Fractional CFO's Bring Clarity To Your Business

June 24, 2019

 

There’s a reason we call ourselves Clarity Consulting. The fact is, entrepreneurs have a lot to do, and ultimately their job is to grow their business. They’re engrossed in trying to optimize the product, nurture the employees, and oversee the daily operations and often times, they don’t even take a second to look at the numbers. 

 

But in business, numbers are everything. Numbers don’t lie and are a huge indicator of how your business is actually doing. 

 

The good news is hiring a fractional CFO and having them dive deep into your numbers can give you clarity on how your business is really doing.

 

Fractional CFO's Bring Clarity To Your Numbers

 

Knowing your numbers is everything. When it comes to setting goals and making decisions for your business, you need intricate financial information to inform those decisions.

 

First and foremost, a fractional CFO is going to want to know what is going on with your business. They will want to establish a relationship with the owner and know what is troubling to him or her, but they will also want to know what opportunities the owner sees for growth. To keep your business on track, a fractional CFO will need to know the key issues your company is facing financially.

 

Clarity Consulting is able to take data and use it to see exactly where your business stands. They look at your budget, your sales, your revenue, and will be able to tell you exactly where you’re starting from. An in depth analysis of your numbers will reveal if anything in your business is weighing it down. It will also determine what factors are contributing to the bottom line and significantly driving profitability. Knowing your numbers is ultimately what determines the health of your business, and knowing your numbers can help you make some solid business decisions. Knowing your numbers is the foundation of any business, no matter what the industry is.

 

 

Fractional CFO’s Provide A Map

 

Not only can Clarity Consulting look at your financials and tell you where you are, we can also use them as a guide to help your business with financial growth!

 

A fractional CFO is able to take your data and use it to make predictions for your business. As they review your monthly budget, sales, and revenue, they’re able to see if there are any cliffs up ahead and make adjustments accordingly. 

 

Entrepreneurs often struggle to step outside of their business. They work in their business instead of working on their business, but Clarity Consulting is able to zoom out, look at the bigger picture and tell you where your best chance for success is—what your strongest month is, what your strongest product is, thus helping you perpetuate tough financial calls. This frees up a ton of head space for you so you can focus on growth and forward moving activity.

 

Not only can outsourced CFO’s take ownership of your numbers, they also clear up the ambiguity that your financials can be. A fractional CFO uses numbers and data to communicate the vision and performance, helping an entrepreneur and the employees sharply comprehend how your roles specifically contributes to success. This keeps employees aligned and working for a common purpose. It will also help you establish key metrics. For example, fractional CFO’s can assess which products gross the most amount of revenue, acquire more customers and increase your profit margins.

 

 

Ultimately, a fractional CFO drives growth and handles complex situations while controlling costs. Aside from reporting on financial performance, the fractional CFO can translate financial strategies into business strategies, showing you where to go from here.

 

 

Fractional CFO's Clarify Goals

 

Every entrepreneur wants to grow their business. But what is the best way to grow the business?

 

There are plenty of ways to grow a business. 

 

You could launch a new product, or even a new product line. 

 

You could generate more traffic to your website. 

 

You could aim to increase revenue through making more sales.

 

You could aim to reduce the customer churn rate.

 

You could bring on new talent.

 

Are you overwhelmed yet?

 

With the map a fractional CFO can provide, they’re able to tell you where your best opportunities lay. For example, maybe you don’t need to create a new product since your current one is selling like crazy. Maybe you need to focus on what works and instead generate more traffic to your website through advertising. 

 

From there, a fractional cfo will be able to tell you what to specifically work toward. “Generate x amount of customers to your website for x amount of sales, thereby insuring your company reaches x amount of revenue.”

 

Another example, instead of setting a goal of increasing sales, try specifying it with, “Sell 25 units every month for the next three months”, for example.

 

According to Quora, "a part-time Chіеf Fіnаnсіаl Officer еnѕurеѕ that уоur organization іѕ ѕеt up fоr a рrоfіtаblе futurе."

 

There’s plenty of ways to grow your business. The more specific you are, the better motivated you’ll be to achieving your goal. Your employees will be more motivated as well. 

 

Your CFO will help you identify what an appropriate specific goal is. A well-thought out figure will help bring clarity on your goals and motivate you and your team.

 

 

 

Conclusion

 

Clarity Consulting 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.

 

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

 

HR

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.

 

Insurance

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.

 

Taxes

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

 

 

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