{"id":369,"date":"2023-01-09T16:56:18","date_gmt":"2023-01-09T16:56:18","guid":{"rendered":"http:\/\/lanternpartners.com.au\/?p=369"},"modified":"2024-02-17T13:42:57","modified_gmt":"2024-02-17T02:42:57","slug":"when-is-the-right-time-to-engage-a-virtual-cfo-for-my-business","status":"publish","type":"post","link":"https:\/\/lanternpartners.com.au\/when-is-the-right-time-to-engage-a-virtual-cfo-for-my-business\/","title":{"rendered":"When is the right time to engage a virtual CFO for my business?"},"content":{"rendered":"

Picking the right time to engage a virtual CFO can be tricky, but we find there are a few key signs that a business is ready for additional support.<\/span><\/p>\n

For a founder those signs are:<\/span><\/p>\n

You\u2019re growing but you still never seem to have enough cash<\/strong><\/p>\n

Fast growth can be one of the trickiest times to manage as your business scales up as often the cash goes out the door before the revenue comes in. Having a clear handle on your cash flow forecast and knowing what levers you can pull if the projected revenue doesn\u2019t eventuate as expected is really critical to long-term sustainability. In order to grow successfully you need to have guardrails.<\/span><\/p>\n

You\u2019re spending precious time in spreadsheets when you know you should be running the business<\/strong><\/p>\n

In the early days of a business, the founder is often wearing the CFO hat. The transactional work is outsourced but having a handle on the financial projections, budgeting, and assessing funding requirements sits with the CEO.\u00a0 As the business grows it isn\u2019t the best use of founder time.<\/span><\/p>\n

Your financial system isn\u2019t giving you all the answers you need. You know there are more<\/strong><\/p>\n

Having the transactional data correct is an essential first step.\u00a0 But to really grow the business you need to extract the insights from that information. What is that data telling you about the health of the business and where to go next?<\/span><\/p>\n

Your business is branching out into more unknown or bigger territory<\/strong><\/p>\n

As your business grows there will likely be more unknown territory.\u00a0 Whether it\u2019s venturing out into new business streams, new customer types, or new geographies. A CFO steps in to help you assess these scenarios and provide commercial and strategic guidance in decision-making.<\/span><\/p>\n

You\u2019re planning on selling your business\u00a0<\/strong><\/p>\n

Most founders we work with haven\u2019t sold a business before. And preparing a business for sale takes time and careful planning.<\/span><\/p>\n

If these thoughts are keeping you up at night let\u2019s chat<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Picking the right time to engage a virtual CFO can be tricky, but we find there are a few key signs that a business is ready for additional support. For a founder those signs are: You\u2019re growing but you still never seem to have enough cash Fast growth can be one of the trickiest times […]<\/p>\n","protected":false},"author":1,"featured_media":371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"yoast_head":"\nWhen is the right time to engage a virtual CFO for my business? - Lantern Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lanternpartners.com.au\/when-is-the-right-time-to-engage-a-virtual-cfo-for-my-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When is the right time to engage a virtual CFO for my business? - Lantern Partners\" \/>\n<meta property=\"og:description\" content=\"Picking the right time to engage a virtual CFO can be tricky, but we find there are a few key signs that a business is ready for additional support. 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