You may think you have your business’ financials under control, because you’re able to produce detailed financial statements and accurate tax returns. While both of these are important, they only tell a part of the picture that is your business. They report where your company has been, but not where it can be going. Hiring from financial consulting firms, such as the experts we recruit when we target pros seeking VP finance jobs in Chicago or Los Angeles, can give you valuable insights into how you can grow your business in the future.
If you’ve been on the fence about hiring a financial consultant, or haven’t thought about how a financial advisor could propel your company into 2017 and beyond, consider the following 3 ways that financial consulting can fuel business growth, and point you in the direction of long-term success.
3 Ways Financial Consulting Grows Your Business
#1. Test Growth and Break-Even Analysis
Financial consultant services can help you set up a proposed budget and forecast report, so you can see a glimpse of what goals can be achieved in the upcoming 12 months or longer. Financial consultants present simple graphs and charts to let you visually analyze if your assumptions will pan out. And for many, seeing these charts and graphs helps to motivate you to achieve these goals.
#2. Key Performance Indicators for Your Business
Financial consultants will work with you to find the few key performance indicators (KPIs) for your business, and then guide you into building from these indicators. Your KPI might be job cost, direct costs, revenue per billable hour, or another key performance indicator. When you work with a financial consultant, you will begin to get a clearer look at how these indicators perform and change over time, so you can make better business decisions.
#3. Understand Your Cash Flow Projections
Financial consulting can give you the motivation and tools to create insightful financial reports from your current accounting software. These reports offer assistance in understanding cash flow and making projections regarding costs, expansion of product lines, adding employees, etc. This way, you mitigate any surprises.
Qualified Candidates are Searching for VP Finance Jobs in Chicago
There are hundreds, if not thousands, of qualified financial consultants who are answering calls for VP finance jobs in Chicago, and accounting jobs in Los Angeles. If you have a Chicago or Los Angeles business that would like to experience growth in the upcoming year, consider putting a search out for interim, interim-to-hire, or direct-hire finance staffing pros who can show you the way to financial success.
[Photo Credit: jarmoluk]
Hi, my name is Jon and I run Compounding Pennies. I’ve been interested in personal finance since high school and love writing and talking about it. You can learn more about me in the Authors section of this site.