The role of part-time CFO is more common than ever, and it appears the CFO services industry is poised for a lot more growth. Why? Most start-up, emerging, and medium-sized companies have a need that is uniquely filled by seasoned finance executives who work for multiple companies concurrently. The services are affordable and the value added is both tangible and significant. With this in mind, I want to mention the three main mistakes organizations and companies make when they consider hiring a part time CFO.
WAITING TOO LONG
The right time to hire a CFO consultant is a function of three variables: complexity, steepness of growth/shrinkage curve, and size. When it comes to complexity, every business reaches a point where no one person, even the founder or CEO, can keep all of the details of the business in their head. This requires the development of systems and infrastructure to empower the leaders and mangers of the company to make the right decisions. A qualified CFO has dealt with much more complexity in their career, and building these reporting and tracking systems and helping management make the right decisions should come as naturally to them as riding a bike.
LACK OF EXECUTIVE VOICE AND INFLUENCE
Let’s be clear about who should fill the Part-time CFO Career. This person should have formal education (with graduate education and/or professional certifications preferred), more than a decade of hands-on senior-level executive experience, and have access to tools, resources, and networks that the existing management team does not have. The decision to bring a qualified person on board should be coupled with a commitment to empower that individual to add as much value to the company as possible. They should be included in all major business decisions and they should be sharing thoughts and advice regularly on how to improve the company as whole.
SHORT-TERM RELATIONSHIP ONLY
When a new employee begins their job, research says that their most unproductive time will be during their first three months. Their value contribution increases with each day of on-the-job training and experience. Hiring a part-time CFO is no different. Once they learn the business and build the relationships needed to effect change they become increasingly valuable to the company. Hiring a part-time CFO on a temporary basis will have “flash-in-the-pan” results – it will look impressive and even make some loud noise, but it will most likely not have a long-term impact on the business. In almost all instances a permanent part-time CFO will create the most sustainable value for the business.
CONCLUSION
Can accounting and finance really add strategic value to the business, or do these functions play solely a role of compliance? With a permanent part-time CFO, many business owners are experiencing a decrease in anxiety and an increase in success.
Enjoy the special Animal Houses exhibition set against the backdrop of majestic trees turning into their fall colors! Visit the Skunk Den, Coyote Den, Raccoon Den, Pollywog Pond, Beaver Lodge, or any of the other eleven whimsical animal dwellingsall built to human scale. Visitor can climb up, over, into and through the houses and learn how residents depend on trees to survive! All ages. Sara Lee Foundation is the Healthy Lifestyles Supporting Sponsor of Animal Houses.
Now to November 15: 7 a.m. to sunset
I have a son that was suspended from school for no reason ,not even detention was suggested. My son had just got to school on time and as he was walking to class his contact fell out, So he went to the bathroom to put it back in his eye so that he can see because he needs them badly cause he cant see nothing without them. So as he was walking in the halls back to class when the Principal stop him, She just asked him why he was in the halls and he gave a reasonable and honest answer and she just took his id away and send him to the disciplinary office because he didn't have a pass. My son just get in school and went straight to the bathroom to put on his contacts , how is he suposse to have a pass when he hasn't gone to class yet. So she send him to the disciplinary office were the dean had him wait in the office for over 4 hours and made him miss the act practice test then suspended him for 2 days and a parent conference. Now i don't know in what kind school ,that kind of thing would be expect able . They didn't bother to ask him what happen or they didn't talk to him and try to find out what is wrong or help him . All they did was make him miss a very important test and took away 2 school days for no reasonable excuse, I wanna to know if this kind of thing is just how "CPS" handles there problems but i refuse to stand by and watch my child be robb from his education by anyone. I am a mother that refuses to let her son falls threw the cracks,We as parents need to fight for our children rights.
Chicago's Own CAN-TV Host Dr. Kofi Maalik, Ph.D has launched Speak On It Radio on Blogtalkradio internet site. This very exciting and educational show air every Monday & Friday at 11:00 AM (CST) at http://blogtalkradio.com/Dr-Kofi-Maalik.
