We’ve talked about small businesses and their value in previous blog posts. In today’s blog, learn about why a small business budget checklist is essential… and how Virtual CFO is here to help. 

What is a Small Business Budget (and Why is it Important?)

We use budgeting in our daily lives. By definition, a budget is a thought-out monetary plan used by individuals and businesses alike. 

So what is a small business budget, specifically? A budget used by small businesses involves monitoring the doings of different areas within the business. A few types of budgets that can be established in a small business are: 

  • Cash budgets
  • Operating budgets
  • Capital budgets

Small business budgeting is important because it helps business owners develop a paper trail of their business’s income and payments, thus allowing them to ensure that their financial goals are being met. 

Limited resources are a commonality in small businesses, especially when that business is just starting out. Having a strong small business budget and enlisting the help of a CFO can help decrease the risk of running out of things you need and potentially going out of business. 

Another important part of having a good budget? Developing an emergency fund. Life (and, by extension, business!) can be unpredictable, which is why it’s a good idea to put emergency financial planning into your budget. Reduce the risk of being caught off guard by some unforeseen occurrence and be prepared for anything life – and the economy – could throw at you. 

What Makes a Good Budget?

Now that we’ve defined a small business budget and its significance, let’s take a look at what makes a good budget. Your budget should be straightforward and accommodating to your needs and the needs of your business. 

A CFO can help you build your budget and keep an eye out for any potential areas that could cause setbacks. Good budgets allow for future plans of your business and recognize prospects that can update and grow your business. 

A good budget is made up of seven elements: 

  1. Estimated revenue: the total amount you can expect to make from sales.
  2. Set Costs: Costs that stay consistent.
  3. Changeable costs: These costs change based on the production or sales volume.
  4. One-off costs: these are used for transferring offices, equipment, furniture and software and other costs. 
  5. Cash flow: the currency that comes into and goes out of a business.
  6. Profit: what you take home after your expenses are subtracted from your business income.
  7. (Optional) A budget calculator: this is the greatest tool you can have in your pocket when it comes to your business because it gives you a clear picture of where you stand financially. 

Small Business Budgeting Templates

In addition to the budget calculator mentioned above, a small business budgeting template is another great tool to have in your financial toolbox. A business budget template can be a table or a spreadsheet with multiple pages. Whichever of these you choose, make sure that:

  • You are choosing the right one for you
  • It’s something you will actually put to good use and not just leave on your computer or allow to get lost in a sea of paperwork on your desk
  • You are updating and creating your budget on a yearly basis
  • You are prioritizing regular quarterly and monthly updates

Virtual CFO is Here to Help

For all your business needs, Virtual CFO is here to help. We have highly qualified virtual accountants to help with your financial questions and concerns. Set up an appointment with us today to find out what we can do for you.

The focus of today’s blog is the best accounting software for e-commerce, and which features to look for to ensure you are getting the most out of your purchase.

Let’s jump right in:

What is E-commerce Accounting Software?

E-commerce software covers all of the e-commerce and cyber store-linked staples to ensure that your business is receiving appropriate taxing. 

As you go through the process of deciding which accounting software to use for your business, keep in mind it is smart to pick one that has a main focus on benefiting businesses that use e-commerce. 

Business owners who use e-commerce meet challenges that are quite easily solved when they pick the accounting software that is right for them. How do they choose the right software for them and their company? By close examination and comparison of the key features of each potential software program. 

The Top Features to Look For in E-commerce Accounting Software

When choosing the best accounting software program for you and your business, there are four crucial features to take into consideration and apply to your standards. 

  • Platform Integrations 

One of the best things you can do when choosing your accounting software is ensuring it combines nicely with your e-commerce platform as well as third-party devices such as the managing of contracts and the managing of payments to your workers. 

With the combining of these elements, your inventory levels, taxes, and collected compensations are automatically updated. 

  • Inclusive Reports 

Inclusive reports are documents that are more advanced than the elementary accounts that are found in most main accounting softwares. 

If you own a business that utilizes e-commerce, chances are your business requires development that is swiftly changing and evolving. Where reports are concerned, particularly those that deal with inventory, monthly and weekly reports are the best way to go. 

  • Sales Tax Inclusion

Taxes can be intimidating and stressful at the worst of times, but sales tax for online businesses can increase those factors ten-fold. This is where a good accounting software program comes in. 

When you choose the accounting software that is right for you and your business, make sure you select a program that is straightforward and easy to use. You also want to make sure that the accounting software makes the process of charging and book-keeping of taxes as simple as possible. 

