A laid back saturday…

Last Saturday we had a very warm mid/late September day. We had over 30 degrees Celsius at noon.

Even today it is not that bad, but it is no way near the 30 + Celsius.

Because of the nice weather I thought that enjoy it while it lasts, I guess that was the last hot autumn day for 2015.

I had a laid back walk and a nice lunch in the city.

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Morning coffee or the power of habit

Today I have decided to do something I have not done for a while, I went to have a coffee by my own at espressee.wpid-20150911_105314.jpg


Looking at the coffee that I’ve ordered I asked myself why did I dropped this morning coffee ?

What happened that made me give this up ?


Well, I guess it happened because the human being tends to make it’s life easy and avoid unnecessary effort.I guess I gave it up because it was some kind of an effort to me I needed to go there , I was thrown of track from other older habits.It was much easier to give it up rather to stick to the outside morning coffee.

The question is now , how can this little story be translated into the business world ? What I have concluded out of this little story is that going the extra mile is always worth the effort.

Do not go out of the way of new challenges, even though the old way of doing things is easier and you feel more comfortable with.Stand out of the crowd by thinking out of the box and get creative, get innovative. This is the only way you can stand out from other businesses that compete with you in the same market.

Establish a challenging new innovative strategy for you and your business and do not let old habits ( always ) win.Old habits tend to be the governing force that dictates what we do, sometimes it is worthwhile to fight against them.

Actually the fight is you vs. YOU.  Where YOU have to win all the time.

So don’t be a looser , be a winner and fight the inner you.

Summer news and changes

imagesOver the summer I have made some changes to my blog.

The 1-st change is to have it under a proper TLD domain instead of the previous one.

The blog can be found under www.mariusdaraban.ro

Also together with the proper TLD domain I have changed also the hosting company and the blogging platform.

I hope that all this changes will be to the better .

The new platform has offered  lot of more options and features that I still have to discover and try out .

So if things are not always the way they should be…..sorry for that …I’ll try to fix them asap, I am still learning how to use the new platform .


Why you should or not consider to outsource your CFO ….part 2

Recently I was talking about the idea that businesses need to reinvent themselves and to be very
creative in order to assure their success.

Because of the scarceness of  resources for business ( you never have enough of what you need ) why not go for the outsourcing option.

The outsourcing of topics like Customer Care , Call, Centres, IT , Tech Support, etc  is a very common and widely accepted topic.

What about the outsourcing of your CFO function ?

I am using the term CFO for a senior finance professional or executive

To get a clear answer about this potential , partial or complete outsourcing of your CFO function you must first clarify the following essential aspects:

  1. Do you know what a CFO is doing ? What is the role of the CFO in an business ?
  2. Do you as a business owner realize that your business has grown and that you need a something or somebody to help you more with your business numbers ?
  3. Are you ready to empower and trust somebody to take care about a part of your business ? 
  4. Do you want to move on further with your business ?
  5. Do you want professional help and support for your business support services ?

If the answer to all of the above is YES then definitely you are ready for the outsourcing of some of your support services.

1-st step before going further with this outsourcing is to ask yourself what do you want for your business and what do you expect from an outsourced CFO .

1.1 What do you want for your business ? 

Well this is pretty obvious you might say , you want to develop your business .
This is all fine and fair , the only thing is that you might want to grow in a way that you are certain that you can count on the healthy growth of your business.
This kind of a growth is not easy to manage
…you are right when you say growth is growth ergo it is OK.

Well not really , you must grow in a consistent way and not too fast. The growth rate of your business must be in sync with the rate that your organization can adjust and accommodate the growth.

Consistent growth means that you have to have a pretty good ideea about your business on at least mid term if not long term.  From the CFO perspective this would mean that you have a strategy that will grant you some predictability and easier planning.

1.2  What can you expect from an outsourced CFO

For sure you can not expect , OK small correction , you should not expect that you got rid of your problem, the healthy growth of your business.  It is still you business and you are still in charge and fully liable about what your doing.

This outsourced CFO function can give you as a business owner the breathing space to focus on the actual business development like promoting sales, developing your product and/or services, hire/fire your staff, etc . Don’t worry you still have a lot of things to do ….

From your outsourced CFO you should have at least this benefits :

  1. consistent and clear image of your business results (OK, partially this can be received also from your accountant ) 
  2. “translation” of your financial statements in business terms , not accounts, balanced / unbalanced accounts , formal things , tax statements ( some accountants provide to their customers some of the “translation” but not the complete view ) 
  3. based on  the financial statements the CFO should be able to project / adjust / validate your defined strategy 
  4. you should get a clear and concise cost monitoring system setup 
  5. benefit from your CFO’s experience …that should be at least 10 years in various organizations and business models
In this post will not address the topics who needs CFO services , why CFO services, what services can you actually get  because these have been discussed in previous posts.
My view on CFO services can be found also here . 
Anyhow if you like to be kept up to date about new posts please feel free to subscribe to my RSS Feed, +1 me on Google Plus or check out my FB on TopCFO
As always any comments , ideas and suggestions are welcome. So feel free to share ( if you like my post) comment and discuss . 

Why you should or not consider to outsource your CFO ….part 1

In the today’s business environment it is not uncommon to have different business functions outsourced.

