Many small to mid-sixed companies make a common mistake. They simultaneously over-hire and under-hire. How? They over-hire for today, not needing a full time CFO, but attempting to make up for it by hiring a “CFO-lite,” usually someone who has been a controller of a small company. But they have also under-hired for tomorrow, because as soon as the company starts to grow in size and complexity, the person they hired is not up to the challenge. The next mistake companies make, is that they, out of loyalty to the person, will give this person the opportunity to fail for years, costing the company dearly.
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