Recently I have been talking to owners of fast growing small businesses to understand a number of things:
One common observation was that they had not come across an affordable & simple tool. Most were expensive, complicated or just did not fit their needs.
They also opined that they wouldn’t mind paying for a financial analysis tool that could provide them insights in an easy to understand manner.
I want to hear from more people. What do you think? How would you answer the 8 questions above? Please leave your response to one or more of these questions as a comment to this post.
I might also follow this up with a larger survey. I am sure the insights will benefit us all.
- At what point of their growth should they hire a CFO
- If they are small enough not to have a CFO, do they hire external help (a virtual CFO) for financial insights & decision making
- How deep do small business owners get into the numbers of their business
- In the absence of a CFO, can a software tool to some extent bridge the gap, and provide actionable insights and aid decision making?
- What are the top 3 financial metrics/KPIs that a small business owner should track?
- Are there good and affordable financial intelligence tools available to serve this segment?
- If such tools are available, do business owners think it is important for them to invest in them?
- How much would they pay for such software?
One common observation was that they had not come across an affordable & simple tool. Most were expensive, complicated or just did not fit their needs.
They also opined that they wouldn’t mind paying for a financial analysis tool that could provide them insights in an easy to understand manner.
I want to hear from more people. What do you think? How would you answer the 8 questions above? Please leave your response to one or more of these questions as a comment to this post.
I might also follow this up with a larger survey. I am sure the insights will benefit us all.
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