What is a CFO and what does one do? The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions.
A CFO does three main things - regardless if they're the CFO of a multi-billion dollar business or small business:
1. They track revenue, profit and cash flow 2. They analyze the businesses’ financial strengths & weaknesses 3. And, most importantly, they propose corrective actions
That short list is great, but more specifically will a CFO do for me? In short - we will ask a lot of questions and help you set targets for Sales, Revenue, Expenses, Profit, Cashflow, and paying yourself first! Then, each month we will analyze the underlying data, give you a score for each driver on the scoreboard, and give you 1-2 simple action items to work on during the month to meet your targets.
How can I afford a CFO? It seems like I barely scrape by. This seems like it is a catch-22. However, we strongly believe that you are exactly the business that needs a CFO. We will make sure that you are spending your time, effort, and money in the right areas to bring back the best return to you and your business. You will sleep better and have less stress knowing you are doing the right things each month to run your business.
How many clients do you work with? To best serve our clients, we only work with up to a dozen. This allows us to focus 100% on you and your business. Your CPA or bookkeeper has dozens or most likely hundreds of clients. They are great at what they do and we partner with them to service you. However, with how many clients they serve, they simply cannot focus on your strategy and give you action items each month. I'm sure they wish they could, but that's what we are here for.
What is the difference between a CFO and a Business Coach? A CFO provides guidance and leadership like a Business Coach, but shows the return of value on the investment in the changes through the data and metrics.
How much do you charge? Do you charge hourly? As mentioned in other places in our website - accountants provide a commodity and we provide value. Therefore, accountants charge by the hour and we charge by the service.
We charge a flat monthly fee. This covers all our services, analyses, meetings, calls, midnight emails, strategies, and action items. This way, you are never wondering if this month the "hourly billings" are going to be higher or lower. It is set and steady.
Our fees range from $595 to $1,495, depending on the complexity of your business. We will always first provide a free financial assessment of your business, so we can easily tell you where you would fit in that range.