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dealing with debt and a financially irresponsible spouse


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dealing with debt and a financially irresponsible spouse

I am married to a man that isn't exactly financially responsible. When he finds something that he wants, he will do whatever is necessary to buy it. This has caused us a lot of debt over the years. What can you do when you are married to someone that doesn't take being in debt seriously? How do you approach him or her about their spending habits? I have worked with a financial professional to learn how to manage my money, how to discuss our money problems with my husband and to learn how to reduce my debt as quickly as possible. Find all this information and more here on my blog.

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4 Signs Your Business Needs A CFO

As a small business growing into a larger one, you undoubtedly don't want to take on unnecessary expenses. But when can will you know when you should invest in your future by hiring a CFO in addition to your accounting Controller? Here are a few signs.

You Need to Evaluate Your Profit. A Controller and the related accounting staff can help you determine whether or not you're making a profit. But a CFO is one who identifies way to maximize that profit and make it larger. CFOs analyze your customer basis to help you know how you make money exactly as well as how you can boost that customer pool to turn a small profit into a larger one. They will also assess your staffing and expenses to find ways to lower expenses. 

When You Need to Analyze Reports. Controllers have experience creating reliable financial reports and analyzing them to some extent. But a CFO will take those base numbers and see where your risks and strengths are. This is particularly valuable when you want to expand, to enter new product lines, or to purchase existing assets. A CFO's specialty is translating report data into your real-world acquisitions to ensure you invest correctly and avoid overpaying. 

When You Want to Acquire. Mergers and acquisitions are a complex undertaking. If your small business is ready to take on new assets, new businesses, and new investments, then it needs a CFO to analyze them for you. CFOs are trained to study the financial reports of existing businesses to determine if they're a good investment, what their liabilities are, and how you can integrate them into your own company. They can also take a hard look at your company's readiness to go into new territory. 

When You are Entering New Markets. Moving outside your geographical radius is a big step. When you cross state border and national borders, you need a hand guiding all the accounting functions as well as logistics and legal matters. Every jurisdiction has its own rules, so you need someone to oversee compliance and strategy at this time. But you can't get so focused on meeting outside requirements that you forget to keep your company up to the task. A CFO will do both.

Are you ready for a CFO to take control of your company's finances and help guide its future? Even if you can't afford to hire a CFO on your own, an outsourced CFO service can provide the best investment. No matter how you decide to hire a CFO, your business will benefit for years to come.