  • 24/7 Technical Support

When you’re a small business and your accounting relies on a single piece of software, having support 24 hours a day, 7 days a week is crucial. A great way to evaluate the customer assistance of an accounting software company, or any software, is to pay close attention to the maintenance ratings and the reviews of customers who use the company’s software. 

Get Started with Virtual CFO

While we’re on the topic of support, let’s touch briefly on personal support. When you’re a business owner and you’ve worked hard to get your company off the ground, it’s hard to relinquish the reins of control and resist the temptation of doing everything yourself. 

Doing everything yourself means a quicker burn-out, a shorter fuse, and a harder time concentrating on what needs to be done. Let the professionals take the wheel instead to give you time to do what you do best – actually running your business.

Virtual CFO has virtual accountants to further streamline the e-commerce accounting process. Give us a call today.

Defined as accounting software that is held on an isolated server and not installed on your devices or done by hand, cloud-based accounting software is often the first thing people think of when you say “cloud-based”… and for good reason!

In this article, we’ll look at cloud-based accounting software and how it works, how to choose the right one, and how cloud-based accounting software streamlines your business when used right.

What is Cloud-Based Accounting Software and How Does It Work?

Cloud-based accounting software is software found on the Internet rather than on your computer’s hard drive. It is also commonly referred to as “online accounting software” or “web-based accounting software”. Whichever one you choose to refer to it as, cloud-based accounting software offers both flexibility and affordability, allowing you to focus on your needs both at work and at home. 

How does it work? In short, user data is sent to the cloud to be managed and, once this process is complete, the data is sent back to the user within minutes. 

Because it’s available on-demand on the Internet, you can access it on the go, making it particularly helpful for small businesses and/or mobile businesses.

The Benefits of Using Cloud-Based Accounting Software for Your Business

No matter your industry, there are a multitude of benefits to using cloud-based accounting software to keep track of your business finances. 

To name only a few, it is cost-effective, saves time, and is environmentally friendly. Paper trails such as receipts and invoices not only cost money, what with buying the paper and ink required to print these two business devices, but they also use a great number of trees. 

One of its biggest draws is its ease of use. By using online accounting services, the submission of receipts and distribution of invoices is made easier for you, your team, and for your clientele. Furthermore, this accounting software allows you to keep tabs on your account activity, namely heightened clarity and ensuring that your account funds are not exploited and used in ways that have the potential to harm your business. 

How to Choose the Right Cloud-Based Accounting Software for Your Business

There are a number of cloud-based accounting software available. Software like HubDoc, Plooto, and WagePoint are used primarily by small businesses for their accounting purposes.

Our number one choice for accounting software? Xero. Xero software allows:

  • Shared access to business numbers so everyone is on the same page
  • Connection to 500+ Xero applications
  • Customer connection: sending invoices and online payments
  • Link to your bank accounts
  • Tools like payroll, fixed assets, expense claims, budgets and complete financial reporting
  • The flexibility to log in on your Mac, Windows, iPhone or Android

This software is used by business owners just like you across North America and is easy to set up an account and start using right away.

How to Get Started with Cloud-Based Accounting Software

What’s the easiest way to get started with cloud-based accounting software? By working with a virtual accountant, of course.

Since virtual accountants are well-versed in software like Xero, they should be your go-to for frequently asked questions, tips on how to maximize your accounting software usage, and any troubleshooting concerns you may run into.

Once you’ve become familiar with cloud-based accounting software, you can use it anywhere that you can connect to Wi-fi. You’ll never go back to spending your lunch breaks going back and forth between the bank and the office, and if you have any questions or require assistance, a virtual accountant is just a phone call or text message away.

Start Using Cloud-Based Accounting Software to Streamline Your Business Processes Today

Now that you have more knowledge of what cloud-based accounting software is and the different benefits it can bring to small-to-medium sized businesses like yours, are you ready to use it for yours and save yourself time and money? 

Get in touch with us today to set up a consultation and find out how we can help you with your business goals.

Do you know which financial statements are important for investors?

If so, look no further– we’ve rounded up everything you need to know (including what investors want to see in those statements!)

The Types of Financial Statements Important for Investors

There are three types of financial statements that are important for investors:

1. The Balance Sheet

A balance sheet outlines the liabilities, assets, and general capital of a business at a specific point of time.

These financial statements are used to detail both the balance and the expenditure of a business.

