Do I Need a CFO? Signs Your Business Is Ready for Financial Leadership

Part 2 of the “CFO Basics” Series

In Part 1 of this series, we explained what a CFO is and what they actually do. (Spoiler: it’s a lot more than just crunching numbers.) Now that you know the basics, you might be wondering: Does my business actually need a CFO?

That’s exactly what we’re unpacking in this post.

The truth is, there’s no magic revenue number or employee count that says “now’s the time.” But there are clear signs that indicate you’d benefit from CFO-level support—even if it’s on a part-time or fractional basis.

1. You're Making More Money… but You're Not Sure Where It's Going

Revenue is up, sales are happening, but somehow there's still never quite enough left over. Sound familiar?

If you're not confident about your margins, your cost structure, or your profitability by product, service, or location, a CFO can bring that clarity. They’ll help you identify what’s truly driving your bottom line—and what might be quietly draining it.

2. You're Facing Big Financial Decisions

Thinking about hiring? Expanding into new markets? Investing in equipment? Bringing on a partner?

These decisions have long-term financial consequences. A CFO can model different scenarios, assess the risks, and help you move forward with confidence.

3. Cash Flow Keeps You Up at Night

You might have great sales on paper but still feel the constant pressure of making payroll or covering monthly bills. Cash flow issues are one of the most common pain points for growing businesses—and one of the most fixable with the right strategy.

A CFO will implement cash flow forecasting, help you smooth out seasonal dips, and work with you on payment timing, inventory strategies, and financing if needed.

4. Your Business Is Growing Faster Than Your Systems

Rapid growth is exciting—but it can also create chaos. Financial reports become harder to interpret, bookkeeping gets messy, and your accounting software starts to feel like duct tape.

A CFO helps build scalable systems so your financial foundation grows along with your business. That includes improving reporting, integrating inventory or billing platforms, and setting up KPIs (key performance indicators) that truly matter.

5. You Want to Plan for the Future—Not Just React to the Past

If you’re only looking at last month’s financials (and often wondering what went wrong), you’re stuck in reactive mode. A CFO shifts your perspective to the future with forecasts, budgets, and strategic insights that help you steer proactively—not just put out fires.

6. You Want to Raise Capital or Secure a Loan

Banks and investors don’t just want numbers—they want a narrative. A CFO will help you tell the right financial story, backed by accurate, compelling data. From pitch decks to lender packages, your CFO becomes a trusted guide in the fundraising process.

What If I'm Not Ready for a Full-Time CFO?

That’s completely normal—and where our CFO services come in.

At You Need A CFO, we specialize in providing strategic financial leadership at a fraction of the cost of a full-time hire. Whether you need help a few hours a week or on a project basis, you can get the same expertise—tailored to your stage and budget.

Up Next in Part 3…

Now that you know when to bring in a CFO, we’ll show you exactly how a CFO delivers measurable value—with real-world examples and outcomes you can expect.

Curious whether your business is ready for a CFO?

Take our free quiz or book a free 15-minute call to talk it through. No pressure, just practical insight.

What is a CFO—and What Do They Actually Do?

Part 1 of the "CFO Basics" Series

If you’ve ever wondered what a CFO is, you’re not alone. Many business owners are so focused on running day-to-day operations that the idea of having a “Chief Financial Officer” sounds like something only Fortune 500 companies need—or can afford. But here’s the truth: the right CFO can be a game-changer for companies of all sizes.

In this first post of our CFO Basics series, we’ll break it down from the very beginning: what "CFO" stands for, what a CFO actually does, and why understanding this role can help you make better decisions for your business.

What Does “CFO” Stand For?

“CFO” stands for Chief Financial Officer. It’s one of the most senior leadership roles in a company, typically sitting alongside the CEO (Chief Executive Officer) and COO (Chief Operating Officer).

Think of the CFO as the person steering the ship when it comes to anything involving money in your business: past performance, current operations, and future financial strategy.

So… What Does a CFO Do?

At its core, a CFO helps you understand your money so you can run your business with clarity, confidence, and control.

Here are the core responsibilities a CFO typically handles:

1. Financial Strategy

A CFO doesn’t just look at the numbers—they interpret them. They help you set financial goals and develop a roadmap to get there. Whether it’s scaling your business, managing cash flow, or preparing for investment, your CFO is your strategic advisor.

2. Cash Flow and Forecasting

A CFO ensures your business has enough cash to operate—not just today, but next quarter and next year. They build forecasts so you can plan ahead and avoid surprises.

3. Reporting and Analysis

Ever wonder if you’re really making a profit? A CFO turns raw financial data into clear reports that help you understand what’s working, what’s not, and where to focus.

4. Risk Management

A good CFO helps identify financial risks and puts systems in place to protect your business—whether from overspending, fraud, or unexpected downturns.

Do I Need a CFO If I Already Have a Bookkeeper or Accountant?

This is a common question—and a really important one.

• A bookkeeper tracks daily transactions and keeps your records organized.

