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She Means Profit

The She Means Profit Podcast is devoted to helping entrepreneurs master their finances and launch, grow, and scale their businesses. Simple, digestible, actionable advice from Melissa Houston, an accredited CPA with over 20 years of experience. Real business owners, real talk, real solutions.

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What Is A Fractional CFO And How Can You Hire One?

January 10, 2022 • Melissa Houston • Episode 83

“CFOs are essential to business, as they support the CEO with strategic financial planning so the CEO can create the most profitable business possible.”

— Melissa Houston

Happy New Year! In this solo episode of the Business Society Podcast, I want to talk about a new business trend that I think is especially useful for small to medium-sized business owners.

Have you heard of the “fractional C-suite”?

Hiring for a fractional C-suite position allows you to benefit from the knowledge and experience of a C-level expert... on a part-time basis and through a package tailored to your needs! This cost-effective solution is absolutely ideal for businesses that are not at the point of needing (or able to afford) a full-time C-suite executive.

From monthly variance analysis to project accounting to cash flow management, this episode lays out the key services provided by a fractional CFO — with some bonus tips for boosting your profitability!

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

Why hiring a fractional CFO is an ingenious solution for many businesses
What a fractional CFO will offer you that a bookkeeper and accountant will not
How a monthly variance analysis will help you track your progress and identify areas of concern

Highlights:‌

01:06 Welcome to 2022!

02:27 The fractional C-suite

03:55 What is a fractional CFO?

04:55 How will a fractional CFO help you?

07:39 Monthly variance analysis

08:27 Key performance indicators

09:00 Cash flow management & stakeholders

10:14 Project accounting

11:20 Financial guidance & support

12:24 What to look for in a fractional CFO

15:16 Recap