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CFOs provide financial stabilization, orchestrate turnarounds, and maximize profits
Many businesses and nonprofits need professional financial guidance, yet don't have a fulltime chief financial officer (CFO) on staff.
In good times or bad, a CFO is needed to help your organization run smoothly and keep it financially viable, says Steve Lumley, president of LGI, an outsourced CFO firm based in Cincinnati, Dayton and Northern Kentucky. CFOs for hire like LGI can help create business plans to maximize volume and profits, freeing up entrepreneurs to focus on growing their businesses, not crunching numbers.
Lumley has more than 25 years of experience in helping privately-held businesses and nonprofits expand their organizations, generate profits, and obtain sufficient financing. An LGI CFO comes to your place of business and becomes a hands-on member of your management team, says Lumley.
LGI CFOs also help your firm get assistance obtaining financing for future projects, analyze and project business cash flow, and work aggressively to control expenses within your company.
Perhaps most importantly, an outsourced CFO in your organization can save up to 80 percent of the cost of an in-house CFO, Lumley adds.
One clear benefit of the current recession is that experienced financial experts have joined the consultant ranks and are available for hire. Another is that 21st century technology allows the CFO skillset to be available as an outsourced service.
"Living in a world with access to email, telephone and tele-conferencing means small and mid-sized businesses can now afford financial experts that only larger corporations could once afford," says Lumley. "LGI offers CFOs and controllers who have a great deal of experience, and that experience is available on an outsourced basis."
LGI offers services that range across the financial spectrum, including assistance with bank loans and other financing, turnarounds, profit maximization, and creating a plan and vision which will maximize your company's value.
"One of the key advantages to using an outsourced CFO is that in-house accounting personnel can handle routine, administrative financial work, and the CFO handles long-term, major financial issues," said Lumley.
What exactly does a CFO do?
CFOs are big-picture planners: they provide long-term, strategic financial planning; build and maintain good relationships with lenders; improve and streamline cash flow and expenses; and provide efficient fiscal management.
"We are the steady hand on the financial tiller of your organization," says Lumley. "One of our most important functions is that we free up CEOs and visionaries to do what they do best-- lead the organization without worrying about financials. I love my job the most when my clients sleep well at night."
LGI was founded in 1990 and celebrates its 20th year in business in 2010. It not only helps businesses maximize profitability today, but guides them into the future as well.
"If your small- to mid-sized business is looking to compete with larger, well established companies, a 'CFO for Hire' is not only a bargain, but a must," says Lumley.
To contact LGI, call Steve Lumley directly at (513)576-9880 or email him at firstname.lastname@example.org