CFO Services
What Is A CFO?
A CFO is the Chief Financial Officer of a business. This is a role that has changed over time.
The role of the CFO has evolved as small businesses have become the backbone of the US economy. For small businesses, a CFO provides expertise and guidance to the ownership to make decisions, both small and large, about a company's future.
CFOs used to be a position that only large corporations employed. It was a role focused on both the history (accounting) and future (finances) of the corporation.
- Accounting is the accurate recording of the historical financial transactions of a business.
- Finance is the process of managing business funds from all sources such as operating cash, debt, or equity investments, for a business to fund its future goals.
CFO Services At Profit Scale Thrive
Profit Scale Thrive offers strategic CFO support to our clients. We analyze the numbers from your financial reports based on your historical transactions and explain your numbers to you in meaningful ways that will help you reach your future business goals.
For example, conversations with our clients answer questions such as:
- How do I make more money?
- Should I raise my fees?
- Can I afford to hire another employee?
- You say I have made $150,000 in profit so far this year. Why is there only $25,000 in my bank account?
Are you tired of being the "chief of everything" in your business, feeling stuck on a hamster wheel, and worried about losing control? You're not alone! Discover the game-changing solution to transform your business and regain control of your time and finances.
Does This Sound Familiar?
The most common struggles we hear about business ownership when we talk to small business owners often include the following.
You Want Your Business To Be Successful But You Don't Know How
Do you know what needs to change in your business to increase your revenue? Your cash? Your profit? The answer is not the same for each of these questions.
The Catch-22 Of Business Ownership
You want to grow your business but you need cash to accomplish this. But you can't get more cash without growing your business.
You most likely started your business because you are an expert in your field, you wanted control over your time, and you wanted the ability to make more money.
Without enough cash, you are doing more admin work than desired. You have lost control of your time. You are doing less income-producing work (and not making as much money as you desire).
The Business Relies Too Much On You
When was the last time you took a vacation? An unplugged vacation? Are you involved in all aspects of your business so much so that the business falls apart if you are unreachable?
Do you feel like you are on a hamster wheel going 100 MPH and you can't get off because everything you have sacrificed for will fall apart?
This is the fast path to burnout.
Every Day Is Filled With Overwhelm And Worry
Is running your business overwhelming? Does running your business limit your ability to make money which then increases your stress when you think about your personal finances?
Is this worry about money causing a strain on your personal relationships?
Do You Know What Works (And What Doesn't) In Your Business?
Do you have a simple way to know quickly what is working (or not) in your business? The standard financial statements were created for accountants, not business owners. And, your financial statements do not tell the whole story about your business.
How can you make business decisions without knowing all of the key factors?
The Answer To All Of These Issues Is...
...your business needs to create positive cash flow consistently.
The bad news first - how to accomplish this is unique for every business.
But, the good news is that using our proven system will:
- Help you define your business goals for the next 12 months and next 5 years
- 12-month goals will be broken down into monthly milestones
- What gets measured gets done. So, we will gather your key metrics so you know what is currently working (or not) in your business
- Your KPI dashboard is color-coded so you understand your key metrics in one glance
- We meet monthly to interpret your metrics for you and guide you to your next steps
- Whether you met your goal earlier than anticipated or are lagging, know what your business needs to do to move forward
We call our system the "Diagnostic Dashboard".
The Diagnostic Dashboard Process
The Diagnostic Dashboard process is easy as 1, 2, 3.
Define Your Vision
Together we work to document your vision for your business.
- Why did you start the business?
- What do you want to achieve with your business?
- What motivates you to keep the business going?
Your vision will be updated once every 12 months.
Goal Setting
Based on your vision, we will help you determine your goals. We will start with your 5-year goals, then your 12-month goals.
Your 12-month goals will be broken down into monthly milestones.
Goals will be updated every 12 months.
Monthly Meetings
Profit Scale Thrive will create your Diagnostic Dashboard based on your vision and goals which we will update for you monthly.
We will review your Diagnostic Dashboard with you to celebrate your achievements and advise you on what exactly you need to do before our meeting in the following month to achieve your next milestone.
Please watch the video below for a tour of the Diagnostic Dashboard.
Let's Level Up Your Business
Curious to learn more? Provide the information below to schedule a Curiosity Call with us. This complimentary call is your opportunity to ask questions you have about Profit Scale Thrive and our CFO Services.
If we are a good fit, Profit Scale Thrive will send you a proposal after your Curiosity Call.