Why Hire a Fractional CFO Plus, and Why Now?
Benefits of Outsourced CFO Services
Hiring a Fractional CFO Plus helps you get a better picture of today and tomorrow.
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Have you been wondering why you should hire a fractional executive or CFO? Does your business need some help to bring it to the next level, but you're not quite sure which direction to go?
Hiring a fractional business leader is not the right decision for every company. It’s both a financial investment and a time investment, but in the long run outsourced CFO and executive services cost less than hiring a full-time CFO. Let’s start with some questions to help you decide.
Do you find yourself asking…
These are some of the most common questions my clients ask, so you’re not alone (even though it’s likely you may feel that way).
Addressing issues like these takes time, and may require significant changes. Let’s get to the root cause of these issues by examining your business model, culture and existing talent. The business model is how a company goes about its work — what it sells, its target customers and how it fulfills the customer’s needs in a competitive market. All business models will become obsolete, so our first step is to understand whether you are running the business with an old business model.
Establishing a new culture and/or business model within a company, one that is adapted and embraced by everyone involved, won't happen overnight and there is likely be resistance along the way. One advantage of bringing in someone from the outside is that they can “bear the brunt” of the resistance, relieving some of the pressure off the business owner.
Let’s look at other options instead of outsourcing your CFO services:
Wait It Out — The Pain Isn't Great Enough...
Yet. The option of doing nothing is always present; just don’t wait until the business requires major surgery when preventive measures could have made the difference
Hope Someone Steps Up (or Anoint Someone)
I don’t know about you, but I prefer to see someone seeking greater responsibility and leading before I promote that person. If you have such a person, why hasn’t the promotion taken place?
contract with a short-Term consultant for a project
As long as you have defined the deliverable and considered the impact to other parts of the company, this may be the best path. It will likely cost more than a fractional business leader and result in forced change.
hire a full-time executive from the outside
This option is always there for you and you understand the risks and costs associated with it. Without a clear path, it will be a challenge to find the right person for your culture and your strategy.
Why does it make sense to use outsourced CFO services instead of choosing one of these other options?
Executive Pro Tem offers the best of both worlds — high levels of experience and expertise without the risk. As a fractional business leader, I am invested in your success and close enough to the action to provide guidance; but removed enough to avoid the company politics.
I offer an outside perspective with the skills to diagnose the internal roadblocks. My extensive strategic planning experience as a facilitator and graduate level instructor gives you the critical thinking skills needed to make solid decisions.
Who can benefit from a Fractional CFO Plus?
You, by adding a level of talent that you might not otherwise find or afford; someone to help you make better decisions and help you prepare for tomorrow.
Jack Stull, President
Jcrane, Inc | Covington, Ohio
I first met Dan Hackett in 2006. Our company was six years old at the time and we needed ‘big picture’ help. We needed help with our focus and vision. We needed someone to ask the hard questions.
What started with simple conversations between the two of us turned into multiple company-wide strategic planning sessions. Since that day 15 years ago Dan has helped us with every aspect of our organization.
From strategy to culture to operations to accounting to finance to safety to legal, to everything. His gentle influence and advice have been a significant reason for our growth and profitability over the years, we wouldn’t be where we are without him.
Ready to take your business to the next level?
Contact Dan for a no obligation consultation today!