Controller Or CFO: How To Know When You're Ready For Either

Forbes

29-05-2025

Kyle Hollenbeck, Cofounder of Blt Kitchens and Family of Brands.
Deciding to hire a controller or CFO isn't easy—and it certainly isn't cheap. But for many growing businesses, it might be the most impactful investment you can make. Not having the right financial leadership in place can cost far more in the long run through missed opportunities, inaccurate reporting and poor strategic planning.
I know this from experience: We waited too long. For a while, we leaned on what we thought were enough—a solid accountant, a diligent in-house bookkeeper. Our P&L looked fine on the surface. But underneath, there were cracks. No one was guiding the financial strategy. No one was questioning assumptions, modeling cash flow accurately or making sure we were optimizing for profitability and growth.
Here's the truth: Your accountant might keep you compliant. Your bookkeeper might keep you organized. But neither is responsible for thinking like an owner. That's where a controller or CFO comes in—and they're not the same.
A controller focuses on accurate financial reporting, internal controls and ensuring the books are tight and clean. They're tactical, ensuring compliance and reliable data.
A CFO (chief financial officer) is strategic. They turn numbers into insight, help you forecast the future and often sit at the leadership table to steer the company's financial direction. They think big-picture—margins, fundraising, expansion, debt strategy, tax posture—and they ask the hard questions.
Industry standards suggest that when your company hits $10 to $20 million in annual revenue, it's time to bring on a controller. For us, we didn't even start having serious conversations about it until we were doing over $11 million across the board—and not with the best profit margins. That delay cost us.
At our shared kitchen and commissary business, the need was clear. We were essentially operating as a real estate and property management company, and with that came complex financials and significant tax opportunities tied to owning buildings. Getting someone in place who could help us navigate that was a no-brainer.
But with my other business, it was a different challenge. We needed to understand what kind of marketing spend we could really afford. Did it make sense to launch into a new market? Could we support a seasonal push or innovation? Without clean data and strong financial forecasting, those decisions felt like guesswork.
It was all about knowing the numbers—and having someone who knew how to interpret them.
The good news? You don't have to go all-in immediately. Fractional CFOs and controllers are more common—and more powerful—than ever. They bring high-level experience without the full-time salary. Sometimes, a few hours a week of the right person's time can dramatically shift your business trajectory.
Looking back, one of our biggest financial mistakes wasn't bad budgeting—it was waiting too long to put someone in place who could see around corners and help us move with confidence.
If you're unsure whether it's time, it probably is. Take a step back and audit your current financial setup. Are your reports accurate? Are your decisions backed by clear data and forecasting? Who's truly responsible for financial strategy?
Explore fractional options, even if it's just for a diagnostic or cleanup. The earlier you invest in clarity, the better prepared you'll be for growth, risk and opportunity.
Because the numbers matter—but only if you know what they're really telling you.
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