Construction/Development Companies Client Stories:
As a company expands and evolves, so does its financial management needs. When an architectural firm expanded to another state and also transitioned from a partnership to a sole owner, the CEO knew he needed to find someone to help him navigate the new financial territory. He had spoken to Focus CFO on the recommendation of a colleague before; at the time, the company's needs were simple enough to cover in-house. The financial scope of the company had expanded since then, and he found that Focus could help with the new, broader horizon of the firm.
Having a Focus CFO proved invaluable during the transition from a partnership to sole ownership. "As a result of [the transition], the bank needed some additional information, and Focus was able to develop a package to present our information the way the bank wanted to see it," he remembers.
Once the bank had the information it needed, Focus and the CEO turned their attention to setting internal systems in place. In a company that demands tremendous amounts of organization just to keep on top of the many levels of the projects it takes on, it was a necessity. "We're particularly geared toward doing real estate developers' work. Our work is on very short deadlines, with high pressure," the CEO explains. The company needed someone who could keep up the financial side, and found that "Focus CFO really fit that niche." He went on to explain that, depending on the circumstances of the company at any given time, he can find the help and services to match that situation with Focus.
He agrees that larger companies may better benefit from a full-time person on staff, but for "a smaller company that needs financial help on a lot of different levels, Focus CFO is a great concept that works for that profile."
Focus proved to fit that profile for this business as it grows and changes. "We have a much better understanding of cash flow and where we stand financially at any given moment, and we have solid projections for future growth. As a sole owner, having Focus gives me a financial mentor to bounce ideas off of, and someone who can ask the tough questions with an objective eye."