2. The Income Statement

An income statement– also known as a “profit and loss statement– is a financial statement that orbits around a company’s revenues and expenses during a particular period of time.

3. The Cash Flow Statement

A cash flow statement provides data on all cash inflows and outflows, including business activities.

The three types of cash flow that this statement outlines are cash flow from operating activities, cash flow from financing activities, and cash flow from investing activities. 

What Investors Want to See In Financial Statements

Normally, there are four crucial aspects that investors want to see reflected in your business’s financial statements:

1. Remaining Revenue

A company’s financial statements reveal their remaining revenue, or their net profit. 

Frequently, a large number of business owners do not have a solid comprehension of the remaining revenue for their company. The question of whether or not a business is making money is the first question out of an investor’s mouth, and that’s only the beginning. 

2. Transactions 

 The transaction between customer and provider is an important one. If you have a product or service that you’ve worked tirelessly to bring to life and make amazing, you want to be sure that people will be interested in buying it. 

Err on the side of caution and make sure you are not bolstering a sales track record before looking for potential investors. 

3. Margins 

If you aren’t making money, sales don’t mean anything– and that’s the cold hard truth. In addition to remaining revenue and transactions, investors require your overall profit margins as well as at a specific level for the product.  

Investors will also evaluate your margins and whether or not they are against your chosen industry’s benchmarks, as well as other investment opportunities that are accessible. 

4. Debt 

This is a word we are all aware of and we all know what it means. It scares all of us, and can be the cause of a lot of sleepless nights. For investors, the word “debt” and what it means is even more scary. 

If a company goes out of business, debt holders receive their money first before investors can lay claim to the remaining money, if there is any. 

Contact Virtual CFO Solutions Today for Remote Help How You Need It, When You Need It

For all your financial questions and ensuring the success of your business, reach out to Virtual CFO today to find out how we can help.

You may have heard that a cash flow statement is important for your startup, but how much do you know about the ‘why’ of it?

As experts in the field, we here at Virtual CFO Solutions will be outlining what a cash flow statement is, why it’s important, and, of course, how our team of virtual accountants are here to help.

Firstly, What is a Cash Flow Statement?

A cash flow statement (CFS) is a financial statement whose purpose is to synopsize the movement of cash and cash equivalents that are filtered in and out of a company. The CFS determines a company’s management of its finances, which in turn is defined by how well the company makes money to pay off its debts and financially support its working expenses. 

The cash flow statement paints a picture for its users as well as investors, the latter because they are able to determine if a company has a solid financial standing. 

It shows operating activities that may include: 

  • Revenues from transactions of goods and services
  • Interest payments
  • Payments from income tax
  • Rent 
  • Employees’ salary and wages
  • Other kinds of working fees 

While a cash flow statement evaluates a company’s performance, it is not easily influenced by non-cash transactions and their organization. 

The Importance of a Cash Flow Statement

Now that we’ve defined what a cash flow statement is, let’s take a look at why they’re so important for startups.

When it comes to your startup, there are three vital financial reports: the cash flow statement, the income statement, and the balance sheet. These three documents are used by investors, lenders, founders, and managers  to accurately evaluate the startup’s financial well-being and success.

Some benefits of using a cash flow statement include: 

  • Confirming your productivity position
  • Validating your liquid assets position
  • Verifying your principal money position. 
  • Aiding in better management of your money both now and in the future

The next step to consider is when a startup should make a cash flow statement. The answer? The sooner you make a cash flow statement, the better.  Your cash flow statement records any preliminary cash contributions made by founders as well as small business loans, so the best time to create yours was yesterday– and the next best time is now.

Virtual CFO is Here to Help

At Virtual CFO, we offer the advice and help startup businesses need to ensure their financial success, and by extension the long-term attainment of their business. We can help build your budget, as well as provide help in the fundraising stage, which is when you are considering the best type of investment for your business. 

Enlisting the services of an experienced accountant to help you traverse through the financial reports of the balance sheet, the income statement, and the cash flow statement is crucial to having a solid understanding of the financial outflow of your startup. After all, when you have your finger on the pulse of how your business is performing, you’re able to plan accurately for expansion into further markets or the hiring of new personnel.

Our team of virtual accountants are ready to help you with all your financial needs. Get in touch with us today to get started.

Every startup out there has one thing in common: they all want to grow. But while growth is the goal, it also comes with its own challenges, such as when and how to bring in new talent. Strategic hiring is critical in every business, but especially those with budget restraints. 

