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5 ways the right Chief Financial Officer transforms your business

If you intend to grow your business, it is important to hire the right Chief Financial Officer (CFO) for your organisation. The primary requisite to find the right match is to know your needs. Every company requires a skilled professional, but what does a skilled professional mean to you?

The key to hire the right CFO is to define what a CFO must accomplish and to ensure that he fits in your company’s culture. Companies that experience rapid growth don’t have room for errors. They experience change from internal functions, such as production, marketing and sales, and from external forces like competitors. An organisation can choose a professional who fits its vision. The CEO of the company can define the type of Chief Financial Officer his company needs.

Here are 5 ways the right CFO transforms and grows your company:

Brings passion to the job

The right CFO is someone who believes in what you do, and understands your products, services and customers.

A passionate CFO lends credibility to your organisation. The business and financial face of the company, he serves as a bridge between the company’s CEO and employees, as well as the outside world, including bankers, investors, vendors and customers. He knows your competitors and helps the CEO to look for new ways to represent the products and services.

A good CFO offers trustworthy and passionate support that you need to acquire financing, engage professional service firms and build your brand.

Offers a strategic advantage

The right CFO not just simply executes current business strategy, but he suggests how an organisation can become more efficient and competitive. An officer who only cares about tactical matters and spends his time ensuring that the daily operations are carried out as per the strategy, fails to provide you the support you actually need.

A seasoned and skilled CFO understands business drivers, suggests alternatives, and helps in setting quantifiable goals. He stays well-informed about your competitors, products and customers. He is more focused on planning ahead and facilitating growth.

Thinks cross-functionally

If your Chief Financial Officer evaluates results from a purely financial perspective, he is missing on something. Although financial aspect must be taken into account, he must work well with other departments to accomplish success as a team.

A good CFO is a cross-functional leader. He works with different departments and focuses on finding out solutions for problems, rather than being a “no way” person. He will determine how his decisions affect sales, marketing, and manufacturing. He focuses on right decision making for the company as a whole.

Navigates between strategy and details

A good CFO is careful and savvy when it comes to processes, contracts and efficiency. With excellent cost-benefit judgment, he knows when accounting and business control is important to prevent fraud. He knows when the cost does not justify the benefit. A large number of rapid growing companies realise the importance of a Chief Financial Officer who can be strategic and jump into the details when required, and knows when to navigate between the two. Those who cannot afford to hire a full time CFO opt for virtual CFO services.

Adds credibility through communication

A good CFO is interested to find out why the figures are the way they are. He comes up with innovative ideas for how your organisation will compete and thrive in the future.

Besides, he is a good communicator. He knows how to represent your company, products and services to your customers and others. He explains how your company’s strategy converts into actions.

Finding the right CFO

Once you have decided that you need a new CFO Australia or in any other part of the globe, it’s time to consider your needs and find the right professional. Make sure he has the knowledge, experience and skills to be the right officer for your company and can effectively utilise his experience and expertise to create new strategies that can help your business grow and flourish.

Jun 17 2016

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How can part time CFO services benefit your business?

A Chief Financial Officer (CFO) is an individual on your executive team whose chief responsibility includes increasing cash flow, business profits and improving the bottom line. A part time CFO undertakes same jobs as a CFO, but works for less number of hours for a company. Lot many companies who need a skilled Chief Financial Officer do not have the funding to actually appoint one. Experienced professionals charge large amount of fees that many small-scale businesses cannot pay. In such cases, companies can hire a part time CFO to guide them in the right direction.

A part time Chief Financial Officer is responsible for looking after all the financial and accounting practices of the company. This includes preparing the budgets, preparing precise financial statements on time or even playing the role of a business advisor for the CEO. He has to develop tools and systems to provide the CEO with crucial information related to finance and advise him on company’s operations as well as strategies. A part time CFO inspects budget planning and based on that he suggests strategic plans for effective management of company’s costs. A CFO has to look at the business functions to make authoritative, well-informed decisions.

