Imagine the following scenario: a sole proprietor starts a company. This person is ambitious; he knows the market, how to get deals done, how to make money, and – most importantly – he has the drive to succeed. He handles all of the accounting, finance, and operations for the business, and after many years at the helm, he knows it inside and out. He is successful and has mastered his job.
Although he is extremely knowledgeable and can handle the day-to-day operations of a small company, he simply could not keep up with its growth. Bringing on someone to assist with the finances, keep an eye over some of his properties, and manage bookkeeping needs was the logical solution, but he worried that a full-time employee would restrict his budget and curb the company’s continued growth.
He did not know how to move forward; he was working in his business, not on his business.
The use of Topline’s outsourced CFO services has grown exponentially over the past several years. One reason is because hiring a qualified full-time chief financial officer or controller requires a six-figure investment. An outsourced CFO might cost less. More importantly, by retaining an outsourced CFO your company will not experience the expense of hiring an employee, such as payroll taxes, health insurance, a 401(k) plan, and other benefits. Another disadvantage to hiring an employee is that in his or her absence – whether for illness, vacation, or an emergency – work is left undone. Outsourced CFO services at Topline consist of a team of professionals, so if one team member is away, another will be accessible.
The client referenced above already had a relationship with Topline’s co-founder, Santos Postal, for his tax needs, and wanted to discuss his growth issues. We knew that he needed help if his business were to continue to grow. We also knew that a full-time employee at the level he was targeting would be cost prohibitive and hard to find.
Outsourcing his CFO needs was the perfect solution. We were able to step in and help establish reality-based accounting solutions that allowed the client to operate his business in a strategic manner.
For more information about Topline’s outsourced CFO solutions, please contact David G. Christopher, CPA, at (240) 499-2067 or email him at DChristopher@SantosPostal.com.
David G. Christopher, CPA, Supervisor
David is a Supervisor at Santos, Postal and has been with the firm since 2010. Over the past two years, David has assisted with the development of the firm’s Outsourced CFO Services, which provides executive level accounting and financial services in a highly customizable manner all on an outsourced basis, saving business owners both time and money. David provides a variety of other services, including audit, review, compilation, bookkeeping, tax and consulting. Born and raised in Rockville, David attended Our Lady of Good Counsel High School and is a graduate of the University of Delaware. He is a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants and the Maryland Association of Certified Public Accountants.
David can be contacted at (240) 499-2067 or via email at DChristopher@SantosPostal.com.