Once a business gets to a certain level it is often wise to secure the services of a part time finance director.
One of the most obvious things a Finance Director will bring to your business is a solid reporting structure: profit and loss reports, proper management accounts, cash flow projections and market analysis so you know whether you’re costing and charging appropriately.
You can take most of these things as a given, so when you are interviewing you need to go beyond them and find out about the other skills they have. You’ll need someone who has a relentless focus on future cash flow.
You’ll need someone who can put the numbers into plans for growth and deliver a robust and achievable strategy.
If you have an exit strategy, you’ll also need a Finance Director who has the experience to steer you through this process, optimise cash flow and increase the value of your business.