Support his outreach ministry to the Homeless, Elderly, Youth and others in need of good listeners and strong lifters by becoming a "Sustaining Friend" (for less than 4 cents a day, a quarter a week, a dollar a month) by donating $12.00 a year and participate in an AUTHENTIC SPIRITUAL Re-Connection through our Ministry and Services. For ordering products, making Donations Email: lincoln.ashford@yahoo.com via http://paypal.com/ Our Products: Blessed Candles, Oil, Incense, Fetish Hand Fan, Luck, Love Protection Talisman/Amulet, Purification Bath Solution, God Image Nature Fetish (Tree Bark, Root, Rock), Special Prayer Cloth, Pain Relief Solution (Joints, Muscles), Jinx Removing Oils/Incense, Special Prayer & Libation, T-Shirts & other Products. Each of these products can be had for donations to our ministry. "See Product Page". Become a "Sustaining Friend" today and help support the Ministry! Dr. Kofi states that his official web site Dr. Kofi Maalik, Ph.D. http://drkofimaalik.com/ was launched in August 2009. For more information: (773) 430-6361. One may find Dr. Kofi's videos on Youtube, Video google, Video Yahoo, Tangle, The Dr. Kofi Maalik, Ph.D. http://drmaalikspeakonit.webs.com/, My Space, and can be follow on Facebook, and Twitter.
On Friday, September 25, 2009 at CHRIST UNIVERSAL TEMPLE in Chicago, IL, Project ACHIEVE will honor Dr. Donna H. Oliver as the first African-American female president of Mississippi Valley State University! The festivities will begin at 6:00pm with a panel of distinguished guests convening for a discussion on the continued relevancy of Historically Black Colleges and Universities. Confirmed panel members include Dr. Anderson Thompson, Carruthers Center for Inner City Studies; Dr. George Smith, 100 Black Men; Priscilla Stratten, United Negro College Fund (UNCF); Rodney Gore, National Executive Director, The Kappa Leadership Institute of KAPPA ALPHA PSI Fraternity; Dorothy Tillman, acclaimed Author and Community Activist and Dallas Reed, Vice President, Mississippi Valley State University. U.S. Secretary of Education, Arne Duncan and a representative from the Tom Joyner Foundation have also been invited to offer their unique input. Topics for the discussion include the proposed $85million loss in funding to HBCUs proposed in the 2010 Obama Administration budget, as well as the socio-economic deliniation between those HBCUs founded by African-Americans and those which were originally set up to keep African-Americans out of the mainstream of academia. We believe that these issues afford us an extremely teachable moment and are of tantamount importance to our community! After a special presentation to Dr. Oliver, singer & songstylist, Terisa Griffin will sparkle, shine and light up the night as the evening's featured performer!
The event is being held the night before and in conjunction with the CHICAGO FOOTBALL CLASSIC. Where the Alabama State University Hornets will take on the Delta Devils of Mississippi Valley State University at Chicago's Soldiers' Field. Tickets for the event are $40.00 and can be purchased at CUT, by telephone and online at www.cutemple.org. Ask about the Emerald Package which includes VIP Seating at the gala, access to a private reception and a 50yard line seat to the football game! Project ACHIEVE You are personally invited to participate in this most worthwhile and enjoyable event. For additional information and sponsorship opportunities, contact Walter Robinson, Project ACHIEVE at 773568-2282.
I saw an article in a business publication saying that 10,000 retail stores are expected to close in the coming year.
Don Griesmann's report shows stories from around the country that illustrate how the economy is impacting non profit organizations.
This is a Tsunami of epic proportions.
Retail stores are closing because they have not been able to attract enough shoppers to sell enough goods and services to cover their expenses. It means lots of people will be without jobs, and valuable retail services may be gone in many communities.
If you apply that thinking to Cabrini Connections, Tutor/Mentor Connection, and similar small non profits who must attract donors every day to help pay the bills, how many of us do you think will disappear in the coming year?
If we go out of business we put people out of work, but more importantly, we break the connection of hope and opportunity we've created with the inner-city kids that we work with. TRUST is one of the most important assets of any business, or of any tutor/mentor programs. If we can't continue our programs, we break the promise we've made to these kids, to help them through school and into their adult lives.
Of course, not every tutoring and/or mentoring program has such a long-term vision, but we all connect kids and volunteers in various ways. If we cannot attract "paying customers" we'll be joining our retail brothers and sisters in the coming year.
A lot of people involved with non-profits don't enjoy asking for money. But if you don't want this to happen, people need to be reaching out to friends, family, co-workers, frat brothers, and asking for donations for their favorite tutor/mentor program.
So, why not make a donation today to Cabrini Connections, or another tutor/mentor program, today.