What is a Fractional CFO? Why It Makes Financial Sense to Hire a Temporary CFO to Work Along Side You
Finding the gaps in your business can help raise its value.
Fractional Executive, Fractional Business Leader, Fractional CFO, Fractional COO, Fractional CEO, Fractional Consultant…
And then there's all the "outsourced executives" — outsourced CFO, outsourced COO, outsourced CEO. Not to mention all the "interim executives". I think you get the idea.
These titles get thrown around a lot, sometimes interchangeably — but what do they really mean? How do you know whether you need to hire someone on a fractional basis? And more importantly, how do you find the right person who is going to help you reach your business goals?
Hiring a C-Level or Executive Level professional on a fractional, or temporary basis, is a growing trend in today's business landscape. These professionals differ from consultants who are typically hired for a short-term project. And while fractional executives do work on an "interim" basis, they are different from, let's say an Interim CFO — instead of working full-time for a short period, they work for longer periods of time on a part-time basis and usually with broader focus.
It's about becoming part of the team to help a company or business uncover the root cause of the issues they are facing and providing solutions to both improve their current situation and prepare them for future trends in the marketplace. With fractional leadership, you get the benefit of someone with extensive experience and expertise, without the costs associated with hiring a full-time employee.
Related: Benefits of Outsourced CFO Services
I am going to be honest with you, I struggled with what "title" best suited the services I offer. I could go by the title Fractional CFO (and can serve in this capacity), but because my experience and expertise is much broader the name just doesn't cover all I do.
With experience as President, Business Advisor and CFO, it is difficult to define the role a financial advisor will play with just one title. I came up with “Fractional CFO Plus” because every business can use another set of eyes on financial matters and you get more. You get executive leadership as well.
Then I realized, let's stop focusing on the "title" because, after all it's just a name, and instead let's put the focus on what really matters — what I DO, which goes beyond the role of just a temporary, outsourced CFO. I am a fractional business leader who brings executive management and financial background to assist business owners in correcting today’s issues while preparing for tomorrow.
We prepare for tomorrow by enacting gradual changes to the business model with the goal of staying relevant to the market.
What is a Fractional Executive Pro Tem?
Pro tem is Latin, short for pro tempore meaning "for the time being"; and in our case, it means I will work with your company for as long as you need me. I work with companies from the inside, as compared to many consultants who provide services from the outside. I get to know the people and the real issues a company is facing — which is more effective for long-lasting change.
By implementing established management tools, my goal is to give businesses a solid foundation that will both help them reach their long-term goals and put them in a position to adapt to changes.
As a Fractional Business Leader, I provide an experienced and knowledgeable resource — without the cost of a full-time executive. I work alongside you, the business owner, to implement plans that we develop together from a strength and needs assessment.
You need someone who has been there — a person to work with you, who understands your role and issues, and who can become your trusted advisor. My CEO level experience and CFO/CPA background will help you move your company forward, not just in terms of providing immediate solutions but also preparing your business for the future.
Learn more about value that an outsourced CFO can bring to your business and why it's worth the investment.
Results in a Day!
Not ready for a long-term engagement but still need help with getting your business headed in the right direction? Then a one-day, strategic planning session with you and your staff is the way to go.
