Now, let’s be clear: the important duties of a bookkeeper, accounting manager, and controller are not necessarily interchangeable with the duties of a CFO (i.e., simply giving an inflated title to your controller or bookkeeper does not mean you are addressing the critical functions of a CFO), as Janine Popick, CEO and co-founder of VerticalResponse can attest. The latter is where big picture strategic insights and analysis, competitive advantages, and proper policies are best formulated. It is where a finance guru seems to "think different", to reference Steve Jobs' statement.
Likewise, a quality CFO or Investment Banking Kiosk should be able to understand business models and value drivers, distill and communicate these concepts, and devise and oversee implementation of improvements (including financial/accounting policy and scalable systems). One objective measurement to assess the latent talent of a potential CFO (or CEO for that matter) is to determine whether that individual is a good investor (this prowess is a direct relation to one’s ability to refine business models, assess competitors, and implement winning strategies/tactics), which is one of the rarest talents in the marketplace (less than 1% of professional investors can perform better than a common index over a 10 year period). After all, many can talk the talk, few can walk the walk, as they say.
Nevertheless, how do some savvy Silicon Valley emerging growth companies leverage this talent affordably? Answer: Investment Banking Kiosks and Remote Contract CFOs.
Accordingly, here are the Top 4 Questions for owners/operators, boards of directors, and CEOs to ask to decide whether their organization can create value by using a Remote Contract CFO or Investment Banking Kiosk (Coventry League provides both, incidentally):
- Do you lack detailed financial data that’s critical to making sound business decisions?
- Is someone closely watching your costs?
- Are bankers, suppliers, shareholders, merger & acquisition partners, and even customers frustrated by the absence of CFO talent?
- Is your company growing faster than its financial system can manage?
All this said, Coventry League would gladly provide counsel regarding the use of contract CFOs, investment banks, investment banking kiosks, and other business related initiatives. Of course, we can provide referrals or guidance to other firms and talent–since we may not necessarily be the best fit for each and every potential client.
So, please use the contact form or our direct email addresses (email@example.com) to request more information, receive a quote, and retain our services.
And, as always, Compete Like a Champion.