It could be skills, experience, systems or people – but gaps in your finance team will lead to gaps in your profits!
The bigger a business grows the wider the gaps can become and that’s going to lead to:
- lower profitability
- worse cashflow
- poor decision-making and nasty surprises
Sat at the top of your business, the key indicator there may be a problem is you can’t get the information you need to run the business. No one can know everything but there’s no need to fight with one hand tied behind your back having to work in an information black hole.
You need to plug the gaps in your finance team
The gaps might be some or all of the following:
- you simply don’t have enough people
- your people need to have better skills – e.g. spreadsheets, interpreting data, credit control, communicating across departments
- processes and software are out of date, haven’t kept pace with business growth or haven’t been thought about
- people don’t have enough miles on the clock to recognise when problems are looming and know how to mitigate them
You can’t pause your business while you identify where the gaps in your finance team lie and your market won’t stand still as you fill the gaps and get in better shape. The problem must be solved in real time.
And the backdrop is the most contrary labour market most of us have ever seen – skills and labour shortages and the Great Resignation on one hand and rising inflation, looming recession and forecast increases in unemployment on the other.
Where do you start?
We can help you plug the gaps
Firstly, we’ve all worked in or run finance teams in businesses like yours. It’s our USP and it makes a real difference.
We can understand your business and figure out not just the information you need to run it but how to generate that information reliably, consistently and in time to be helpful.
And think of us a composite finance guy who looks a bit like this:
- 15% FD
- 50% bookkeeper
- 15% management information provider
- 5% systems designer
- 10% credit control
- 5% shoulder to lean on
You won’t need all of it but you might need some of it and the point is we can fill in the gaps at all levels in your team for as long as it takes to get things working properly.
Sounds a bit like what your missing?
Give me a call and let’s start to plug the gaps.
Michael
@bluedotmichael
Related links:
