Marshall Krantz, CFO.com | US
June 19, 2008

CFO Outsourcing is Great

The article was good. I would have added the value of having the ability to provide the complete array of CFO capabilities - from payroll to income taxes. Our company provides the outsourced CFO with those additional capabilities on an "OEM" basis very cost effectively and totally professionally. The CFO then has an annuity revenue platform and complete accounting and financial reporting support which he/she can leverage. It really works!

Posted by HENRY MONTGOMERY | Feb 1, 2011 1:36 AM ET

re:mostly good advice

the comment regarding the retainer is absolutely correct. An up front payment request may sour the relationship. However, any free-lancer should remember to do your homework. Check references regarding your client's ability (and willingness) to pay.
Even at my young age, I have heard of many nightmares from free-lancers from all fields of work who perform a valuable service, and end up getting stiffed by the client.

Posted by JAMES MCMONAGLE | Jul 2, 2008 7:56 AM ET

Mostly good advice

While this article is mostly good advice, the one area where I would strongly disagree is in the retainer area.

The insistance on an upfront payment puts a barrier between you and your client which you need to overcome. If your approach is ethical and above board, and you offer real value to the client, you should have no problems getting payment in a prompt manner

Posted by John Williams | Jun 26, 2008 11:58 AM ET

Interim CFO

I've been doing interim management assignments full time since 2001. Rather than try various industries, I stay focused on what I know best; health plans and health insurance companies. This allows me to leverage my years of experience with the financial, oprational and risk management areas as well.

I've been nearly fully engaged on a number of long term projects for the better part of 7 years. The only downside is that my clients have been scattered throughout the country; putting me on the road over 80% of the week.

If you can handle the uncertainty of not knowing how long a project will last, or where your next one will be, it can be quite rewarding.

rswift -at- medwisepartners -dot- com

Posted by RICHARD SWIFT | Jun 23, 2008 11:33 PM ET

More suggestions for building your practice.

Get involved with your local CPA Society. This is not a service that most CPA firms offer, or want to offer. They can and will recommend you to their clients. For smaller to medium sized clients you may have a permanent part-time job of one day per month or more. These clients will always need your services and skills, but never on a full time basis.

Posted by James Stone | Jun 20, 2008 8:28 AM ET