There are 3 different options for managing your Start-Up venture’s accounting and financial operations, the Do-It-Yourself approach, outsourcing to a CFO/Accounting Firm, or hiring the employees directly. Each of these approaches has both positives and negatives and each may be the right fit for your Start-Up at different times of the growth cycle. This blog will address the third option: hiring employees approach. Hiring employees directly approach is where the entrepreneur will hire its own staff to handle the accounting, treasury and financial reporting functions. There are many positive and negative aspects to this approach, so let’s point out some of these to help determine if this approach fits your current business needs.
This approach is where you eventually want your start-up venture to be. It shows that you are on the right path to growing your company into what you always wanted it to be. Deciding when the right time to take this approach will be crucial in the overall management of your company. It is important to make sure the process is completely thought out and thoroughly detailed for its implementation. If we at Jess S. Morgan & Company can be of any assistance during your analysis please feel free to contact me.