Better question...who makes your financial decisions (or at least helps)?
your controller, bookkeeper or general manager?
your cpa?
your banker?
your insurance rep or broker?
or are you a do it yourself type?
most likely some combination of all.
But who of this group has enough financial experience and know how to guide you?
Most businesses with sales of less than $20 million do not have chief financial officers (CFO's). Why? The cost. A qualified CFO usually commands annual compensation in excess of $200K. For a business with a gross profit margin of 25%, that's an extra $1 million in sales just to to cover the costs.
But what's the cost of not having CFO type advice? Usually modest to HUGE!
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