A CFO can help with strategic hiring for startups by offering data-driven advice around when to hire, as well as around what to offer new hires. This can include guidance on wages, benefits, and other perks. Ultimately, CFOs can provide financial leadership to help startups make better informed decisions around all areas of growth, including hiring.  

CFOs & When To Hire

Like we said, startups are eager to grow. They want to move out of the startup phase as quickly as possible, and this typically requires more people. 

But given that payroll and associated expenses are typically a company’s biggest expense, knowing when to actually hire is a delicate balance. Just because it might be helpful to have a few extra hands around, that doesn’t mean you can afford to pay them. 

Presumably, your CFO will help you build a budget for your startup. This budget will be a jumping off point they can use to help determine when is the right time to hire new staff. Alternatively, they can help your startup determine whether it makes more sense to hire new employees or contractors right now, which is insight that can prove invaluable. 

CFOs & How To Hire

Maybe you’ve made the decision to hire … but now what? What can you afford to offer in terms of salary and benefits? What can you afford not to offer? As we all now know, we’re in the middle of the Great Resignation, and it is absolutely an employee’s market. The only way to attract and keep top talent is to offer the most competitive compensation you can afford. 

And the best way to figure out what compensation you can afford? You guessed it – a CFO.  The right CFO can help you determine the right salaries, raises, bonuses, health care plans, and other benefits for all your employees. 

The Right CFO For Your Startup

We get it. Money is often tight for young companies. You might be at a stage where you’re unsure about even hiring a CFO, let alone hiring anyone else. 

Remember that a CFO can do more than help with your strategic hiring. They can also assist with fundraising, help you transition to cloud-based accounting, figure out whether to pay yourself in dividends or salary, and determine if or when to incorporate your startup.

In other words, CFOs are essential to helping your startup grow, which includes guidance on strategic hiring. 

If you’re still unsure about your needs, see our guide to when startups should and should not hire a CFO here.

As a Virtual CFO, we work with companies of all shapes and sizes, but we have a passion for startups, especially tech-based startups. We’re a startup ourselves, so we have special insight into how to help you stay in control of your finances, improve your cashflow, and keep investors happy.  We also offer fractional and part time virtual CFO, which can be especially helpful for startups. Contact us today to learn more.

Since the start of the COVID-19 pandemic, working from home has become a normal occurrence. 

We traded in in-person meetings for Zoom calls, work attire for sweatpants and hoodies, and waiting in traffic for no commute. While these lifestyle swaps are great for some, the question it leaves many workers with is: “How do we establish a regular working routine at home while balancing our daily lives?” After all, when you can no longer leave work at the office, suddenly your home life is permeated with meeting reminders, due dates, and more.

In this article, we’ll delve into the tools that you need to help you create work-life balance while working from home (and how to figure out what kind of workflow works for you.)

Manage Your Time

Time management is crucial in all other areas of our day-to-day routines, and it’s no different when you’re learning how to create a work/life balance while working from home. 

When you work from home, you’re free to set your own hours and make those work around family time, exercise, errands, and other day-to-day tasks. The freedom to set your own hours, however, does not mean that you should slack off and work for less time than you said you were going to! If you said you were going to exercise for an hour in the morning and then settle down to work, stick to your plan. Time management tips can be helpful in structuring a work-from-home schedule for yourself so that neither your personal time nor your work time suffers.

Another important part of time management for working from home is taking breaks throughout the day, even if your breaks are only five-to-ten minutes. You have to take those breaks to stay focused and keep your stress levels to a minimum. Encourage your team to do the same. Good mental health, both yours and your team’s, will have better performance results. 

Lastly, our final time management tip is organization and keeping track of what needs to be done each day. A planner or a large laminated day calendar can help with this, as they allow you to check things off your to-do-list. 

Protect Your Space

When we say protect your space, we mean have a designated area of your home that is reserved solely for work purposes. 

A designated workspace at home should consist of your computer, pens and paper, and your planner. Leave your phone and any other distractions in separate areas where you will not be tempted to look at them. 

Other ways to protect your space include:

  • Putting up signs when you’re working to minimize interruptions
  • Selecting a room with a door vs an open floor plan for your home office
  • Having a separate work phone that you securely store at the end of each day

Stay Connected

Especially when you’re working remotely, staying connected is non-negotiable when it comes to a successful business.

Why? Because no one works in a silo: teamwork, trust, and open communication is paramount.

A good way to build a connection and relationships between your team members is having a weekly just-for-fun check-in. Send out an invite for an optional virtual Friday happy hour to catch up and celebrate another successful work week to build your team’s relationships with each other (and with you) even further. 

