad Jones
There are some basic questions you need to be able to answer. Are you looking for someone to come in and address certain issues or are you looking for a long term "on-call" type relationship. You can pick from the many responses you have recieved or contact a finance focused employment firm. There are also many other organizations including "semi-retired"
I have been a CFO/Controller for more than 20 years and now do consulting. I've worked with 1 firm a little smaller than yours in revenues to act as a sounding board at first on a variety of business issues. From there we expanded it to creating budgets/forcasts, holding quarterly meetings to evaluate the business and I currently still sit on the Board of Directors. I would be happy to talk to you more and am based in central New Jersey.
Regards,
John
John Alexy, CPA, CMGA
[email protected]
It sounds like you have created a very nice business in a short period. There are many individuals and organizations that provide part-time CFO services and each of them has different backgrounds and experience, target clients of various sizes, industries and types of business ownership. Fees and services will also vary widely but can be charged by the hour, day or on a retainer basis at a monthly rate depending on whether they are being used for a project or on an ongoing basis. Hourly rates can vary widely from $100 to over $400 per hour. You generally want to develop a long-term relationship so that the person you retain develops a good knowledge of your business and your needs. Part-time CFOs can help you with your monthly financial statements, give you good financial counsel for your business and be very useful when you are thinking of selling or buying a business, implementing new business software or need help when your business is struggling financially.
In my opinion, you should also have a local CPA firm to help you stay compliant with all of the
Ask your CPA for suggestions, ask at local business gatherings such as Chamber of Commerce meetings which will have small-business members similar to you as well as part-time CFOs. I would also suggest that you schedule a meeting with your local SCORE chapter which is an SBA sponsored group comprised of retired and active local business owners who volunteer to help other small businesses and best of all their services are provided free of charge.
Hiring a part-time CFO is a real plus for a small growing business. A good consultant can provide skills that you don't have and don't want to pay a full timer for untill you have grown significantly, due to cost. Finding the right long-term consultant is vital as this individual would be able to spot trends in your business over time and have more insight into your operations. I have provide consulting services to a number of my clients for well over 5 years now and because of their size, I have an excellent understanding of their day-to-day operations and can help the owner/CEO on issues as they arise. I am available to my clients on a 24/7 basis as thing happen at the oddest time. I encourage you seek out a consultant that you are comfortable with and talk to them frankly about your needs.
[email protected]
www.renaudadvisors.com
Regards,
David Renaud, CPA, CGMA
There are a fair number of consultants here on Proformative and on a Google search.
You need to have (which it seems you do) a concept of what you need done, and an open mind to accepting suggestions from the Consultant you hire. In fact, that Consultant should do a 360 degree Gap Analysis with you to highlight as many areas as possible that could use improvement.
You then can focus in on the top issues and move from there. Remember, a problem in area "A" can be caused by a problem in area "B" and effect or cause another problem in area "C", thus why I recommend a 360d Gap Analysis.
Good luck!
