Congratulations on successfully establishing your business and beginning operations! Now that you’re up and running, you may be considering your first accounting hire. But, how do you know what position to fill first? How can you be confident that your course of action is the right one? At Aronson, we are often asked, “Do you hire a Senior Accountant to handle daily operations, a Controller to begin building a team, or a seasoned CFO?” It’s safe to say that deciding on the first hire is not met with a one-size-fits-all answer. Rather, thoughtful analysis of your business’s priorities will help you work through this decision-making process. Here are some suggestions to help get you started.
- CFO: Thinking about when to hire your CFO? If you need a seasoned professional to steer the financial direction of the organization, start with a CFO. A CFO can help you secure funding, interact closely with banks and investors, review financial results, present financial information to external investors, and interact with other external stakeholders. However, most CFOs expect the organization to hire accounting staff to process accounting transactions, assist with reconciliations, and other tasks.
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