Why Every Business Owner Needs a “Quarterback” for Their Financial Team

Running a successful business requires a strong team of advisors—each a specialist in their own field. You might already have a financial advisor, CPA, and attorney supporting your business. But are they working together seamlessly? Without a dedicated “quarterback” to coordinate them, you might be missing out on cost savings, streamlined processes, and better outcomes. Let’s explore why a single point of coordination is essential, the benefits of having a team quarterback, and what it could mean for the future of your business.

In the world of business advising, a quarterback is the central figure who manages and organizes your team of professionals. They ensure your financial advisor, CPA, attorney, and other specialists collaborate effectively to support your overall strategy.

• Central Communication Hub: Your quarterback serves as the main point of contact for all team members, reducing the chance of miscommunication and ensuring everyone is on the same page.
• Alignment on Goals: The quarterback keeps each team member aligned with your goals, eliminating silos and helping avoid conflicting strategies.
• Streamlined Processes and Coordination: They create and maintain schedules for meetings, check-ins, and reviews, so nothing slips through the cracks.
• Proactive Problem Solving: By staying on top of everyone’s responsibilities, the quarterback can identify potential issues early, helping prevent costly surprises.

In essence, they play an essential, overseeing role, similar to that of a project manager, focusing on harmonizing your team’s efforts for maximum impact.

1. Improved Outcomes Through Coordinated Strategy

When all team members work in silos, critical details can get lost. The quarterback ensures that each advisor’s strategy complements the others, so your business operates under a cohesive, unified plan.

• Example: Your CPA and financial advisor both need accurate and up-to-date financial information. The quarterback ensures they receive and review the same data, helping prevent costly financial missteps and enabling better tax and investment strategies.
• Result: A well-coordinated team reduces the risk of conflicting strategies and enhances your ability to make decisions based on the full picture.

2. Reduced Costs and Increased Efficiency

Without coordination, duplicated efforts and miscommunications can drive up costs. A quarterback optimizes your team’s efforts, minimizing redundancy and maximizing efficiency.

• Example: By streamlining communication, your quarterback can help avoid situations where advisors repeat work or spend time resolving misaligned strategies, ultimately lowering your professional fees.
• Result: Cost savings from improved coordination, along with time saved by streamlining processes and communication.

3. Simplified Decision-Making

It can be overwhelming to balance advice from multiple experts, each with their own area of expertise. A quarterback helps by translating complex strategies into actionable steps, making it easier for you to make informed decisions.

• Example: Your financial advisor might recommend a tax-efficient investment strategy, but this decision could have legal implications. The quarterback helps integrate these perspectives, presenting a clear, unified recommendation.
• Result: You gain clarity and confidence in your decisions, with a clearer understanding of how each choice aligns with your goals.

4. Proactive Risk Management

A lack of communication among advisors can lead to blind spots. The quarterback helps prevent these by anticipating risks and proactively addressing them with the relevant team members.

• Example: If your attorney identifies potential legal risks in a business expansion plan, the quarterback ensures this is communicated to your financial advisor and CPA, so all aspects are considered before proceeding.
• Result: Reduced risk from overlooked issues and a stronger, more resilient business strategy.

5. Focused Goal Alignment

Your business goals may range from revenue growth and tax savings to legacy planning. A quarterback ensures that each team member contributes to these goals rather than focusing only on their niche area.

• Example: If one of your goals is to transition the business to a family member, the quarterback coordinates your CPA’s tax strategy with the legal framework created by your attorney, aligning it with the long-term financial planning handled by your financial advisor.
• Result: Your entire team works toward shared objectives, creating a more comprehensive and effective strategy for achieving your goals.

The ideal quarterback is someone with a deep understanding of both your business and the various roles each team member plays. This person is typically:

• A Financial Advisor or Business Planner: Many business owners choose their financial advisor or business planner as the quarterback because of their broad view of both personal and business finances.
• An Experienced CFO or Controller: For larger businesses, an internal CFO can serve as the quarterback, overseeing coordination across all professional advisors.
• A Trusted Business Consultant: In some cases, business owners bring in an outside consultant to serve as the quarterback, especially if they need an impartial party with experience in cross-functional team coordination.

Whichever option you choose, your quarterback should possess excellent communication skills, organizational abilities, and a strong understanding of the business owner’s goals.

1. Establish Regular Check-Ins and Team Meetings: The quarterback organizes periodic check-ins to keep each advisor updated on your evolving needs and strategy. These meetings help ensure everyone has access to the latest information and can adjust their approach accordingly.
2. Create a Shared Strategy Document: Having a central document that outlines your business and financial goals keeps all advisors aligned. The quarterback ensures this document remains current and accessible.
3. Define Roles and Responsibilities Clearly: Each advisor should have a clear understanding of their role within the larger strategy. The quarterback works to avoid overlaps or gaps in responsibilities.
4. Use Technology to Streamline Communication: The quarterback can leverage collaboration tools to facilitate secure communication among team members, reducing email overload and keeping conversations organized.

When your advisors work together, it not only strengthens your business but also enhances your financial resilience and ability to pursue opportunities.

• Enhanced Strategic Agility: With a unified approach, you can respond more quickly to changes in the market or your personal financial situation, as your team is already aligned on your priorities.
• Optimized Business Valuation: A coordinated team can help ensure all aspects of your business, from finances to legal considerations, are prepared for a potential future sale, increasing its value.
• Reduced Stress for the Business Owner: With a quarterback handling coordination, you’ll spend less time managing advisors and more time focused on leading your business.

A well-coordinated advisory team, led by a dedicated quarterback, can make all the difference for a business owner. By streamlining communication, aligning goals, and reducing costs, the quarterback ensures that each professional on your team contributes to a cohesive strategy designed to drive your success. Instead of juggling multiple silos, you can have peace of mind knowing your team is united behind your vision. Investing in a quarterback could be the key to building a stronger, more resilient business—one that’s ready to thrive, whatever the future holds.