As a business owner or entrepreneur concentrating on growing your business, your main focus is likely to be on managing operations, attracting new customers, and recruiting and retaining talent. Often the company’s finances get overlooked. How would you like to have a virtual CFO working in conjunction with you?
What’s a virtual CFO?
A virtual CFO is a seasoned professional with financial expertise who can facilitate business growth, increase bottom line profits and help interpret financial information. But, rather than working full time in your company in the C-suite, the virtual CFO is a valuable outsourced professional with the financial know-how you need, on an as-needed basis that you determine together.
The ideal virtual CFO has integrity, a big-picture vision of your operation, and the ability to translate data into simple terms that you and your management team can understand and take action on.
The benefits of hiring a virtual CFO:
- Strong knowledge of all things financial – Ability to help you make informed decisions on the right accounting software package or bookkeeping system. Can also work knowledgeably with your tax preparer.
- Insight into the drivers of business growth – Aptitude for cash flow, considerations around budgetary accounting, expenses, and tax implications of reporting revenues. This individual will help manage financial planning, accounting records and reporting as well as assist in determining when to take calculated risks.
- Access to an experienced and skillful number cruncher – Keeps business on track by establishing a corporate budget that formalizes goals, identifies key performance indicators (KPIs) and sets milestones. Also, the individual can help control expenditures and acquire capital for a low cost.
- Flexibility to accommodate growing businesses – At the ready to provide financial assistance when business needs dictate. Your virtual CFO is a quick phone call or email away, able to provide expert perspective on the financial implications of any business situation.
- Cost-effective resource – Hire a virtual CFO at a fraction of the commitment it would be to hire an in-house employee. Savings are realized since there is no need for extra office space, computer equipment, payroll taxes, and benefits.
Many startups and mature companies fail, not because the business concept is poor but rather the execution is lacking, particularly from a financial perspective. Most small, mid-sized and large businesses can benefit from an experienced CFO to ensure that they are on the right track and stay that way.
CFO Your Way offers many of Northern New Jersey’s fastest-growing companies an opportunity to get the financial management expertise they require with the flexibility they want. If you need a virtual CFO to ensure that your business enjoys the benefits of having this professional on your team—but not necessarily in your office—contact Cheryl Mucha at firstname.lastname@example.org for a consultation and to discuss your needs.