Virtual CFO: Understanding an entrepreneur’s source of satisfaction

virtual cfo

Known as risk takers with brave and strong-willed hearts, entrepreneurs are always fueled by one thing – desire for utmost satisfaction. Satisfaction, fulfillment and gratification, in the mind of an entrepreneur, are among the things that keeps him or her grounded and focused.

Satisfaction in the business setting can be sourced from a lot of things. Believe it or not, most virtual CFO would say that it is not always about revenues, profits and net earnings.

 1. Satisfaction from imparting ideas

Any businessman intends to share his knowledge to people who believes in his product or output. For instance, when Uber was just a start up biz that’s being put up by two entrepreneurs, they banked on each other’s ideas until their concept became one of the biggest mobile-app based companies that went public shortly after. When Snapchat was just being developed by two young techs, they had to impart to investors what their product is about, before it eventually became successful.

2. Satisfaction for innovation

An entrepreneur’s biggest weapon in the fast-paced and dynamic business environment is innovation and progress. Without cutting-edge concepts and pioneering products, a business is not likely to survive in the long run. Satisfaction mainly comes from an idea that eventually blossoms into an innovative concept widely accepted by the market.

3. Satisfaction from risk being paid off

Every virtual CFO would stress the fact that risk is involved in any sort of business. Whether a businessman is risk-averse or a full-pledged risk-taker, the returns that risk gives back is an instant source of gratification that keeps an entrepreneur striving. Or instance, introducing a new concept in Toronto can be costly and risky. However, if it turns out to be a hit in Canada, the pay off with be worth every risk taken.

4. Satisfaction from being a catalyst of change

A product that brings change to the society leaves a legacy that generations will always remember. Steve Jobs, for instance, will always be remembered for his pioneering concepts through the Apple products. Apple has successfully took a huge share in the mobile market all across the globe by dictating trends in technology. Another example would be Uber and Grab Car system, which has revolutionized the way people think about transport.

While bottom line figures like earnings ratio and balance sheet metrics would determine a company’s performance, an entrepreneur’s satisfaction would always fuel his passion to push the business further.