• An accountant ensures compliance with tax laws and helps you file returns.

• A CFO takes all that information and uses it to help you make smarter business decisions.

If your business is growing—or you want it to grow—it might be time to go beyond tracking numbers and start using them strategically.

Why This Matters for Small and Midsize Businesses

CFO-level support isn’t just for big corporations anymore. CFOadvisory services (like what we offer at You Need A CFO) make it possible for smaller companies to access high-level financial expertise without the full-time cost.

Whether you’re looking to boost profits, manage complexity, or just sleep better at night knowing your finances are under control, understanding the value of a CFO is a powerful first step.

What’s Next in This Series?

In Part 2, we’ll explore when a business typically needs a CFO and what signs to look for that indicate you might be ready.

And in Part 3, we’ll cover how a CFO drives real value, with examples of the impact a CFO can have across different industries and business stages.

Want to learn more about how a CFO could support your business?

Let’s talk—schedule a free consultation and we’ll help you figure out what makes sense for your stage and goals.

You Need A CFO is Headed to The Business Show Miami! Here’s What to Expect

You Need A CFO Is Headed to The Business Show Miami Beach 2025!

Mark your calendars! You Need A CFO is officially exhibiting at The Business Show, one of the world’s largest and most impactful events for entrepreneurs, small business owners, and innovators—happening May 7-8, 2025 at the Miami Beach Convention Center.

After decades of success across London, Las Vegas, Sydney, and Singapore, The Business Show is bringing its high-energy, U.S.-tailored edition back to Miami—and we’re thrilled to be a part of it.

🗓️ Event Details

📍 Miami Beach Convention Center
📅 May 7-8, 2024
🎟️ Grab Your FREE Ticket Here

What to Expect from The Business Show

This is more than just another expo. It’s a global hub for innovation, learning, and real-time connection. Here's what’s in store:

✅ 300+ Exhibitors showcasing the latest in tech, marketing, finance, and operations
🎤 Seminars & Masterclasses from powerhouse brands like PepsiCo, Red Lobster, Miami Heat, and more
🤝 Speed Networking Sessions to build powerful partnerships fast
🌐 Co-Located Events including B2B Marketing Expo US, White Label World Expo, and Going Global Live

Whether you're launching your business, ready to scale, or looking for partners—you’ll find your people here.

Visit You Need A CFO at Booth B742

We’ll be set up at Booth B742, right next to the Speed Networking area, and we’ve got a lot to share with you.

Here’s What You’ll Find at Our Booth:

• A First Look at Our Brand-New CFO Service Packages

• Exclusive On-Site Upgrades for event attendees only

• Free 15-Minute Consultations to talk strategy face-to-face

• A Giveaway You Don’t Want to Miss
  🎁 Enter to win a Stanley + JBL speaker bundle
  (You must be present at the event to enter)

Whether you're a solo founder, startup, or growing team—You Need A CFO is here to help you make smarter financial decisions, build confidence in your numbers, and scale with strategy.

Why This Matters for Your Business

Financial clarity is the difference between reactive survival and proactive growth. At You Need A CFO, we offer flexible, fractional CFO services that bring strategic insight without the corporate price tag.

And now, we’re rolling out brand-new packages—unveiled exclusively at The Business Show Miami. This is your chance to meet us in person, ask questions, and see how working with a CFO can transform the way you grow.

Don’t Miss Out

The Business Show is free to attend, but you still need a ticket to enter.
👉 Claim yours here

Let’s Connect

If you’re ready to stop guessing and start scaling with strategy, come see us at Booth B742.
We can’t wait to meet you, hear your story, and show you how You Need A CFO can be your partner in growth.

👉 Learn more about our services at youneedacfo.com

Follow us:

Facebook: FB.com/nowyouneedacfo

Instagram: @youneeda_cfo

X: @youneeda_cfo

Selling relationships

Two things that really appeal to me are story and relationship. Couple them together and you have a very powerful combination.  Over the years, the clients I enjoy working with the most have a great story. This story can be their product but not always.  Sometimes, it’s the entrepreneurs personal “why” or what they overcame, against the odds, to get to the point where they are! Possibly, the client is working on a new drug to conquer a previously incurable disease, but just as likely is a grown child of a parent who worked two jobs to keep the lights on and food on the table.  Even more often, it’s just someone doing the ordinary in an extraordinary way.  The one thing they all have in common is that they all have a story! And in that story, the business owner is the HERO! Why? Because the only reality that any of us can know is first person! Everyone else is just a character in that reality! 

To you, You Need a CFO is simply a character in YOUR story.  We act as a guide along your journey, a resource.  Although we have knowledge and experience involving most situations you may encounter, we have found the vast majority of gains come from structure and intentionality through a collaboration in utilizing our services.  Through our structured guidance we will regularly review, monitor, and adjust as needed. This regular dedicated time is a simple but highly effective method to obtaining the business you want.  

