Doing Your Finances Without a Finance Person
As a start up, chances are that you don’t have the budget to hire a CFO so you are the CEO/CFO/COO/CSO and so on. The trick to it is to get lots and lots of help through the beauty that is financial software programs and to take everything one step at a time. Depending on how complex your finances are willÂ dictateÂ what kind of software you will need. Keep in mind that just because you start off with one software it does not mean that you are married to it forever. For example, when you are just starting out all you may need is a simple Excel spreadsheet, but as things get more complex you may move up to Quicken. From Quicken you can then move up to Quick Books or Peachtree for a more comprehensive solution and of course from there you can move up to a part time accountant. From the part time accountant you can move up to an accounting firm and then finally to a CFO. So as you can see, there is no real need for a CFO when you are just starting out and there are many steps in between before getting to the CFO in need level so take things slow and keep them profitable by not overspending on hiring too early.