What Are Fractional CFO Services?
Finance Pals, Paul Heffner, expands on the valuable role a Fractional CFO
can provide as a financial consultant for your start-up and financial advisor
for maximum growth potential and profitability in your business.
A fractional CFO assists CEOs and advise on questions regarding situations such as cash flow. As a financial consultant for start-ups and established businesses, a fractional CFO can assist with services such as a 5 year proforma and a 13 weeks cash flow forecast. They also can assist with bookkeeping, accounting, tax and reporting but as many businesses already have these operations in place, the focus for a fractional CFO is primarily on that of forecasting, planning and strategy of cash management. A fractional CFO utilizes a large network of bankers, asset based lenders, and investors to assist in accessing current and future cash flow needs.
Questions a Fractional CFO helps you answer:
- What are revenue and profit going to be?
- How many people can we hire and when?
- Where can we cut costs?
- Where should we invest more money and increase revenue?
- How can we acquire more funding to invest in growth? How
much additional funds do we need to do this?
- What if we increase prices by 5% or expanded to a new region?
If you need help or have questions, Finance Pals would love to give you some free tips and advice over a 30 minute phone call. We love all things Finance, whether it’s bookkeeping, accounting, FP&A, fractional CFO responsibilities or taxes and want to share our knowledge with you!