Signs it's time
- You're preparing to raise money and need a model and a story investors will trust
- Month-end close takes weeks, or the numbers change after they've been reported
- Your bookkeeper is doing good work, but nobody is looking ahead
- You're making pricing, hiring or expansion decisions without a clear view of cash
- Your board or lender is asking for reporting you can't produce yet
- You're weighing an acquisition, a sale or a new credit facility
What the first 90 days usually look like
Days 1 to 30: Review the books, the close process and current reporting. Find the gaps, and put a short-term cash forecast in place so you know where you stand week to week.
Days 31 to 60: Build or rebuild the financial model and budget, set the handful of metrics leadership will actually track, and tighten the close.
Days 61 to 90: Deliver a reporting package for your board, investors or lender. Prepare for any fundraise or financing, and recommend what to hire next, whether that's a controller, a staff accountant or nothing yet.
Fractional vs. full-time
| Compare | Fractional | Full-time |
|---|---|---|
| Cost | A monthly fee for the time you use | Full salary, bonus, benefits and often equity |
| Time to start | Usually weeks | Often a months-long search |
| Commitment | Monthly, and adjustable as needs change | Long-term hire |
| Experience | Often senior, across several companies | Depends on what you can afford to pay |
A full-time CFO makes sense once finance work fills the week: multiple entities, heavy regulatory reporting or preparing to go public. Until then, fractional is usually the better fit.
CFO, controller or finance support?
- Fractional CFO: strategy, capital raising, forecasting, board and investor relationships
- Fractional Controller: accurate books, a reliable close, internal controls and audit readiness
- Fractional Finance: a defined piece of work, such as an FP&A model, a pricing analysis or a system implementation
Many companies start with a controller and add CFO time as they grow. Some need both from day one.
How engagements are typically set up
- Retainer: a set number of days per month, ongoing
- Project: a defined goal with an end date, like a fundraise, an audit or a new accounting system
- Interim: close to full-time for a set period while you search for a permanent hire
What to look for
Look for someone who has led finance at a company your size and stage, and who has industry experience where it matters (revenue recognition in SaaS, cost accounting in manufacturing, reimbursement in healthcare). Questions worth asking:
- What did the first 90 days look like with your last client?
- How many clients do you carry right now?
- Who does the hands-on work, you or someone on your team?
- What accounting and reporting systems have you worked in?
- How do you hand things off when an engagement ends?
Create a free company account to search finance fractionals by industry, experience and engagement type.
Frequently asked questions
How much does a fractional CFO cost?
It depends on scope and how many days a month you need. Most bill a monthly retainer. On My Support Staff, members bill you directly, and we don't take a cut of what you pay them.
How much time will they spend with us?
Most engagements start at a few days a month and scale up or down as needs change.
Can a fractional CFO help us raise money?
Yes. Fundraising prep is one of the most common reasons companies bring one in: the model, the data room, investor materials and the diligence process.
How is this different from an outsourced accounting firm?
An accounting firm handles transactions and compliance. A fractional CFO is a leader who sets direction, works with your executive team and owns the financial plan.
Do they work remotely?
Most work mainly remote and come on site when it matters. Every member on My Support Staff is US-based.