3 Benefits of a Fractional CFO That’ll Help Milk That Cash Cow

A person in a purple blazer sits at a desk with a laptop, smiling and holding a sheet of paper.

Any CFO — fractional or otherwise — empowers your business with the financial foundations for insane levels of success. Seriously. They’re responsible for managing all aspects of your business’s finances, from accounting to budgets and forecasts — even treasury management.

So, when you need someone with the skills to take things up a notch or two in the most cost-efficient way possible, do you really want to fork out your hard-earned cash for a full-time financial strain *cough* I mean, a full-time chief financial officer over a more cost-effective fractional CFO?

Think about it. 

It’s literally in the name. Fractional CFO. You get the same level of expertise at a fraction of the cost. When you need it — never when you don’t.

It’s a no-brainer.

What is a Fractional CFO?

A fractional CFO is a contract chief financial officer whose responsibilities can be broken up into bite-sized chunks that are much easier on your wallet. But don’t worry — they’re still plenty capable of handling your company’s finances. They just require less commitment than a traditional CFO while still driving the same meaningful results.

Why does this matter?

Long story short, a fractional CFO like myself can help take some of those heavy burdens off your shoulders without breaking the bank.

You’ll still maintain complete control over your business and its finances, but you’ll free up more time to focus on the thousand other things that come with running a business.

Still not convinced that hiring a fractional CFO is the right decision for your business? Let’s take a closer look!

Why Do Small Businesses Need a Fractional CFO?

When most people think of a Chief Financial Officer (CFO), they imagine a suited executive crunching numbers in a corner office. Nope! A fractional CFO is not a glorified bookkeeper. We don’t do funding, tax advising, or investments.

We are responsible for driving growth in your business. Need an example? As a fractional CFO myself, I:

  • provide financial guidance, budgeting, and planning,
  • oversee process improvement and development,
  • perform cash-to-order audits and cash flow forecasting

In other words, a CFO — fractional or otherwise — is essential for ensuring the long-term financial health of a business. While large companies can afford to have a full-time CFO on staff, small businesses often cannot.

What’s my point?

One of the main benefits of a fractional CFO is that they are a powerful and cost-effective asset for small businesses.

But, hey, we’re not stopping there. Here are the real benefits:

1. You Pay for Only the Services You Need When You Need Them

I keep rubbing this point — and for good reason: your business is your baby.

So, before you choose a business partner, ask yourself this question: would you let just anyone babysit your child? Of course not! You want someone responsible, reliable, and with your baby’s best interests at heart.

And just like when you leave your kiddo with the weekend sitter, you want to be confident that your business is in good hands when you’re not there.

That’s where the benefits of a fractional CFO come in.

A fractional chief financial officer will step in and provide the financial oversight and expertise that your business needs to thrive. And just like the best care your money can buy for your growing children, a good fractional CFO will be able to adapt to your unique business needs when and where you need them.

2. You Get the Unbiased Advice of a Seasoned Professional

When you hire a fractional CFO like myself, you can get the best of both worlds: great advice without the bias or spending a ton of money.

This can be highly beneficial, especially if you’re a small business owner who doesn’t have the strong financial acumen or the budget to hire a full-time CFO.

Not only will you save some coin, but you’ll also get access to a wealth of knowledge and experience to help your business flourish.

The best part? My advice is guaranteed to be unbiased.

Let’s face it; business owners can often get attached to ideas and methods of operation.

One of the benefits of a fractional CFO is their fresh, objective, perspective and ability to highlight potential areas of improvement.

For example:

  • Are you trying to navigate your way through a rough revenue plateau?
  • Are you struggling (and maybe failing) to manage your cash flow forecast (do you even know what that is?)
  • Are you confident in navigating your financial statements?

You’re not alone. And as a fractional CFO, I can be just the help you need with the no-BS straight talk you may or may not be ready to hear.

3. You Can Focus on Your Core Business

Another major advantage of having me as your fractional CFO is that I’ll take on many of the day-to-day financial responsibilities so you can focus on… Well, everything else!

Keeping track of expenses, invoicing clients, and managing cash flow can be time-consuming — stressful and overwhelming. 

By outsourcing your financial responsibilities to a professional like me, you can free up your time to focus on what you’re good at — growing your business. So if you’re feeling overwhelmed by millions of other things on your plate, consider hiring I Heart EBITDA as your fractional CFO.

It just might be the best decision you ever make for your business.

If you’re ready to finally unburden your shoulders and meaningfully scale your business with financial confidence, fill out the form and I’ll set up a call!

With over 25 years of experience helping businesses grow, I am confident that I Heart EBITDA will be able to help you understand your finances so you can take the right next steps for your growing business and milk that cash cow!

Connect with me today to explore bringing on a fractional CFO for your business!

You're signed up!