Choosing Your CFO Hire
5 questions to ask when choosing a CFO hire
Determining whether to outsource, hire full-time, or work with freelancers for financial expertise can be a challenging decision. To make the best choice, consider the following questions:
1. Workload
How much financial support do you need? If it’s a small amount of work, outsourcing or hiring on a freelance basis may be sufficient. However, if the workload is substantial and requires ongoing attention, a Fractional CFO or even full-time hire may be a better fit.
3. Investment
What is your budget for financial services? Hiring a full-time CFO can be more expensive than working with a Fractional CFO, so cost may be a determining factor.
2. Timeline
How quickly do you need the expertise onboarded? A fractional CFO can be onboarded faster than a full-time hire, making them a better option for urgent needs.
4. Expertise
What level of financial expertise do you need? A bookkeeper may handle basic financial tasks, but for complex scenarios, a fractional CFO or full-time hire with specialized knowledge may be necessary.
5. Growth Potential
How much growth do you anticipate for your company? If you plan to scale rapidly, a Fractional CFO may be necessary to manage the increasing complexity of financial operations.
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