Beyond accounting: Feedback, please

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PatrickM

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Many small and medium businesses do not need and also cannot afford a full time chief financial officer (CFO).

I’ve been thinking about providing services that 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?
 

Julia Sta Romana

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1. Would you be interested in this program? Why or why not?.
I would! I know enough about finance to keep records and pay taxes. But I don't know whether or not which investments would be worth the risk.

2. What frustrates you most about running your business?
Because I am so involved in a little bit of everything, I get analysis paralysis once I look into the finances. Marketing and operations is my comfort zone. I want to be better at using finance to tie the two together.
 

PatrickM

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Thanks for the feedback Julia

Many SMB owners believe that having an external accountant covers all the financial issues of the business ... unfortunately it doesn't.

The role that I envisage is identifying and helping SMB owners resolve the blind spots that have negative impacts on their business. There are often both opportunities and risks that are overlooked. These blind spots may be outside the owner's comfort zone and ignored or not even seen.

Another role would be as an accountability partner. As when dealing with all the day to day urgent matters and firefighting many important issues are neglected. Plans may be made but not executed.

The other issues that could also be addressed are building the value of business - the working on the business rather than in the business, assisting with building the business system, developing systems and procedures, preparing budgets, pricing policy, business planning and being a sounding board for planned decisions.

PS I spent about 4 years working and living in Cebu and loved it.
 

SkyWriting

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Many small and medium businesses do not need and also cannot afford a full time chief financial officer (CFO).

I’ve been thinking about providing services that 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?
I know of one such business. It's a great idea! Go for it.
 

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