How A CFO Can Help You Sleep Better At Night
Babies, as any hollow-eyed new parent will tell you, often sleep for just a few hours at a time which is why ‘sleeping like a baby’ is a practice best avoided if you have a growing business to run and need to be on top of your game during working hours.
Instead, sleep experts recommend you look for ways to get between seven and nine unbroken hours of night-time sleep.
That’s because sleep is believed to be crucial to your physical and mental well being. It’s essential for maintaining cognitive skills such as communicating well, remembering key information and being creative and flexible in thought, says Dr Justin Varney in an article for Public Health England.
Insufficient sleep has a “profound impact” on your ability to function, he says. It makes you more vulnerable to infection and raises the risk of accidents and injuries.
What’s more, studies are beginning to show a link between a lack of sleep and conditions such as high blood pressure, heart disease and diabetes.
So, what can you do to ensure you get a great night’s sleep?
Almost every article you read on the topic will fail to mention what is arguable the number 1 strategy for a great night’s sleep… They’ll tell you to transform your bedroom into a technological-free zone (so no late-night watching of ‘Game Of Thrones’ or checking your Twitter feed before you shut your eyes). That’s as much to avoid too much stimulation before sleep as it is to minimise the amount of blue light you’re exposed to from some TVs, computer screens, tablets, smartphones, and LED lighting. The blue light can keep you awake by suppressing the sleep-inducing hormone melatonin.
Sleep hygienists (the name for experts in this field) also recommend you stick to regular bedtimes and avoid consuming caffeine and rich food in the last few hours before bed, and so on.
What most ‘sleep tips’ articles fail to mention is one of the best ways you can get your full quota of night-time sleep—that is how to deal with work-related stress which is one of the biggest causes of sleep problems. As the owner or CEO of a growing business, one of the best ways you can reduce your work-related stress is to hire an experienced Chief Financial Officer (CFO).
Take the CFO Centre’s part-time CFOs as an example. They all have many years of big business experience so that they can identify and assess the areas of risk in your business. More importantly, they can advise you on how to deal with such risks now and in the future.
Equally, part-time CFOs can highlight areas of risk that you are either unaware of or don’t know how to deal with. In other words, they’ll identify, quantify and help you to manage the risks your organisation faces.
But they do so much more than that. They will also advise, analyse and implement processes and practices to ensure your organisation performs better. They can provide strategic analysis and advisory support on every finance-related aspect of your business.
At any one time, they can be involved in all those areas of the business that have previously kept you awake at night: things such as reporting, auditing, tax planning, business planning, capital expenditure, working capital management, budgeting and exit planning. Your part-time CFO will work on your financial strategy and finance operations while also managing your tax planning, legals, compliance, outsourcing and banking relationships.
You can rest easy at night, knowing your part-time CFO will help you to improve your cash flow and profitability and provide the insight into how your business can move seamlessly to the next level.
With a part-time CFO on your side, insomnia and restless sleep should become a thing of the past.
How it will work
The CFO Centre’s part-time CFOs use a proven framework known as the ’12 Boxes’ to identify where the problems are within any business. They use it to review every aspect of your company finance function and identify every problem area.
They will help you to understand your company’s finances; eliminate cash flow problems; identify cost-savings and improve profits.
They can also help you and your team to understand your main profit drivers; find and arrange funding; identify your Critical Success Factors and Key Performance Indicators (KPIs), help you to expand nationally and internationally; and build value to make your business more attractive to investors or buyers.
To discover more about the 12 Boxes, .