The quicker you want your company to achieve its goals, the sooner you should consider hiring a part-time CFO.
That’s because a part-time CFO will provide your company with the high-level financial expertise necessary to scale up (things you and your team may not even be aware you need), for a fraction of the cost of a full-time CFO.
Hiring a part-time CFO provides your company with many advantages that really help it to grow and stand out in any marketplace.
How can you get into the FinTech Industry as a new comer?
Gary Chan, CEO of CFO Centre Hong Kong, was a panel speaker at The Hong Kong Society of Financial Analysts Career Conference. Here are some of his tips:
Sara Daw, CEO of The CFO Centre Group, speaking on the future of work for portfolio professionals. Check out the video below:
A lack of cash can not only stall your company’s growth but also place its very existence under threat.
It doesn’t matter how profitable the business may be; cash flow problems can place it under severe pressure, according to the CFO Centre’s Chairman Colin Mills in his book ‘Scaling Up How to Take Your Business to the Next Level Without Losing Control and Running Out of Cash’.
“You might think you’re immune from danger because your business is experiencing a high level of growth,
Babies, as any hollow-eyed new parent will tell you, often sleep for just a few hours at a time which is why ‘sleeping like a baby’ is a practice best avoided if you have a growing business to run and need to be on top of your game during working hours.
Instead, sleep experts recommend you look for ways to get between seven and nine unbroken hours of night-time sleep.
That’s because sleep is believed to be crucial to your physical and mental wellbeing.
If you consider what sets companies like eBay, Alibaba, Netflix, Google, Starbucks, Apple, Cisco and Dell apart from other companies, their ability to continuously innovate and create high growth will probably come high on your list.
So should the fact they’ve all successfully transitioned from start up to scale up status without losing their ability to be dynamic and entrepreneurial.
Then there’s the fact they’ve helped create thousands of full-time and part-time jobs throughout the world.
The idea of hiring even a part-time CFO may seem to some SMEs a bit over the top—like paying Quentin Tarantino to make a 90-second home page video or booking Wembley Stadium for the company’s five-a-side friendly football match.
But for companies whose ambition is to get into and survive the coveted scale-up phase, hiring a part-time CFO makes perfect sense. They know that they’re getting a finance veteran, someone with big business experience,
You might think a Chief Finance Officer’s role is confined to traditional finance activities, but todays CFO can do so much more than count beans.
In the past, a CFO’s responsibilities might have been confined to high-level accounting such as providing timely financial statements and monthly management reports, managing investments and expenses, monitoring cash flow, and managing risk. But as the business landscape has become more complex over the past decade, the role of a CFO has changed.
Artificial Intelligence (AI) is already transforming the way in which financial service companies are doing business.
More and more of them are using AI to process information on their customers, cut costs, save time, monitor behaviour patterns, assess credit quality, automate client interactions, analyse markets, assess data quality and detect fraud.
A pwc Digital IQ 2017 survey found that 72% of business decision makers believe AI will be the business advantage of the future.
You shouldn’t be surprised to discover that Meryl Streep, Robert De Niro, Hugh Jackman, Gary Oldman among many other Oscar-winning actors and actresses bear a grudge against Chief Financial Officers.
It’s easy to understand why. For although the likes of Streep and Oldman have achieved fame, fortune and critical acclaim, they can usually only inhabit one role at a time. They take it on for a few months and then move on to the next.