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Frequently Asked Questions
What does The CFO Service do?
The CFO Service will track the drivers of your revenue, profit, and cash flow to analyze the financial strengths and weaknesses of your business. We will create monthly forecasts and propose corrective actions when your business is not trending towards the goals we set together. We will also encourage the continuation of any actions propelling us towards those goals.
Why does my business need The CFO Service?
At their core, The CFO Service is a business strategist. Our primary goal is to assist fellow entrepreneurs in building more profitable businesses. We achieve that goal by monitoring the drivers of revenue, profit, and cash flow and prompting you to take the necessary remedial action when those drivers aren't moving in the right direction. By taking a proactive approach instead of a reactive approach, The CFO Service can help you avoid many of the common pitfalls that cause the majority of small businesses to fail within their first five years.
What else can The CFO Service provide?
Working with The CFO Service will provide other benefits to your business as well. For example, we can assist you with getting your numbers where they need to be in order to gain approval for a loan, or a larger loan than you may have otherwise secured. Bankers and commercial lenders love working with clients of The CFO Service because they know those businesses are actively tracking and working to improve their profit and cash flow. Simply put, clients of The CFO Service are considered a less risky venture.
What types of businesses does The CFO Service support?
The CFO Service can help businesses in any industry, retail- or service-based, to achieve success. Businesses that have been operating for 2 years or more and are turning at least $500K in annual revenue will be most likely to reap the benefits of a partnership with The CFO Service. That being said, we are more than willing to work with businesses of any size. Also, we have a soft spot in our heart for women-owned businesses. Supporting women entrepreneurs and helping them to achieve maximized success is one of the top goals of The CFO Service.
How much does The CFO Service charge?
The CFO Service charges a flat monthly fee for our services. The amount can vary from business to business depending on the complexity of your operations, but, bottom line, we're not going to charge you more than the money we can help you gain from a partnership with us. We are here to support you in growing a successful, profitable business, so we will be alongside you, cheering for your success! If we don't think your business is a good fit for our services, we'll point you in a direction better suited for your unique business needs. The last thing we want to do is waste an entrepreneur's valuable time.
What kind of timeline can I expect before my business starts seeing the benefits of working with The CFO Service?
Most of our clients see a noticeable change within the first few months of working with The CFO Service. Once we've worked together to define what your business goals are and set the targets that will indicate when those goals have been achieved, we can easily analyze your financial data to create a forecast of where your business will be at the close of the year. We can also provide you with theoretical "What if...?" statements to show you how simple it is to increase the revenue, profit, and cash flow of your business. To be fair, the responsibility will be on you, the business owner, to work throughout the month to implement the strategies outlined by The CFO Service to fully realize the rewards of our partnership. However, don't be concerned! We will never recommend a plan of action that's not easily achievable in a single month. Our clients are continually surprised at the effect a seemingly small change can have to the overall health of their businesses!
How do I get started?
Schedule a brief 30-minute meeting with The CFO Service to discuss the struggles your business is currently facing, the direction you're looking to go, and how we can help you get there. We look forward to partnering with you!