Is it time to Onboard a CFO or COO?

Hiring a CFO or COO, on a full-time or fractional basis, is an important decision and milestone for small and medium-sized businesses.

In our experience, if you can relate to some of the issues listed below, you would greatly benefit from having a high-caliber CFO or COO by your side. On the other hand, we also know that it is often both unwarranted and cost prohibitive to go from having no CFO or COO in place to hiring one on a full-time basis. And herein lies the dilemma for many small and medium sized businesses.

Enter VGP’s fractional executive services – enabling you to retain a world-class CFO or COO on a part-time basis for a fraction of the cost, matching your needs and budget.

IT’S LONELY AT THE TOP: You lack an experienced business partner and “consiglieri” at your elbow who is objective, strategic and fact-based, yet passionate about growing the value of your company. There is a substantial gap in business experience and acumen between you and other members of your team

THERE ARE NOT ENOUGH HOURS IN THE DAY: You have no time to deal with important financial or operating tasks, which keep on being postponed or falling through the cracks…or worse still, such financial and operating tasks continuously crowd out your pivotal duties related to customer acquisition and products

3. No Strategy Insights Analysis From Finance

NO STRATEGY, INSIGHTS & ANALYSIS FROM FINANCE: Your finance function is limited to producing the monthly P&L and Balance Sheet. It provides no: strategic input, detailed profitability analysis of your products/services, a rolling cash flow forecast, benchmarking, Key Performance Indicators, etc. You feel like you are flying the proverbial airplane with no instrument panel

OLD WAYS: Your business operations have been run in the same way for several years, with no attention paid to process improvement, productivity increases and reengineering efforts

5. Cash Flow and Profitability Surprises 2

CASH FLOW AND PROFITABILITY “SURPRISES”: Your business is experiencing profitability or cash flow problems, is missing bank covenants or is underperforming the budget – and you are often surprised by it

THE PEOPLE PROBLEM: Employee morale and communication are suffering. Turnover is high and productivity is less than you expected. Accountability is also lacking. You don’t seem to have the right roles or people

7. 20 MM Company Stuck in the Body of a 4 MM Business

$20 MM COMPANY STUCK IN THE BODY OF A $4 MM BUSINESS: Your business is growing fast and requires more robust finance and operating functions to deal with the challenges and opportunities that come with such rapid growth. Increasingly, you feel like your company’s accelerated expansion is being restricted or held back by its own lack of infrastructure

TIME FOR A NEW APPROACH: You are looking to deploy a new major system at your company and would like to ensure both adherence to it and a smooth implementation process, whether it is a new managerial approach (EOS, Rockefeller, Agile) or technology platform (ERP, CRM, etc.)

SHORT-SIGHTED: You don’t have a long-term view of your business, including: (i) a 3 to 5-year strategic plan and financial forecast and (ii) a sense of the business value, currently and in the future

DEAL MAKING: You are looking to raise capital to fund growth or acquisition opportunities and reach your ambitious goals. Or you plan to sell in the short to medium-term and have not prepared your company for it

To learn more about how Venture Growth Partners can help you turbocharge your business through our fractional CFO and COO services and our capital raise and M&A advisory services, please schedule a free consultation by filling out the form below.