A few other responsibilities of a part time CFO include managing the cash flow of an organisation and making predictions in terms of where the profits will go and where they are required to go. He is also responsible to build and maintain healthy relations with the banks a company works with. In addition, he also takes charge of mentoring company’s staff to ensure that the procedure set up by the professionals is properly carried out.

Following are a few jobs performed by part time CFO to keep your company’s financials in order:

A large number of companies that cannot afford to pay hefty amount of fees to full-time CFOs are hiring Part time CFOs so as to solve their money woes. This decision can improve a company’s financial standing and lead them to a more profitable path. The cost that an organisation has to pay for a part time Chief Financial Officer will be lower than appointing a full-time CFO, while the services will be the same.

However, it is important to understand that the person you choose as your part time CFO Sydney or anywhere around the globe will be responsible for handling all the financial matters of your company and you need to hire someone who is skilled, experienced as well as accountable. Appoint someone who can guide you on financial matters, and analyse current as well as plan future strategies to let your business grow and flourish.

Jun 1 2016

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How can a CFO help you prepare for mergers and acquisitions

The M&A process deals with marketing the company to its prospective buyers based on its value. This is why it is important to prepare for M&A in advance to achieve positive results.

A large number of SME owners are likely to exit the business anytime in future after they realise that the expected value of their organisation is related to the process of preparing for that instance. The M&A process is all about marketing a company to its potential buyers. This incorporates both financial benefits and those related to that specific sector.

Although some entrepreneurs plan business strategies in advance, some potential buyers can approach a company anytime and if the owners are prepared, it can have an adverse effect on the price of the business.

Start early

Be prepared in advance. Get the due diligence done and make sure that your business is prepared to go through the transaction. If not, your company would have to assemble and prepare a large amount of data in less time. If the elements of the data are mismatched, this will weaken the confidence of buyers and have an impact on the price.

Help of a professional Chief Financial Officer who holds experience in M&A transactions can be beneficial for a business to achieve optimum price. Such professionals act as point of contact for the buyers and answer all of their potential questions, managing everything diligently. Besides, they handle contract negotiations and closure processes.

Price drivers – a forecast

Business forecast is the key element driving its price. The forecast information should include the advantages of synergy: sales synergies facilitating cross-sales so that the new buyers can sell their products to existing customers of the company and vice versa. Product development synergies are also crucial since when two technologies fuse with each other, they can create products with great market potential.

A CFO, who is commercially aware of the process, can identify maximum possible synergies and explain how the buyers can benefit from them. He can also create a credible forecast for individuals in diverse areas of the buyer’s business. A Chief Financial Officer experienced in mergers and acquisitions can also advise the company on what support they actually need prior to entering the M&A process.

Business as usual

It is essential to continue with business as usual at the time of M&A transaction. If the company is not able to meet sales target during that period, it is seen as a risk by the buyers. Given that forecast drives the value of the company, failure to meet the targets will have an adverse effect on valuation.

At Proactive CFOS, we have built a network which includes both offshore and onshore parties to help you find target companies for business mergers Sydney. We assist you with negotiation process and funding the transaction.

May 25 2016

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Planning for capital raising: Develop an effective strategy

As a business owner, it can be quite overwhelming to assess your options for capital raising. You need to rethink your game plan, develop strategies and have a right structure that could help you identify your prospective investors and provide them with what they might be seeking in a potential investment-worthy venture.

Following are a few steps that can help you build an effective strategy to raise capital.

Embrace the power of internet

It is no secret that the power of social media and internet is transforming the world, and also how the deals are found and accessed. However, a large number of businesses have still not experienced the power of internet to develop their capital raising strategy. Many businesses still adopt an old strategy, which includes listing a line about their business.

For businesses to find potential investors, it is important to be active on social media. This medium can be used to find potential venture capital investors and angel investors.

But remember, you need to be proactive and build an effective strategy to find investors and connect with them. This is easy said than done. This is when professional assistance can help. Experts, well versed with capital raising process, can effectively guide you and help you maximise the benefits that you can get from social media and internet when it comes to capital raising.

