Do you know that you can get Outsourced CFO Services for your business? скачать в хорошем качестве

Do you know that you can get Outsourced CFO Services for your business?

Do you know that you can get Outsourced CFO Services for your business? Need help with your startup’s bookkeeping? Kruze Consulting is a leader in providing low-cost, high-quality financials to funded startups. Learn more at https://kruzeconsulting.com/startup-b... As the company gets bigger, it's time to bring in a startup CFO or interim CFO or outsourced CFO services. There's all kinds of different terms that people use to talk about these. And really the job description is, or functions they provide is, you know, firstly, it usually starts with like financial modeling, and budget to actuals. And financial modeling is really you know, a three-year plan at least, looking forward to see where the company's going revenue-wise, where it's going expense-wise how much capital the company is going to need to raise. And are their growth rates sufficient for further VC funding? You know, what milestones do we need to hit before we can raise VC funding? All these things are really important to include in a financial model. I recommend every startup have a financial model. At Kruze we believe this so strong, we actually have like a free financial model on our website. It's pretty slimmed down, because the companies that tend to use it tend to be smaller ones, because they don't need something super customized. But it's there if you need it. There's a bunch of financial models on Google. This thing called Google, just search that. But financial models is the first thing. And then the next thing is budget to actuals. This is... I love budget to actuals. Because you get to overlay all the hard work you're doing on the accounting, and put that into the financial model and see where you're spending too much money, where you're underinvesting. Are you tracking above your revenue targets? Are you below? Is something going wrong? It's like your early warning detection system. And so doing budget to actuals every month, can be very powerful. It also inspires a lot of confidence in your board. If you can tell them where you are budget to actual wise, because they'll typically approve the financial model, in every January or December for the following year. And so having budget actual visibility, is very, very effective. The other thing a outsourced CFO can do, is really do a lot of your board prep, like the presentation prep, certainly the financial prep that goes into the board meeting. They should be taking care of. And you know, board meetings they sneak up on you. They come every six weeks, every two months. And it's a lot of work for the executive team at a startup. And so having someone that you can trust to assemble all the financial data, we do this for a lot of our clients, like our controllers do this. But as the companies get bigger, it becomes a lot more. And so having an outsourced CFO, can be really, really helpful there. The other thing that an outsourced CFO can do, is track other important metrics. Like your customer acquisition costs, and LTV like lifetime value of a customer, or some of the other like Ops stuff, like spend in certain categories, especially like IT/software infrastructure spend, things like that. Those expenses sneak up on people. And sometimes like the CTO is not talking to the CEO, and it helps to have a little bit of intermediary there, to just justify some of that spend. So that's important. Another thing is just managing the controller and accounting team. So, you know, for a lot of companies, Kruze works with obviously we're the controller and staff accounting team. And so sometimes for us, it's nice to have someone who really knows our language, and who's diligent and is very incentivized to actually answer all of our questions. That's kind of, one of our biggest issues is just getting our questions answered. And so having that interface with a CFO, who can talk to the founder when appropriate, but really probably most of the time not bother the founder, or the executive team with our questions is really, really valuable for us. And then there are obvious things, that a CFO should do also are help drive the fundraising process. Like when you go on to fundraising, it's very very helpful, to have the CFO on your side. Sit in the presentations, update presentations follow up on all the diligence. Again, Kruze does that as well, but if you're raising a big amount of money that can be helpful. And then also doing things like venture debt, after you've completed an equity fundraising, can be very helpful because it can extend your runway. And the lenders are looking for a lot of the same stuff, but some different stuff. And so getting them all the diligence materials helps a lot. And then finally when you get into an M&A situation, and there's huge dollars around, it does help to have a CFO. M&A events are always chaotic. They're also very emotional.