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What is an Outsourced CFO?
An outsourced CFO is an experienced financial manager who enjoys working with many different companies.  The CFO is not just a title for an accountant who is in charge of the accounting department.  The CFO helps you identify and manage your financial objectives and helps your business work closely with its banks and investors. 

The CFO can do most of the controller's functions.  But even a good controller cannot take the place of a CFO.  If you need good analysis and communication, consider outsourcing your CFO today. 

The Difference Between a CPA and CFO
Most CPA's are great at numbers.  Most CPA's enjoy digging into the details and making accounts balance.  But your business doesn't need more adjustments, it needs analysis and communication. 

The right CFO for your business will understand your Magic and work closely with your management to keep you on track.  We will help you set the budgets and keep your management informed as to how they are doing.  We help you analyze and deal with your cash flow issues and make sure your expenses are deliverying the Magic to your customers. 

The CFO will meet and talk with your bankers to keep them informed and ready to support your growth.  The CFO will help them understand your company's strengths and weaknesses in terms the bank understands to keep them working with your business.  

The difference, as you can see, is communication.  Both the CPA and the CFO will be able to analyze your operations but the strength of the great CPA is in finding the right number, the strength of the great CFO is the ability to communicate.

If you need help understanding the Magic of your Business and how to maximize your profitability, you may need to bring in a CFO.  Are you ready to grow and improve your profitability?  If so, contact us today.
Why Hire Us as Your Outsourced CFO?

The short answer is experience.  Our advisors are very talented financial managers.  We bring our belief in Magic to your business to help you understand, plan, execute and monitor your business processes to maximize your profitability.

As your outsourced CFO, we meet with the banks and other money people to keep them informed of the operations and needs of the business.  The money people need someone who speaks their language and also understand the operation, warts and all.

Finally, the CFO acts as the go-between for the business and its outside CPA firm.  Yes, there is still a need for an independent CPA to do the year end statements and perhaps even the tax returns.

 

Click here if you would like more information on learning about your Magic and how to continuously improve your profits. 

When to Outsource

Your business will probably need a higher level financial manager when it gets above 20 employees.  But, between 20 and 200 employees, you do not need a full-time CFO or controller. 

When do you know it is time to Outsource the CFO position?

If you have 4 or more of the following, you should seriously consider outsourcing your financial management:
  • 5 or more employees
  • At least 1 bookkeeper in the accounting department
  • A focus on fast growth that will consume a lot of cash
  • A need for banking to fuel the growth
  • A desire for planning to grow the business
  • A sense that the business needs controls and feedback to continue its growth
We have worked with the following industries as an outsourced CFO:
  • Manufacturing
  • Construction
  • Auto Repair
  • Medical
  • Trucking

Our Pricing Policy

Our contract CFO service is a mix of hourly, flat rate, and incentive compensation.  We believe strongly in management being compensated based upon the performance of the business.  Therefore, we base a portion of our pay on the actual performance of the business.  If the company cannot achieve its goals then our belief is that we did not earn our pay.

Our Fee Schedule
Monthly flat rate:

We generally agree to work a certain number of hours per week for each client, usually between 2and 10 hours per week depending on the size and complexity of the business.   

Hourly charge:

We are also willing to work on an hourly basis.  Our rates are $200 per hour for up to 20 hours per month and $150 per hour for hours above that.

Incentive plan:

If agreed to by both parties, the Constant Profit Advisors is willing to exchange up to 50% of the above charges for either phantom stock or a percentage of profits before depreciation, interest and taxes.  The amount of the trade-off is negotiated on a case by case basis.