Don’t forget to start your investor relations program

It is important that you have an Investor Marketing or Investor Relations program from day 1, although you may have 2 or 3 investors.

Staying regularly in touch with your investors and key stakeholders can help you create a good marketing campaign throughout the process. These marketing materials can help you in your endeavour to raise capital.

Start briefing on a monthly basis and the communication material can be effectively used for your PR campaign.

Link your company news through media channels

Broadcast your company announcements as much and as wide as possible. Consistent announcement of your company news and achievements can help you reach much wider audience. There are some companies that develop effective campaigns by subscribing journalists, customers as well as other stakeholders through newsletters.

Go for crowd funding

Crowd funding is not new, but its integration with social media has made it an efficient tool to find investment capital. It can work wonders if you are active in industry specific forums or your localities or your target market.

For example, if you are into the business of developing dental equipments, a right approach can help you raise capital from doctors and dentists through crowd-funding website, given that they understand the niche of the product.
Go global

Businesses seeking capital can now have access to much wider choices in terms of capital investments, owing to the emerging markets.

Globalisation and social media are the two most essential factors to be considered by capital seekers. Considering the fact that your ideas and products may be in relatively higher demand outside your local markets, you cannot afford to ignore to go global.

If you are looking for capital raising Australia, you will find that a large number of venture capital funds are setting up their operations overseas to identify as well as invest in new opportunities.

Global executives

One of the best ways to find investors is contacting executives in your industry. If you are in the mining sector, you can look for strategic investors from the mine operators in the vicinity. Similarly, when it comes to IT industry, executives from well-established software companies usually invest in new start up IT companies.

Find out the public listed companies in your industry and identify who their executives as well as decision makers are.

Capital raising Sydney or in anywhere around the globe is necessary for a business to grow and flourish. A right strategy can help you achieve positive results. So, understand your business needs and set your goals to form a strategy that helps you meet your objectives, ultimately helping your business to expand.

May 19 2016

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Finding the right Chief Financial Officer for your company

The key to success in any hiring process is finding the right fit for your organisation. You need to look for someone who suits your organisation’s needs, interests and culture. Finding the right Chief Financial Officer for your company is no exception and requires a lot of efforts since finding the right professional can be challenging. Companies need to decide what type of role they want their CFO to play and what challenges he will have to address.

Know your organisation

Just like candidates go for an interview being aware of their skills, abilities and interests, companies and their teams need to comprehend what truly defines best fit for them. The senior personnel should determine the qualities that a new Chief Financial Officer should possess to work efficiently with them as well as in the company as a whole. Remember, a good fit does not mean finding a clone of your former CFO or other senior managers, especially when you are looking for an individual whose skills, experience and expertise complement those of your current team members or when you wish to grow your organisation to a new level.

Fit with organisational culture can be a complex issue, especially when hiring someone with formal training in accounting and finance or appointing someone for CFO position. How will you determine that a particular individual is the one you want to work with? Chances are that the other person might have different priorities. But, maybe the reason behind appointing a CFO is to bring someone with different priorities in your firm.

Define the role

Defining the role of a Chief Financial Officer is one of the main requirements to find the right individual. A clear understanding of what you expect your CFO to do for you can help you find out what you are looking for in your Chief Financial Officer.

There are a few common characteristics that should be common for all CFOs. For instance, an ideal candidate is someone who is good in accounting and finance, thinks strategically, can effectively communicate with others, is capable of translating and teaching financial literacy, uses a proactive approach to solve a problem and works to accomplish goals of an organisation.

Other responsibilities of a CFO vary according to the needs of a company. If you are hiring your first CFO, you need to determine why you are creating this position to gain clarity as to what will be the tasks that your chosen professional will have to perform and what skills you look for in your candidate. Usually, companies introduce CFO position to address these following needs:

Building company’s capacity to manage its finances as it grows

Reducing workload of Chief Operating Officers in the area of finance

Bringing a high-level perspective to accounting and financial needs of a company

Educating team members on finance literacy and partner with Chief Operating Officers for decision making

For companies looking to appoint a Chief Financial Officer Australia or anywhere round the globe, it is essential to consider organisation’s needs and plans for growth. Remember, the right CFO can help in desired growth of your company.

