Businesses of all sizes continue to live through one of the most turbulent times in recent memory. Those who can quickly make good decisions based on accurate information and sound projections are more likely to come out on top. MLA clients know fractional CFOs overcome uncertainty.
Are you looking to overcome uncertainty? MLA provides finance, strategy, and solutions services to help you plan and respond. Contact us to learn more.
The last couple of years has seen unprecedented disruption in our work and personal lives. This has created many challenges and opportunities in providing goods and services that we all but took for granted. All of this has proven again that SMBs and startups are crucial to our economy.
It sounds like an ideal situation for growth and innovation, and in many cases, it has been. But other SMBs and startups have struggled and failed. So, what has made the difference between companies that succeeded and those that suffered?
The economic impact of the global pandemic will be analyzed for years to come. But for those living through it, some trends are already emerging. “We see a lot of small business owners paralyzed by uncertainty and fear,” says Seth Morgan, Founder, and CEO of MLA Companies.
“Most owners rely on a gut feel for the condition of their business,” Morgan continues. “That feeling gives them the confidence to make decisions. But when the circumstances change in unexpected ways, they lose that feel, and anxiety sets in. Then they become paralyzed by uncertainty.”
The answer is to have more clarity about all aspects of your business, beginning with finances. “Knowing how much money you have in the bank does not tell you how that money got there, or where it is going,” Morgan points out. “We see a lot of companies missing opportunities because they are stuck without the knowledge to solve their growing uncertainty.”
A good CFO can take the financial information created by a finance team, verify its accuracy, and then make projections about what it means for your business in the future. It’s that ability to look ahead that sets a CFO apart from other finance roles. They are the ones responsible for creating an effective financial strategy.