FAQs

Are CFO services expensive? Can I afford it?

Senior financial expertise is an investment in your business and it pays for itself. At teamCFO, we do not charge by the hour. Based on the work involved, we estimate a retainer fee and that’s all. You don’t have to worry about the fees going up. In addition, teamCFO offers a team approach so you have more than one professional working on your business.

Are you asking these questions? We can provide the answers.

  • How is my business doing financially?
  • What is the best direction to move my business forward?
  • What critical financial data do I need to know about my business?

Hold on a minute! Can’t my tax accountant CPA handle all of this?

This is a common question we encounter. teamCFO has nothing against your family accountant or friend’s favorite CPA. They have provided you with good guidance in the past, but we know, as your business grows, the level of operational experience needed increases and at some point it is beyond the knowledge of your tax accountant CPA.

If you have a growing business, what worked at the beginning may now hinder your progress. Senior level management skills are the answer. You need quality help and tailored solutions, focusing on current performance needs, long-term fiscal planning and guidance, and/or a more hands-on, ongoing operational approach. Whatever you need in these areas of expertise, teamCFO can provide it.

How can I tell if teamCFO’s services can help my business?

We have broken down sound financial management for any successful business into 4 major areas. If you are missing any of them, your business is not performing at the highest level:

  • Are you receiving timely and accurate financial reports on a monthly basis?
  • Are you monitoring your cash needs and spending? Do you know your cash breakeven point?
  • Do you have a realistic budget in place to monitor expected performance as well as re-directing as new things or unexpected issues come up?
  • Do you understand the risks you are taking on when making key financial decisions such as hiring key employees, adding a new warehouse or purchasing new equipment? Do you have a backup plan?

I have a Controller so do I need a CFO?

A true Controller (the title can be misleading) oversees the day to day operations and is primarily responsible for the accuracy of transactions recorded and producing timely financial reports based on those transactions. A Controller works with Past and Current data.

A CFO is about Growth and works with Current and Future data. A CFO will evaluate current results and analyze what it means and how it impacts your future plans. In addition, a CFO will focus on getting the business ready, doing what is necessary to move the business forward.  A CFO is about forecasting, projecting, analyzing future plans and the bridge between now and tomorrow.

Why should I engage teamCFO?

Once you have come to the conclusion that you need more financial expertise to help move your business forward, then you should contact teamCFO. Here is why:

  • We have a passion for business, not accounting. We know that financial reporting and accounting are just a platform to help a business succeed. We help each business improve its performance and that is how we measure our success. Your success is the standard we set for ourselves.
  • For over a decade we’ve had a track record of partnering with CEOs and delivering results. We bring a collective experience, gained across industries, to all of our clients. See our client stories.
  • With teamCFO, you have a team behind your business, not just one individual. Our team can expand or contract with your business as your needs change.