Published by:

Peter Daisyme, Entrepreneur

January 10, 2017

As the saying goes, you have to spend money to make money. But any smart business owner knows when and where to cut down on costs and still make that statement true.

Related: What to Expect from a Part-Time CFO

Certainly, there are certain aspects of your business plan that you can’t and shouldn’t skimp out on if you want to be successful. One of the major must-haves for a business is a financial consultancy service. Otherwise, how will you know where you can and should cut down on those costs?

If the resources are there, hiring a full-time accountant or chief financial officer (CFO) is obviously the best choice. But oftentimes, for a small business or an operation that is strapped on cash, a full-time position is not  an option. Fortunately, there are a few less expensive options that will still give you valuable insights into how your business can save, spend and grow.

A virtual CFO

Just because you need someone to look over your finances for your business doesn’t mean that person has to physically be there. A large portion of business today is done online, so why couldn’t you conduct your financial planning through the internet as well?

Read the full article in Entrepreneur.