by Rob Joseph, Director, BeaconCFO Plus
In the life of any business owner, decisions are around every corner—some will be quick and reactive and others will take more time.
Should you hire that person? Are you choosing the right funding sources for your startup? Is that new joint venture with a partner a good idea? From personnel and business structure to strategy, decisions can involve every aspect of your business. Most circle back to one key factor: your finances.
Without a clear and full understanding of your financial data, you cannot make sound executive decisions—and this is a problem for nearly half of all business owners. CIO Dive highlighted that 41 percent of businesses struggle to turn data into decisions. In their report, they found the key roadblocks to data–driven decision–making to be:
- A lack of data
- A lack of access to the data
- An inability to gather relevant insights from data
This is where a fractional CFO can help. We live and breathe data—and we champion data literacy. We do much more than crunch the numbers: Our mission is for you and your team to know the numbers. This means making sure data is easily accessible and available across all facets of your organization. Our seasoned CFOs will tell the story of the numbers and help you understand the potential risks and rewards associated with even the smallest decisions. This allows you to align your overall goals and decision–making with the financials.
Reach Out to BeaconCFO Plus
Make Decisions With Confidence
If decision–making is a constant source of stress and uncertainty for your organization, it is time to engage a virtual CFO. Let us help you make decisions with confidence, rooted in an accurate and timely understanding of your company’s finances. Reach out to schedule a consultation with one of our experienced CFOs.