Many business owners, particularly small business owners, have an array of responsibilities. From ordering supplies and making coffee, to meeting with investors and monitoring costs, small business owners wear many hats on a daily basis.
One of our client’s biggest challenges is developing cost management strategies. When every night, and every morning starts with a to-do list for the day it’s hard to monitor “cost creep.” Small businesses may have a dedicated bookkeeper entering data, but they don’t typically have the time or background to analyze information and understand when and where your costs are rising. However, business owners often struggle with the battle of hiring a full time Controller and/or CFO to manage both fixed and variable expenses, vs. taking on the responsibility themselves.