Beyond accounting! Feedback, please!

Discussion in 'Market Research' started by Millerd, Apr 28, 2020.

  1. Millerd

    Millerd UKBF Contributor Full Member

    40 9
    Many small and medium businesses cannot afford and do not need a full time chief financial officer.

    I’ve been thinking about providing services that these business owners without a CFO need. How do they manage the profit and cash management aspects of their business with so many other business priorities?

    I am considering a 3-month long online program to cover at least one 90 day action plan cycle.

    The service that I would provide would be like having your own part-time (fractional) CFO.

    1. Would you be interested in this program? Why or why not?.

    2. What frustrates you most about running your business?

    Thanks in advance for your help!
     
    Posted: Apr 28, 2020 By: Millerd Member since: Feb 24, 2019
    #1
  2. Jan Rottel

    Jan Rottel UKBF Newcomer Free Member

    4 1
    1. What you describe is an outsourced CFO service. It is common in the USA.
    2. I guess that your question is related to the frustrations related to profit and cash management. In this case, I would like to say that the most frustrating that's when you spend a significant amount of money in accounting department get no KPI's.
    So, We have chartered accountants who tell us that without them we could not run our business, and then we discover that they deliver a service that is just good for government compliance but nearly useless for managing a business.

    I hope it helps.
     
    Posted: May 25, 2020 By: Jan Rottel Member since: Nov 26, 2018
    #2