Frequently Asked Questions
Is a Fractional CFO Right for My Business?
-
Growing at a rate that feels like it’s becoming a bit unmanageable? Time to start building some leadership around you? Feeling as though you have no one to talk to about your business? It is probably time to consider hiring a Fractional CFO for your business, and your peace of mind.
-
Our Fractional CFO+ service includes all the benefits you would get with a traditional Fractional CFO individual or firm, such as forecasting, budgeting and financial leadership.
Where Stawowski McGill differs is in strategy execution, accountability support, and implementation of key initiatives. The focus is on the goals you have for your business and where you’d like to see it in the future.
-
It depends! Our offering can be flexible, but we usually don’t offer one-off project work like a typical consultant would. We enjoy partnering with our clients long-term, providing full solutions and support to drive better impact.
-
Our clients’ revenues range from $2M to +$100M. We’re flexible and adapt our services to meet the needs of businesses at different stages of growth.
How We Work With You and Your Team
-
No. Our Fractional CFOs operate at the strategic level: forecasting, scenario planning, and guiding financial strategy. Day-to-day transactional work such as bookkeeping, payroll, and reconciliations must be managed by your internal finance team.
-
We speak banking language – we are very knowledgeable on what the banks are asking for and why, and we can challenge them when needed. We are also translators ensuring our clients understand the banking language. We are happy to steer this relationship for our clients as needed.
-
We work with them to close month-end quickly and prepare basic month-end reports.
We collaborate with them and act as mentors when they have questions or need advice.
We rely on them to produce solid financial information that we use to forecast ahead and ensure the business has the necessary information to make confident decisions.
-
No. We used to provide these services but found it was a distraction from the work we really wanted to do with our clients and where our passion lies. However, we are happy to support this process with your year end accountant or help you find a new relationship if needed.
Relationship Overview
-
Our services are billed on a flat monthly retainer. This gives you predictable pricing and unlimited access to your Fractional CFO+ without worrying about hourly rates or running out of hours. We are proactively pushing initiatives forward and available for calls anytime.
-
Yes, we support clients remotely across Canada. That said, we recommend doing our full-day kickoff planning session in-person at our office whenever possible. In-person connection helps us get to know your business quickly and build a stronger relationship with our clients.
-
No! We do not require you to sign on for any length of time as part of our engagement. We strive to ensure a great relationship fit off the start that makes you WANT to be our client without HAVING to be our client.