What exactly does a CFO do? The role of a Chief Financial Officer explained скачать в хорошем качестве

What exactly does a CFO do? The role of a Chief Financial Officer explained

Finance Learning Lab: https://financelearninglab.com/ What exactly does a CFO do? The role of a Chief Financial Officer explained Have you ever wondered what is a CFO (chief financial officer) and what the heck do they actually do why are companies hiring these people in this video I'm going to explain to you what a CFO's ultimate job and ultimate mandate is and how it can help you as a small business owner as a startup you know as an entrepreneur running your business now despite what any job description out under the sun says about what the role of a CFO is there's fundamentally one mandate that a CFO has and that is to help the business owner and partner with the business owner in improving companies profitability and there's really two levers that a CFO is going to go through to be able to accomplish that lever number one is going to be to help the CFO look at ways to grow top line revenue that's your total sales from customers it's going to be looking at some strategies for you to be able to increase your number of customers increase the average cart value or the average sale value of your customers increase the component of recurring revenue with your customers it's going to be a whole series of different revenue streams different strategies to increase your top line revenue and then the second part of improving profitability is managing the expenses so your expenses are something that ultimately you want to minimize or decrease but you want to be really careful to do that over the appropriate timeline so if you went to such an extreme as to say you know what we are going to reduce our expenses by not spending anything else we're going to cut off our internet access we are going to close down our shop you know you can do that and in the short term of course that will help you improve your profitability because you'll have no more money going out the door but you also won't be in business any longer so you want to manage those expenses typically with the goal of decreasing them but not necessarily you want to only decrease them to the most optimal point because you're always trying to play with these two levers of increasing your revenue managing the expenses with a true goal of how do we keep more profit in and for the business that really is the job of any CFO is to put in place the processes the systems the questions the people everything possible to help the business owner find ways to improve and increase their profit so now you know that is what a CFO does. Learn more at https://financelearninglab.com/ Subscribe to Finance Learning Lab so you never miss a lesson. #finance #accounting #businessowner #entrepreneur #startup #money #numbers