How can an NFL Coach act like a Fractional CFO?

pencil Posted by Richard Veltre on January 7, 2020

So who watched that NFL AFC Wildcard Playoff game last Saturday night?  The 6th seed Tennessee Titans marched into Gilette Stadium in Foxborough and upset the 3rd seed New England Patriots on their home turf.  I considered it one of the best games I had watched in a long time.  I saw precision.  I saw few (if any) mistakes on either side.  I saw a war between a coach who could arguably be considered one of the greatest coaches of all time, and one of his former players returned as a head coach.  So why am I talking about this on a business-related blog?  We'll get to that...

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What’s a Fractional CFO and Who Needs One?

pencil Posted by Richard Veltre on May 17, 2019

Although the phrase "fractional CFO" sounds like complicated math, it’s really a simple concept – take a full-time CFO and ask him or her to work for your company for less than full time (so, a ‘fraction’ of his or her time).

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How an Outsourced CFO Can Help with Due Diligence

pencil Posted by Richard Veltre on April 30, 2018

While you’re scouting for companies to acquire, you need someone comfortable with due diligence on your team. You’re in the business of investing in risk, but the portion of risk linked to getting bad company information is minimizable.

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Spend Your Time Building Deals, Not Spreadsheets

pencil Posted by Richard Veltre on April 18, 2018

You should spend your time focusing on your clients, not paying bills, mastering your accounting software, creating financial reports (or trying to interpret them), and tracking invoices.

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Venture Capitalists Need a Financial Psychic - Like an Outsourced CFO

pencil Posted by Richard Veltre on April 2, 2018

Our previous post discussed five advantages an outsourced CFO can bring to the table for VC investors. Over the next few weeks, our posts will dig deeper into each of those benefits. Today focuses on how a fractional CFO, or an outsourced CFO, can help you think about the vision you have for your business and the culture that will grow from it.

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5 Advantages of Using an Outsourced CFO if You're a VC Investor

pencil Posted by Richard Veltre on March 21, 2018

VC funds can vary significantly in the size and scale of their operations. Let’s take a hypothetical company that manages three funds:

  • Management is responsible for three fund audits, three quarterly reports, etc. (Basically, three of everything.)
  • Each fund must:
    • Manage distributions (from IPOs and M&A)
    • Field questions from multiple lending partners
    • Schedule and manage meetings

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When Do I Need a CFO?

pencil Posted by Richard Veltre on March 7, 2018

Many small businesses do well with the services of a bookkeeper or controller, but eventually many find it necessary to expand by bringing in a CFO. While accountants, bookkeepers, and controllers have their place, CFOs help with different things – like by offering actionable insights into how your business is faring financially.

If you’re unsure if this step is right for you, consider the following pros and cons to help you answer the question: "When do I need a CFO?"

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5 Things to Consider When Negotiating with a Bank

pencil Posted by Richard Veltre on January 23, 2018

Whether you’re a sole proprietorship, limited liability company, or corporation, obtaining a small business loan will be a top priority when it’s time to expand your company’s reach.

If you dread ‘haggling,’ consider these tips for negotiating with a bank.

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9 Keys to a Successful Audit

pencil Posted by Richard Veltre on January 11, 2018

Preparing for an audit and its associated fieldwork can be overwhelming and time-consuming. Below, we’ve outlined helpful tips to help this yearly process go more smoothly.

Here are the 9 keys to a successful audit.

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How Outsourced Accounting Helps with Restructuring

pencil Posted by Richard Veltre on December 27, 2017

An electronic burglar and fire alarm company was going through a troublesome restructuring. Opportunities for consolidation in the local industry were abundant due to new state regulations and licensing requirements, but the company would miss out on those opportunities unless they quickly eliminated their current issues. When they found they couldn’t manage the situation on their own, they enlisted the services of an outsourced accounting team.

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