Simple, but not easy, is a key concept of life.  If we are trying to lose weight, eat healthier, or get more sleep, all of these things have very simple solutions but NOT very easy solutions!   In relationship, using our collaboration method, we are able to help you state your goals, clearly see what these goals will take to accomplish, and get your buy-in to the those goals.  Along with this, we develop metrics, procedures, and controls so that the output of your business and the efforts of your staff are your goals!  

The highest and best use of relationship and story is shared experience.  At You Need a CFO, through shared experience, we want to help you achieve your desired outcome, visibility into your practice, or dedicating your focused energy right where it is needed. Relationship allows us to do more, do better together and that’s why…You Need a CFO!

What type of CFO do I need?

It should come as no surprise that there are different types of CFOs, but perhaps you have never thought about it that way.  I worked for a CEO once who had experience with a lot of different venture capital entities. He said there are different stages of a company, where the CEO is guiding the Company with a singular vision to get the Company to the goal.   These stages are proof of concept (is there a market for your product?), revenue generation, net profitability, one million of revenue, one hundred million, & then public offering.  He then said something that struck me powerfully, he said each stage of CEO is a different guy! After hearing this it’s one of the most striking characteristics of the leader.  

Similarly, there are different types of CFOs.  In addition to size (or stage) of company, many CFOs will have specific insight into different size companies or of a certain niche, group of niches, or types of companies.  Certain CFOs may specialize in taking companies public, taking companies private, or working with inventory or logistics. 

Beyond these obvious differences, there is one more crucial distinction that we must talk about.  The two main types of CFO services are strategic advisory and fractional services. The latter, fractional, is comprised of an individual that works with a very limited number of companies in a very direct and often operational capacity. This type of CFO is in constant contact with management and staff of the company and is an integral part of the operations. This can be very beneficial for companies trying to build structure for growth and/or those who may be close to hiring a full time CFO.

The second type of CFO service, and that is what we focus on, is CFO advisory.  Under this service we help develop a strategic plan, develop a budget and a rolling forecast, identify and monitor drivers, and set up a dashboard for you to track your metrics.   We will meet monthly to evaluate how your metrics track to your goals, make adjustments to that relationship, and discuss scenarios whereby driving results towards your goals.  Regardless of the type of guidance, it is a critical part of your business and that is why..you need a CFO!

You Need a CFO

The first blog post reminds me of an anecdote I’ve heard many times related to music. A band gets discovered and prepares to publish its first album. The band has been working on its music for years, narrowing a catalog of work down to just eight songs. Naturally, those are going to be the best eight songs, making the album akin to a greatest hits collection! Then comes the record deal, and their contract requires them to create eight new songs within a very compressed timeframe. The second album comes out but doesn’t receive the same acclaim. Is that really how it works?

As this is my first post, I want to share thoughts I’ve been reflecting on for years. However, my thinking is rooted in abundance. With an abundant mindset, I believe creativity doesn’t run out, nor is it rationed over time. The more you create, the more creative you become.

My worldview is based on the Bible, which teaches that we are created in the image of a being who speaks the language of reality. God speaks things into existence. As reflections of this, we were made to create, and our capacity to do so is endless. Therefore, creativity begets creativity!

One deep spiritual principle I’ve observed repeatedly is that you attract not what you want, but what you are. Creativity is no exception. The more you exude creativity, the more it flows to you.

Many years ago, I worked in the timeshare division of a Fortune 100 hospitality company. I was making very good money, loved my job, and respected the management. One day, during a conversation with my boss, he mentioned that he could earn much more by adding value to multiple companies. I was shocked! That path had never occurred to me, and in my mind, I interpreted it as “time-share CFO services.” At that moment, it felt as if I had invented the concept.

Of course, that’s far from true—I’m not even sure if I was the one who came up with the idea. Maybe I just understood what my boss was explaining. Regardless, the concept resonated so deeply with me that it felt like my own. Over the years, I’ve been able to build upon it, refine it, and make it my own.

This brings me to the two main points of this post: first, why you need a CFO, and second, why a fractional CFO is the best investment for your small company.

1. Why you need a CFO:
   For most small companies, a full-time CFO is unaffordable. Yet many entrepreneurs desperately need the perspective of a financial professional. Companies with financial guidance have a far higher success rate. With a CFO and a CEO (Chief Entrepreneurial Officer), your company begins to form a board of directors that drives focus and strategic thinking. As a CEO, you need intentional time and people to pull you out of 24/7 problem-solving mode.

2. Why a fractional CFO is the best investment:
   My boss could have earned far more by creating greater value. When I work with clients on a fractional basis, I learn their systems, address their challenges, and provide tailored guidance. I gain almost a year of experience with each client, as if their business were my full-time job. Multiply this by a dozen or more clients annually, and you can see why fractional CFOs bring the equivalent of hundreds of years of experience.

As my client, you benefit from this collective experience and my network of resources, which provides deep knowledge and unique perspectives on countless issues. Whether your business is in its early stages or scaling up, the combination of broad expertise and cost efficiency makes it clear: YouNeedACFO.