15 signs that you may need a finance director for your business!

THE PROBLEM

When business owners or entrepreneurs start in business/finance, what they had in mind were the following opportunities:

• Freedom: to work when, how and where 
• Control: opportunity to do the things that make them happy AND spend time with loved ones
• Money: to enable them to do the above without worrying !

But now that they are in the midst of running their business, reality is far from the dream!

HOW YOU’RE SPENDING YOUR TIME

The standard ‘day-to-day’ is far from the freedom or the strategic input that they know that they should be spending their time on.

Instead the business owner is spending time on:

• fighting fires
• recruiting and managing staff
• dealing with customer complaints
• managing cash flow
• trying to make sense of the finances
• trying to win new business

Remember…

• Profitability is key to any business’ success. 
• Cash is key to every business’ survival AND 
• ‘Profit’ and ‘Cash’ are NOT the same thing !

THE SOLUTION

When a business gets to a certain size and complexity, the role of an experienced Finance director is critical is ensuring the financial sustainability, resilience and future growth of that business. 

This does also bring quite significant costs (and risks) for a business that is planning to recruit it’s own ‘in house’ Finance Director e.g. annual salary costs of £80,000 to £120,000 on average, BEFORE any other bonuses, benefits, pensions etc are included.

However, it’s exactly what these businesses need the MOST – and where we can help !

We can offer a Virtual (or Part time) Finance director on a more affordable and risk free basis to help you to clarify i.e.

• WHERE YOU ARE NOW  
• WHAT’S YOUR PLAN (OR GOALS) I.E. GROWTH, INTERNATIONAL EXPANSION, AN EXIT ?
• HOW QUICKLY DO YOU NEED TO GET THERE ?

SO WHAT ARE THE KEY SIGNS THAT INDICATE THAT YOUR BUSINESS NEEDS A FINANCE DIRECTOR? 

• This business is profitable, so why do I always seem to struggle for cash? 
• The business is profitable, so why am I still not able to pay myself enough?
• I don’t know if my business is actually profitable! 
• I don’t know if different business activities (or projects) are profitable?
• Am I making enough profit in my business?
• I don’t have any cash to one side to pay VAT/Corporation tax etc and it is coming up for payment!
• I am not sure how to start to improve my cashflow?
• Why am I not in more control/not know what is happening?
• Why Am I (still) working so hard/doing everything?
• How do I get to the point of being able to take the kids to school, work away for a few months each year etc?
• How do I know how or when I can take money out of the business?
• I am not sure how I keep growing my business?
• I want to grow the business nationally/internationally but need help!
• Can i sell the business in the future?
• What do I need to do to ensure that I can sell my business in the future?

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