Your Own Growth Virtual Finance Director
Did you start your business from the kitchen table, or equivalent like many people do, based on your technical skills?
As it transitions from a small business into a larger business you can see it faces different challenges, such as introducing new team’s, re-defining processes, implementing new processes & adhering to the added legislative burdens.
You can see it faces different challenges & realise that you need business advisors to get through the next stage of growth, but where do you get that professional advice?
To help you we have developed our Virtual Finance Director (VFD) services to help your business transition to the next stage of the journey.
Step 1
The first step is to understand the strategy of the business & make sure you document this. Although you know what you want the business to achieve, you need to be able to articulate it to you team & usually to external finance providers.
We can work with you to craft a detailed strategic plan, that you understand & can work on, which focuses your & your team’s attention on the key areas critical to success.
Step 2
Just like an in-house Finance Director (FD), we can work with your team to set an annual budget in alignment with your business plan. It is important that key management is involved in this process, so that they take ownership of their respective part of the business.
Step 3
Monthly management accounts to stay on track, we also prepare a rolling cash flow forecast & provide key financial insights into the business performance.
We then discuss these at meetings to ensure that your management team have a full understanding of how things are going, & how they compare to the plan.
A good VFD can use their practical knowledge to give proactive advice to ensure that the financial direction of the business remains aligned to the long-term plan.
Why should you outsource a FD role?
When your small business is in the start-up or growth stages, every penny counts. so, an in-house FD is often an expense you just can’t afford.
By outsourcing your finances you’ll benefit from our financial expertise on a part time basis, you can make the most of our expertise, knowledge & previous experience on a budget.
You can also get the support you need at each stage of your business growth & increase or decrease our help as and when you need it.
What are the benefits of a VFD?
The main benefit of having a VFD is visibility of where your business finances are & how they correlate to your future plans.
Our outsourced VFD services include:
Business Plans & Funding Forecasts
Annual forecasts
Management accounts
Ongoing meetings with you
Ongoing meetings with your team
Corporate Finance Services
Financial awareness training
We can work with you to deliver the services that you need.
If you find this interesting and want some more help, why not book a meeting to see what we can do for you?
