1. Which decisions need better information?
If leaders cannot see the likely effect of pricing, investment or delayed sales, they may need stronger financial leadership. Define the work around those decisions, not a list of reports.
2. Is the need likely to change?
Funding, expansion and restructuring often create an intense period followed by a smaller ongoing need. A fractional CFO can build the models and ways of working, then hand over or continue for fewer days.
3. What does the finance team already do well?
Bookkeeping, payroll and regular reporting may work well without a CFO. The senior role should complement the team with analysis, priorities and dialogue with the CEO, board or capital providers. An unclear boundary creates duplicate work.
4. How close to the business should the CFO be?
If the CFO will influence product, sales and how resources are used, they need regular contact with the leadership team. That is different from reviewing a spreadsheet now and then. Set the time around the actual decision cycle.
5. When is full time the better choice?
Leading a larger finance team every day, handling many transactions at once or being constantly available may call for a permanent CFO. A fractional CFO can still help during the search and shape the longer-term role.
- Name the three most important decisions ahead
- List the data and people available
- Agree what should be handed over when the assignment ends