Why I Am A Part Time CFO
Mar 24, 2011
Is an interim CFO the same as a part-time CFO, and should you care? At B2B CFO®, we think you should care, as we believe we have been the defining force behind the growth of part-time CFOs in the last ten years.
In simple terms, partners at B2B CFO® are a long-term CFO solution as needed, whereas other interim solutions are generally a “short-term, full time solution”. This part-time CFO model is much more suitable to the needs of our core audience - the small and medium sized growth company under $75 million in sales. You need a trusted financial advisor who is available when and only when you need them, is willing to commit to a long term relationship, and has arranged their business model so that we take the financial risk of finding enough clients to keep us busy.
In contrast, the Interim CFO model, requires that candidates find long term consulting appointments and stay busy with one client for extended but limited periods. As a result, these firms are more likely to try to tie a client down with extensive contracts, penalty clauses and other commitments. Interim CFOs can also add layers of overhead. In fact, there is a danger that business objectives are no longer aligned - leading to inevitable conflict.
There are also differences in our service and client relations approach. Because we have a proven and sustainable business model, we can afford to work with our clients on a handshake. I don't need a water-tight contract to tie you down - if I stop offering good, objective advice , then you can show me the door. If you need to cut back my time - no problem, or call me after hours - same thing.
For the same reasons, we are very up - front about fees. We will perform a free Phase 1 analysis to understand your operation and to help us build a realistic fee proposal. But we will provide full disclosure of our proposed fees and allow you the flexibility to accelerate or slow down work as you see fit. We never have cancellation, or hidden fees, or transition fees. We will even help you hire a full time CFO when the time comes.
Our focus is on small and mid size growth companies with revenues up to $75 million. We typically manage a portfolio of 4 to 8 companies and budget our time as needed for fixing issues and providing oversight. So, we will never neglect you to work on that HUGE opportunity that just came in - like some contractor who rips out your bathroom and then disappears for weeks.
We don't indulge in financial voodoo. We stick with the simple facts, like "Cash, we help you get it!". We set you up with simple systems and reporting. Maybe a dashboard to help you focus on key metrics. We'll help your book-keeper perform better, and suggest ways to improve profitability. We'll coach and push you to build real value into the company. We'll earn our keep.
We are nearly 190 seasoned CFOs who have made the commitment to being professional, part-time CFOs and we will unleash the intellectual capital of all our partners when we come to work for you. We are not unemployed CFOs looking for a full time job, we are not employees of an interim staffing firm, we are not CPAs with little actual experience running a business. We are highly, experienced professional CFOs available as you need us - on your schedule.
All the Partners at B2B CFO® are building long-term practices similar to CPA firms and it is our goal to have a portfolio of satisfied clients - not just being a temporary solution or project based consultants. We are respected business leaders in our community and have a wealth of reliable, proven business contacts who we can leverage to help your business grow. We genuinely care about our client's success and we want each and every one of our clients to build and realize business value.




