CFO Consulting Services Details 5 Ways Small Business Can Prepare for A Successful Future

Following an article published by Fox Business, CFO Consulting Services, a Long Island CPA provider, discusses five things all small business owners should do now to prepare for a successful future.

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Joining social media, especially Google Plus, can be a great opportunity for businesses to expand their outreach and improve customer retention...

Bohemia, NY (PRWEB) February 15, 2014

CFO Consulting Services, a Long Island CPA provider, discusses five tips that can help small businesses become more successful in the future.

According to a February 3rd Fox Business article titled “5 Things Every Small Business Owner Should Do Now,” the small business industry is constantly changing. In order to ensure the survival of a small business, the article says owners must keep abreast of trends, health care updates and new technology. Businesses that do not make periodic updates to their internal structure often fall behind.

In the article, Hunter Hoffmann, the head of U.S. communications at Hiscox, lists five ways businesses can keep up with trends.

  •     Join Google Plus
  •     Drafting business disaster plans
  •     Focusing on training
  •     Learning how to read financial statements
  •     Understanding the Affordable Care Act

Lawrence Teicher, founder of CFO Consulting Services, a Long Island CPA provider, affirms the importance of the five tips. “Joining social media, especially Google Plus, can be a great opportunity for businesses to expand their outreach and improve customer retention,” Teicher says. “With most businesses moving online, social media has become a necessity for small businesses to engage with their customers.”

Teicher also says it’s increasingly important for business owners to take an active role in the finances of the company. “Business owners need to make sure they understand how to read and interpret financial reports” he says. “'The old saying that you can’t fix what you don’t know is broken’ is very true. Many business owners believe things are going well until a crisis develops. Business problems typically do not happen overnight. A proactive business owner can usually detect and correct a problem before it becomes a crisis. Business owners that are uncertain as to how to fix a business problem would be wise to contact a part-time CFO for guidance.”

An experienced part-time CFO can provide expert financial advice for a fraction of the price of a full time hire.

CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.

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