How Far can an Outsourced CFO Drive Your Business?

“Talent wins games, but teamwork and intelligence win championships” (Michael Jordan)

It’s safe to say that the majority of business owners and operators are entrepreneurial in nature. They are passionate about their business, their customers and their growth trajectory, whilst being a dynamic, focused, motivated and forward-thinking group.

However, for all of their positive traits, how many truly possess the necessary accounting, financial and forecasting skills needed to ensure that their business continues to thrive? How many can say, without a doubt, that their business is financially healthy and primed for future growth and industry domination?

One brief look at the statistics surrounding businesses can answer these questions. Did you know that over 60% of small businesses cease operating within their first three years?

Did you also know the main reasons for business failure are:

  • poor strategic management
  • inadequate cash flow
  • high cash use
  • large trading losses
  • insufficient capital and last but not least
  • a lack of training across the financial and accounting spectrums (which we can safely say relates to all the other reasons!)

What can help prevent business failure and prime a business for future success?

The answer is an outsourced Chief Financial Officer (CFO).

What is an Outsourced CFO?

“No individual can win a game by himself” (Pele)

An outsourced CFO is the ideal business investment for entities that not only want to survive, but thrive, in today’s commercial environment.

Whilst most businesses need financial guidance, many cannot afford an in-house finance head. And that’s where an outsourced CFO can step in.

An outsourced CFO works with a business on a part-time basis for a fraction of the cost of a full-time CFO. Essentially, an outsourced CFO operates as the financial advisor to your business, acting as a sounding board who provides financial acumen when you need it, to help ensure the health and wellbeing of the business.

If you’re a business owner, with an outsourced CFO you can take advantage of a superior level of service and expertise that may otherwise not be affordable or possible if you had to hire a CFO as a full-time team member.

They work with your in-house bookkeeper, accountant, operations manager, senior management and selected team members to ensure that your business experiences improved profit and cash flow control, accelerated business growth and an overall financial position that is healthy and on-track.

What does a Virtual CFO do?

“The strength of the team is each individual member. The strength of each member is the team” (Phil Jackson)

An outsourced CFO can provide you with a wide spectrum of services that fall across the accounting and financial arena to help ensure your business’s financial health and ongoing stability. This includes, but is not limited to the following:

  • Regular guidance, support and advice
  • Specific project management including strategic planning, profitability improvement, exit and succession planning, performance analysis and KPI setting, capital raising, mergers, acquisitions and takeovers
  • Risk and opportunity assessment, growth plans, future focused modelling and analysis, systems assessment and development
  • Financial Management of all sorts including cash flow, reporting, support and more

What type of business benefits from a Virtual CFO?

“Strategy is not a solo sport, even if you’re the CEO” (Max McKeown)

All businesses can reap the benefits from this level of expertise, including those wanting to leverage the support without incurring the cost of a fulltime CFO.

An outsourced CFO provides accounting/finance management expertise to enable you to focus on your core purpose. You can then leave all the ‘number’ stuff to someone who can deliver the best results with the maximum efficiency.

Further to this, if you have ever felt frustrated that the numbers and financial terminology does not connect with you, the great news is that an outsourced CFO will digest the data, analyse it, simplify it and speak your language, delivering information which will empower you to make better decisions for your business.

Are you ready to take the next step forward to your business evolution and expansion? Are you ready for the competitive advantage that improved profit, better cash flow and more business efficiency that an outsourced CFO can bring to your business?

If you want to find out more about what an outsourced CFO can do for your business growth, contact us today on or email

Sources (linked above):