What is ‘Small Business Support & Outsourced FD’? The easy answer is to split things into two, let us explain why so many clients benefit.
Small Business Support
Take this statement from David Harkin CEO of ‘7 Billion Ideas‘;
“The business was growing rapidly, and just as the team looked up to me for support, I realised I needed someone, too. I wasn’t ashamed of admitting this, in fact I saw it as a strength in my own skills that I realised we needed additional help outside of our team”
Many small businesses realise that their time is limited, what they do with that time is dictated by priorities, discipline and whatever sits atop the urgent list.
Running a small business can be lonely. Nobody knows everything and too often your skills are dragged in all directions except where they are best used. If you could employ a fellow director to work alongside you then you probably would, but for most businesses this simply isn’t feasible.
Our business support is about giving you the resource of having another professional on your board, but without the cost. We see it as;
- Giving you an independent view on what is going on and where you want to take your business
- Taking away the cost of permanently employing another director
- A sounding board for ideas, problems, challenges or opportunities
- Learning best practice used by other businesses
What our clients really like is that we will provide the above, but do it without asking for any commitment from you, we will;
- Work on a rolling 3 month basis, so no long term commitment or contract. You have the flexibility to take more of our time, less of our time or even walk away for a while
- No minimum time period. We will work with you from as short a period as half a day per month
- Remote or On-Site. We will split things between working with you face to face and remotely, this adds more flexibility to how you want to do things
- No ticking clock. We really like this bit. We do not start the clock when you call or email, the ticking clock approach discourages clients from seeking advice which is what we do not want to do. You can email, call or speak to us whenever you want, no extra cost, no ticking clock
The costs of our business support will vary depending on what you want from it. As a very basic guide, working with you for half a day per month would cost £250. It is cheaper than many business consultancies as we aim at the small business sector, we also understand that the benefit for us both is long term.
What is an Outsourced FD all about? It comes down to doing the things that most small business owners forget, take this quote;
“Three Rings for the Elven-kings under the sky…Well I’m Back”
The first line and last line of Tolkien’s Lord of The Rings. Most small business owners know the first line of their business story, many also know the last line of the story.
An outsourced FD is about providing the information to allow you to fill the gap inbetween. The middle part is where the story is, where the action takes place and where the most enjoyment can be had. A Finance Director (FD) helps you;
- Analyse your business
- Look at what is happening and how the numbers can be applied in a practical manner
- Use regular reporting to develop, control, foresee issues and be more profitable
- Use proven business models and tools to benefit your company
For many small businesses having an FD is something they would rarely consider, an FD has always been the reserve of the established company. It doesn’t have to be.
For many small businesses their involvement with financials surrounds the bank account balance and sending your accountant your annual figures. There is a link between failure and not knowing what is going on, it’s a bit like driving your car without the dashboard. It just doesn’t work.
Our FD solution means you can;
- Have an FD without the cost normally associated with the role
- Try it and see if it works for you
- Avoid having to employ someone for the role
If you want more details on how it can work for you then please get in touch.
The Video Guide
If you want to watch the 60 second introduction to our business solutions then click play below;