Choosing Your Team
Who is in your corner?
Who has your back no matter what, either with a word of encouragement or is ready to roll of their sleeves and go to work right alongside of you?
Teams come in many forms and learning to choose them well is a skill all leaders step into overtime.
In our world, we are the support team in the area of financial management and wealth development to our clients. We see ourselves as partners walking with our clients as they achieve their goals and dreams with their business and in their personal life.
We tailor-make our services to meet our clients with the support they need for where they are and then grow with them.
So how do you know what kind of support you need when?
In the area of financial support, there are 4 main players:
- Bookkeepers
- Accountants
- CFO
- CPA
At any given point in time, you will need one or two of them.
For example, you will always want to use a CPA to file your tax return to ensure you are benefiting from the entire tax code as it is written. I recommend you begin using an outside accounting service before hiring an internal bookkeeper so you are able to take advantage of their knowledge to establish healthy systems and reporting and to help you as the business owner connect with your numbers before having a bookkeeper take over your day-to-day.
For customers who have a steady operation of over $200k in annual sales it is never the highest and best use of your time to do your own bookkeeping and for sure not wise to file your own tax returns. If you are doing it yourself I will guarantee you that you are leaving money on the table.
As you cross the $500K to $1M mark it is time to have the strategy and outside eyes of a Virtual CFO on your team. You will have an experienced team handling your accounts payable and accounts receivable, you will benefit from more strategic cash flow management and Dynamic Planning for the growth of your company.
In our firm, you will also benefit from strategic wealth development strategies for your future.
Think you might be ready to choose a new team in the area of financial management?
Let’s talk! Schedule a complimentary consultation with us today by contacting us at wealth@thecfoagency.com.
In Abundance,
