Friday, July 4, 2008
Should a CFO offer Business Plan Preparation as a CFO Service?
I believe it is a valuable service to my CFO clients to offer business plan preparation. One of the key attributes for a CFO to have in order to prepare business plans is prior business ownership experience. With prior business ownership experience a CFO will have a better handle on the operational and marketing components of the plan. This experience will give him the ability to ask the right questions to the business owner and staff. The CFO already possesses the skills to prepare the financial portion of the business plan. The main purpose of a business plan is to put a company on the right track. Lots of times business owners say they are headed in a certain direction but as CFO when you start to peel the layers away you find that the company is going in an entirely different direction to what the Business Owner thinks. The business plan will help put the business owner in the direction he wants to go. In addition, business plans are of vital importance when the company is seeking additional financing whether the financing is coming form a bank, an angel or a venture capitalist. Since it is imperative that CFOs offer finding financing as a CFO Service, it only follows through that the CFO should be able to prepare the business plan.