Your First CFO: The Accounting Cure for Small Business Owners

by Pam Prior

“Whether you’re looking to add a bookkeeper, part-time CFO, or full-time CFO, Your First CFO is an eye-opening must-read.” —Kevin Kruse, New York Times–bestselling author of Unlimited ClientsAre you paying good money for an accountant and bookkeeper, but still lacking enough confidence in your company’s financials to answer critical money questions?Do you sit up at night processing and reprocessing unresolved questions about how to keep your business on a solid financial footing or nurture it to the next level?Do you feel like you’re flying blind with your finances and have no sense of the terrain ahead?Your First CFO is a step-by-step blueprint for using the tools and people you’ve already paid for to shine a spotlight on your business finances so they make sense to you and are reliable, timely, and relevant. With this guide, you can transform your current stress and uncertainty about bookkeepers, accounting, and finance into a foundation of steady confidence about the future of your business.

112 pages, Kindle Edition

Published January 13, 2018

Reviews

[Mohit · Rating 2 out of 5]

honestly, this book was basically half a chapter on financial accounting in business 101 at high school.
Though i wont judge her on this, as it panders to an audience of first time entrepreneurs, people absolutely new to business, with little or no formal education in the subject.
It's basic, harps on points which are important to manage cash flows in an organisation, and for better reporting. (clear trendlines, Key performance indicator metrics, how to use basic information about debtor/creditor payment cycles etc..)

I've given this to my accountant to get a better idea of basic reports of what I want. It took me 2 hours to read it, its ok.

[Matt McLain · Rating 4 out of 5]

The brevity, the reminder to track forecasted numbers alongside the actual, and the section covering when a CFO hire is needed made this a positive, quick read. This wasn’t a perfect fit for me, as it was very basic, but it still helped me as I continue on my path to consume every bit of finance content I can and ultimately master business finance, management, and accounting.

[Veronica · Rating 4 out of 5]

A small book but with many basic information about handling the financials of a small business.
It's a good read for anyone who wants to get a grasp of what is needed to be done to keep the business financials under control.

[Dattathri Malyavantham · Rating 5 out of 5]

A must read for growing small businesses

If you are growing, you will need to plan your business accounting and finances system leader. Pam does a great job In simplifying the role of first CFO.

[Buzz Park · Rating 5 out of 5]

Done in a story fashion, similar in style to Richest Man in Babylon. Very helpful and easy to understand for this non-financial guy!

[Dan Gingiss · Rating 5 out of 5]

Financial statements. KPIs. Forecasting. These are not the first things that small business owners hope to focus on, but they are clearly critical to success. I've witnessed several friends and family members try to start up businesses without understanding the financial underpinnings; they may have a great idea for a product or service and enthusiastically hire great people, but the financial part is cast aside as a "necessary evil" or left 100% to an outside resource. Pam Prior does a great job of deconstructing the mysteries of running a business from a financial point of view. I love that she started out as a mail room clerk and eventually became a Chief Operating Officer; that alone made me want to learn from her! You'll need to be ready to answer a lot of tough questions about your business, but they are the *right* questions and Pam explains why. She'll teach you things like why focusing on the Cash Flow Statement is as critical (or more) than focusing on the Profit & Loss Statement, and how to implement change with each new financial learning, and also how to hire the right financial roles, including a CFO. I definitely recommend this book for small business owners trying to get a handle on that part of the business that you can't afford to put in a corner any longer!

[Joseph Whitley · Rating 5 out of 5]

A great read. Easy to follow providing a practical approach to business accounting. Highly recommend to new start ups and established businesses that don’t have the tools required to assess the financial state of a business.

[Christopher · Rating 4 out of 5]

KPI Chapter has Errors

This book overall is excellent -- especially for the money. Well done.
The KPI chapter is supposed to have images with supporting formulas for the four KPIs. The last formula/graphic is NOT given -- an earlier KPI is repeated by mistake. That is my only real complaint.