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“One of the first things that you'd want them to do is to really ask you a ton of questions around ‘what are you currently doing for your finance function within your business?’” recommends Sheldon. “You want your fractional CFO to conduct a big audit of where you are, and what are you currently doing.”

Top Tips for Using Fractional CFO Services

“That's where this idea of a fractional executive or fractional CFO, specifically comes into play,” says Sheldon. “With a fractional CFO, you have someone to fill that senior position and provide their experience and high-level insights, but they're within the budget that the company can afford. All while getting the job done.”

How a Fractional CFO Could Help Your Startup

“A fractional CFO is essentially a CFO that spreads their time between a number of different clients, usually three to eight clients,” says Jacob Sheldon, founder of Silicon CFO, a startup that offers fractional recruitment services for startups looking to hire a CFO.

What is a Fractional CFO?

How to Automate Your Startup’s Bookkeeping