Outsource What You Can

If you’re the showrunner of your company, you have a lot of responsibility. This can result in a higher level of stress than you would like. 

This is where outsourcing comes in, particularly for the financial side of your business. After all, you’re already juggling working from home: why would you want to add more onto your plate?

Here at Virtual CFO, we help by:

  • Building a strong financial foundation for your business
  • Strategize with you in terms of both short-term and long-term business scaling
  • Handle everything to do with the finance and accounting aspects of your brand
  • …And so much more

Integrate These Tips to Create Work-Life Balance While Working From Home (Starting Now!)

Need more advice on striking that ideal work-life balance?

Visit us today to learn more about the tips and tricks we offer for working from home, as well as how we can help you find the right home workflow.

You probably started your company because you have a unique product or passion to share with the world – and not because you’re a fan of budgets and spreadsheets. Yes, you can – and likely should – hire a CFO to handle the nitty-gritty of your finances. But it’s still important to understand some of your Key Performance Indicators, or KPIs. 

Net income and EBITDA are two important KPIs that measure financial performance. It’s especially important for startups to understand the difference between the two, and to know when to use them to measure their financial success.

We know – there’s a lot of ‘alphabet soup’ to learn in the world of finance. Here’s the basics you need to understand when it comes to net income and EBITDA. 


EBITDA stands for ‘Earnings Before Interest, Taxes, Depreciation, and Amortization.’ It sounds like a handful, but it’s a pretty basic concept.  In brass tacks, it’s a measure of the profitability of a company. In other words, it’s how much money a company brings in, before accounting for any of its expenses: depreciating assets, amortization, cost of revenue, overheads, and interest. 

Think of it like when you were a kid with a lemonade stand. When you counted out your nickels at the end of the day, that was the only number you cared about, right? You didn’t think about how much your mom spent on the lemonade and cups, or how much time you had to spend in the hot sun. You were only counting your EBITDA.

Net Income

On the other hand, net income (or net earnings) are your company’s income after accounting for all those expenses EBITDA ignores. It’s all the money brought in, minus all the money that goes out, to the cost of goods, general and admin expenses, operating expenses, depreciation, interest, taxes, and the like. 

Going back to our lemonade stand example, you’d care more about your net income if your mom actually made you pay her back for the lemonade, or if you have to split your earnings with the next door neighbour who helped you out all day. 

The Right KPI for Your Startup

Like with most KPIs, there are times when it makes sense to use either net income or EBITDA, and times when it doesn’t. 

Remember that EBITDA measures the pure profitability of a company. For this reason, it can be an extremely helpful KPI for startups, which are often looking to maximize sales, and may also be more susceptible to uncontrollable factors, given their tight budgets. Understanding your EBITDA can be great to keep track of growth. 

That said, EBITDA can also overstate cashflow, so it shouldn’t be the only KPI you track. That’s why net income, which ultimately calculates earnings per share, if often a better KPI for more established companies. 

The reality is that each company is unique, and navigating this ‘alphabet soup’ of finances is best done with the right guidance. In other words, CFOs are often in the best position to help you determine which KPIs are right for your startup – along with how to track them. 

We offer monthly KPI Metric Reviews in some of our virtual finance packages, including guidance and support to help you understand your data and best use it to make informed decisions. Contact us to learn more.

Saving money is always the goal for any smart business, and there hasn’t been a time in recent memory when sticking to tight budgets has been more important. Given the current realities of the pandemic, the ‘Great Resignation,’ and our increasingly competitive markets, making good financial decisions has never been so make-or-break. 

From helping you set up a smart budget and understand your financial statements, to measuring the right KPIs and helping founders make the right decisions and avoid burnout, there’s really no question that you need a financial expert on your team. You can’t separate out sound business decisions from sound financial decisions.

Of course, especially if you are a small company or new startup, then hiring a full-time, in-house CFO or financial advisor may simply not be in the cards. The solution? Take your finances online—because there are so many money-saving benefits to taking your accounting virtual.

The Money-Saving Benefits of Taking Your Accounting Software Virtual

It’s 2022. That means it’s time to take your accounting virtual. 

Specifically, that means you should be using cloud-based accounting software, because it is an affordable and accessible option that is often more user-friendly and sustainable. 

When you choose the right software, it will still be powerful enough to help your company grow.  Moreover, cloud-based software is something you can access anywhere you have Wi-Fi. That means you don’t need to pay for a hard drive, and all the related expenses that go along with it, leading to even more money-savings.

