What is a fractional CFO?
A fractional CFO is a part-time CFO that specializes in startups and SMBs. They dedicate anywhere from 5 to 30 hours a week advising business owners and offering a wide variety of finance and accounting services, including bookkeeping, tax preparation, and even helping you prepare and execute short-term and long-term financial plans. Hiring a fractional CFO is an innovative solution to the financial roadblocks that many startups face.
What’s In It For Me?
Saving money - Hiring a fractional CFO helps you stay on track and keep your finances in check without breaking the bank. This way, you can avoid the commitment of hiring a full-time employee.
Making more money - Apart from saving a few bucks here and there, there’s always room to grow and earn even more. Having a savvy CFO on your side can help you find clever ways to increase your ROI without having to expand your sales team. A CFO can also help you identify cash flow issues, high expenses, and low gross margins.
Maintaining your sanity - Dealing with books, taxes, and forecasting can be a headache. A fractional CFO relieves you of those nuisances (which, if we’re being honest, are much more than just simple nuisances). A fractional CFO can develop and maintain financial forecasts and prepare budgets based on those. All you have to do is relax.
Managing growth - Scaling is a beautiful thing - when done right. If left unchecked, financial issues from scaling can easily fly out of control and leave you with the costly aftermath. A CFO can help you implement systems and procedures that support sustainable growth.
What Else Can a Fractional CFO Do?
The short answer is Everything a full-time CFO can do A fractional CFO has the same qualifications and skills as a full-time employee
Have you considered hiring someone to help with any of the following issues?:
● Selling or buying property
● Staying in budget
● Filing taxes and itemizing
● Finding cash flow issues
● Increasing low or dwindling revenue
● Offering affordable employee benefits
● Employee retention
If you said “yes” to any of these, it might be time to book a consultation with a CFO like Adam!
As your company grows and develops, you may eventually get to the point where hiring a full-time CFO just makes sense. Regardless of your current size, Adam Kae & Associates can guide you every step of the way. The best way to avoid costly financial mistakes in a business is to prevent them from happening in the first place, and that’s what a CFO is for!
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Disclaimer: This article contains information and opinions from Adam Kae & Associates, and the information and opinions should not necessarily be seen as the best possible solutions for your business. Please contact us at info@adamkae.com to help you find the best solutions for your business.