ARE YOU A 2ND GENERATION OWNER?
We understand your challenge. For the past twenty years MicroCFO™ has helped people, just like you, manage and grow the business they inherited, took over or bought from the company’s founder(s).
IT'S JUST NOT THE SAME
The founder had the advantage of starting the company when things were much simpler: a newer perhaps more forgiving industry, fewer regulations, simpler tax codes, and open field for innovation, etc. The founder's knowledge of the business and the industry grew as the company grew. You do not have the luxury of time. You are not and will not operate in that same environment. You cannot. It is 20 or 30 years later.
IT TAKES TIME TO MASTER IT ALL
You may have experience in your company's sales or operations. And that's invaluable, but it does not mean you have the instinctual feel the founder had for the company's finances and operations. The company you now own and run is presumably a bigger company and requires a more sophisticated management approach. That approach may be beyond your time and experience. MicroCFO can provide the financial expertise you need to run your company well.
THE DEBT, OH, THE DEBT
Possibly, when the founder started the company, there was no large debt. If you purchased the company from the founder, you probably now have substantial acquisition debt to pay off while simultaneously trying to run the company. The founder never had to deal with this extra burden. And if you do not run the company correctly, this cash demand can slow your company to a crawl. MicroCFO has seen this exact scenario and can help you manage through it.
IT'S WHAT YOU DON'T KNOW
It is rare for a 2nd Gen owner to come up through the accounting/finance ranks. Without that particular experience it is really hard for you to know what is a good April, what is a bad August, what is a good gross margin for product #3, or why you lose money in delivery month after month. If you do not know these and other numbers, you are flying blind until you find someone that does. MicroCFO knows how financials work and can show you how yours should work for you.