Frequently Asked Questions
What is a CFO?
CFO is an abbreviation for Chief Financial Officer. For small- and medium-sized businesses, a CFO may play many roles depending of the specific needs of a company. These roles can include management accounting, preparation of management information reports, tax planning and preparation, banking relations, due diligence, financial oversight, and strategic planning, to name but a few.
Is there a right time to bring in a CFO to my business?
There are many "right" times. An entrepreneur who is just beginning the process of developing a business plan might consult with a CFO to assist with the development of a business plan, as well as help in obtaining the needed capital from various sources. Small- and medium-sized businesses might bring in a CFO on an ongoing basis, or for specific projects. Since Financial Mapping, LLC provides a free initial consultation, there’s no wrong time or downside to initiating contact to see if we can help you improve your business performance.
How can a Cash Management Map help my business?
A cash management map can be one of the most important visual management tools you will use in your business. By visually being able to track on a monthly basis your sources of cash inflows and outflows, you can assess and guide your business’ cash performance at any given time, in addition to the balance on your line of credit, accounts receivable balance, monthly sales order totals, and inventory levels.
How can financial coaching help me reduce my personal debt?
Just as acquiring a large amount of debt doesn’t happen overnight, neither does debt reduction. It involves asking some difficult questions and making choices, some of them hard. And like so many other things, it is far easier to accomplish your goal of reducing your debt and starting down the path to prosperity and wealth if there is someone working with you who knows the hurdles you face and can support you as you overcome them.
The secret to financial success is simple. Begin with the end in mind.
Call Financial Mapping, LLC today at (866) 640-3471 for a free, no-obligation consultation.