Apr 25 2016

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Independent Director: An important asset of your organisation

Bringing a mix of skills, experience and connections to your company, board members can see a value in your idea since they have worked in your industry. They might have worked for a competitor or some prospective partner and can provide you with industry insight, offering market benefits. The network they have or build in future is crucial. They should be capable of connecting you with other advisors, resources and investors so as to support your business.

After an organisation is funded, business owners usually form a team of five Board of Directors. Among these five members, two are generally the “Investor Directors”, the seed investors or the venture capitalists who control the designation of these seats as part of their investment agreement with the firm. The third director is typically the CEO, that is, one of the founders of the company. The remaining two directors are known as “Independent Directors”. Although they are not institutional investors, their contribution can be more than any financial investment.

Independent Directors play same role as that of other Board Members. Their vote matters and they perform several fiduciary and governance responsibilities under State Law, such as equity issuance, approving stock grants, electing company’s corporate officers and executive compensation. However, your relationship with your Independent Directors can be different from that with your Investor Directors or resident directors.

Owing to his role of being a manager of venture capital or other funds, your Investor Director has certain contractual as well as legal duties and obligations to partners investing in those funds. These obligations and duties can at times conflict with what is beneficial for your business, leading to dispute between Investor Directors and Management. In such a scenario, it is necessary to have someone to support you. This is when your Independent Directors can help you. They can handle these complex situations smartly and act as a mediator when you are at odds with your Investor Directors. Likewise, discussions related to executive compensation are usually awkward. After you have worked for your product for little or no money, you want to get paid once your company is funded and your product is showing traction. This is when an Independent Director can make recommendations related to executive compensation. Getting these suggestions from someone professional can be really beneficial for your business.

How to choose an Independent Director?

Generally, choosing an Independent Director is up to your Investor Director. Sometimes, an Independent Director is mutually known or the investors might choose him based on his experience and skills. Make sure to think about the help you need and comprehend what experience and skills he brings to your business.

It is important to have an Independent Director who has been there to guide you, either as a business owner or a board. The experience they hold really matters since they not only help you tackle difficult situations, but also offer credibility while advocating on your behalf. It is essential to determine if they will be able to help you when:

>> You are looking at down-round financing and you wish to negotiate terms with your current investors
>> You manage a reduction in force and seek economical severance package for your team
>> Board members are ready to bring an experienced CEO to an organisation

In addition, following are a few situations where an Independent Director can be helpful:

>> Managing a Board is a complex task and your Independent Directors can effectively handle this job for you.
>> With the growth of your business, your Board will form committees, usually compensation and audit committees. Your Independent Directors are a part of these committees and can have a fair bit of influence.
>> When it comes to approval of interested transactions, your Independent Directors Sydney, or elsewhere round the globe, play chief role.

An Independent Director is someone you will turn to for finding creative ways to address the concerns expressed by other Board members, seek honest suggestions and share hard truths with. So, make sure to choose your Independent Director wisely, find out what he has to offer and you will surely find a professional who is there to help you and your business succeed.

Apr 16 2016

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Guide to efficient business financial planning

Each entrepreneur, regardless of the size and nature of business he is running, faces financial problems at one point or another. Right financial planning and efficient business strategies make it easier to overcome such problems.

Primarily, it is vital to understand that to begin with financial planning and to identify the areas of financial concern, your business need not already be insolvent or in deep financial trouble. Generally, it is merely a signal for you to explore areas that require improvement and build new strategies so as to prevent business failure. If you are waiting for the right time to begin financial planning, now is the time because while you think that your business is the only one experiencing financial challenges, your competitors might also be thinking the same. So, don’t waste time waiting for that right moment. In fact, come up with efficient business plans to safeguard your business from financial problems.

