What is a fractional CFO?

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What is a fractional CFO? Someone told me recently that it sounds like rocket science. It’s not, but I can help you make your profits blast off! So what is it? First of all, it’s fractional, which means part-time. I work with a few small businesses part-time. Second of all, I act as their Chief Financial Officer. This is a much more cost-effective way for small businesses to get financial and strategic leadership without the price tag of a full-time CFO. So what do I do? I can help with very specific challenges, such as if you have cash flow issues, if your profit margins aren’t what you’d like them to be or if you think sometime in the future you might want to sell your business and you want to make sure that it’s healthy, your books are clean, your processes are bulletproof, so you can get the maximum value for your business. Second of all, I help you see the future. I help businesses with future visibility into what their financials look could look like, what kinds of things that they might want to do to help make their businesses healthier in the future. I work a lot with CPAs. CPAs are wonderful. They’re very focused on what happened last month, last quarter, last year and I think I’m the other side of that coin thinking about what’s happening next month, next quarter next year. And finally, I love working with growing businesses if you have a new product or a new service or a new line of business that you’re launching, that this is a great place to engage a financial professional to make sure that it’s going to be as profitable as you want it to be. I also work with a lot of businesses that are growing and hiring and helping them figure out what is the best timing for their hiring or timing for their growth, for their increased space or whatever they need. And finally, if you need financing for your growth, I can help you with that. So these are some of the things that I do next week. I’m going to talk about why I do what I do and why I love it so much. So please subscribe to my YouTube channel. I’ll put the link down below (https://www.youtube.com/c/GrowthcastCash) so that you can catch that video next week. This is Judi Otton and with GrowthCast and I’ll be back next week with your Fiscal Fitness Tip of the Week.