How to Know When to Hire a CFO More than the usual trouble sleeping at night is just one indicator that it's time to bring in an experienced executive to bring order to your firm's finances.
Opinions expressed by Entrepreneur contributors are their own.
A: You could probably invoke all sorts of business-school metrics to answer this one, although a better measure might be your chronic insomnia.
Plenty of entrepreneurs battle anxiety, says Ken Kaufman, founder and CEO of Utah-based CFOwise, which provides part-time CFOs to small and midsize businesses. It's a common symptom among business owners who don't have a solid grasp of their firm's financial picture. "Anxiety turns into fear, which causes lots of bad decisions to be made," Kaufman says. If you're not sleeping well, he believes a CFO might be just what you need to help bring order to your firm's finances--and to help you get some shut-eye.