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Following are some typical situations where the services of a Part Time, or Interim, CFO / COO like Louis would be beneficial and would most likely result in a lower overall cost than doing without.
- Many mid market, or mid size, Companies have a need for more than just a controller. That need is usually ongoing not temporary, but it does not warrant a full time CFO. Those companies may use a part time CFO/COO for only the level of service and amount of time needed during the month.
- In connection with a business combination a part time CFO/COO could assist the existing executive capacity to help execute an action plan faster and more completely, thus saving time and money.
- Companies with a temporary void at the top (CEO, CFO or COO) may need a CFO/COO to fill mission critical needs on an interim or part time basis.
- Companies in a start up mode may use a part time CFO/COO while they are recruiting, or until they can justify, a permanent position.
- Companies in a high growth mode may temporarily out pace their existing executive capacity and may need to support that capacity with a part time CFO/COO to achieve goals faster and at a lower cost than doing without.
- Companies often have high priority projects that require uninterrupted executive time to complete effectively and timely. The existing executives are usually fully capable but often do not have the required exclusive time available, and thus a part time CFO/COO could be cost effective to help get the high priority project done right away versus later, or worse too late.
- Companies in a growth mode may find themselves doing more volume but not making more profits, and existing executive capacity may be overwhelmed with the growth demands. A part time CFO/COO could assist by dedicating exclusive time and energy to finding and solving the problems, so that more volume could equal higher profits sooner.
- Profitable Companies today can easily become the struggling companies of tomorrow. CEO’s with vision might bring in a part time CFO/COO to help initiate and implement strategic planning through out the business to make sure the Company stays profitable, or becomes more profitable.
- Companies that are adding new lines of business, starting new operating divisions or physical locations often find executive management overwhelmed with this temporary peak need on top of normal time demands. This would be an opportunity for a part time CFO/COO to relieve the overwhelming situation.
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