CEO and CFO Services
CEO and CFO services are top management services tailored for small and mid-sized private companies. They are also known as part-time CEO and CFO. The reason why they so popular is to hire top talents, that most small companies can’t afford at a fraction of costs.
The differences between two management roles
The CEO role is focused on company strategies, day-to-day management decisions and implementation of company’s plans. CEO is leading the company toward the goals set up by company owners through the board of directors. This role requires abilities of strategic vision, forward-looking thinking and leadership. It doesn’t require formal training. Some famous CEOs didn’t have a formal college degree and previous job experience as CEO.
The CFO role is focused on proper relevant reporting, assessing costs and benefits of company projects, preparing and controlling of budgets, proposing solutions to reduce expenses and increase value of the company, and many other tasks of financial and risks management. This role requires existing knowledge, previous experience and higher education in the related field. Think about CFO as a surgeon, when the problem appears he already must have knowledge about it and the solution.
Smart Insurance Broker: from failure to success
A few years ago I met an ambitious goal-oriented talented insurance broker, who was desperately looking for extra hands for his brokerage. Despite broker’s hard work 6am to 10pm and 5 people working for him, he was really behind of his promises. In addition, his brokerage, after 5-10% growth (much below his ambitions) for 4 years, has started dropping sales in previous year. By performing a thorough business review, we have identified the problems and agreed on part-time CFO services.
The proposed changes have affected accounting, IT, HR, sales, marketing and customer service procedures. Getting government funds has helped to hire new office staff and new producers. As a result, in 12 months the sales are DOUBLED so as the profit. Our services actually didn’t cost anything for the broker at the end of the day. In fact, he’s got a good extra income. In his next step, he was already able to hire a CEO to support day-to-day operations and his nation-wide growth plans.
This true story tells how close many businesses to their success or failure. The only difference may be the business experience. You need somebody who can lend you a hand and guide you through the many marketplace & business pitfalls.
Services are provided by our partner SB CFO Corp.
Contact our business management team at 416-549-5050
