does your small business need a virtual cfo?

Does Your Small Business Need a Virtual CFO?

Scaling your business is a difficult challenge to face. What got you to where you are now in your business likely won’t get you to where you want to go—and it might even risk the success of your business in the future. If you’re discovering that your business isn’t running as smoothly as it could be and your profitability is suffering, virtual CFO services might be right for your business.

But before you decide to invest in hiring a digital CFO, it’s important to make sure that move is right for your business and the problems you want to overcome. Working with a fractional CFO isn’t right for every business.

The truth is, you don’t need a huge team to help you get a handle on your business’ finances. If you notice your finances are becoming increasingly difficult to manage and make decisions on, a digital CFO might be the best option for you. 

When Does My Small Business Need a Virtual CFO?

Time is money. And as a business owner, the more time you spend trying to understand financials to make decisions, the more time you could be spending doing something else. That’s not to say that financial understanding of your company is something you should ignore but is something you probably need help with.

The more your business grows, the more complex your finances, systems, and operations become. What was once a simple management of cash flow, payroll, and other financial tasks can quickly become an overwhelming cascade of financial decisions. 

And if you’re struggling with knowing what to do, that’s when you need the insight of someone who understands finances better than you do and has experience steering companies towards financial goals. That’s exactly what a virtual CFO can do for your business.

Feeling overwhelmed by big financial decisions? One of the biggest benefits of having a virtual CFO on your team is helping make sense of your finances to make strong decisions that guide your company forward.

Outsourced CFOs help you manage a wide range of financial management tasks to make it easier for you and go beyond basic bookkeeping and accounting. The best outsourced CFO is your translator of numbers and data to help you take action on your finances to achieve your business goals. 

Virtual CFOs can also help businesses with challenges like cash flow, tight margins, profit growth and more. Some virtual CFOs also take operations into consideration to give a more holistic approach to building a scalable, profitable business. 

I help my clients understand how processes and systems impact financials, like operations, HR, and technology, to create more lean operations that positively impact financial goals.

How Can I Find a Virtual CFO for My Small Business? 

Outsourced CFOs offer a high level strategy and expertise that can greatly benefit your business. However, most small businesses don’t need a full-time CFO’s day-to-day capabilities or high costs. Virtual CFOs are a more affordable and accessible way for small businesses to get financial management insight.

My approach to virtual CFO services goes beyond the traditional financial-only perspective and analyzes your entire business operations, from cash flow to team management to software, to help your business overcome issues that impact your ability to grow your business. In short, my job is to help your business get over hurdles of cash flow and capacity to successfully scale.

To find the right virtual CFO for you, start with making a list of the questions, problems, and challenges you want to solve in your company for financials, efficiency, and operations. Knowing what kinds of hurdles you want to overcome can help you find the right fractional CFO for your needs and what questions to ask when hiring.

If you have found that trying to balance all of the finances of your business leaves you little room to breathe or think, I may be able to help. I offer a variety of resources to help you get what you need. Get in touch today to learn more about how I can help you determine your best path forward on a Good Fit call.

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