Ten questions. Answer yes or no. It takes two minutes.
Most owners do not need a full-time CFO. They need the right level of finance help at the right time. This checklist shows where you are.
- Do you get your P&L and balance sheet after the 10th of the month, or not every month?
- Could you say today how much cash the business will have six weeks from now?
- Do you know which job, matter, location or service line makes the least money?
- Is a bookkeeper or tax preparer making decisions that need a CFO?
- Do receivables, work in progress or inventory tie up more cash than you expect?
- Do you put off hiring, borrowing or investing because you do not trust the numbers?
- Does your banker, surety or investor ask for numbers you cannot produce quickly?
- Are you thinking about selling, bringing in a partner or passing the business on in the next few years?
- Do you spend time on finance that you would rather spend on customers, family or rest?
- Would you like one team to own accounting, controller work and CFO guidance?
How to read your answers
0 to 2 yes: your finance function is mostly working. A yearly review is enough.
3 to 6 yes: you are making decisions with a blind spot. A close by the 10th and a cash forecast will fix most of it.
7 to 10 yes: finance is taking your time and limiting the business. This is where a finance team that owns accounting, controller work and CFO guidance pays for itself.
Want a score and your top three moves? Take the Quick Score, or book the complimentary X-Ray Review.
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Why I do this: to improve the quality of life of business owners by lifting the stress of the finance function and replacing it with clarity.
Gui Albergaria, Founder & CEO
Gui Albergaria, Founder & CEO