It probably won’t happen today or tomorrow, but at some point, you’ll leave your company. Ideally, you’ll walk away wealthy—or at least wealthier than you are right now—ready to dive into retirement, the launch of your next business, the beginning of your career as an investor, or whatever the next stage of your life holds.
It’s clear why a later-stage operation would need a CFO—with growth comes complexity, but a brand new startup can also benefit greatly from some time with a CFO as they set up their business. Right off the bat, this can help them understand how their industry, business model, entity type, financing options, or team of founders might affect their finances at a long-term, holistic level.
Let’s say you’ve decided to sell your business. After determining that your company is fit to be offered for sale, your team is ready, and you’re mentally prepared for the months ahead, you have four primary objectives: