Where your business has been, where it’s going and the best direction to get there are all important parts of running a business. A bit like buying a second hand car, in a business we want reliability and safety, a clean history and it to be in good condition.
Extras are nice, but we don’t want to spend money on unnecessary ones. A SatNav system might be extremely useful when you want to go somewhere new, but isn’t necessary for your everyday commute, right? It’s something that you have managed without previously, but once you have a good one you would never be without.
The same could essentially be said of an FD. They help business owners plan ahead with the confidence to embark on new journeys. They can help your get where you want it to go, and help you avoid unnecessary delays or take an alternative route where necessary.
As your business grows, you shouldn’t need to be constantly observing the finances. A good FD will help you put controls, processes and plans in place, so that you can concentrate on other facets of the organisation. An FD will also monitor the speed your business is growing – growth is good, but growing too much too fast can hurt your business. Your FD will help keep your businesses on target and reduce the risk of pitfalls.
Going back to our earlier SatNav analogy, larger companies will tend to have a built-in FD, but SME’s can get by perfectly well with a portable (part-time) one, which is where Baird Consulting can help, please get in touch to find out more.