Do you have the financial team you need?

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Who is on your team?

Hi this is Judi Otton with GrowthCast and we’ve been talking about the team of professionals that you have to support you in your business success. Today I want to talk about your finance team.

You probably have an accountant who is a CPA or an enrolled agent doing your taxes. If you don’t, I would highly recommend this. I don’t recommend doing business taxes on your own.

Hopefully, you also have a bookkeeper. I know some business owners sometimes like to do this themselves. They say it keeps them closer to the numbers but there are better ways to do that and as you grow there are better ways to spend your time. If you’re a larger company you may have a full accounting department with an accounts payable person and accounts receivable person and perhaps even a controller.

What many companies are missing is forward-looking and strategic financial help. Someone to help you with budgeting and forecasting. If you have growth or expansion plans, what’s that going to cost you? Where’s the money gonna come from? Do you have someone that’s looking at your pricing models, reviewing your profit margins, and is there for you as a strategic planning resource? Someone to bounce ideas off of someone to bring new ideas to the table.

If you’re missing that or any of these categories, as always feel free to reach out and I’m glad to provide an introduction. This is Judi Otton with GrowthCast and I’ll see you next week with your Fiscal Fitness Tip of the Week.