The success of your business revolves around a seemingly endless number of complex factors. On the financial side alone, these elaborate moving pieces include cash flow, cost tracking, working capital and financial reporting, among many others.
Strategic planning is the proactive mechanism used to assess all available data and transform the information into a cohesive and actionable vision to help your business move forward. After assessment, decisions are made, priorities are established, resources may be shifted, operations are optimized, and key performance indicators may be used to measure progress and adapt to changing circumstances.
If you don’t have a full-time CFO, Virtual CFOs is your solution for strategic planning for small and medium-sized companies. We provide financial expertise and leadership on a part-time or project basis, allowing you to devote precious time to the more critical aspects of your company. Together, we’ll develop a plan that focuses on your business’s future and guides your decision-making processes.
The Benefits of Outsourcing Strategic Planning
Even for a mid-sized or small company, financial analysis services can be extremely beneficial. Not all companies are in a position to support the salary of a full-time CFO, however. If your company is new or is in the growth stages, it typically makes sense to devote financial resources to services only when they’re needed, including for a part-time CFO. Among the benefits of partnering with Virtual CFOs:
- Cost-effective staffing: Our services could mean the difference between you hiring bookkeepers and having to hire high-salaried CPAs. With a part-time CFO, you won’t be giving out any raises or bonuses or paying for fringe benefits, either.
- Built-in expertise: Virtual CFOs was founded in 2003. We’re experienced, skilled and insightful, and bring an outside perspective to strategic planning for a medium-sized company or a small company.
- Flexibility: We’ll work on-site or remotely — whichever setup is more effective — and you don’t have to lock into a long-term contract.
- Transparency: A staffer may be hesitant to deliver bad news. With an outside perspective, you’ll hear what you need to hear.
Impacting Your Bottom Line
Like almost every business action, the ultimate goal of strategic planning is to increase growth and profitability. Here are just a few examples of what we do in terms of strategic planning for a small company or a medium-sized company to impact the bottom line:
- Help identify and evaluate strategic changes in markets, products and services offered, types and size of customers pursued, organizational structure, potential acquisitions or divestitures
- Create financial projections for one or more possible scenarios to assist the evaluation process, project future cash needs, and provide a financial expectation of future results
- Recommend new tracking and reporting systems that provide key decision-making information not previously available
- Recommend reorganization of company structure to best utilize the company’s strengths, opportunities, people, processes, facilities and competitive advantages
- Assist in implementation of reorganization plans
- Track costs of products/services so emphasis can be shifted to those that are more profitable
Get in Touch With Us Today
Strategic planning for small and medium-sized companies is complex. Expertise is required, but often not on an everyday basis. With a part-time CFO, you can leverage the financial talent you need at a fraction of the cost of hiring a CFO.
To get started on a strategic planning roadmap designed to help your company thrive for years to come, contact Virtual CFOs today.