Mike Jerman, Mng Partner
5 Steps to Ensuring Success from a Fractional CFO Relationship
Updated: Nov 3, 2020
Fractional accounting and finance resources are all the rage right now. And, for good reason. A fractional solution (be it a fractional CFO, controller, analyst, internal or external audit support, or for deals and quality of earnings work) can provide critical support on an on-demand basis for a fast-growing company and others in need of agile leadership and quality.
But, unfortunately, that’s not always the case. Sometimes a fractional resource brings only fractional results.
Here are the 5 steps to ensuring your fractional CFO experience is greater than the sum of its parts.
Insist on Big 4 Experience: Make sure your fractional leadership has successful Big 4 experience. After all, the best team to take you where you want to go is one who’s already been there. At Hollywell Partners we only bring in vetted, big firm consultants to support our Big 4 leadership.
Ensure Vetted Talent and a Deep Bench. A deep bench with the right talents. Highly vetted. Not just a group of freelancers looking to take work wherever they can find it. At Hollywell Partners we do not pound hours. Hollywell sets expectations, agrees on deliverables, and we consistently measure ourselves and the team in place, or the one we bring in and develop.
Insist on Stellar and Relatable References. Look for great references. And look for references you can relate too. References from people on a similar journey to yours. Take a look at Hollywell’s case studies on our website and ask for a list of public and private company references anytime.
Look for Agility and Efficiency: You’ll want Big 4 experience, but without the budget-busting bloat and frustrating lack of speed-to-action. At Hollywell, we pride ourselves on agility and efficiency. In some cases we have completed projects before the big firms could even get started.
And Make Certain that there are Resources Behind the People: Many fractional accounting firms are the shape of an inverted iceberg. What you see above the waterline is pretty much all there is. This is a recipe for failure.
If you follow these 5 steps, you have an excellent chance of achieving success from a fractional relationship.
Contact Hollywell Partners at firstname.lastname@example.org and +1 813 394 4304. We will respond quickly in line with our rapid deployment capabilities.