Fractional CFO Services
Small and Medium Size Businesses Often Need CFO Level Expertise But Cannot Afford A Full-Time CFO
Our Virtual CFO Services are designed for small and medium sized companies who need professional financial management at a cost that is far lower than hiring a full-time CFO or controller.
DOES YOUR BUSINESS NEED A CFO?
To determine if your startup needs a CFO, ask yourself the following questions:
1. Is my business having problems with basic bookkeeping and record keeping?
2. Are my basic financial statements in order?
3. Do I have detail on KPIs such as customer churn, customer acquisition cost, etc.?
4. Do I know when my company will run out of cash, and have an understanding of my current burn rate and spend categories?
5. Do I have a board approved budget that shows me a roadmap of how my business will achieve its goals?
6. Does my team have projections and guidance on who and which employees they can hire to meet the company’s goals?
7. Am I experiencing issues negotiating the financial details of customer or vendor contracts?
8. Have I prepared the diligence materials that a prospective investor will need to make an investment decision?
9. Do I have a strategic and financial vision on my long-term pricing, revenue growth scenarios and spending plans?
If you’ve answered “no” to Questions 1 and 2 indicate that you need a good, outsourced bookkeeper, possibly bundled with a controller. Questions 3 and 4, you should consider hiring someone to help with financial modeling or part-time FP&A. Questions 5 and beyond indicate that you need CFO level help, which, for many startups, can be achieved by hiring a part-time finance professional who understands the industry your business operates in.
1. Is my business having problems with basic bookkeeping and record keeping?
2. Are my basic financial statements in order?
3. Do I have detail on KPIs such as customer churn, customer acquisition cost, etc.?
4. Do I know when my company will run out of cash, and have an understanding of my current burn rate and spend categories?
5. Do I have a board approved budget that shows me a roadmap of how my business will achieve its goals?
6. Does my team have projections and guidance on who and which employees they can hire to meet the company’s goals?
7. Am I experiencing issues negotiating the financial details of customer or vendor contracts?
8. Have I prepared the diligence materials that a prospective investor will need to make an investment decision?
9. Do I have a strategic and financial vision on my long-term pricing, revenue growth scenarios and spending plans?
If you’ve answered “no” to Questions 1 and 2 indicate that you need a good, outsourced bookkeeper, possibly bundled with a controller. Questions 3 and 4, you should consider hiring someone to help with financial modeling or part-time FP&A. Questions 5 and beyond indicate that you need CFO level help, which, for many startups, can be achieved by hiring a part-time finance professional who understands the industry your business operates in.
What is a fractional CFO?
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A fractional CFO is a part time CFO for small companies. It is a cost-effective way for small businesses to utilize professional finance and accounting without the commitment of a full-time hire.
If your startup is growing fast and you need someone to manage your finances, but you’re not ready to hire a full-time employee, you may need a fractional CFO.
A fractional CFO is an experienced Chief Financial Officer who provides services for startups on a part-time, retainer, or contracting basis. The main responsibilities of a fractional CFO are to:
Fractional CFOs most commonly partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, or navigate an audit and/or transaction. The CFO should be helping translate your company’s metrics into insight that the rest of the management team can use to make strategic, important decisions such as when to make additional hires, when to ramp up sales or marketing spend, or how potential contracts will impact unit economics.
Unlike a full-time CFO who oversees and maintains all general financial strategy or an interim CFO who performs CFO duties before or between CFO hires, a consulting CFO’s duties are usually on a project basis and are specifically tuned to your company’s particular needs, challenges, or goals. This allows your company to benefit from the experience and expertise of a premium CFO without the operating costs of a full-time CFO ie. salary, benefits, and bonuses.
A fractional CFO is a part time CFO for small companies. It is a cost-effective way for small businesses to utilize professional finance and accounting without the commitment of a full-time hire.
If your startup is growing fast and you need someone to manage your finances, but you’re not ready to hire a full-time employee, you may need a fractional CFO.
A fractional CFO is an experienced Chief Financial Officer who provides services for startups on a part-time, retainer, or contracting basis. The main responsibilities of a fractional CFO are to:
- Manage the startup’s financial reporting.
- Build and maintain the startup’s projections and budget.
- Execute capital raises i.e., venture capital rounds and handle legal and negotiations for the CEO, such as leases, insurance, etc.
- Manage and support the company’s financial infrastructure.
Fractional CFOs most commonly partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, or navigate an audit and/or transaction. The CFO should be helping translate your company’s metrics into insight that the rest of the management team can use to make strategic, important decisions such as when to make additional hires, when to ramp up sales or marketing spend, or how potential contracts will impact unit economics.
Unlike a full-time CFO who oversees and maintains all general financial strategy or an interim CFO who performs CFO duties before or between CFO hires, a consulting CFO’s duties are usually on a project basis and are specifically tuned to your company’s particular needs, challenges, or goals. This allows your company to benefit from the experience and expertise of a premium CFO without the operating costs of a full-time CFO ie. salary, benefits, and bonuses.
Fractional CFO Services
Fractional CFO Services
The Benefits Of Our Virtual CFO Service Will Exceed Your Expectations
Our profit-driven approach to comprehensive business financial management will relieve the burden of day-to-day accounting, bookkeeping and business finances. Your business will experience growth and efficiency gains through carefully controlled expenses and our innovative approaches to increasing revenues.
Is Your Business Ready For A Fractional CFO?
Our experts offer you the flexibility to gain the right leadership and expertise for your growth stage and goals, without the full-time cost. We have significant experience in the specific needs of startups and small businesses. Get the strategic leadership your business needs to achieve long-term success today.
Not sure where to start?
Contact us today to schedule a free consultation.
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