BUSINESS ADVISORY
Reach Your Goals with Business Advisory Services
As a CFO for small businesses and emerging enterprises, our role is to help develop a financial path that aligns with your vision and goals. Our business advisory services are based on our proven process to make your vision a reality. We take a hands-on approach and help you get transparency about all your business functions.
We create measurable data with quarterly, monthly, and weekly KPIs for each team member. Along with structured weekly meetings, we can gauge whether your team is functioning at their best potential to reach your goals. We can also identify where team members do not have clear processes to assist them in their tasks.
Table of Contents
The Entrepreneurial Journey
Why business owners turn to our CFO services
Phase 1: Getting Started on Your Business Journey
The first phase of the entrepreneurial journey starts as a business plan. If you’re like most entrepreneurs, you work hard juggling many aspects of your business and soon the journey feels a lot like a roller coaster. Many challenges arise and you’re split between responsibilities like budgeting, cash flow management, raising capital, taxes, and much more!
You feel like you’re losing control over all the aspects of your business. Profitability and service quality start to become your biggest challenges.
Phase 2: Realizing You Need Assistance
Most business owners don’t know where to begin turning their business plan into processes and measurable data to reach their goals. As a small business owner or CEO, you’re looking for ways to get a handle on all the moving parts – and people!
This is where our team of CFOs & management consultants can help with our business advisory services. We assist you in stabilizing your accounting, clarifying your organizational goals and seeing your vision through.
Phase 3: Implementing Business Advisory
To succeed in business management, we have to empower and support the team around us. We call this business management engineering.
If you want to succeed through the ups and downs of this entrepreneurial journey, you have to build an organization that runs interdependently with the vision of the business owner or CEO. As outsourced business advisors, we help execute your vision through a very structured Entrepreneurial Operating System called EOS. We use this system in our own company and it has helped us achieve steady growth over the last ten years. When your small business or emerging enterprise makes use of our outsourced CFO services, we work in synergy with the whole team to ensure that everything is on track on a weekly or even daily basis.
Our Typical Business Advisory Journey
6 Steps to Success
Step 1: A Shared Vision
Many times entrepreneurs want to dive directly into financial forecasting and projections. However, if you truly want to advance your company efficiently, we can’t start there just yet.
Before we can start forecasting, we need to have a clear vision of who you are, where you are, and where you want to be.
We need to identify your organization’s core values, core focus, long-term goals and what makes your company unique. This lays the foundation for the next steps.
Step 2: Identify the Right People
Once you have a crystal clear organizational vision and goals in place, you then need to have clarity as to who is responsible for executing these goals.
When organizations are in their early stages, they typically do not have the capital to have a different person fill every seat in their accountability chart. The result is that people will wear multiple, different hats and we find teams constantly stepping on each other’s toes.
To have accountability and clarity within each other’s roles and responsibilities is imperative for success, as everyone needs to have their own scorecards and KPIs (key performing indicators).
Step 3: Implement Data Tracking
Traditionally business owners primarily rely on their profit and loss statements to indicate their organization’s health and assist with financial forecasting. The main issue with this approach is that when you review these metrics at your quarterly or annual meetings, it is too late to make effective adjustments.
So to become a more agile organization, we help you create activity-based measurable scorecards that can quickly help you gauge how your business is doing.
Step 4: Tackling Issues
When you have a clear vision, the right people in place, and measurable activity data, you will soon begin to uncover issues that you had no idea were a factor.
Our CFO services will help you create an organization where you have a culture of recording and tackling issues to remove the obstacles that can inevitably hold you back.
Before you can discuss and solve the issues, you first have to identify the root cause as often the issue is only a symptom of a bigger problem.
Step 5: Business Process (Re)Engineering
Once you have an organization where everyone shares your vision and utilizes measurable data to uncover growth hindering issues, it’s time to create consistency. Consistency is a huge key to any organization’s success because, with consistency, you are able to identify areas that can be fine-tuned. It also helps cultivate transparency and accountability.
To create consistency, you have to have simple, documented core processes that are followed by all. When everyone in your organization follows these processes, it becomes much easier for managers to manage, uncover, and solve issues. When you systematize transparent core processes, your organization will become more scalable because you can efficiently increase your customer reach.
Step 6: Achieving Effective Meetings
Mastering organizational traction essentially means that you are making your vision your reality. Harmony in a business is a combination of all previous 5 steps, combined with a strategy to check in with team members in a highly effective way.
When you have your transparent data and everyone’s clear on what expectations are, meetings become effective problem-solving tools. Your team leaders know what to present in every meeting and everyone has a clear view of important issues to tackle each week.
Are You Interested in Business Advisory?
Let’s talk about what Fusion CPA can do for your company
How Fusion CPA’s Business Services Function Together
Fusion CPA’s CEO (Chief Entrepreneurial Officer), Trevor McCandless, started the company with the goal of assisting other entrepreneurs in stabilizing and growing their businesses. With both an entrepreneurial and accounting backbone, Fusion CPA can also assist with financial tasks like accounting, tax planning and software integration to compliment our CFO services. All our services are geared towards helping your business succeed, even during economic downturns.
Gain Traction in Your Firm with Business Advisory
Your business needs agile accounting services to be able to scale, especially during a downturn
Join Our Mastermind Groups
We understand every business is unique and resides along the road map of the entrepreneurial journey, whether as a start-up or as an existing business. Let’s talk about ways to solve issues you are having.