When it makes sense to add a finance professional

We’re first going to take a different approach to this… You’re smart and capable enough to handle some of the basic financial tasks. But let’s look at the opportunity cost of doing it all on your own. Ask yourself these questions:

• What could you focus on instead that would add more value to the business?

• Are you burning the candle at both ends trying to take on everything?

• Are you sacrificing time with family or personal life?

• Is not fully understanding the ins and outs of your financials limiting your ability to make strategic decisions for the business?

Finance professionals, like other specialists, bring efficiency and save time for founders. They can offer best practices, identify blind spots, streamline processes, and, most importantly, provide clarity and peace of mind.

Other tangible events that may warrant professional finance support include:

• Fundraising

• Building out a team

• Rapid growth

When you start fundraising, investors—whether VCs, banks, or others—are placing a bet on you and your team’s potential. They need to feel comfortable with all aspects of your business, including your current and projected financials. Having a qualified partner help you explain the levers and overall picture that make up your financial story provides you and your investors with confidence.

If you're building a top-notch team to help drive your vision forward, it's about more than just the skills and values they bring. You’ll also need to consider how they will be compensated and how that affects your financial picture. What roles are essential versus nice to have? Will they be full-time employees (W2s) or contractors? Will they receive benefits or equity as part of their compensation? What processes and systems need to be put in place to pay them and manage their benefits?

With rapid growth comes a lot of decisions that need to be made quickly. In the rush, maintaining accurate financials can easily be de-prioritized. With a financial partner, processes can be established so the business doesn’t become a house of cards but instead builds a strong foundation capable of scaling as quickly as sales.

We lift the burden of financial management from owners, allowing them to focus on what they do best. By partnering together, owners have the confidence to make strategic decisions for a thriving business.