Here are three tips that can help you with effective financial planning.

Remember, money is needed to make money

There is no secret to it that cash is king in the business world. Entrepreneurs of all world are well versed with it. Money is required for marketing and to ensure operations run smoothly. The cash position of business determines its financial strength and liquidity.

It is always beneficial to look for new ways to make money for your business in order to maximize reserves. Build a strategy to streamline payment collection process so that you can settle payments faster to benefit your business as well as your clients.

Don’t forget to balance sales and profits

Businesses running at a small scale usually face the risk of getting good sales, but losing profit share. They generally suffer from low profit. This means that there are chances of over spending or hidden costs in business operations. Always make sure to keep your expenses under control.

Remember, business planning can make a large and positive difference for your business. Formulate a strategy that enables you as well as your staff to monitor cash flow. Make sure that you are able to closely supervise all financial transactions at all time. Keep receipts and invoices as doing so can help you with tax compliance.

If your business requires you to buy raw materials or stuff to manufacture products, make sure to do right purchasing for your business. Buy the right materials or supplies at economical prices from reliable suppliers to add more value to your products as well as services.

Seek professional help

Business owners already have to work hard to manage their business and additional financial management can be nightmare for them. Thus, no matter whether you are a small, mid-sized or large business, seeking outside help for managing business finances is recommended.

You can opt for virtual CFO services. A virtual CFO offers high skill assistance in financial requirements of your business. He takes care of financial planning, maintains and reports on financial activities and manages financial risks related to business. Apart from this, he works as a bookkeeper of the client and takes responsibility to ensure accuracy of account books. Besides, he performs the job of interpreting financial information from the accounting data to the client. Being qualified and experienced, chief financial officer can also suggest possible measures to control expenses and acquire capital at low cost.

However, make sure that the person you appoint as your bookkeeper or advisor understands what it takes for effective business financing and accounting. Most importantly, he should be trustworthy and reliable since he will be the one handling all your business’s financial aspects. Outsourcing a virtual CFO Sydney can greatly help you with financial planning and analysis. In addition, it can help your business accomplish long-term financial goals.

No matter what type of financial problem your business faces, you can overcome these challenges and enhance your business performance as long as you build and implement right strategies. Invest in effective business planning assistance to safeguard your business from financial challenges. Look for seasoned, dependable and qualified professionals to ensure your business’s financial operations are carefully performed and all financial needs are attentively taken care of.

Mar 18 2016

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Role of company secretary: Why you need one for your business?

When we think of a company secretary, we picture a person answering calls and managing appointments. However, responsibilities of a company secretary include lot more than this. Considered an officer of an organisation, he shares several legal duties with company directors. It is his responsibility to file annual returns and other documents, usually on an annual basis. Besides, he is responsible for scheduling board meetings as well as other internal administrative matters.

Considering the heavily administrative nature of the role played by a company secretary, it is needless to say that the professional you choose should be motivated, organised and should be well versed with the internal working of your organization, and its legal duties.

Apart from filling annual returns, a company secretary takes charge of director’s reports. This includes a document containing the state of the company, along with the names of the secretary and director approving the accounts. This document is filed annually and all the financial statements, along with the details of the company’s liabilities and assets are included. Besides, the company secretary is also responsible for filing auditor’s reports, but that would be needed if your business’ annual turnover is more than a specific amount that depends on the location of your business.

The other duties of company secretary include:

Maintaining the company’s registered office

This is necessarily not the address from which the company actually operates. It is company secretary’s responsibility to ensure that you receive all correspondence sent to that address. He needs to make sure that the registered name of the company clearly appears outside the registered office and other places of business. Any change in company’s registered address is informed to ASIC by the company secretary.

Taking care of important legal documents

Legal documents include constitution, share certificate and share transfers, any certificates related to the change of name, the company’s seal and director’s service contracts. All these documents have to be carefully taken care of by the secretary.

