Many businesses don’t need a CFO. Yours may be one of them.
To be clear, pretty much every business needs some form of finance lead, or at least a solid accountant.
But if you are the owner or CEO of a privately held, reasonably successful small to mid-sized business, it’s pretty unlikely you need a CFO. Certainly not a full-time CFO.
Now, depending on some of the challenges your business is facing, you may have the need or desire for some form of interim, part-time or “fractional” CFO. But a full-time permanent CFO? There’s a good chance that just doesn’t make sense.
Why not? Because in this type of business, the primary responsibilities of the true CFO are either not required or they are handled by the business owner or CEO.