A virtual CFO is the fiscal solution to companies who need financial expertise. There’s a reason why they’re considered the future of accounting. You can have a solid brand identity and creative marketing strategies. But without expert financial intelligence, your company can never cross the finish line.
A virtual CFO performs all of the expected services of a CFO. This includes bookkeeping, financial planning and reporting, risk management, etc. However, they perform all of these duties off-site and usually on a part-time basis. Ultimately, this makes them an intelligent and risk-free investment in your company.
So how do you know if it’s time for you to call on the expertise of a virtual CFO? Below, we’ve gathered the four signs it’s time for you to hire a virtual CFO.
1. You’re Having Trouble Getting the Right Answers
When it comes to your business, you should never find it difficult to get clear and coherent answers. Basically, if a specific financial matter is unclear, that’s a big problem.
Many small business rely solely on QuickBooks for their bookkeeping needs. Truthfully, it’s a great solution for startup companies with very limited capital. It can be a wonderful tool in the beginning to manage data. However, it also has very specific (and significant) limits.
With QuickBooks (or any software), it becomes very difficult to get meaningful data from it as your business grows. It’s impossible to personally interact with QuickBooks in order to get specific answers. Once your business begins to grow in complexity, a virtual CFO becomes your only solution to fixing this issue. They can analyze data and provide you with clear, coherent answers to your questions.
2. You’re Having Problems With Cash Flow
This is the #1 issue with startups and small businesses. Admittedly, many business owners have sharp instincts for when their cash balances will increase or decrease. However, they can’t seem to track their cash on a regular, stable basis.
A virtual CFO has the ability to provide your company with stability when it comes to cash flow. With their inherent fiscal wisdom, they’ll arm you with the ability to make more educated and confident decisions.
3. You Need A Solid Financial Blueprint
No one can argue that planning is always best. This isn’t just true for businesses, but for virtually anything. Obviously, the companies that have a clear, thought-out plan are much more likely to succeed. Sloppy bookkeeping is unacceptable; period.
Do you find that you’re having trouble coming up with a solid financial blueprint? Many business owners report that they simply don’t have the time to make a plan. In this case, a virtual CFO can step in and come up with an educated strategy for you to follow.
4. You Need More Time For Other Things
So many business owners spend too much time toiling among their financial data and getting nothing out of it. Obviously, this can lead you to feel frustrated and overwhelmed. You find yourself spending valuable time trying to handle your books when you should be doing many other things. This can lead to procrastination with matters that really need your attention.
Naturally, a virtual CFO is the perfect remedy to this problem. They can step in with remote bookkeeping expertise and relieve a significant chunk of your time. This way, you can liberate your schedule and dedicate your time to more productive endeavors.
Tangible CFO Program
| Proactive Strategy Advice | |
| Help and organization on raising money | |
| Financial assistance on business plans | |
| Email access during business hours with a 24-48 hour response time | |
| Quarterly 1 Day Fly-in or Virtual Strategic Planning Meeting (client flies into JFK) | |
| BONUS: Unlimited Voxer access during business hours with paid in full | |
| BONUS: First 90 Days of Weekly Calls | |
| …And much more | |
A Virtual CFO:
An Offsite Bookkeeping Extraordinaire
Growing your company is a rich and rewarding experience. As most business owners know, it’s a process that demands compromise, sacrifice and very hard work. Watching your business grow and take on new clients can be unbelievably satisfying. However, it also usually comes with some growing pains.
Usually, these growing pains can seem insurmountable at first. You find that you’ve never been busier. However, you don’t seem to be meeting your financial goals. This is when a virtual CFO, or remote bookkeeping services, can enter the picture to bring you where you need to be.
MM Accounting & CFO Solutions
The truth of the matter is, there are countless reasons for you to hire a virtual CFO. As business itself evolves, virtual CFOs are a futuristic and convenient solution to problems that have always plagued smaller companies.
