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Posts Tagged ‘Profession’
Wednesday, February 10th, 2010
Does your CPA like being an accountant?
It’s a funny question, isn’t it? And it’s probably one you’ve never really thought about before. However, it’s incredibly important, especially if you want to get the best value for your dollar.
If your CPA isn’t satisfied being an accountant or spends all day wishing he or she could be involved in another profession, you’re simply never going to get the service you deserve. And believe me — there are plenty of these types of CPAs out there. They’re not difficult to spot, and you probably already know if your CPA fits the picture of someone who would rather be in another line of work.
Now, I’m not suggesting that your CPA has to be some kind of Pollyanna, but if it seems like every task you ask him or her to do is met with sighs, disgust or resignation, it could be time to change CPAs.
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Cash flow on your mind? Sign up for my free report, 9 Ways to Increase Your Cash Flow.
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FinancialFutureCFO: Protecting your company for the future.
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Tags: Being An Accountant, cash flow, Cpa Accountant, Cpas, Disgust, Dollar, Funny Question, Met, Pollyanna, Profession, Resignation
Posted in Change your CPA | No Comments »
Friday, January 29th, 2010
In my profession as a virtual CFO, the more my clients understand financial matters, the better it is for everyone.
That’s why I’ve developed a special resources page at my FinancialFutureCFO website.
At the resources page, you’ll find:
- HR forms, info and links
- Legislation info
- A Tax Center (great for quickly finding what you need)
- Videos, articles and more
I invite you to check out the resources page. If I’ve neglected to include anything you feel should be added, let me know by commenting below.
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Concerned about cash flow? Sign up for my free report, 9 Ways to Increase Your Cash Flow.
FinancialFutureCFO: Protecting your company for the future.
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Tags: Advantage, cash flow, Dozens, Financial Matters, Financial Resources, Hr Forms, Legislation Info, Profession, Special Resources, virtual CFO, Website Resources
Posted in Free reports and resources | No Comments »
Friday, January 15th, 2010
Every profession has its myths and misconceptions, and the realm of the CFO is no stranger to that phenomenon. Therefore, I’ve decided to take a few minutes and debunk some of the commonly-held beliefs about those who have chosen my career path:
1. CFOs are Expensive
When I first tell people I’m a virtual CFO, I can see it in their eyes — the concern that what I do is going to cost them plenty. Fortunately, they start to realize after chatting for a bit that I am not out to turn my clients into cash cows. In fact, my business is to save them money and protect their financial interests. Do I charge a fee for that service? Yes. Is it intended to buy me a yacht? No.
2. CFOs Always Say No
My fellow CFOs will understand this myth. We are somehow portrayed as the keeper of the “nays”! But I contend (as I’ve written about in blog posts here before) that the best CFOs will have the words “no” AND “yes” in their vocabularies. I prefer to look at each situation comprehensively before rendering an opinion, and oftentimes that opinion includes numerous options, not a definitive “it can’t be done”.
3. CFOs are Unnecessary for Entrepreneurial Ventures
Well, this certainly isn’t the case, especially for entrepreneurs who are serious about continuing to grow their companies (and, let’s face it, most fall into this category!) I like to believe that having a CFO on board can be the jumpstart a very tiny organization needs. I’ve seen this happen again and again.
Bottom line? Don’t allow what you think you know about CFOs (virtual or otherwise) to keep you from looking into hiring one. It might just mean the difference between a 2010 to forget and a 2010 to remember!
FinancialFutureCFO: Protecting your company for the future.
Join FinancialFutureCFO on Twitter.
Tags: Bottom Line, Career Path, Cash Cows, CFO, Common Misconceptions, Debunking, Entrepreneurial Ventures, Fellow, Few Minutes, Financial Interests, Jumpstart, Myth, Myths, Nays, Path 1, Phenomenon, Profession, Stranger, virtual CFO, Vocabularies, Yacht
Posted in Myths & Misconceptions | 1 Comment »
Friday, January 8th, 2010
I’ve always found the saying “when you fail to plan, you plan to fail” pretty doggone convincing. Maybe it’s just the profession that I’m in, but it seems to be accurate across the board. And it’s not just relegated to the financial aspects of a business… the adage is appropriate for marketing, hiring, sales, management, and more.
So why do so many people fail to plan? I think the reasons are sometimes complex, but it probably boils down to one word: Time. (Or, more accurately, what professionals believe is their lack thereof.)
Too many business people seriously believe they do not have the time to develop a thorough plan or to “worry” about such things as internal audits. When they finally recognize that they’ve been lax, their problems (which could have been prevented by planning ahead of time) have multiplied. And that’s often when virtual CFOs or CPAs like me are called into the picture.
(NOTE: Don’t get me wrong — I love to work with clients, even when their situations are complicated. It’s just a little frustrating when I realize how easy it would have been for them to be in a much better position if they had only focused their energies on planning instead of immediately “doing”!)
