Business Development

 

We believe bookkeeping is more than just data entry and bank reconciliations. Yes, they’re important but we think the real magic is unravelling the puzzle and diving deep into the numbers so you can really see where your business is, adding real value to your business and helping you drive it forward.

Why Engage a Virtual CFO?

Having access to a Virtual CFO can be a massive advantage to your small business. Most small businesses can’t afford to hire an experienced, knowledgeable CFO on a full time basis so the idea isn’t entertained further. Engaging a Virtual CFO means you get access to an experienced and knowledgeable financial professional at a fraction of the cost of a full time CFO.

We are all aware of the rate of business failure within the first 3 years. This is often boiled down to businesses failing to set themselves apart from their competition or unable to find and maintain a profitable business model. We understand cash is tight in those first few years, and often beyond, which makes it impossible to hire a full time CFO to oversee the financial pulse of the business. A Virtual CFO can make a huge difference to a small business, without the huge financial commitment.

What Can a Virtual CFO do for my Business?

Manage and Improve your Cashflow

We all know that “cash is king”. If there was anything the COVID19 pandemic taught us, it’s that we need to have reserves in case disaster strikes. But it shouldn’t take a global pandemic to make us realise the importance of cash. Consider how natural disasters such as flood, fires and cyclones strike affect our ability to continue to run our business; or what would happen is a key person within the organisation were to suddenly leave; or if your major source of income was no longer there. These can all be temporary disruptions to your operations which can be worked through. But during the time you’re rebuilding you still need to pay wages and superannuation, rent and utilities, insurances and other running expenses, loan and lease payments, and put food on the table at home. The lack of cash reserves during difficult times can mean disaster for a small business.

Even without disasters impacting your business, savvy business owners keep an eye on their cash so they can identify problems early and mark the necessary adjustments before they become a problem.

We help you with financial reporting, cash flow management, budgets and forecasts.

Data Analysis

There are lots of numbers in your business and you should focus on some more than others, or at different times. Your financial information can be complex it it’s raw format. We take the complexity out of your numbers, diving deep to combine them into simple reports which enable you to make timely and insightful decisions in your business.

We analyse your data and remove the complexity so you can make informed business decisions.

Budgets and KPIs 

A KPI is simply something that allows you to track the critical success factors relates to your goals. Diving deep into your KPIs (Key Performance Indicators) should stem back to your business plan and the strategic goals and objectives you have for your business. How do you know you’re on track to achieving those goals and objectives if you aren’t measuring key indicators? If we cannot measure, we cannot manage.

Each business will have different KPIs that they use to meet their business goals. Whatever your KPIs are, they should be:

  • Actionable: show you the improvements that need to be made.
  • Measurable: easily interpret and track your KPIs in alignment with your goals.
  • Timely: measure your KPIs against current data, unless you’re looking at old data for comparison purposes.
  • Impactful: knowing how your KPIs impact your gross or net profits, customer satisfaction and retention, team productivity, etc.

We help you create and monitor meaningful KPIs in alignment with your business goals.

Increase Your Profits

Increasing your profits is rounding out the circle and bringing it all together.

You may be profitable but have no money in the bank. You may be super profitable in one part of the business but another part of the business is leaking like a bucket with a whole in it. There may errors and inconsistencies in your bookkeeping that are causing your profits to disappear.

Look at your cash flow, your budgets and KPIs, round it out with some data analysis; couple that with some good bookkeeping practices and you can really see the profitability of your business, or the holes that may need to be plugged.

We help you increase the profitability of your business by plugging the leaks.

 

Engaging a Virtual CFO in your business isn’t a decision that should be taken lightly. Use the link below to click an obligation free discovery call with Sarah about how we can work with you.

Book a discovery call with Sarah