What’s the best way to make your company stand out in a competitive field? One option is to win on price. But, if you go that route, you’ll quickly find your company in a race to the bottom. Your profits will suffer and you may not be able to make ends meet. A better way …
Keep Ahead of Inflation With Help From a vCFO
If there’s one thing that’s marked the past few years, it’s economic uncertainty. Inflation rose sharply in 2022, leading to increased interest rates and an unstable stock market. The word “recession” gets tossed around frequently these days. As your company’s CEO, you want to do whatever you can to help your business weather any economic unknowns …
Worried About a Recession? A vCFO Can Help
Is a recession looming? If you’re like the vast majority of CEOs, you’ve probably answered yes to that question. Even worse, you may expect the coming recession to be worse than the previous one. In times of uncertainty and economic worry, you may not know who to turn to or where to get reliable advice …
CEOs: Can You Get a Business Loan Right Now?
Years of low interest rates and easy credit have come to an end. On the heels of a few bank failures and rising interest rates, nearly half of all lending institutions have stated that they’ve tightened their lending standards at least somewhat. While it may be more challenging to get a business loan at the …
A Bad Hire Doesn’t Have to Bring Your Company Down
One of the most difficult things you’ll do when you run a business is hiring people. When you hire employees, you’re entrusting them to take responsibility for some aspect of your company, which you may feel a strong emotional connection to. While in many cases, new hires work out and increase your company’s productivity and …
Signs It’s Time to Step Down as CEO
A graceful exit is as important as a strong start. While you may have enjoyed your time leading your company, all good things have to end. If you’re trying to decide whether to hand the reins of your business over to someone else, a virtual CFO can provide guidance through the transition. It might make …
What’s the Secret to Great Company Culture? (And How a vCFO Can Help)
When you look at great companies, what do they have in common? Across industries, the most successful companies have a team of happy, dedicated employees working for them. Happy employees are the secret to a great company culture, and ultimately, a company’s success. Here’s how you can work with a virtual CFO to improve your …
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CEOs: How Your vCFO Can Help Conduct a Risk Assessment
Being in business means taking risks regularly. But as a CEO, you may wonder how many risks are appropriate to take and what an acceptable risk level is. You want to see your company grow and thrive, but you don’t want to move forward so quickly that you set yourself up for failure. A virtual …
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CEOs: Your vCFO Will Be By Your Side While Raising Capital
The CEO is the face of the company and often the one responsible for fundraising. But having a virtual CFO behind the scenes can help reduce the stress of raising capital. Your company’s vCFO can help you determine the best type of financing, facilitate connections with banks and investors, and be there for you throughout …
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Who Should Be on the CEO’s Support Team?
As the CEO of your company, you may think you have to face all the daily challenges alone. But, the myth of the self-supported, solo CEO is just that: a myth. The reality is that the CEOs of the best-performing companies usually have a team of people supporting them and helping them tackle concerns as …
The Pillars of a Strong CEO and CFO Relationship
When your company hires a virtual CFO, it isn’t just hiring someone to come in and manage its finances. It’s forming a partnership with a financial expert who can be by your side every step of the way. New Direction Capital’s virtual CFOs work closely with the CEOs of the companies we partner with. We …
How Virtual CFOs Simplify the Complex
As your company grows, it becomes increasingly complex. Your organization takes on layers and structures it didn’t have previously. Your finances become more difficult as you add in more sources of revenue, more bills to pay and more profit. As a CEO, you feel pressure to manage your company’s complexity. The pressure can make you feel …