Our approach, what we do as a company
As your Fractional CFO, I have a 5-step process to provide a clear roadmap to improve YOUR profitability and cash flow. The steps are as follows:
- Business assessment: I will analyze your business and financials and show you exactly what is holding you back from making more profit and cash flow. I will provide you with instructions regarding the information that we may require to complete the work of this engagement.
- Profit & cash flow target: I will get to work getting to know you and the goals you have for your business. We will then set profit and cash flow goals and put together a plan designed to improve the profitability and cash flow of your business (the amount of cash added to the bank balance).
- Create a scoreboard: Each month I will give you a simple one-page “scoreboard” report that will clearly show you what’s going right and what’s going wrong.
- Help you determine an action plan: You and I will get on a video call each month and I will provide you with a short list of the MOST important “next steps” that need to happen within the next 30-days. We will not tackle more goals than your team can manage.
- Help you outline a long-term plan: At the same time, I will work to help you increase the long-term value of your business so that you have a well-oiled machine that can run without you by your leadership team.
As a result of this we will know exactly what to focus on every month to have a more profitable (and higher cash flowing) business. You'll finally understand the financial health of your business (and what to do about it). And, you no longer have to be in this by yourself. You will have a ‘go-to’ financial guide. I will be there for you.
Q: What does a Chief Financial Officer or CFO do?
A: a CFO is responsible for tracking cash flow and financial planning and analyzing a company's financial strengths and weaknesses to propose strategic direction.
Q: What are fractional CFO services?
A: A fractional CFO is an experienced financial professional who works with companies to steer financial decisions in a direction that ensures good financial health.
Q: What is the difference between a fractional CFO and an outsourced CFO?
A: The terms fractional CFO, outsourced CFO, and part-time CFO are interchangeable. These terms describe a finance professional with extensive expertise in finance, business, accounting, and operational guidance. These individuals generally work with a company on a part-time or project basis.
Q: When is it appropriate to hire a fractional CFO?
A: Small and growing businesses often need the services of a CFO, but they don't need to fill that role with a full-time employee. This is where the services of a fractional CFO come into play. A fractional CFO brings a wealth of experience across different aspects of the business without burdening a small company with excessive costs.
Q: What is the difference between a bookkeeper, an accountant, a CPA, and a CFO?
A:
- Bookkeeping – Prepares the chart of accounts through to the financial reports.
- Accountant – Provides the analysis of the financial reports (Does not have to be a CPA)
- Ratios
- Trending
- Forecasting
- Budgets
- CPA
- Audit the reports
- Sign off on the validity of the data
- The chief Financial Officer (CFO) Strategically Advises on the reports provided by the accountant to the business owner, which are focused on the revenue and profitability of the business.
