Companies may consider hiring financial advisor teams
June 04, 2012
When a small business is just starting out, leaders often do not have the money to pursue a large-scale marketing campaign, offer amenities and hire an extensive team. However, once a company is more established, owners can take more liberties and expand.
A number of smaller companies are hiring financial teams to boost the bottom line on their accounting software. When firms have the means of doing so, there are people business leaders can hire qualified people to run such programs and take part of the burden of fiscal responsibility off of the owner. Accountants, bookkeepers, bankers, mentors and financial planners are among the professionals available to help a firm.
Hire trusted professionals
When hiring people who will have access to a company's financial information, it is extremely important that business owners have completely vetted and trust the candidates. Background checks and contacting references are sometimes necessary steps.
It is also beneficial to bring a strong communicator on the team. "If it's easy to talk to them about everyday matters - sports, family, the economy - you'll find it's easier to talk about business," certified public accountant Sabino Arredondo told Entrepreneur Magazine.
Owners must still be involved
While Arredondo said owners may not know the details about what steps need to be taken to ensure financial growth, professionals who will involve the leader might be the best hires. Entrepreneur reported the owner will always be the most valuable person on staff, and is the person who cares about business continuity most.
Company leaders may want to consider having scheduled meetings with professionals to keep themselves apprised of news and the status of the business.
Professionals in the financial sector help the make business plans more effective and efficient. According to Yahoo, experts of this sort can take the responsibility off of the shoulders of an owner, who needs to worry about how much money is allocated to activities, expected annual revenue and other factors.
Entrepreneur suggested when looking for professionals to help their business, business owners should consult with their personal connections, such as friends and family members, to help find potential additions to their financial team. However, once these people are hired, their connections can also be used to further the company.
Because financial professionals often know many other professionals both within and outside their field, the new hires can be of great value to a growing firm, Yahoo reported. The source said networking is a major part of any business, and any type of contact might be helpful.