Growing your business from a bootstrapped start-up to an angel or private equity backed growth stage business is simple, right? Hire a CFO and they will magically transform your business to the sophisticated, complex and financially intelligent enterprise that institutional investors expect. Not exactly.
Time and time again, as CFO's we have continually witnessed the mistakes founders and early stage companies make. We understand the rational, i.e. conserving cash; not "needing" the expertise at that stage; we will fix it when we get there, we can't afford nor attract a competent CFO at our stage (too much horsepower), etc. However, when the company is raising money or reaches the next stage many find that there is not a quick fix. Decisions had been made at the early stage and lack of infrastructure to leverage the financial and accounting systems make the cost overwhelming - not just the hiring of a CFO. Most importantly, the fix is not quick and when a company lacks the financial information, process and discipline the "cost" may be the loss of a future funding round.
There has to be another way. Fortunately, there is with CFO Shift.
We utilize technology to enable our geographically dispersed CPAs and former CFO's to provide a reasonably cost infrastructure to provide the start up with base level accounting infrastructure. As the company grows, they simply subscribe to our fractional CFO services and leverage the infrastructure. Once the company matures and perhaps hires an internal CFO the handoff is simple and there is no significant transfer cost.
Contact us today to learn more about how CFO Shift can help shift your resources and your costs and help your company reach the next level.