mtmosestn

This post is bait to hear from people on what they think about fractional talent.

In my past two exits the fractional CFO and CTO saved my butt.

True, they are a 1099. But a fractional owns the work. A freelancer just owns the task.

The CPA ensures compliance. The CFO looks forward. Giving founders the numbers and education on the numbers to make strategic decisions.

Help with funding means passing due diligence, many have relationships with PE and VC, and years of network building to speed up fundraisers.

Most work under some kind of time agreement. Meaning they will give you hours each month and will not leave unless you want them to.

A Fractional CFO is a part time executive that is paid on a monthly basis. Between $5,000 and $10,000 in general. They use the accounting numbers to provide forward looking guidance on Cash flow, burn rate, etc. Furthermore, they help with funding, oversee accounting, and teach founders about the financial side of their business.

Eventually helping to bring on a full time CFO when it is needed.

There are some horror stories with Fractional CFOs. That was my intital fear. But, a Fractional CFO who own a number can give a boost to a sub $5 million company. It goes bookkeeper, tax accountant, Fractional CFO as far as when to hire.

The subject of Money Ball figured out what everyone else could not see.

It is dataset on demand. There is no listing of datasets. One just requests one and it is made, cleaned, and delivered.

You should protect yourself with a corporate entity. The reason is that not everyone is nice or understanding. One issue with a contract and you could be sued for more than they paid you. As far as what type of structure, LLC is the easiest to create but you should ask an attorney in your area which is best for you.