Thinking You’re Saving Money by Overworking Your Bookkeeper? Think Again!
As a real estate developer, you’re constantly juggling priorities—managing your project, keeping teams on track, and staying within budget. So, when it comes to financial management, it’s tempting to hand over extra tasks to your bookkeeper, thinking you’re being efficient. But here’s the truth: expecting your bookkeeper to handle high-level financial strategy is not only unfair to them—it’s also risky for your project.
Bookkeepers are essential, but their role is focused on day-to-day financial transactions, not strategic oversight. When you push them to do more, you’re not just asking them to stretch their limits—you’re also potentially exposing your project to costly financial mistakes.
Value: The Difference Between a Bookkeeper and a CFO
Bookkeepers are crucial for maintaining accurate records, but they’re not trained to think strategically about the financial future of your project. A CFO, on the other hand, is responsible for looking at the bigger picture—forecasting cash flow, managing budgets, and providing financial insights that can make or break your project’s success.
Overworking your bookkeeper might seem like a cost-saving measure in the short term, but in the long run, it can lead to overlooked risks, missed opportunities, and poor financial planning. A CFO’s strategic oversight ensures that you’re not just keeping the books balanced but that you’re also making decisions that protect and grow your project’s profitability.
CTA: Don’t Overburden Your Bookkeeper—Bring in a CFO
If you’ve been asking your bookkeeper to handle more than their role entails, it’s time to reconsider your approach. Here’s how you can take action:
Your project deserves the right financial leadership. If you’re ready to give your bookkeeper the support they need and bring in a CFO to guide your project’s financial success, let’s chat. Together, we can ensure that every aspect of your project’s finances is in capable hands.
Schedule here with me - https://mmcfosolutions.com/discovery-call
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1 周What are some common mistakes you see developers make with their bookkeepers? How do you help fix them?
HR Professional | Empowering Job Seekers & Agencies for Ideal Matches
2 周Excellent work Margo Margo Masri Financial planning and accounting is important
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2 周Expecting them to handle high-level financial strategy can be a lot to ask. It's important to have the right support in place to protect our investments and ensure expert financial guidance.
Commercial RE Debt Financing Expert. One stop shop for all your financing needs. Specializing in credit union loans, bridge loans, and long-term options. Expertise in SBA and SBC programs.
2 周Margo Masri Finding the appropriate candidate for the right task is important to get a great ourcome.
High-Performance Executive Coach. C-Suite Leadership Transformation. Founder of High Performance Coaching Artificial Intelligence Leadership. Speaker. Best-Selling Author.
2 周This is so good to know thanks