Ekuiplus- How a virtual CFO can drive exponential business growth

1. HOW CAN A VIRTUAL CFO DRIVE EXPONENTIAL BUSINESS GROWTH? A lot of people are confused about the specific role of a virtual CFO in a company. What are they responsible for - Accounting? Book-keeping? Financial operations? Or all of these? What A Virtual CFO Really Does: Virtual Chief Financial Officers abbreviated as VCFOs are on-call CFO that helps businesses with effective financial support without the commitment and costs of hiring a full-time or in-house CFO. Outsourcing CFOenables the business to operate and strategize in ways that maximize its financial advantages. They analyse your numbers and tutor you, the owner, on how to thoroughly understand these numbers to make informed decisions. VCFOs also sit for forecast and management meetings to make sure every aspect of your business is air tight. The Three Tell-Tale Signs That You Are Ready One very important question that all business owners ask themselves “Is my business ready to grow at a huge scale?” There are three crystal clear signs to determine whether your firm is ready to take the leap into exponential growth. Read on to find out what they are! 1.Enough Capital For Expansion The first thing you need to make sure is that you have abundant working capital to scale up the company. Take help or advice from your trusty Virtual CFO, take other consultants into consideration, and analyse the finances of your firm. If your calculations show that you’re going to run short on capital, feel free to take aid from investors or banks. 2.The Right People In The Right Places Be sure of the employees you put in every department: can they handle additional responsibilities and essential roles? Smart founders initiate their growth-driven by hiring a team of staff who specializes in skills that they lack. Regardless of the way you decide to distribute workforce in your company, take note that a sturdy team of skilled employees will help your company develop over time. 3.A Solid, Well-Calculated Strategy Finally, as the owner of the company, do not even imagine scaling up your firm if you don’t have a solid strategy for your objectives and how you aim to achieve them. For example, have you planned whether you want to expand your business into new geological markets, or launch new products? Whether you want to go for vertical expansion and increase your profit margin? Develop a carefully thought-out strategy for your firm that aligns with your goals and vision, and make sure to keep your employees up-to-date on them, so everyone’s on the same page. All-in-all, businesses with abundant working capital, a strong team, and a fool-proof strategy for their development are all set for massive exponential growth in the near future. www.ekuiplus.com

2. How A Virtual CFO Can Help Your Business Grow Exponentially 1.Start-ups generally manage their own finances, ending up struggling with their financial records, strategies full of loopholes, and more often than not, have absolutely no time for planning the company’s future growth. In such situations, here’s how a virtual CFO can change the game: •By taking control of your financial requirements and operations, eliminating all concerns about responsibilities regarding accounting functions. •Implement processes that will streamline your accounting functions. •Implementing cloud accounting that will enable you to access your accounting records and data on any device, anytime and anywhere. •Implementing basic reporting, to enable you to understand the performance of your business. 1.For those of you in the corner seats thinking, “I already have a book-keeper in my company,” need to understand that a bookkeeper can only do so much. When the owner needs advice about increasing financial liabilities that come with the company’s growth, and a direction for the business, a Virtual CFO can guide through the process carefully. Among other things, his or her role would be •Reviewing processes and accounting systems to ensure proper processes and systems are in a position that will streamline accounting functions. •Implementing functional reporting frameworks including an accurate KPI dashboard for assistance in business performance monitoring. •Implementing a model for cash flow forecasting to ensure that your business remains above cash flow, provided the expenditure is increased along with regular monitoring. •Reviewing payroll compliance as well as ensure every record-keeping stays intact in place. Lastly, Addressing Those Business Owners Who Already Have A Book-Keeper And An Accountant In Place. Yours might be a national business that has engaged both a bookkeeper for maintaining balance sheets and income statements, as well as an accountant for figuring out tax and compliances. You, as an owner, in this case, would need a little more support to make a massive expansion. A CFO would •Work with your bookkeeper to implement and enlarge all business-related tasks. •Build a forecast or budgeting model for the financial period. This 3-way model would include a balance sheet, profit and loss, and cash flow. •Help you develop a financial strategic plan for expansion that would contain a 3-to-5-year financial model, based on major business metrics. •Source finance for the business via potential investors or banks and take care of these transactions by providing further advice. Hiring a Virtual CFO can change the game for small and medium enterprises (SMEs) and most other businesses, but generally works wonders for the ones between $1M and $20M in revenue. For these enterprises, it is an especially cost-effective method for getting expert advice and taking the business to new heights. www.ekuiplus.com