An Essential Guide for Hiring the Best CFO Services

For small and mid-sized businesses, financial operations are a critical yet challenging aspect of maintaining business health. Hiring a full-time Chief Financial Officer (CFO) can be too expensive, leaving many businesses without the strategic financial guidance they need. 

This is where outsourced CFO services come in, offering all the expertise and benefits of an in-house CFO at a fraction of the cost. When it comes to managing your money, the DIY approach is rarely the best one. Here's what you need to know about investing in the best CFO services and what you can expect from partnering with Fix-It Accounting.


What Does an Outsourced CFO Do?

An outsourced CFO performs many of the functions of a full-time CFO but with more flexibility. They provide expert financial guidance tailored to your business’s specific needs. Here are some key ways an outsourced CFO supports small business owners:

  • Financial Strategy Development: They create and implement long-term financial plans to align with your goals for business growth. This includes evaluating your business's current financial position, recommending growth opportunities, and developing a plan to achieve success.

  • Budgeting and Financial Forecasting: By analyzing historical financial data, an outsourced CFO develops budgets and creates plans to help business leaders make wise financial decisions. 

  • Cash Flow Management: They monitor the money coming in and out of your business to ensure you have the resources you need to invest in your future growth. 

  • Financial Reporting and Analysis: Providing reliable data and timely reporting is essential to virtual CFO services.  These financial reports help you understand your company’s performance and identify areas for improvement.

  • Risk Management: An outsourced CFO assesses potential risks and recommends strategic decisions to avoid them.

  • Tax Planning and Compliance: They work with your accounting team to ensure your business is compliant with tax laws and work to save money where possible.

  • Investor Relations: For businesses seeking funding, an outsourced CFO can prepare presentations, financial statements, and projections to attract investors.

The flexibility of outsourced CFO services means you can customize the level of support you need, whether it’s on an ongoing basis or as a consultant during exciting growth phases of your business.


Why Are Outsourced CFO Services More Affordable?

One of the biggest advantages of outsourcing your CFO needs is cost savings. Hiring a full-time, in-house CFO can cost upwards of $200,000 annually in salary alone. When you factor in benefits, bonuses, office space, and other overhead costs, the total expense can become too much for small and medium-sized businesses.

Outsourced CFO services, on the other hand, are highly cost-effective because:

  • Pay by Contract: You only pay for the services you need. If your business requires financial oversight for a major project or quarterly financial planning, you don’t have to commit to a full-time salary.

  • No Overhead Costs: Outsourced CFOs work remotely or on a contract basis, eliminating expenses like office space, equipment, and training.

  • Scalability: You can adjust the level of CFO support to evolve with your growing business, ensuring you’re never overpaying for services.

  • Immediate Expertise: Unlike hiring a full-time CFO, which involves a lengthy recruitment process, outsourcing allows you to access seasoned professionals immediately.

Outsourced CFO services are the best and most affordable way for small businesses and startups to get quality financial advice from experienced professionals without sacrificing quality. 



How to Choose the Best CFO Services for Your Business

Finding the right outsourced CFO is crucial to your business’s financial success. Here are the steps to ensure you make the best choice:

  • Assess Your Needs

    Determine the specific areas where you need financial expertise. Are you looking for help with tax planning, budgeting, or preparing for an audit? Understanding your priorities will guide your search.

  • Look for Industry Experience

    An outsourced CFO with experience in your industry will understand the unique challenges and opportunities your business faces. 

  • Review Qualifications and Track Record

    Check their certifications (e.g., CPA, EA, CFA) and ask for case studies or references from previous clients. A strong track record of success with businesses similar to yours is a good indicator of their capabilities.

  • Evaluate Communication Skills

    A great CFO should be able to communicate complex financial concepts in a way that’s easy for non-financial team members to understand. Clear communication is essential for business leaders who are facing big decisions. 

  • Ensure Flexibility and Scalability

    As your business grows, your financial needs will evolve. Choose a CFO who can scale their services to meet your changing requirements.

  • Discuss Technology Proficiency

    In today’s digital age, a CFO should be familiar with common financial software. Quickbooks Online makes it possible for our team to support business owners across the country. Choosing the right virtual CFO is important in your company's growth. Your relationship with this person is vitally important. Take your time to carefully vet potential CFO candidates until you find someone who aligns with your business goals and values.



What to Expect from Fix-It Accounting’s CFO Services

Fix-It Accounting is a trusted entity providing the best CFO services around. We offer personalized financial solutions for small and mid-sized businesses. Here’s what you can expect when partnering with us:

  • Tailored Financial Strategies

    We take the time to understand your business’s challenges and goals. Our team works closely with you to develop customized strategies that drive growth and improve profitability. No two businesses are the same, and neither should be your financial strategies.

  • Expert Guidance

    You can hire a CFO with a decade of experience working in one field or a team of people with combined decades serving businesses across a vast spectrum of fields.  Whether you’re navigating a complex tax situation or planning a major expansion, our team has the expertise you need to succeed.

  • Proactive Support

    At Fix-It Accounting, we don’t just react to financial challenges—we anticipate them. Our proactive approach ensures you’re always prepared for what’s ahead.

  • Clear and Transparent Pricing

    We believe in transparency. Our pricing is straightforward, with no hidden fees. You’ll always know what you’re paying for. Many of our clients come to us to navigate specific issues and then extend their contracts after experiencing the relief of handing over their finances to a skilled CFO.

  • Long-Term Partnership

    We’re more than just financial consultants—we’re your partners in success. Our team is dedicated to helping you achieve your goals, no matter how ambitious they may be.


Hiring the best CFO services can transform your business by providing the financial expertise needed to make informed decisions and achieve sustainable growth. Outsourced CFOs are a cost-effective alternative to full-time hires that deliver the same level of strategic guidance without the investment of hiring a full-time executive.


When you choose Fix-It Accounting, you gain access to a team of seasoned professionals committed to your success. From budgeting and cash flow management to risk mitigation and tax planning, our team is equipped to handle all your financial needs.


Ready to take your business to the next level? Contact Fix-It Accounting today to learn more about our outsourced CFO services and how we can help you achieve your financial goals.

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