What’s the big idea?
The big idea also happens to be a beautifully simple one. Our VirtualFD initiative gives you all the benefits of having a Financial Director on your side, without exposing yourself to the complications, risks and drawbacks of actually employing one. It’s a service that’s perfect for forward-looking enterprises that are going places: those organisations and businesses who understand that in today’s commercial arena it sometimes pays to think differently and buck convention.
At Balance we’ve seen first-hand how expanding businesses tend to grow to a point where their financial matters deserve the attention and expertise of a Financial Director. In fact, we’ve personally helped dozens of businesses reach this milestone in their commercial lifecycle. The problem is that more often than not, recruiting, employing and retaining a Financial Director is anything but plain sailing – in fact it’s a gamble that could cost you heavily or even have disastrous consequences for your long-term bottom line. Here’s why:
There’s no escaping the immediate and ongoing financial costs of employing a full-time Financial Director, including recruitment fees, high salaries and all the benefits and entitlements that go hand-in-hand with senior positions.
We’re not ones for being melodramatic, but recruiting a Financial Director who isn’t up to the job could be the last commercial decision you ever make. The person you appoint will have huge responsibility and direct control of your organisation’s finances: they need to be superb.
Needing a Financial Director’s expertise is one thing, but there’s a very good chance that you don’t actually need one full time. Great news you might think, except that finding a good part-time FD could take far longer than you can afford to be without one.
A talented Financial Director is worth his or her weight in gold, but ironically that can create real difficulties and commercial vulnerability when they’re not around. Maintaining continuity and keeping things consistent is a must.
How does it work?
With VirtualFD, we’ll act as your company’s Financial Director by providing you with all the specialist skills, services and expertise you’d enjoy if you recruited one yourself. We’ll essentially become an integral part of your team, every bit as committed to your financial health, commercial success and continuing growth as you are. On a day-to-day level this frees you up to focus on running your business while we take care of the nitty-gritty financial stuff that gets in the way. In the long run, a move like this could prove the making of your business.