4 Dilemmas Contract CFO Services Don't Sweat Over

September 3, 2018




We all know how crazy it is growing a business without contract CFO services. As a business owner, you may feel like most days you’re just holding on for dear life—just trying to keep you and your team afloat.


This isn’t necessarily because things are going horribly wrong. It can be quite the opposite actually.


Maybe business is booming and you’re just not sure how to handle it all. If you’re a young business, you may not have proper systems and processes in place to be able to scale growth.


A fractional CFO is the best investment you can make, and it is the most efficient way to fill a void in your business. 


Many young businesses would LOVE to be able to access the expertise of a CFO. By working with a CFO, you get experience early in your company which can help you establish better financial habits for greater sustainability and long-term success. 


Most people envision big corporations when they think of CFO’s, but it may actually be more crucial for a smaller company to have financial guidance as they have growth goals and dreams of going to the next level. A financial mistake for a small business is dire to its survival and sustainability, and truthfully, small businesses need the insight of a CFO more than an established company. 


As your business rapidly grows, you need to be able to make solid and informed decisions at the same pace and must be able to rely on data driven and timely information. 


However, Entrepreneur.com points out that rarely can they afford top-level financial talent or even have a need for someone full time.


A part time CFO is a trusty business partner you can bring on your team without all the overhead and stress of a full time employee.You can access years of experience and solid financial advice without providing a salary, health benefits, and a 401k.


Contract CFO services will help you focus on key financial elements, offer an outside perspective, and answer the most essential question, “Where is my cash going?”


If you’re a small business owner with a rapidly growing business getting caught up in the day-to-day operations with little or no time to consider how your finances are being used, it might be time to consider contract CFO services.


Is It Time For You To Consider Contract CFO Services?


Here are some dilemmas that your part time CFO won't freak out about and solve for you:


It Feels Like Your Spending Is Out Of Hand


While the saying of “You have to spend money to make money,” is true, your spending needs to be strategic. Strategic spending requires a financial analysis that most entrepreneurs don’t have time for. If you’re not sure which costs to cut or how to even make those cuts, then you need contract CFO services.


Contract CFO services can drive growth and handle complex situations while controlling costs.The fractional CFO can translate business strategy into financial strategies.


A part time CFO will eliminate unnecessary spending, and optimize your existing costs to keep you competitive in your market.


Having your cash flow analyzed can often be one of the most beneficial moves your company can in immediate financial impact. A part time CFO will want to establish a relationship with the owner and want to know what opportunities the owner sees for growth as. To keep your business on track, a fractional CFO will need to know the key issues your company is facing financially.


This enables your fractional CFO to implement business plans for the bigger picture of your company. Their ability to synergize strategy and finance empowers them to know what financial risks are best for your company. 


If you're looking for a financial partner with little overhead, set up your free consultation with Clarity Consulting today!


It’s Hard For You To Make Decisions


Is it easy for you to make financial or strategic decisions?  According to Preferred CFO, to make major business decisions to expedite your growth, you need intricate financial information to back it up. 


But this can be hard when you’re in the weeds of the daily grind of running a young business. Not many entrepreneurs have enough time in the day to get well acquainted with their numbers.


Thankfully, contract CFO services are great at clarifying the confusion that your financials can be. With this insight, they’re able to make assessments like, “It’s better when we sell this x product instead of y product, because when we sell x product, we get more customers and a higher profit margin.”


Ultimately, a part time CFO’s primary goal is to get to know your numbers for the purpose of your business engaging in a higher level of strategy for sustainable growth. In order to have a great strategy, you’ve got to be able to make informed, data-driven decisions.


There are Major Gaps in Your AP or AR

Are there notable gaps in your accounts payable or accounts receivable? Something within your process and system may need some assistance.There may be ineffective billing, collections, or payment processes. 


A part time CFO will consider the difference in the number of days of sales in the accounts receivable and accounts payable. With the help of a part time CFO from Clarity Consulting, your company will be able to narrow the gap between receivables and payables. Book your free Clarity Call today!


You Don’t Have a Long-Term Financial Strategy


This is the most crucial problem to solve in your business. You’ve got to have a plan to grow your company that is based on financial data!


