What is a Fractional CFO?
and other Frequently Asked Questions
What is a Fractional CFO?
A Fractional CFO is a senior financial executive who works with your business on a part-time basis. You gain the strategic financial expertise of a full-time CFO without the cost of a full-time hire. A full-time, salaried CFO costs a company $250,000 on average for base salary alone, and then the company will have to shoulder the burden of payroll taxes, benefits, and bonuses on top of that. Fractional CFOs work as contractors for your business, so you only pay for what you need as you are growing.
How is a CFO different from a bookkeeper or accountant?
Bookkeepers and accountants focus on recording and reporting past financial data. A CFO provides forward-looking financial strategy and allows you to lead with confidence through: informed decisions, cash flow management, long- and short-term forecasting, and aligning your financial operations with your business goals.
Do I need to switch accountants or bookkeepers to work with you?
No. We work alongside your current accountant, bookkeeper, and tax preparer. Our role is to enhance your financial strategy, not replace your existing partners. If you are currently unhappy with your existing financial team, we have trusted partners that we can recommend to support you or conduct a search for replacements on your behalf.
How do we get started?
We begin with a discovery call to understand your business, challenges, and goals. Book a discovery call today!
How do you communicate and collaborate with clients?
We meet regularly via Zoom and use collaborative tools like Jirav, cloud-based files, and email to stay aligned. You’ll always know when and how to reach us.
What size businesses do you work with?
We specialize in supporting businesses with $2M–$20M in annual revenue that are looking to grow. Our ideal clients are wanting to be proactive about their financial health while accomplishing their mission and purpose through their business. We also love working with clients that run on EOS™.
What services are included in Fractional CFO support?
Our CFO services typically include:
- Finance team leadership
- Cash flow forecasting and management
- Financial reporting and KPI tracking
- Budgeting and scenario planning
- Strategic advising for growth and profitability
- Accounting system recommendations and implementation support
- Ad-hoc support for anything that could affect your business financials
- Business transaction or transition support (buying, selling, or equity transitions)
How do your services support businesses running on EOS?
At Clara CFO, we deeply understand EOS because we run on EOS ourselves! Even our internal team meetings are run on EOS meeting rhythms. We support EOS clients through taking on the Finance Leadership team seat and can LMA (lead, manage, and hold accountable) team members on the accounting team. We participate in weekly L10s with the leadership team, own scorecard items, and own quarterly rocks. When engaged as a Fractional CFO for an EOS company, we act as a fully functioning member of the company’s leadership team.
To learn more about how we work with EOS businesses, listen to this podcast episode with Hannah Smolinski and Laura Shiel (co-owners of Clara CFO) discuss our EOS services.
What is the investment for Fractional CFO services?
Hiring a full-time CFO typically costs $250,000+ annually, before bonuses and benefits.
Our clients choose a fractional CFO because they want experienced financial leadership without committing to a full-time hire before it’s necessary.
CFO services are priced based on the level of CFO ownership and complexity of the business with most clients investing between $3,500 and $10,000 per month.
Because we act as your CFO, not just an advisor, our focus is on delivering meaningful ROI through better decision-making, improved profitability, and scalable financial infrastructure.
If you’re looking for the lowest-cost option, we’re likely not the right fit. But if you’re ready to invest in building your business with the right financial leadership in place, we should talk.
Financial clarity for growing small businesses.
We can’t wait to hear from you.
