Virtual CFO Services for Small Business

When is The Right Time to Hire Virtual CFO?

This is a question many small businesses want to know. The answer is every business is big enough to need a CFO. 

A Chief Financial Officer (CFO) is responsible for planning, implementing, and managing a company’s financial activities.  While the CFO may not be involved in every single financial decision, the CFO is responsible for budgets, economic forecasts, and business planning. 

Suppose you are a business owner and you cannot identify the employee you would designate as your company’s CFO. In that case, you have probably been performing those functions.  Someone is.  You cannot be in business without making those financial decisions.  Are you qualified for that role?

The harsh reality is that it takes more than being good at what you do to be a successful business owner.   People say that successful business owners need to wear many different hats.  In other words, you have to be good at everything.  No matter what goods or services you are selling, you must be a business expert. That sounds exhausting.  It is exhausting.

Fortunately, it is also an outdated way of looking at entrepreneurship. 

If you want a financially successful company, you need a successful CFO.

Does that mean you need the formal titles and an executive board?  No. 

Do you need to become a financial wizard so you can handle the CFO duties?  Also, no.

What it does mean is that you need qualified people handling your company’s finances.   Virtual CFOs can fill that need.

What Is a Virtual CFO?

That is a good question.  There is no industry standard definition of the term.  In addition to virtual CFOs, you may see the terms business coach or business advisor.   What do they do? 

Virtual CFOs should perform all of the roles and duties of a standard CFO for your organization.  They should help plan and implement short-term and long-term financial strategies. They should promote growth.

Almost anyone can call themselves a virtual CFO.  The problem is that nearly anyone does.  When you look for a virtual CFO, it can be challenging to determine whether a firm is qualified to help you succeed.

Who Is Stander & Company?

We are qualified to help you.  Not just self-labeled business coaches, we are accountants who understand money.  We know how to make it.  We know how to manage it.  We know how to protect it. 

There is a reason that CPAs are the gold standard for business guidance around the world.  CPAs have specialized training to understand the impact of financial decisions.  That lets us help you determine the best decisions today and the best decisions for five years from now. 

Stander & Company will help you clarify your vision, establish goals, and create accountability.  We will help you experience real improvement in your business.  We understand that does not always mean increasing your bottom line.

Are You Looking to Grow Your Business?

For new business owners, the focus is usually on increasing profits. We can help you reach that goal.  We work with you to provide:

    • Monthly Financial Consulting
    • Cash Flow Improvement

Using that information, we help you with:

    • Strategy Development
    • Mission & Vision Statement Development
    • Tax Strategy Development
    • Banking & Financing Strategy
CFO Services are provided to entrepreneurs

Growth Is Not the Only Business Goal

We also help with other business goals.  Do you want to know how to create a better work/life balance? Are you looking at passing down a family business to younger generations?  We can help with those transitions.

Services we provide include:

  • Transactions
    • Succession Planning / Generational Transactions
  • Mergers & Acquisitions
    • Create a business ready to sell.
    • Find the right business to acquire.

Go Beyond Taxes

Many business financial advisors focus solely on taxes.  Minimizing your tax liability is excellent, but your CFO should be doing more.  Your CFO needs to help you develop a strategy to support your vision of your company.

What Is Your Five-Year Strategy?

You may know where you want to be in five years.  Do you know how to get there?  Knowing how to get there is the difference between a successful entrepreneur and a failed business.  We can help you draw that roadmap. 

Do You Need a Virtual CFO?

Businesses choose Virtual CFO services for different reasons. 

  • Your business is growing fast, but you don’t need a CFO full-time
  • You had a CFO, but it is time for a change
  • The person acting as your CFO is not qualified for the job
  • Your CFO is retiring
  • You want to explore growth strategies without hiring a full-time CFO

Our Virtual CFO works with your existing team to help achieve your vision and strategy.

Stander & Company provides CFO consulting to entrepreneurs

Save Money

The biggest concerns companies have about hiring a CFO are related to cost.  Can the company support the cost of a CFO?  Can the company afford not to have a qualified CFO? 

The tension is real.  Businesses need the guidance of a good CFO to grow.  Small businesses often lack the budget to hire an in-house CFO. Virtual CFOs are a fantastic option for budget-conscious entrepreneurs and small businesses. 

Virtual CFOs let you skip the hefty salary, benefits, vacations, & other expenses of a full-time CFO.  You still get all of the benefits of a full-time CFO.  We call that a win-win.

How Much Does It Cost?

That depends on the size of your business. 

The Virtual CFO pricing starts at $1,000 per week and includes options such as the following:

  • Weekly Meetings
  • Forecasting
  • Budgeting
  • Banking Relationship Management
  • Financing Strategy
  • Company-Wide KPIs
  • More items available

Part of being financially responsible for your business means being upfront about pricing.  We consult with each company to assess your needs.  Pricing reflects the size of your business, growth goals, and the challenges you face. 

Is Stander & Company LLC Right for Your Business?

That is a great question.  We are not suitable for everyone.  We encourage you to be wary of any virtual CFO service that says it is.  You need to have a great working relationship with your CFO.  That is true whether you have an in-house CFO or use a virtual service.  Your CFO needs to be committed to helping you achieve your goals.  Your CFO also has to feel comfortable challenging you when you want to implement bad strategies.  It can be a difficult balance to achieve.

We focus on personal relationships.  That is why we always start with a consultation.  We decide if we can help you achieve your goals.  You choose if you want our help.  Contact us today, and we can get started.