Why does every business, regardless of its size, need a CFO?

Scott Herckis

Companies without a CFO are at a disadvantage! Many start-ups, small, and mid-market firms have sophisticated operations, complex cost structures, and other financial challenges just like large companies, only on a smaller scale. They need the expertise of a senior financial executive, but cannot cost justify hiring a CFO until their revenues reach critical mass. Bookkeepers are simply not able to offer experience, sophistication, problem solving skills, and strategic financial management vision the company needs from time to time.
We will present five reasons that a business owner should hire a CFO, at least on an “as needed” basis. In summary, we use an analogy of a doctor versus a fitness coach. You may visit your doctor for an annual check-up or at other times during the year and you try to keep them informed. But the fitness coach is there weekly and monthly helping you achieve your goals. A CFO is a fitness coach for your business.

1). CFO’s need to always be in the fiber of the company, focused on working inside the business, helping generate wealth, ensuring proper capitalization, fostering the right banking relationships, addressing compliance, and focusing on the company as a whole.

2). If you are trying to borrow, a lender wants to ensure you can service the debt over the long-term. Questions like: “Let me see your budget, Let me see your projections, Let me see your last twelve month’s financial statements, cash flow” and other similar questions will be asked. If these are lacking or are not soundly prepared, the banker will not feel comfortable.

3). Another wake-up call is when a spouse or other advisor points out that the business owner has been overly consumed by administrative and financial tasks, and has lost sight of, or has not fully committed to activities that allowed them to start, build, develop, and grow their business in the first place.

4). In every business there are, say, 3 to 10 measures – ‘metrics’ is the buzzword – that effectively give you insight on how your business is doing. What was the profit margin yesterday? What is it going to be in the future? How does this compare with your expectations and plan? What do your dashboard reports tell you?

5). You will want to have a method of estimating your cash flow beyond the short term, so you can be prepared for periods of cash shortage (or excess, to fund growth). Such forecasts should be understood, analyzed, and updated regularly to avoid surprises.

If any of these issues sound familiar, then you should strongly consider at least a part time CFO.

Scott Herckis – A Passion for Small Business

While Scott Herckis enjoyed his work at large firms such as Arthur Andersen’s Audit and Assurance, Scott Herckis felt that his passion was missing from his work. He wanted to use his knowledge to help individual people, not just big corporations. He wanted to take the knowledge he had gathered in corporate business and use it to help the small business owner to make the best financial decisions possible giving them the same access that the conglomerates had. Not just helping people on a mass corporate level, but helping small business owners using sound and objective data. With that passion at hand, in 2009, Scott Herckis launched SJH Financial as a financial consulting firm specializing in small to medium size businesses that need help with their finances.

Scott Herckis leads SJH Financial

SJH Financial, a financial service business launched in 2009, is led by its owner and founder CEO Scott Herckis. With a desire and passion to help smaller business owners make the best financial decisions possible, Herckis began his company, extending sound and objective monetary data and information to clients. Whether needs are strategic, financial or simply about cash flow, business owners can turn to Scott Herckis and his team as needed and when needed — this CEO promises CFO services “on call” to his clients as well as excellent value, high level financial strategy, and cost effective services. From established businesses to startups, SJH Financial is constantly and consistently available for questions, concerns and assistance.

CEO Scott Herckis, From Conglomerates to Small Business

CEO Scott Herckis began his education by earning his Bachelor’s of Business Administration with a major in accounting degree from University of Texas at Austin. He then earned his CPA, while working at Arthur Andersen’s Audit and Assurance Department. For five years, he worked at Arthur Andersen’s Audit and Assurance Department and during that time, he was able to build his knowledge and skills by working on large corporate accounts including the Sheraton Hotels and Cadbury Schweppes.

After obtaining practical, real place business knowledge at Arthur Andersen’s Audit and Assurance Department, and other companies in the accounting and finance departments, CEO Scott Herckis decided he was ready to start his own company. So much of his time had been spent working for large companies under big conglomerates and watching smaller business owners struggle to make smart financial decisions simply because they either did not have access to the advisorship or the access they had was too complicated to understand and act upon. So, in 2009, CEO Scott Herckis created SJH Financial in order to give him the chance of helping smaller business owners to make smart financial decisions utilizing his developed knowledge of the field.

CEO Scott Herckis currently serves as the Chief Executive Officer of SJH Financial and works with small to medium sized businesses that want to outsource their financial advising to a qualified and eager company. They perform services such as tax preparation for businesses and individuals as well as comprehensive financial and accounting services for individuals and businesses.

SJH Financial Business Can Get You The Financing You Need

It is a fact that, when you are looking for outside financing to start or grow your business, the first round can be enormously intimidating. That is one reason Scott Herckis created SJH Financial in 2009. He has a passion for assisting small business owners with their making financial decisions that benefit them the most. The one thing that sets SJH Financial apart from many other financial advisors is Scott Herckis and his ability to communicate everything to his clients when it comes to every aspect of finance.

SJH Financial works from a basic premise that Scott Herckis holds very closely, that financial advice is worthless if the person receiving it has no idea how to use it. That’s why the company delivers its financial expertise with a lot of sage wisdom. At SJH Financial, Scott Herckis won’t just tell clients how to make money and what to do with it, he will explain why and how it fits into their overall strategy.

Scott Herckis earned a Bachelor of Business Administration in accounting at the University of Texas at Austin and he earned a CPA as he worked with the Audit and Assurance Department at Arthur Andersen for five years, working with a number of large corporate clients, including Sheraton Hotels and Cadbury Schweppes. Since his time at Arthur Andersen, he continued to increase his profile in the accounting and finance, working with companies in the fashion and apparel industry as a controller, then a Vice President of Finance, and finally a CFO.

If you have a business and you’re looking to get your finances under control, or you want better budgeting and forecasting solutions, SJH Financial can help you make the best possible decisions to drive your future growth. Scott Herckis understands the difficulties and challenges businesses face, and they know how to make the best of financial opportunities.

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