Your Non-Exec CFOx (aka Virtual CFO for eCommerce)
- March 9, 2022
- Posted by: Marek Niedzwiedz, Your CFO
- Category: Scaling Cash 4 eCommerce
Your Non-Exec CFOx (aka Virtual CFO) is a great way for small eCommerce business owners to get CFO support that they normally cannot afford.
The businesses that hire a Virtual CFO get access to an experienced financial professional at a fraction of the cost of a full-time CFO. The services differ, but usually a Virtual CFO will:
👉 handle all the duties of a traditional CFO, but work remotely on a part-time basis;
👉 monitor the financial health and well-being of the business, usually with cloud technology;
👉 offer financial insight and guidance on all company’s issues and decisions – strategic and operational;
👉 provide back-office functions such as managing accounts ledgers.
Having access to a Virtual CFO can significantly benefit a small business. Most of them can’t afford an experienced, knowledgeable CFO on a full-time basis and may never consider hiring one.
That’s a problem because more than half of small businesses fail within the first five years. Reasons include failure to set themselves apart from the competition and finding a profitable business model. Financial professionals acting as their Virtual CFOs can keep their financial goals and realities clearly in sight.
A Virtual CFO is an affordable alternative to hiring a full-time CFO and can make a big difference to you by:
👉 Improving your cashflow & profits – more real cash in your pocket
👉 Providing you with a headline view of whether your business is heading in the right direction – “what’s measured improves“
👉 Automating your accounting functions – saving you a tone of money and time
👉 Changing capital allocation – determining the most efficient investment strategy for your business
👉 Assisting you with fundraising – cash is your oxygen
👉 Effective investor relations management – “speaking their language“
👉 Helping you with pricing – Pricing 4 Profit
👉 Assisting you with Mergers & Acquisitions – why not buy your competitor?
👉 Going public – increase your valuation by 10 times!
These are abilities that most business owners don’t possess, but they certainly need them to succeed.
With a combination of practice knowledge, cloud-based accounting software, mobile technology, and modern data analytics, I provide Virtual CFO services that will significantly benefit you and your business.