A part-time CFO is pro at making educated financial projections based on your historical data, industry trends, and data from companies in a similar lifecycle stage. If you don’t have a long-term financial strategy for company growth, then a part time CFO can create a financial plan to grow your business.


A fractional CFO is able to take data and use it to project helpful predictions for your business. They look at your budget, your sales, your revenue, and thinking through every single month, they’re able to see if there is any danger up ahead.


If there is, a fractional CFO can zoom out, make adjustments, and tell you where your best chance for success is. They can look at your business and tell you what your strongest month is, what your strongest product is, and help you make tough financial calls. This frees up a ton of brain space for you and you can focus on growth and forward moving activity. 


If you’re needing someone to help you make sense of your financial data so that you can have a long term financial plan, set up a free consultation call with Clarity Consulting.



How Contract Services With Clarity Consulting Can Help


As you can see, contract CFO services is one of the greatest business secrets in the market place. A part time CFO can offer sage advice, guidance and financial reporting that can change the entire trajectory of any small business. When your business requires the duties and fulfillment of a CFO, look no further than Clarity Consulting.


Contract CFO services can open up a whole new world of operational efficiency. We know that seeing your numbers on a daily, weekly, monthly, quarterly rhythm alone can provide amazing opportunity for growth and profit in any business. Instead of ambiguous spreadsheets, we help create a clear picture of current financials and future projections.


If you aren't comfortable hiring a full time CFO, consider a part time CFO to help shoulder the burden.


Clarity Consulting's Happy Clients


Below are some stories from two of our clients:


"Before I started working with Clarity, I was stressed about money all the time. It was an emotional rollercoaster, and I never quite knew how we were doing as a company. Within three months, Becca and her team had helped me create a system that gave me visibility into our finances, confidence in what we were doing, and peace for the first time since I became an entrepreneur. It’s been a year since we started working with Cla


rity, and I’m not surprised that this was our best year yet with revenues increasing by X% and net profits up by Y%. I can’t recommend these guys enough.”

—Jeff Goins, bestselling author and entrepreneur


"Clarity has been an absolute game changer. Becca has brought an experience and knowledge into our business that has changed not only bottom line from red into black, but our team values. She does everything  a bookkeeper should, and bonus her clients with exceptional care! Clarity has been one of the best investments our company has made since day 1!" 

- Phil Sanders, Citizen Supply



Clarity Consulting Does More Than Just Numbers


As your fractional CFO, we bridge the communication gap between the owner and internal operations. Often times as businesses grow, teams grow into departments, communication breaks down, and your staff forgets what drives sales and growth. As your small business grows, your team will grow with it and begin to split into different divisions. Clarity uses numbers and data to communicate the vision and performance, helping your staff sharply comprehend how their role specifically contributes to success. This keeps your employees aligned and working for a common purpose.


We understand that internal operations cannot be siloed. When it comes to financial, human resources, insurance, legal, and operational strategy,one area affects the other, and when you don’t have one person who has a handle on all the areas, things fall through the cracks. We understand that all of these areas of business work hand in hand. In order to best handle a company's finances, we help in all of these areas. We are happy to give advice in all of these areas and work with you to make sure you receive a great product/service at a reasonable price.


Part time CFO services and Fractional CFO programs can open up a whole new world of operational efficiency. We know how to collect all the data from all areas of your business, interpret the data, and create a smooth operating system that brings business owners peace of mind.


In addition to the services mentioned, we also offer assistance in the following areas:



Once you’ve hired a new employee, Clarity Consulting is there to help with the onboarding process. We make sure they have filled out all their documents and get their direct deposit set up. If there is ever an address change throughout employment, Clarity Consulting changes it, freeing up the business owner to focus on growth.



For insurance support, we help companies with their annual General Liability and Worker’s Comp audits by gathering all the certificates throughout the year and sending the payroll report to your auditor.



For tax support, we communicate with your CPA and make sure your CPA strategy is being implemented throughout the entire year.


Contract CFOs Services Conclusion

Contract CFO services are the most efficient way to get your small business on the right track financially. If you're looking for help to grow your business, book your free Clarity Call with us today!

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