Virtual CFO Services

Not every business can afford to hire a full C-suite to manage everyday affairs. But just because you can’t hire those people doesn’t mean the jobs they do go away.

Many business owners try to manage these things themselves, often changing course completely as problems arise. These sudden strategic shifts can wreak havoc on your employees, your customers, and your bottom line.

Most business owners can’t do it all, nor should they be expected to. If you’re spending all your time trying to teach yourself every administrative task that arises, you won’t have time to plan from the big picture. Hiring fractional and virtual C-suite consultants is a cost-effective alternative to hiring C-suite executives at a six figure salary.

In addition to cost savings, fractional and virtual CFOs have experience that most CFOs don’t. Because they work with several business clients at once, they are more attuned to common problems and solutions as well as structural shifts in economic conditions.

Every business has unique needs, but the same goals: to generate revenues by serving customers. There are many paths to revenue growth and choosing among them can be a challenge. A virtual CFO is a great resource for business strategy that can be wherever you are. If you find yourself in any of these situations, you may want to hire a virtual CFO:

• You’ve hit a growth plateau and no sales strategy is helping you expand
• Your office is remote, hybrid, or in multiple locations
• You base your financial and sales strategy on things you read from the internet
• There doesn’t seem to be any consistency in your cash flow from month to month
• The need for financial planning is getting in the way of focusing on things like new product offerings and building your brand
• Your inconsistent means of financial tracking or relying on your gut is no longer cutting it
• You need a clear picture of what business will look like in the future

A virtual CFO is there wherever you are to serve all your financial planning needs. If your business is struggling with managing finances, assessing business health, or projecting future growth, you need the services of a CFO. With virtual CFO services, any business can afford sound financial advice from a trained professional.

A virtual CFO can be wherever you are to handle your financial problems for you. Every business needs CFO services in some form or another in order to chart a path for future success. Hiring a dedicated CFO ensures that these needs are taken care of so you can focus on the work you love. With a virtual CFO, you get all these services at a fraction of the price of a traditional CFO. Services include:

• Establishing financial processes to produce accurate, useful and timely financial data for improved decision making
• Analyzing key performance indicators and profit points to identify opportunities for growth
• Creating financial models to forecast likely outcomes and present you with alternatives for growth
• Modelling new sales strategies and product offerings to draw in reliable income streams

Your virtual CFO will meet with you regularly to provide you new insights and plan for the future. If you find yourself struggling with financial management or developing new sales strategies, a virtual CFO can close the gap.

The biggest advantage of a virtual CFO over a traditional CFO is the cost savings. A virtual CFO costs a fraction of what a traditional CFO would typically demand for a full time salary. While you may be paying well into six figures for a traditional CFO, a virtual CFO rates only run your business a few thousand a month.

At Michigan CFO Associates, we use a flexible fixed pricing model. You pay a flat rate for a given amount of contact time with your CFO that you can adjust as necessary. Our virtual CFOs are priced at four levels depending on your business’s CFO service needs.