Frequently asked questions
Well, we all have questions, and we are here to help you make finances easy for you!
Here are some answers for the most common questions.
- Not exactly. In the small business world, a business owner refers to an accountant as someone who prepares your tax return. They do not provide a strategic direction for the company. An accountant could also be someone who handles the day-to-day recording of your business and understands how the day-to-day can impact the profit and loss and the balance sheet.
- A bookkeeper is someone who records the day to day invoice and bills and bank transactions, but not necessarily understand the impact any transactions have on the profit and loss and the balance sheet.
- In contrast, a Fractional CFO has extensive experience in the operational aspects of a business and this role is your trusted advisor. They offer valuable insights and practical know-how that can lead your business growth to the next level. They have a broader perspective and can translate it into effective strategies.
- Both Fractional CFO role and CFO role are an experienced finance senior executive. They join your leadership team, bringing their strategic finance expertise, overseeing a company’s financial operations, managing the finance team and providing guidance on the cash flow and forecasting as well as ensuring accurate and timely completion of the company’s financial reports.
- The big difference is the frequency of their involvement with the company. A Fractional CFO partners with you on a part-time basis until you and your business are ready to hire a full-time CFO. A CFO, on the other hand, partners with you on a full-time basis.
Our Fractional CFO services could be an ideal match for your business if:
- You’re a female founder leading a mission-driven business. Alignment of values is essential for both parties.
- Your business has achieved total revenue exceeding $1 MM USD and above in the past year.
- You’re in a growth phase and require expert financial advice or strategic planning for expansion.
- Your business requires customized solutions for specific milestones.
- You need assistance in getting ready for financial due diligence.
- Your business is in search of strategic counsel, to create and improve your overall forecast processes..
If you are a startup or your business is in its early stages, we may not be the best fit for your current needs. Profit Reimagined Inc™ is oriented towards businesses that are prepared for growth or scaling. Nevertheless, we are more than willing to provide you with financial resources that can aid your understanding of your business in the initial stages of its lifecycle. You can start with our podcast and our blog.
We hold the belief that the world could benefit from a greater number of successful female founders who establish and manage sustainable businesses. We specifically opt to collaborate with female founders, female CEOs, or women in senior positions. Our goal is to enhance the profitability of your purpose by becoming an integral part of your finance team. However, we welcome anyone who believes in seeing more women succeed in business.
Absolutely! We operate as a fully distributed team. You’ll have the opportunity to collaborate with dedicated finance professionals who are deeply invested in your business’s success. We don’t just advice from a distance; we dive in and work closely alongside you.
Yes, and we love it! We’re incredibly proud of it. We firmly believe in the positive impact of business. That’s why we’re thrilled to be B Corp certified and active members of B1G1.