A Virtual CFO, has all the skills of a full time CFO with one key difference: he/she is a financial expert that could provides you the right amount of guidance at an affordable cost whom is not a full time employee of your company. You are effectively “renting” their expertise. You can continue to deploy your capital to sales activities that grow the top line and have an financial expert work with you to validate your thinking and help you execute your strategy.
The Virtual CFO should already have expertise in your industry and be able to relate his or her experiences to your situation. He/She should be able to get into the details of the business… prepare financial models, supervise accounting staff and augment your management team, that make he/she can be on-boarded quickly and deliver immediate value.