“Is This a Good Deal?” seems to be a simple enough question. However, this one question can generate huge value for you, the business owner, when you engage with your outsourced CFO on this level.  Though you can easily strike deals over a beer and handshake, when you loop in your CFO with this question, something different happens. While the bottom line answer may be distilled into a “Yes” or “No,” we push into a creative and analytical territory that can save our business owners big dollars with new perspective. Consider using this question with your outsourced CFO strategically for maximum effect to answer the following scenarios:

• You are presented with an offer from an investor or acquirer
• You have a just received a term sheet from a lender or multiple lenders
• You are buying assets but could lease them instead
• You are considering giving away equity to attract talent
• A vendor has offered certain terms for your consideration
• A new customer has specific demands
• You’re not sure if you should renew your lease
• You are deciding whether to have a more robust benefit package

You get the idea. In our experience, as your finance/accounting team, when we are asked this question, the answers often result in measurable savings or loss prevention. Entrepreneurs are often rockstars at business development and we are sometimes informed after a deal has been struck. Don’t overlook asking your CFO such a simple question. It could change your entire way of looking at the deal and lead to an even more profitable solution.