Freeing Business Owners to Fly!
Turn Accounting data into information.
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They should be a good accountant and that includes being a good auditor.
They should understand the basics of accounting and have an auditor’s “inquiring mind”. A good auditor will be able to search out any problems and trace them back to the source for correction. Because accounting information touches all aspects of a business, understanding business processes, being able to critically analyze them and find ways to improve upon them is also part of a good Controller/CFO’s role.
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They should understand business and what it means to be a business owner.
If you can find someone who either runs or has run their own business, then you should have someone who will bring more than accounting expertise to your business. Having to “make payroll” is a lesson that can only be learned by doing and brings a whole new perspective to business.
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They should act as more than an accountant/controller, they should provide some CFO (Chief Financial Officer) expertise as well.
They should provide good financial reports but also be able to take your data and present you with information you can use to run your business, two vastly different things. They should be able to advise you in ways to cut expenses and maximize your spending. They should be able to work with your software consultants, CPA, banker and most critically, your employees. They do not need to be a CPA, but must be a CCT (Constant Critical Thinker). They should not be someone who uses a lot of “buzz words” that you can’t understand and if they are really worth the consulting dollar, they will help you implement the solutions.