To have IT, Accounting, Tech Support, Call Centres and Customer Care Support outsourced is no news any more. If you look at big corporations all over the world you’ll see that all of them have most of the support services outsourced in shared services centres that are owned by the corporation or by 3-rd parties.
In the end it depends on the adopted strategy for the specific business model , do you want to be very lean and sleek, you keep only what is strictly linked to your core business.

If you want to present a strong, asset rich and business then you go for the build up of resources and competencies.

Considering the financial world crisis you should be set up as lean as possible, you should want to use your resources for your core business and business development and do not care so much about business support services, you should not concentrate, as a business owner, to much on the support services that need to be there , well to support the business.

No business equals no business support services  


no business support services equals no business

The statement above means that you as business owner should focus on business development that promotes and makes the business go forward.

The smart solution is to buy the needed support services in , at 1-st up to a certain business size go for the outsourcing option of the needed support services. Only when your business has grown to a certain size and complexity it would make sense to hire your own support staff.

As said before , it depends on the chosen strategy for your specific business case.
Both options have their pro’s and con’s. This is only a matter of option.

Assuming that you go for the outsourcing option, let’s go now to a more daring hypothesis.

What about the CFO function complete / partial outsourcing ?

Would you do this kind of outsourcing ?

If yes what activities would you outsource ?

The pro’s and con’s of CFO outsourcing can be many and their efficiency can depend on the way you use the outsourced CFO. 

Most of the outsourced business functions are not business critical and are usually support services. But in the today’s economic environment business need to reinvent themselves and be very creative in order to succeed.

So why not consider the outsourcing of your CFO ?

Who needs CFO services?

At TopCFO, we believe that once businesses get to a certain size, there is a real need for a professional CFO. While we often provide CFO services for mid sized companies, we have partnered with smaller and larger businesses as well.

Engaging a professional company that delivers CFO services can particularly benefit small and mid-sized businesses, which often see their financial situations become more complex as they grow.

Many of these companies don’t have room on their payroll to hire a full-time CFO and lack the in-house financial experience they need to make informed strategic, long-term and day-to-day decisions.

Outsourcing the CFO function is a way to bring on much-needed financial expertise on a flexible and affordable basis.

Contact us to get started with your free one-hour meeting.

Request a first meeting to see how TopCFO services can add value for your business within your budget and timeline

If you find our page (https://fb.com/TopCFO)interesting a “Like” would be appreciated. 

TopCFO services

Our services cover the following areas : 

Finance Operations , Business Management , Strategy & Consulting , Training andVirtual / Part time CFO 

Financial Operations

  • AR and AP Management
  • Audit ( internal / external )  Preparation
  • Cash Flow Management
  • Internal Controls
  • Period-End Closing Procedures
  • Product & Activity-Based Costing
  • Financial analysis and operational results analysis
  • Improve bottom line profitability
  • Key Performance Indicators – identification, tracking and analysis
  • Financial projections development
  • Cash flow projections development
  • Banking/financing relationships

Business Management

  • Budget planning and implementation
  • Break-Even Analysis
  • Cash Flow Forecasting
  • Contract Negotiation
  • Corporate Governance
  • Expense Reduction and reporting
  • Management & Business Plans
  • Performance Measurement
  • Profitability Improvement
  • Systems assessment and development for finance, operations and administrative systems
  • Organizational structure assessment and recommendations
  • Growth plan development and management
  • Financial staff assessment, training and management
  • Project management
  • Business turnaround services

Strategy & Consulting

  • Advice on business structure and company incorporation
  • Business Plan Preparation
  • Equity & Debt Financing
  • Internal Audits
  • Long Term Growth
  • Operational Analysis & Strategy
  • Restructuring/Right sizing/Re-engineering
  • Strategic Planning
  • Confidential Financial Projects
  • Develop and document policies and procedures
  • Strategic planning / business plans / investor presentations
  • Non-executive director / BoD member services


  • Strategic management
  • Budget and budgeting process
  • Cash & Cash Flow management  

Virtual CFO / part time CFO

Contact us to get started with your free one-hour meeting.

Request a first meeting to see how TopCFO services can add value for your business within your budget and timeline

If you find our page ( https://fb.com/TopCFO ) interesting a “Like” would be appreciated. 

TopCFO – my way of CFO services

TopCFO will work to develop a true and thorough understanding of how your business operates so we can provide you with the best financial information and data. Sharing and collaborating with the people who can offer insight and advice in key business areas.

The success of our services relies on ongoing and consistent collaboration with people who are involved in the day-to-day issues of your business and work as part of your team.

All of TopCFO clients have retained a CPA to assist their company with key accounting functions.  These CPAs play a key role in advising the company in areas such as tax planning and by preparing tax returns and certifying financial statements. Whether their businesses are just getting off the ground or established and growing, all of our clients realize an outside CPA is critical to their success. And we agree!

TopCFO is not a certified public accounting firm — and we don’t try to be.   We can’t do the high end, specialized services that a CPA firm can do.
Like business owners and managers, we are forward looking.  We understand having the best grasp possible of your business is the key to making the biggest impact. That’s why our CFO services are designed to engage all of the key people involved in your company’s financial operations.

Using this collaborative model allows TopCFO to deliver CFO services that make the biggest strides toward your goals and for you to make the best financial decisions for today and tomorrow.

Contact us to get started with your free one-hour meeting.

Request a first meeting to see how TopCFO services can add value for your business within your budget and timeline

If you find our page (https://fb.com/TopCFO) interesting a “Like” would be appreciated.