Services
Since we have run a successful business, we bring a CEO mindset to the CFO role.
We are passionate about helping business owners to set the right foundations, operate, and achieve success whatever success looks like to them. You deserve a successful business which you run, rather than the business running you!
Do you feel that you need help, support, and advice but don’t know where to turn?
We are on a mission to let you know that financial struggle does not have to be your future? We have a real passion to ensure that your business has sound financial and organisational foundations to help you realise your business goals. Thereby restoring your work-life balance.
Virtual CFO Services - Startup
Most start-ups and early-stage businesses are started by those with sales skills, general enthusiasm, or technical ability, which results in a new or improved product. Finance specialists rarely start businesses, and their skills are often absent from the team of a start-up or early-stage business.
A start-up often makes mistakes in the first few years of trading which set back the development of the business. A part time CFO can help avoid or recover quickly from these setbacks.
As a virtual CFO, we look to provide this missing component, bringing the financial abilities needed to compliment the sales and technical skills of the rest of the management team.
with +35 years’ experience including 10 years as a CFO in start–ups and early stage businesses, we therefore bring a wide range of knowledge and experience to the needs of the start-up or scale up businesses.
The role can be tailored to the specific needs and the financial situation of your business.
For your free 1-hour consultation
Virtual CFO Services - Scaleup
Most scale-up business are run by those with sales skills, general enthusiasm, or technical ability, which results in a new or improved product. Finance specialists rarely start businesses, and their skills are often absent from the team.
Scale up is a challenging time for businesses seeking to grow quickly and safely. There is a need to ensure that sales, delivery, and overheads keep pace with each other and that there is enough cash at the right time toto support the working capital growth of the business.
Scale up is also a step change in the company’s organisation, systems and processes from the start-up phase often requiring new skills and capabilities which need to be recruited, introduced, and bedded in. These are challenging times and require a CFO as an integral part of the management team to ensure success.
As a virtual CFO, we look to provide this missing component, bringing the financial abilities needed to compliment the sales and technical skills of the rest of the management team.
with +35 years’ experience including 10 years as a CFO in start–ups and early stage businesses, we therefore bring a wide range of knowledge and experience to the needs of the start-up or scale up businesses.
The role can be tailored to the specific needs and the financial situation of your business.
Pass on or sell out?
What is your vision for your business?
In E-Myth, Michael Berber says that every business should be built with the intention of sale at some point in the future. Otherwise business owners slip into the habits which build a job instead of a business. Which result in the businesses being sold at a much lower equity value if they can be sold at all.
What are you selling when you sell your business? Turnover, gross margin or net profit?
If you are planning to sell your business the maximising the value will take 2-3 years before the date of exit. You need to plan to ensure that you achieve maximum value.
Would you like a free short consultation on the plans for your business?
For your free 1-hour consultation
Planning?
Every business requires a plan. Business owners and management teams must write a plan, test the plans assumptions, and report monthly actual performance against the corresponding expected performance in the plan. Then the accuracy of the plan can be ascertained and then refreshed annually or earlier as appropriate.
If there is no plan, then the business is flying blind or just meandering along. Flying blind can lead to flying into the ground, destroying the business. Meandering along takes tow or three times to get anywhere and may not be were you wanted to go if you had had a plan in the first place.
Would you like a free short consultation on the plans for your business?
For your free 1-hour consultation
Review
a. Accounting and Integrated Systems Review
The advent of cloud computing systems opens significant opportunities for businesses to improve the real time nature of their financial information reporting. Previously, it took up to 15 days to run the month end and post the month end journals. The advent of the new Cloud based accounting systems such as Xero or QuickBooks, together with a wide array of apps, opens up real time accounting with management information available on an almost instantaneous basis and monthly information available within 7 days of the month end.
How is your accounting system? Are you spending too long posting information to your accounting system? How much could be automated? What are your KPI’S?
Is it time for a review of your accounting system?
The advent of cloud-based systems and integrated software such as Office 365, Teams, Zoom, Keep, Monday, Sales Force, Xero and QuickBooks will provide opportunities for improved efficiencies in the operation of the business.
These efficiencies in the can provide additional profit and in the longer run provide higher equity values and the difference between success or failure of the business.
Do you need to consider the wider efficiency opportunities available now and needed in your business for post Covid-19 world?
Download our health check below.
b. Budgets and Financial Forecast Review
Preparing a 12-month budget for your business provides an initial benchmark to compare actual subsequent performance. This provides a check on the underlying business model for the next 12 months and gives the management team reassurance as to the profitability of the business and the cash surpluses or deficits for which the management team needs to plan.
The follow-on from preparing a 12-month budget is to create a business model for a rolling 3-year time horizon.
This process provides the management team a longer-term view of the business and therefore includes expected changes to the sales mix, new products or services planned by the business together with their launch and capital investment costs.
This process will identify changes to cash and investment needs and will provide management with the information to plan for the longer term needs of the business and avoid the process of “hit and hope” which inevitably leads to cash problems and often business failure.
c. Sales Pipeline Integration Review
The availability of sophisticated CRM systems makes operating and controlling the sales process much easier and provides a better system for managing the businesses customer leads and turning them into sales.
The information from the CRM system cross references into the sales projections in the company’s 12-month budget and 3 year rolling financial forecast. This information will show any expected surpluses/ shortfalls between the CRM projections and the budget/financial forecast.
Projected shortfalls will need additional sales resources to be deployed to close the gap between the sales pipeline and the sales projected in the budget and financial forecast.
Surpluses will need additional delivery and working capital resources to meet the additional demand.
Brexit and Global Britain
Brexit
The UK officially left the EU on 31st January 2020 but there are still issues that need to be resolved. If they are resolved, then there will be a trading agreement between the UK and the EU. If not, then the UK and EU will trade on World Trade Organisation (WTO) rules.
Are you ready for the new trading relationship? The EU is primarily a protectionist organisation protecting the economies of France and Germany. This is a reason behind the difficulties with the current UK/EU trade negotiations.
Are you ready for both WTO and UK/EU trade deal outcomes?
Would you like a free short consultation on the risks to your business?
Global Britain
The ambition of many in the UK post 2016 was that the UK would use its newfound freedoms once free from EU control to develop increased trading relationships with the USA, Canada, Australia, New Zealand, other Commonwealth Countries and the rest of the wider world.
Are you ready for these opportunities?
We and our associates have experience of overseas banking issues, international corporate structures, corporation tax compliance and VAT issues. We would be delighted to help with any issues you may face.
Do you have any risks arising from the changing UK/EU relationship after 31st December 2020 or any need preparing for the opportunities and challenges arising from the UK’s new global trading relationships?
Would you like a free short consultation on the risks and opportunities for your business?
