Availing themselves the opportunity to hire a fractional CFO (i.e. a CFO who works part-time for you as well as part-time for other companies) is something more and more companies are doing. For growing companies there is tremendous value from a CFO, but what if their needs and budget for that resource are much less than full-time. That’s where a fractional CFO can be a great option. Do any of these situations ring a bell?
- Your team lacks the expertise and experience of an experienced CFO but you want help and advice from such a person
- You don’t have a need for a CFO 40 hours per week, or anything close to that, but you want their input, advice and more.
- You realize that if you hire a full-time CFO they are likely to be spending most of their time doing many tactical things that you can pay a lot less for
- You can’t afford a good, experienced CFO on a full-time basis
- Your cash is much better invested in things other than a full-time CFO
- Your time is more valuable building and/or selling your product and team than acting as the CFO/Controller.
If you’re thinking about hiring a fractional CFO (if not either or also a part-time controller, accountant or bookkeeper, what makes CFO Options different?
#1: We think like entrepreneurs
You need and deserve financial professionals that have worked in an entrepreneurial environment and are comfortable working with entrepreneurial CEO/owners who are generally very different from corporate CEOs. Our CFOs and Controllers have experience and an affinity to working with entrepreneurs.
#2: We take a 360 view of the business.
Our CFOs understand the business issues and considers the impact of financial decisions on the business and its customer experience–not just how those things impact the numbers. This means you have a true advisor for not only those matters related to dollars and cents but also the ones related to better engaging customers and employees.
#3: Entrepreneurs that choose to work with us have a track record of growing their businesses.
Our CFO’s know how to help entrepreneurial companies by aligning the right pieces for rapid growth, including building a finance and accounting department, implementing systems to manage growth and raising capital. These efforts have catapulted many entrepreneurial clients, including ones that:
- Increased operating profits 800% with focus on gross margin by product line, holding the line on overhead expenses and two very accretive (equity-value-adding) acquisitions (Read Case Study)
- Tripled operating cash flow with a modest revenue increase (Read Case Study)
- Grew revenue from $1 million to $35 million in four years (Read Case Study)
- Raised debt and equity with amounts ranging from $500,000 to $100 million