Adam L. Turco
The Rise of the Fractional CFO Firm - I
Updated: Nov 23, 2021
Why successful businesses fail
PART 1 of 6
Successful businesses fail because they run out of cash, period. But why? Simply, they don’t understand their financial business model well enough to navigate the growth in working capital required to grow a business. This is a tragedy. If organizations were to understand this facet of their company, many more organizations would survive, and the U.S. economy would be much stronger as a result.
The accounting and financial administrative functions at most small and medium-sized businesses (SMBs) are too weak. Historically, the cost of hiring a financial professional that can navigate the gauntlet of economic challenges of SMBs was a barrier to filling this critical role.
Ready for some good news? With the advent of cloud-based financial systems and some much-needed CPA industry disruption, a solution to this problem is emerging. Enter the Fractional CFO Firm.
Over the past five years, a new type of CPA Firm has emerged, filling the gap between bookkeeping and legacy tax and auditing CPA firms. In the following sections, we discuss what makes these firms different, how to leverage their services for your business, and what to look for when selecting a firm. Stay tuned for parts 2-6!
Or just go to Medium and binge the whole article now! https://medium.com/@adam_85449/the-rise-of-the-fractional-cfo-firm-87ced3ed11ab