We love working with Xero, because it’s online accounting software that is easy for our clients to use (among many other great features). 

Otherwise, we have the following recommendations, based on your company’s size and goals:

The Money-Saving Benefits of Taking Your Accounting Services Virtual

Online accounting software is great, but it only goes so far. You still need someone who knows how to use it to guide better financial decisions for your organization. For example, do you need employees or contractors? Do you need to hire new staff? Is it time to incorporate your business – and if so, how will you go about doing that?

And of course, we haven’t even touched on paying tax installments, understanding net income vs EBITDA, or understanding any of the other complex questions about cash flow and paying your taxes properly.  

In other words, no company can succeed without a financial expert on their side. But of course, paying a full time CFO or comptroller can get expensive, fast. 

That’s why you should take advantage of the money-saving benefits of virtual accounting services! When you are a startup or smaller company with tight finances, it usually makes so much more sense to work with a part-time Chief Financial Officer or Controller who manages the finance and accounting function of a business virtually.

You still get all the bookkeeping, financial reporting, strategic planning and cash management you need—but at a level and price that makes more sense for your current reality.

We’re committed to helping you build a strong financial foundation that will let you scale your business. We are a CPA registered accounting firm, but our services are a bit different than your average firm. Our focus is on assisting companies with the operational and reporting side of accounting on a monthly or weekly basis, not an annual one. We keep a working relationship with our clients and act as their virtual finance team so that all aspects of their accounting cycle and reporting are taken care of each month.

We offer a variety of virtual accounting services that are customizable to fit your current needs and budget. Please reach out to learn more.

All hail the startup. Startups drive innovation, advance technology, create new opportunities, and help open up new markets. In other words, we need them! But startups are also incredibly challenging to start and to run, requiring someone with a lot of talent, a lot of confidence, and a ‘do-it-all’ mentality. 

A ‘do-it-all’ mentality is important for the founder of any startup, but the best business leaders know when to ask for help. Because financial, budgeting, and tax questions are often quite complex and critical to your overall success, getting outside help for your startup finances is almost always a smart decision.

5 Reasons Why Virtual CFOs Are The Perfect Solution For Your Startup

1. Virtual CFOs Can Help Build Your Budget

Anyone running a startup will quickly discover one simple rule: you can’t succeed without a good budget. Budgets help you plan for the future, identify areas of growth, and ultimately keep your startup running smoothly. 

Specifically, a CFO can help you make and track a startup budget that will help you better understand your expenses and your revenue streams, plan for the future, and prepare for any scenario. 

2. Virtual CFOs Can Help You Make Better Decisions

Should you pay yourself in dividends from your startup or a salary? Do you need employees or contractors? When should you hire new staff for your startup? And is it time to incorporate your business? 

You likely started your company because you’ve got a big vision, and a great product or service. That doesn’t necessarily mean you’re a financial wizard or a numbers geek. Working with a CFO can help fill in any gaps in your financial knowledge, which can have a big impact on your bottom line and overall sustainability. 

3. Virtual CFOs Can Help You Identify The Right KPIs

Similarly, startup success is due in large part to measuring and improving the right Key Performance Indicators, or KPIs. In order to work, KPIs need to be in line with your short and long-term business goals. You also need to be able to track them regularly, as well as understand what they’re actually telling you. Unsure how to do this? Let a CFO use KPIs to measure (and ensure) your business success

4. Virtual CFOs Can Help You Avoid Burnout

There’s a lot of hustle when it comes to running your own startup. And with hustle, comes burnout. We bet you like to think you can do it all, but the reality is that founders need to be proactive in organizing their team and their workflow in sustainable ways. Burnout is never a viable, long term solution. 

One of the best ways to avoid burnout as a business owner? Delegate, delegate, delegate. And one of the best things to delegate? You guessed it – your finances. 

5. Virtual CFOs Are The Affordable Option

So far, we’ve covered why CFOs in general are so critical to startup success. But startups are typically working on small budgets and trying to cut costs wherever possible. Hiring a full time, in-office CFO may simply not be in the books.

Enter the Virtual CFO! Finding a virtual CFO is a great option to get someone working on your finances at a fraction of the cost (but without any less commitment to your startup!). 

We offer virtual CFO services to many startups, along with part-time and fractional CFO services. In other words, we have a variety of great options to match a variety of budgets.  Contact us to see why we’re the perfect solution for your startup.