Virtual CFO Services for Small Businesses
As your small business grows, so does the need for structured financial planning, tracking cash flow, and developing sustainable expansion strategies. If business growth is occurring at a rate faster than you can handle, you may not have the internal resources to keep up with the demand. Or the financial resources to hire a full-time Chief Financial Officer (CFO).
An experienced virtual or remote CFO can step in and handle the financial side of things so you can continue to scale – for a fraction of the cost of hiring a full-time professional.
How Do You Know If You Need a CFO?
Entrepreneurs get ahead of themselves by expanding their team, product line or customer acquisition strategy before they have a solid foundation in place. I work with successful businesses to identify and address the issues they need to tackle in order to be grow proactively, not reactively. Common issues for evolving businesses include:
- Your business is experiencing numerous changes simultaneously, such as expanding into new markets or launching multiple new products.
- You have stopped developing new ideas to stimulate business growth and/or are turning away business.
- You are spending as much as 70% of your time on finance/accounting tasks instead of developing products/services, winning new business, or servicing customers.
- Your operations have become more complex and your financial processes need to be upgraded as a result.
The Benefits of Working with a Virtual CFO
Hiring a virtual CFO allows you to set the terms that fit your business needs. Our working hours can be scaled up or down to meet shifting priorities and budgets. And whether you are a brick-and-mortar company, travel extensively, or operate on a fully remote basis, I can meet you whenever and wherever you are – without wasting time rearranging schedules or paying for travel.
Other benefits of working with me include:
Diverse industry experience.
With decades of experience in handling the financial needs of businesses of various sizes and at various stages of growth, I offer access to a broad range of knowledge, expertise, and insights. And give you the peace of mind of knowing I can handle any challenge.
Professional relationships.
I’ve spent years building and nurturing relationships with business and finance professionals that may be valuable connections when you are looking for additional resources, funding, or want to expand your products, services, or geographical territories.
Cost savings.
You only pay for the services you need and can avoid the added expenses associated with having a full-time CFO, such as benefits and incentives. You can invest the savings in growing your business.
Access to a Full Range of CFO Services
As your virtual CFO, I will hit the ground running to help you achieve your goals – from tackling cash flow challenges and elevating your financial strategy to preparing for a specific transaction or planning for long-term growth.
A former corporate CFO and a CPA, I bring 30+ years of experience developing and implementing successful financial strategies for companies large and small and in a variety of industries. This means I’ve been there, done that, and can address a full range of financial issues, including:
- Financial Projections & Reporting: Forecasting the business’ cash flow so you can make informed financial decisions, and producing financial reports that provide insights into the financial health of your business.
- Budget Planning & Management: Creating a budget for the business and implementing cost-saving measures as necessary.
- Reducing Outstanding Receivables: Putting a process in place for dealing with late payments and reducing your average accounts receivable days outstanding.
- Improving Cash Flow: Evaluating where the bottlenecks are and implementing strategies to keep cash flowing in and out of your business.
- Financial systems and processes implementation: Auditing your current processes and setting up integrated accounting software, bookkeeping, and payroll systems to improve efficiency and data accuracy.
Hiring the Business Doctor as your virtual CFO bridges the gap between flexibility cost-effectiveness, and high-quality professional expertise. Whether you are looking to optimize your financial strategy, maintain cash flow, or drive long-term growth, I can help you maximize profits and move steadily towards your goals.
ABOUT BETH DONALDS
Beth Donalds, MBA, CPA, is a veteran finance and operations professional whose practical approach to problem solving and putting fundamentals into practice has helped countless entrepreneurs and business owners translate their vision for success into a reality.
LET’S GET STARTED: 973-768-6785.
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