Fractional CFO Engagement
These clients have a need for financial stewardship and strategic advice, but are not at the scale where they need, or can afford, a full-time CFO. The size of these clients has ranged from pre-revenue to $35MM. These are ongoing engagements (no fixed time period) that have ranged from 4 to 24 hours a week.
My approach entails the following steps:
- Understanding the short- and long-term goals of the owner(s). There is typically an exit strategy discussion, which could include the desire to sell at a particular time or milestone. It may also include passing ownership to the next generation of the family-owned business.
- Meet with senior management (usually between two and six people) to discuss issues and ensure that company goals are aligned with the owner’s goals.
- Review all significant procedures to ensure they meet, or are brought up to, professional standards. This includes internal controls, compliance with legal and tax regulations, bank covenants, audits, regulatory reporting, etc.
- Meet with senior management to determine what changes in the finance and accounting area would benefit them in making business decisions.
- Examine and improve internal processes, focusing on how the accounting/finance department can add more value.
- Determine the appropriate staffing level to ensure that the department is running efficiently while meeting the needs of management.
Here’s what clients and peers have to say about my services:
Ron was instrumental in the launch of our company. He successfully guided us through fundraising from some of the top VC’s in the country . . . Continued
We hired Ron as an interim CFO and advisor.
At the time we thought we needed to get our books in order, vet our processes and introduce some improved procedures.
What we got was a revolution. . . Continued
Ron has been instrumental in the success of my business and he has guided my partner and I through all of our early stage obstacles. Ron’s financial expertise and ability to evaluate risk have allowed my partner and I to scale our business quickly. . . Continued
Ron has been outstanding in helping us to get our businesses organized and establishing strategies for the future. . . Continued
Ron has it all – the 50,000 foot understanding required in the boardroom; to the ground-level tools, skills, and dexterity required to settle in with the tactical team. . . Continued
Ron’s creativity, candor, knowledge and, frankly, determination proved absolutely invaluable through a very challenging hinge in our company’s 40+ year history. . . Continued
Ron has helped us look at our business more objectively, he provides a non-biased viewpoint, shares the options and various possible outcomes and helps us make the tough decisions, sometimes decisions that business owners just don’t want to make, but need to make . . . Continued
I’ve had the good fortune to work with the same clients as Ron a number of times. He is an exceptional CFO and easy to work with. . . Continued