Selling relationships

Two things that really appeal to me are story and relationship. Couple them together and you have a very powerful combination.  Over the years, the clients I enjoy working with the most have a great story. This story can be their product but not always.  Sometimes, it’s the entrepreneurs personal “why” or what they overcame, against the odds, to get to the point where they are! Possibly, the client is working on a new drug to conquer a previously incurable disease, but just as likely is a grown child of a parent who worked two jobs to keep the lights on and food on the table.  Even more often, it’s just someone doing the ordinary in an extraordinary way.  The one thing they all have in common is that they all have a story! And in that story, the business owner is the HERO! Why? Because the only reality that any of us can know is first person! Everyone else is just a character in that reality! 

To you, You Need a CFO is simply a character in YOUR story.  We act as a guide along your journey, a resource.  Although we have knowledge and experience involving most situations you may encounter, we have found the vast majority of gains come from structure and intentionality through a collaboration in utilizing our services.  Through our structured guidance we will regularly review, monitor, and adjust as needed. This regular dedicated time is a simple but highly effective method to obtaining the business you want.  

Simple, but not easy, is a key concept of life.  If we are trying to lose weight, eat healthier, or get more sleep, all of these things have very simple solutions but NOT very easy solutions!   In relationship, using our collaboration method, we are able to help you state your goals, clearly see what these goals will take to accomplish, and get your buy-in to the those goals.  Along with this, we develop metrics, procedures, and controls so that the output of your business and the efforts of your staff are your goals!  

The highest and best use of relationship and story is shared experience.  At You Need a CFO, through shared experience, we want to help you achieve your desired outcome, visibility into your practice, or dedicating your focused energy right where it is needed. Relationship allows us to do more, do better together and that’s why…You Need a CFO!

What type of CFO do I need?

It should come as no surprise that there are different types of CFOs, but perhaps you have never thought about it that way.  I worked for a CEO once who had experience with a lot of different venture capital entities. He said there are different stages of a company, where the CEO is guiding the Company with a singular vision to get the Company to the goal.   These stages are proof of concept (is there a market for your product?), revenue generation, net profitability, one million of revenue, one hundred million, & then public offering.  He then said something that struck me powerfully, he said each stage of CEO is a different guy! After hearing this it’s one of the most striking characteristics of the leader.  

Similarly, there are different types of CFOs.  In addition to size (or stage) of company, many CFOs will have specific insight into different size companies or of a certain niche, group of niches, or types of companies.  Certain CFOs may specialize in taking companies public, taking companies private, or working with inventory or logistics. 

Beyond these obvious differences, there is one more crucial distinction that we must talk about.  The two main types of CFO services are strategic advisory and fractional services. The latter, fractional, is comprised of an individual that works with a very limited number of companies in a very direct and often operational capacity. This type of CFO is in constant contact with management and staff of the company and is an integral part of the operations. This can be very beneficial for companies trying to build structure for growth and/or those who may be close to hiring a full time CFO.

The second type of CFO service, and that is what we focus on, is CFO advisory.  Under this service we help develop a strategic plan, develop a budget and a rolling forecast, identify and monitor drivers, and set up a dashboard for you to track your metrics.   We will meet monthly to evaluate how your metrics track to your goals, make adjustments to that relationship, and discuss scenarios whereby driving results towards your goals.  Regardless of the type of guidance, it is a critical part of your business and that is why..you need a CFO!