Sometimes it’s not feasible to hire a full-time resource for your business. Reasons could be due to cost, or it could be the lack of being able to find the right resource. But in reality, it’s likely that you’re just too busy and you need a solution yesterday.
You’re not alone in this situation if you consider that the average cost of hiring any professional employee is around $4,000 (dol.gov). The cost of hiring a new employee involves multiple resources across the recruiting, interviewing, onboarding, and training stages. Beyond just the cost, the average time to fill a professional role is 42 days (SHRM.com). And, these costs and timelines are going to be even higher when you’re considering hiring a skilled accounting professional with cannabis experience.
You know you need access to skilled accounting professionals for your business to grow and be successful. Your business cannot run by itself, you need accounting professionals to ensure compliance, scalability, and most importantly, profitability. Each financial operational professional, from bookkeeper to controller to CFO plays an integral role in ensuring your business is operating successfully.
How is it possible to have an easy way to build this amazing and skilled accounting team to help your business when it’s expensive and time-consuming, and you’re already doing more than you have time for in a day to do?
Northstar provides a leveraged way in which your business can get the exact team to perform the exact services that are needed, at the right time and at the right price for your business. Northstar is an extension of your team, providing fractional services when you don’t have the financial infrastructure in place.
We know it doesn’t make sense to hire a full-time CFO, when more than 50% of that CFO’s time is going to be spent doing work that a controller would do. And you certainly don’t want to be paying a controller-level person to be entering journal entries for you. You don’t have to have a full-time in-house team to have the feel and results of an in-house team.
Northstar’s world-class finance team, built specifically for you, ensures your business is always top priority and your needs come first. Our approach is to consult with you to fully understand your current day-to-day processes and challenges, and then immediately assign a dedicated team to take over, quickly get to a steady state, and implement best practices and efficiencies ensuring a lean and cost-effective accounting team and process.