Highly successful entrepreneurial companies are discovering, new better alternatives to adding a Chief Financial Officer to their payroll. Ron Parisi's new book Financial Superpowers discusses these and provides a financial roadmap for accelerated growth.
FREMONT, Ohio, Dec. 18, 2023 /PRNewswire-PRWeb/ -- Hiring a full-time employee, particularly at the C-suite level is expensive, with estimates putting the cost per hire at three to four times the salary of each position. Then, after making your hire, you need to provide competitive compensation (especially in a tight labor market like this one) and include innovative perks, and benefits, all of which quickly add up.
For successful entrepreneurial companies, especially, the dangers of straining the budget through hiring is very real, especially for those companies in rapid growth stages. The role of Chief Financial Officer (CFO), is one C-Suite position that should not be filled when a company's revenue is below $30 million, according to one industry expert and the author of the new book Financial Superpowers – How to Take Your Business and Personal Wealth Next Level.
Parisi, a CPA and attorne,y, has looked through the lens both ways. While working in New York City for one of the big four accounting firms, he saw how fast-growing entrepreneurial companies struggled with the CFO role. "Entrepreneurial founders need a lot more financial firepower to help them scale and then exit, than a traditional CFO can provide" says Parisi. "Entrepreneur founders are a unique bunch—they need current financials, sometimes up to the minute, to show them where the big opportunities lie, not rear vision financials that might be a month or a quarter old."
Ron Parisi isn't against the role of a CFO, but says it's a corporate position best reserved for large corporations. "Most traditional CFOs see their role as a "controller," which totally goes against the grain of enabling growth for an entrepreneur owner. For example, they might advise against making new marketing and sales investment because they're most interested in resisting change to keep things on an even keel as they would for a large corporate. This kind of approach doesn't work for entrepreneurial led companies" says Parisi, who left his corporate job to fill the need he saw in the market for entrepreneurial companies., In the process, Parisi created CPA On Fire, a financial management company that provides fast-growing companies with full-stack financial support without the big price tag.
"Most entrepreneurs think they need a CFO to grow. While there are functions of the CFO role that are needed in a fast-growing company, the dollars spent on that big salary don't need to be swallowed up for such a narrow skillset. It's far smarter to invest a portion of that salary and get the business all the financial firepower it actually needs, instead of having to either keep adding to the in-house team, or paying high hourly rates to bridge the gaps," says Ron Parisi. "For fast-growth companies, lean and agile is always better than traditional, slow and inefficient."
Parisi's first book, Financial Superpowers, is published by Lunch Break Books and is now available in paperback and kindle on Amazon. His second book, The Entrepreneur's Tax Playbook is launching early 2024.
About Ron Parisi
Ron Parisi, CPA, JD, is an entrepreneur, accountant, and attorney who embarked on his own entrepreneurial journey after leaving a high-flying corporate career. While working at one of the Big Four accounting firms, Ron saw how underserved smaller entrepreneurial companies were. They were given cookie-cutter financial support, and their founders were blocked from accessing the very top tier of financial advisory services reserved only for the elite (even if they could stomach their eye-watering hourly rates). So Ron configured CPA On Fire— a very different kind of financial advisory firm - built with top-tier advisors who only serve the needs of 7-figure plus entrepreneurial founders and their companies. Today, CPA On Fire has grown to become one of the most revered boutique financial management firms in the country. Visit www.CPAonFire.com for more information.
About the Publisher - Lunch Break Books
Lunch Break Books is a boutique publishing house that specializes in helping exceptional entrepreneurs become published authors, - igniting the world with their vision, passion, and purpose. Visit www.LunchBreakBooks.com for more information.
Media Contact
Marilyn Suku, Bolder&Louder - Extraordinary Advertising, 1 2123816184, [email protected], https://www.BolderLouder.com
Ron Parisi, CPA On Fire, 1 (419) 559-8775, [email protected], https://www.CPAonFire.com
SOURCE Ron Parisi
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