Virtual CFOs for digital businesses

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Most Virtual CFOs vs SBO

Most Virtual CFOs

Most virtual CFO services try to take the big-business approach and provide highly strategic advice which centres around providing:

  • overall business strategy development
  • coaching
  • KPIs and business performance advice
  • capital raising

This can be very useful for certain types of businesses. But our experience shows that is not what modern entrepreneurs want or need.

SBO Operational Finance

That’s because the average digital entrepreneur is very switched-on, and not in need of high-level advice. The digital entrepreneurs who come to us want specialist knowledge and skill, delivered quickly and easily. Some of the things they want to know:

  • Their CPA and LTV
  • Exactly how profitable their sales are
  • Actionable steps they can take to improve cashflow
  • How to use economic, financial and market insights, instruments and tools
  • What actions to take today to improve profitability tomorrow

That’s why we provide Operational Finance services, instead of typical virtual CFO services. Virtual CFOs are for advice. Operational Finance is for execution.

What is Operational Finance?

Operational Finance is the amalgamation of Finance, Accounting and Bookkeeping for the purpose of increasing cashflow and profitability.

Some of the things we do:

Quantify Unit Economics

What is the cost of business for every product and transaction? What is the cost of providing each service? What is the Cost Per Acquisition?

Determine ROI & ROAS

Are you making more than $1 back on every $1 you spend? Is your marketing working and actually making you money?

Inventory & Working Capital

Your inventory is your money – literally. Handle inventory in ways that keep your money working.

Service Optimisation

How can you deliver more value or serve more customers without spending more?

Understand Customer Profitability

Which customers are worth your time and cost? How can you scale your services?

Optimise Business Profitability

Where is the business missing profit opportunities? Which parts of the business are costing more than they should?

How do we do it?

We do these things by setting up systems and processes, and by performing deep analysis and consultations with our clients.

Set up streamlined systems & bookkeeping

Manage books without fuss. Data entry; bank reconciliation; processing of invoices, receipts, payments and running payroll. 

Stay on top of business obligations

Run payroll, submit BAS and other government/regulatory reporting.

Cash flow forecasting & management

Take the actions that keep money in the company’s bank account, instead of being tied up in unnecessary costs. Find ways to bring more cash in.

Apply Economic, Finance & Market Insights

Apply economic and financial principles that make the business more profitable in constantly evolving markets, and to be ahead of the market.

Business Analysis & Reporting

Dive deep into the numbers of the business to figure out where the money is coming in and going out. Find the levers that affect the true health of the business.

Effective Business Budgeting

Keep the costs of the business under control. Support the different functions of a business to be industry-competitive.

Provide Actionable Advice

Give the business leaders specific, actionable advice that drives profitable outcomes.

Provide ongoing education

Educate the people in the business so the standard in the business keeps improving.

How much does it cost?

The costs of our services vary on the size and complexity of your business, and the specific services you choose. We will need to speak to you in order to give you a specific price. Generally speaking, our prices are similar to that of a typical bookkeeping service.

Is Operational Finance right for my business?

If you run a digital or professional services business that wants to increase profitability through the application of sophisticated finance and economic principles, then Operational Finance is for you.

“Over the past twelve years of working with accounting firms who are trying to successfully navigate the transformation of the finance field to this digital age, I’d say the number one thing that SBO provides, that no other partner provides, is that personable side to get right down in the dirt with you, and really understand your business day-to-day challenges. That hands-on support isn’t always there from your traditional accounting partners, who are generally more interested in high-level advisory and year-end reviews.

The sense of ease that the SBO team provide is great. We’ve got SBO servicing us across the board in London, L.A., New York, and Sydney. We’ve got a team of supportive and highly educated and informed people, that we can lean on to solve a lot of our business problems as we grow.”

– Isobel Stackpool, The Projects (read case study here)

Want to see what this means for you? Get a free strategy session.

Want to jump right in? Here is what to do next.

Our engagement process is a little different to others. We take our potential clients through a commitment-free, fee-free engagement process to understand your businesses at a technical level:

  1. An initial, 45min video call to understand your finances and business challenges.
  2. We execute an NDA, gain access to your accounting system and conduct a high-level, complementary financial analysis of their business. We spend about 3 hours of our time doing this.
  3. We present the results of our analysis, along with our recommendations. This discussion informs a proposal, which documents how we can help solve your problems.
  4. We have a ‘next steps’ meeting, where we discuss the final proposal and next steps.
  5. The deal is done, and then we continue our work.

Why do we go to all this effort? So we make sure that we are able to deliver value, and so you can be sure of what you’re getting.

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