What Is A Fractional CFO And How Can You Hire One?

She Means Profit

Jan 10, 2022•17 min•Ep. 83

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Episode description

“CFOs are essential to business, as they support the CEO with strategic financial planning so the CEO can create the most profitable business possible.”

— Melissa Houston

Happy New Year! In this solo episode of the Business Society Podcast, I want to talk about a new business trend that I think is especially useful for small to medium-sized business owners.

Have you heard of the “fractional C-suite”?

Hiring for a fractional C-suite position allows you to benefit from the knowledge and experience of a C-level expert... on a part-time basis and through a package tailored to your needs! This cost-effective solution is absolutely ideal for businesses that are not at the point of needing (or able to afford) a full-time C-suite executive.

From monthly variance analysis to project accounting to cash flow management, this episode lays out the key services provided by a fractional CFO — with some bonus tips for boosting your profitability!

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

Why hiring a fractional CFO is an ingenious solution for many businesses
What a fractional CFO will offer you that a bookkeeper and accountant will not
How a monthly variance analysis will help you track your progress and identify areas of concern

Highlights:‌

01:06 Welcome to 2022!

02:27 The fractional C-suite

03:55 What is a fractional CFO?

04:55 How will a fractional CFO help you?

07:39 Monthly variance analysis

08:27 Key performance indicators

09:00 Cash flow management & stakeholders

10:14 Project accounting

11:20 Financial guidance & support

12:24 What to look for in a fractional CFO

15:16 Recap