The more your business grows and the greater the investment in it, the more complex it becomes to manage. That’s where the Venture CFO (vCFO) comes in. This is an advisor with board-level experience as a Chief Financial Officer.
Think of them as a ‘risk navigator’, someone who’s been around the financial block a few times and who knows how to sail the stormy seas as well as the calm ones.
On your behalf they act as a venture Chief Financial Officer. A person who works alongside you and whose eagle eye is focused on the financial intricacies of the business. They provide strategic and practical advice as well as hands-on solutions to any problems that need resolving.
Depending on where you are in terms of investment and growth, the vCFO is a flexible addition to your team. They can act as a mentor to whom you talk to regularly or, if you are completing a funding round or approaching an Exit, they can be more heavily involved.
Investing in a vCFO has numerous advantages. Whilst they focus on cash flow, management information and ways to accelerate growth, you have more time to focus on things such as product development, sales and investor relations.
As an operational fixer the vCFO is invaluable, they ensure the financials whirr smoothly and give you confidence in the future – all for a fraction of what it would cost to hire a full-time CFO.