CFO JOB DESCRIPTION ASK YOURSELF: ALTERNATIVES:
CFO JOB DESCRIPTION Chief financial officers don’t just look at the numbers. They’re involved in risk management—data security, disaster recovery, fraud and operational risk.
Raise capital Create financial models
Restructure debt
Perform variance analysis
Develop business partnerships
Oversee budgets, cash flow and taxes
Drive business growth
26%
$120,242
Portion of small businesses with revenues of $1 million to $20 million that have a CFO
Median CFO salary
YOU NEED A CFO IF YOUR BUSINESS IS…
Experiencing rapid growth
Looking for financing or investors
Planning to go public
Preparing for a merger or acquisition
ASK YOURSELF: Do I need help managing different stages of my company’s growth?
Should I strengthen the company to make it more attractive to potential investors? Have the company’s financial needs and demands surpassed my qualifications and comfort level? Is handling financial management myself distracting from revenue-generating activities?
Do I need assistance from someone with established contacts?
ALTERNATIVES: If you don’t need or can’t afford a CFO, there are other options: • Freelance or outsource to consultants for CFO guidance • For simpler tasks—managing books, payroll and basic tax planning—look to a bookkeeper, accounting manager or controller
Sources: Jeff Haydock, ecoCFO; Tim Hird, Robert Half Management Resources; David Laeha, CFO Hawaii; Chris Post, Post Modern Marketing; WSJ/Vistage Small Business CEO Survey
NFIB.com/CFO
Raise capital Create financial models
Restructure debt
Perform variance analysis
Develop business partnerships
Oversee budgets, cash flow and taxes
Drive business growth
26%
$120,242
Portion of small businesses with revenues of $1 million to $20 million that have a CFO
Median CFO salary
YOU NEED A CFO IF YOUR BUSINESS IS…
Experiencing rapid growth
Looking for financing or investors
Planning to go public
Preparing for a merger or acquisition
ASK YOURSELF: Do I need help managing different stages of my company’s growth?
Should I strengthen the company to make it more attractive to potential investors? Have the company’s financial needs and demands surpassed my qualifications and comfort level? Is handling financial management myself distracting from revenue-generating activities?
Do I need assistance from someone with established contacts?
ALTERNATIVES: If you don’t need or can’t afford a CFO, there are other options: • Freelance or outsource to consultants for CFO guidance • For simpler tasks—managing books, payroll and basic tax planning—look to a bookkeeper, accounting manager or controller
Sources: Jeff Haydock, ecoCFO; Tim Hird, Robert Half Management Resources; David Laeha, CFO Hawaii; Chris Post, Post Modern Marketing; WSJ/Vistage Small Business CEO Survey
NFIB.com/CFO