Wouldn’t it be wonderful if more business owners called financial management pros BEFORE the crisis point? If they spent just a little time upfront planning and strategizing, they’d eliminate many problems down the road.
So… are you ready to plan or ready to accept failure as a penalty for not making “time” to plan?
FinancialFutureCFO: Protecting your company for the future.
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Tags: Adage, Business Management, Business Owners, Cfos, Cpas, Crisis Point, Failure, Financial Aspects, Financial Crisis, financial management, Hiring Sales, internal audits, Little Time, Management Pros, marketing, Marketing Management, Marketing Sales, Planning, Profession, Sales Management, Word Time
Posted in Planning | No Comments »
Saturday, December 26th, 2009
I’m very supportive of any knowledgeable person becoming a virtual CFO, but only if he or she does it for the right reasons. Otherwise, the client will receive a fraction of the service deserved.
How can you tell if your virtual CFO is passionate about his or her work? Though there’s no definitive “litmus test”, there are characteristics and credentials for which you’ll want to look:
- A sense of optimism. If your virtual CFOimmediately shoots down all your ideas without even giving you an explanation, maybe he or she isn’t too thrilled about the job. The best virtual CFOs are possibility-thinkers and look for solutions, not reasons to say “no”.
- An impressive resume. A strong resume suggests that a virtual CFO likes his or her chosen profession and isn’t just doing it to get a paycheck.
- A commitment to continuous training. Anyone who loves what he or she does is typically committed to learning as much as possible. If you’re considering a virtual CFO who hasn’t attended so much as a seminar since the Clinton presidency, you might be getting sub par work.
- A willingness to do the major work him- or herself. While there’s nothing wrong with a virtual CFO having a team around him or her, you want to make sure that your business isn’t being “farmed out” to someone else. When you hire a virtual CFO, you should expect to work with that person, not one of his or her colleagues (unless that was your originally intention or agreement.)
In the end, you have a business to run… and that means every person you hire — whether in an employee or consultant capacity — should be as committed to your company’s success as you are. And that includes your virtual CFO.
FinancialFutureCFO: Protecting your company for the future.
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Tags: Cfos, Clinton Presidency, Colleagues, Consultant Capacity, Continuous Training, Credentials, Fraction, Intention, Job, Knowledgeable Person, Litmus Test, Optimism, Paycheck, Possibility Thinkers, Profession, virtual CFO, Virtual Love, Willingness
Posted in virtual CFO | 3 Comments »
Monday, December 21st, 2009
You want to hire a virtual CFO to help you grow and maintain your company. But you’re unsure of how to interview prospective applicants.
Fortunately, you’ve come to the right place.
Here, I’ll share with you seven great questions to use while interviewing an individual for a virtual CFO position.
1. How long have you been working in the financial industry?
Believe it or not, a lot of entrepreneurs don’t take into account the length of time that a virtual CFO has been working. Instead, they tend to look at credentials and education, but a solid CFO should have years behind him or her in addition to having exceptional training.
2. What is your process?
It’s important to understand the way your virtual CFO works. Does he or she designate specific times of the week or month for client discussions? Or is it on an as-needed basis? Remember that virtual CFOs have numerous clientele; you have to know how your virtual CFO will include you in the mix while still providing individualized service.
3. Can you come to my location?
Depending upon the flexibility of the virtual CFO, occasional office visits may be a practical way to do business. However, if geography is a problem, traveling to your site may be cost-prohibitive. If you absolutely want a virtual CFO who can regularly come to your building for meetings, trainings and the like, choose one that’s located reasonably near your area.
4. Why did you become a virtual CFO?
Again, this isn’t a common question but it’s a good one. What you don’t want to hear is: “There’s money in it!” or “I couldn’t get along with any of my bosses so I left the corporate world.” You deserve a virtual CFO who really cares about working with clients, not someone who sees the profession as an “easy street”.
5. Do you ever turn clients away?
Another great question for your potential virtual CFO is to determine if he or she turns down work. You need a professional who is selective, not one who says “yes” to any project that comes down the pike regardless of fit.
6. How do you bill for services?
There’s really no right or wrong answer to this question, but it’s going to be important for you to know before you can make any choices.
7. Can I have a list of references?
If your virtual CFO can’t give you a single reference, it may be because he or she has a nefarious track record. Typically, even if some clients are unwilling to be references due to confidentiality issues, others will be happy to talk to prospective clientele of virtual CFO services.
FinancialFutureCFO: Protecting your company for the future.
Join FinancialFutureCFO on Twitter.
Tags: Cfo Position, Cfos, Choose One, Client Discussions, Clientele, Credentials, Education, entrepreneurs, Exceptional Training, Flexibility, Geography, Interviewing, Length Of Time, Money, Occasional Office, Profession, Prospective Applicants, Traveling, virtual CFO, Virtual Office, Working With Clients
Posted in virtual CFO | No Comments »
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