Maintaining the company’s statutory needs

It includes minutes of general and board meetings, a register of shareholders, a register of directors, any charges applicable to the company’s assets as well as a register of debenture holders. It is the duty of Company Secretary to look after all statutory needs and ensure everything is in place.

Informing important changes

ASIC needs to be informed when certain changes are made in the company. This includes allotment of new shares, change to the make-up of the board of directors and more. When such changes are made in the company, it is the duty of company secretary to inform the ASIC about the same.

What other ways can a company secretary serve your business?

Be it a full time or part time Company Secretary, he plays an important role in effective administration of business. Particularly, his duties include scheduling board meetings and ensuring that precise minutes of meeting are taken as well as signed. Besides, he is also responsible for arranging Annual General Meetings (AGM). Although such meetings are no longer needed for privately listed companies, they are required if a company has traded shares.

When appointed in smaller companies, the secretary takes on some additional responsibility for things such as PAYE and payroll, GST registration, pensions, taking care of company’s offices and legal matters. Besides, he has to take responsibility for signing off documents, such as those related to accounts and leases, on board’s behalf.

A company secretary is an important part of a company, whether large or small. The duties performed by him can help a business grow. Companies that cannot afford services of a full time secretary can opt for part time company secretary services. Professionals offering such services perform duties of a full time secretary, but charge relatively less for the same.

For any company appointing a secretary, it is important to provide him some training and advice to help him understand the duties involved in the role.

Feb 26 2016

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Understanding the duties of a Company Secretary

Holding a senior position in a public or private sector organization, a Company Secretary is responsible for effective administration of a firm, particularly in terms of ensuring adherence to statutory and regulatory needs and to ensure implementation of decisions taken by the Board of Directors.

It is the duty of a Company secretary to ensure that the company adheres to relevant regulation and legislation, informing the board members about their legal responsibilities. Serving as names representatives on legal documents for a company, they make sure that the organization, as well as the directors, function within the law. Their duty requires them to register and interact with stakeholders to ensure payment of dividends and to maintain records of an organization, such as lists of shareholders and directors, along with annual accounts.

Appointing a company secretary is a law in many countries that the private companies have to comply with and the chosen professional usually becomes a senior board member. According to Companies Law, only a listed firm is required to have a full time secretary while a single member company that is not a public company needs to appoint a secretary.

Functions of a Company Secretary

Duties generally performed by a Company Secretary include:

Secretarial Functions

The wide set of responsibilities undertaken include:

To make sure that the rules and bye-laws of a company are strictly adhered to

To ensure that company’s affairs are managed as per its objects described in the articles of association and provisions of companies law

To prepare the agenda after discussion with the Chairman and on the basis of other documents for all meetings of the Board of Directors

To attend board meetings to ensure all legal needs are met, and to provide necessary information

To arrange annual and extraordinary meetings for an organization, with the consultation of chairman, and attend the same to ensure adherence to legal requirements and to maintain accurate record thereof.

To arrange and hold meetings of the board and to prepare accurate records of proceedings

To deal with the matters related to allotment of shares and issue of share certificates, including maintenance of statutory share register and conducting relevant activities related to share transfer.

To prepare, approve and seal lease agreements, legal forms, along with other official documents on company’s behalf, after they are authorized by Board of Directors or the executive responsible.

To advise on legal matters, in conjunction with company solicitors, to the chief executive as and when required.

To defend the rights of an organization in Courts of Law.

In addition to secretarial functions, a Company Secretary performs legal duties, including:

Filling of returns and documents as needed by the Companies Law

To ensure legal requirements for allotment, issue and transfer of share certificates, mortgages have been adhered to

To arrange meetings of directors, as needed

To inform each director of the company about the agenda of board meetings

To record minutes of proceedings of meetings

To ensure accurate implementation of policies formulated by the directors

To deal with and maintain correlation between the company and shareholders

To inform the shareholders about the agenda of meetings

To handle payment of dividend within stipulated time as stated by the Companies Law

Indubitably, company secretary services are vital for any company, regardless of its size. Even though a Company Secretary enjoys certain rights and power, depending on the terms of his contract with the company, there are some restrictions to his power, such as:

Distribution and transfer of shares

A Company Secretary does not hold the right to distribute or transfer any share if he is not authorized to do so by the Board of Directors.

