3 Critical Signs Your Business Needs a Fractional CFO

A man in a suit sits at an outdoor table with a laptop and a coffee cup, resting his head in one hand, looking frustrated.

It’s easy to get excited about opening a new business and working for yourself. But it’s even easier to neglect and get overwhelmed by our finances. Look, if your clients and customers are the blood of your business, a strong financial strategy is the beating heart of your business. 

You shouldn’t neglect your body and you shouldn’t neglect your finances.

As any doctor might tell you, a stronger heart leads to a healthier and longer life. So, it’s crucial to understand what the silent killers are for your business — those sneaky symptoms that go unnoticed for far too long.

A fractional CFO like me can diagnose what’s hurting your business and identify issues you aren’t even aware of.

I’ve Heard of a CFO, But What is a Fractional CFO?

A fractional chief financial officer is the same as any other CFO but at a fraction of the cost. We handle your forecasting, planning, and even refine your operational expenses. 

But with me? I will simplify your finances for a better translation. I empower you to understand them in a way that resonates so you can make more informed decisions for a healthier business. 

Why Your Business Needs Me, a Fractional CFO

More often than not, business owners go to market with a product or service they believe in. They burn nights deciding on a name, wrestle with their website, and pour hours into staying competitive in the market. 

But the finances? 

Yeah, most people approach their finances like their in-laws — at a distance and only when required to keep up appearances.

Then, the silent killers that eat away at their bottom line start creeping in — they’re working and selling, but the money isn’t rolling in. And before they know it, they’re scrambling to figure out what’s going wrong. Business owners get lost in a maze of messy numbers, they start bleeding money, and they can’t figure out where the most meaningful moves are. 

And then it dawns on them, “I need I Heart EBITDA.”

Ok, well, maybe they don’t think that immediately, but they should!

They realize, often when it’s nearly too late, that they need an actionable financial strategy to get them back on track. I’ve seen it too often, and I want you to be better prepared than they were. I want you to be aware of the symptoms of impending doom.

So here are three critical signs your business needs a fractional CFO:

You Just Started a Business and Have No Idea How to Manage Your Finances

Yup. We’re talking about the beginning. It’s a whole lot more expensive to come in and fix things than to start you down the right path — and I’m not talking about paying for my services. 

When you don’t start off on the right foot with a solid financial plan, your business can veer way off course. Suddenly what looked like an endless sea and beautiful weather has left your ship stranded. You’re stuck in the shallow waters of poor strategy and vulnerable to the storms of poor cash flow.

Not an ideal place to be. 

You need a Fractional CFO like me to come in early to explain your finances in a meaningful way and help you chart a course that’s not only safe but brings you into lucrative waters. Who doesn’t love early success?

It Looks Like You’re Making Money, But You Don’t Have Any Cash

This is where a lot of people are with their businesses. The sales might be increasing but the extra money never seems to hit their accounts. They sit there scratching their heads wondering where it’s all going.

If it looks like you’re making money, but the cash just isn’t in your pocket, you need a deep audit of your finances — namely, your operation expenses, cost of goods sold, or your order to cash cycle.

Neglecting these optimizations is like flushing your time and money down the drain every morning. You’re stripping your business of precious resources and possibly overburdening it with unnecessary and expensive overhead. 

I can help you trim the fat and keep your business lean and financially healthy. 

You’re Not Making Money and Profits Are Slowly Sinking

The nightmare scenario. The financial health of your business is spiraling, profits are dropping, and you’re barely breaking even. Bad planning and weak strategy lead to poorly managed cash flow and a bottom line that bleeds.

You never want to be in this position. 

Luckily, a brutal and honest look at your finances and a thorough cash flow audit can help diagnose what’s killing your business. It will help bring it back from the brink of death.

Don’t Wait to Hire a Fractional CFO Until it’s Too Late

As a business owner, you have three choices when it comes to the health of your business and its financial well-being. 

  1. You can wing it and go off your gut until the symptoms are so severe you can’t avoid them anymore;
  2. You may choose to handle everything and dive into the numbers and audit everything yourself in spite of a lack of real experience or training; 
  3. Or, you can connect with me and get the unbiased and actionable advice your business needs to live its best life.

Connect with me today and we’ll diagnose even the sneakiest symptoms threatening your business and together we’ll map out a plan for a healthier financial future.

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