Duty as company agent

He cannot be a part of any meeting as a company agent without the approval of Board of Directors. He would need their consent to sign any contract for the company.

Loan

He cannot take loan in the name of the company and if he does so, the company does not take any responsibility for it.

The duties performed by a Company Secretary are manifold. He is one of the most important professionals in a company. Many firms have the confusion of choosing between full time and part time company secretary services. Each option comes with its own set of advantages and disadvantages. Consider your needs and preferences prior to making the final decision.

Feb 5 2016

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A few tips for effective fund raising

No matter whether you are a startup company or a five year old business, the need for fund raising is realized by all. But, what type of fund raising is good for you, what are the factors worth considering prior to fund raising- all these and similar questions must be addressed before beginning with the venture.
Once you have found your answers, you are all set to look for opportunities to raise funds. Below mentioned are a few tips that can help avoid wasting of time and efforts during the process.

Set your expectations

Starting with fund raising, it is crucial to comprehend that the process demands time, in fact plenty of time, along with a well-planned strategy. Reason being, there are multitude of organizations competing for funds. Additionally, the grind of capital raising each year leads to internal motivation and image problem, particularly when the organization is unable to achieve sustainability after some years.

Make certain to set highly focused, long-term goals, similar to your strategy.

Elaborate your value proposition

Donors are interested in knowing whether or not the money they offer will be used for processes other than just incremental changes. The higher the amount of funds you are seeking, bigger should be the impact you have on the donors. Represent yourself as more than flowery vision and build a transformation statement.

Clearly explain how your organization would make a positive difference to the world.

Know your Internal Rate of Return (IRR)

An effective selling tool to build is clearly knowing your internal rate of return. The IRR provides a picture of how donor’s money would help an organization to move forward, towards sustainability. This is usually beneficial for large donors who are interested in knowing whether their money will help a company to turn into a long-term sustainable organization, so that it would not realize the need for funds in future, or it will only proffer short term benefit.

Provide training to your team

While opting for fund raising Sydney, it is viable to know that there are diverse roles in its strategy. It is crucial to assign these roles to right individuals within your organization. Know who could successfully play the role of engagers, askers, connectors and stewards in your company.

If you are devoted to raise notable amount of money, consider of looking for professional help. A seasoned and reliable chief financial officer (CFO) can help you in your venture. Owing to his experience, expertise and network, he can take your business to a next level.

Even though hiring a professional for fund raising can be expensive, the positive results they can bring to your fund raising venture are worth the investment.

Know your audience

When the non-profit teams wish to acquire support of large foundations, it is important to understand that majority of these foundations serve as one time donors. Reason being, they aim at increasing their brand recognition, while hoping that their contribution allows your organization to gain desired success.

Thus, whenever you receive support the second time, celebrate the moment. This means that you are successfully accomplishing your goals and are satisfying current donors.

Stick to your strategy

Responsibilities and uncertainties are the common reasons that can divert you from your fund raising strategy. It is easy to drift from your goals and objectives.

To deal with this situation, prioritize your plans and regularly review progress reports to determine if there is anything, changing which can improve the results.

Be creative

Build creative strategies to leave a positive impact on donors. For example, you can request your donor to create a matching gift to receive which your firm has to raise matching capital within stipulated time. This helps your donors to know how serious you are about raising funds.

Being an entrepreneur, you might be well versed with the challenges involved in raising capital. However, dedicated assistance of a CFO can reduce the efforts required in the same. If you are a small company, opting for services of a part time CFO makes an ideal choice for you. These professionals offer similar services of a full time CFO, but at relatively lower prices. You can equally benefit from services offered by them.

Fund raising is important for any company to grow and expand, so take your decisions carefully.

Sep 25 2015

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