Buyer's guide
How to Choose a Fractional CFO for a Service Business
A fractional CFO should make your numbers easier to act on, not harder to understand. Here is how to check before you sign.
Choose a fractional CFO who looks at your real numbers before giving advice, explains them in plain English, meets with you on a set rhythm and tells you in writing what you get at each stage. Make sure your books are accurate first. Right Way Profits, led by Debbie DeKnight, offers three published levels with the bookkeeping handled by the same team.
Do I need a fractional CFO yet?
Use this check before you spend money on CFO support:
| If this is true | Start with |
|---|---|
| Books are weeks behind, or you do not trust the reports | Bookkeeping |
| Books are fine, but profit and tax money never seem to be there | Profit First |
| Revenue around $1M or more, and pricing, hiring or big purchases are decided from the bank balance | Fractional CFO |
What questions should I ask a fractional CFO before hiring?
- Will you look at my actual books before you tell me what you would do?
- How often will we meet, and what do I get in writing after each meeting?
- What do you deliver at the start: a baseline, a priority list, a forecast?
- Who keeps my books, and who checks them?
- How does the work change as the business grows?
- Pricing: how is it set, and what does it include?
What are Right Way Profits' answers to those questions?
- Real numbers first: Debbie builds a diagnostic baseline before the plan.
- Rhythm: monthly at Foundation level; Growth adds a model refresh every 90 days and a full-day annual planning session.
- Books: her team keeps them in QuickBooks Online and she signs off each monthly close.
- Growth path: three levels (Foundation, Growth, Scale) for roughly $1M to $50M in revenue.
- Pricing: scoped and set on the call once you both know it is a fit.
Debbie is also a Master Certified Profit First Professional, so cash management is part of the advice from day one. Read more about Debbie, or see what clients say.
Who is a fractional CFO not right for?
If the books are not accurate yet, CFO advice will be built on wrong numbers. Fix the books first. And if you only want a once-a-year look at the numbers, a full CFO engagement is more than you need. Our comparison of bookkeepers, accountants and fractional CFOs can help you decide.
Frequently asked questions
What should a fractional CFO deliver in the first months?
A clear baseline of where the business stands, your priorities in order, and a regular meeting rhythm. Ask any candidate to show you what that looks like in writing.
How do I know if my business is big enough?
At Right Way Profits, the Foundation level is built for businesses doing roughly $1M to $3M a year. Below that, clean books and Profit First usually pay off first.
Should my fractional CFO also handle the bookkeeping?
It helps if the same firm keeps the books or reviews them closely, because the forecasts are calculated from them. Debbie DeKnight's team does both.
What red flags should I watch for?
Advice before anyone has looked at your numbers, no clear meeting rhythm, no written deliverables, and promises of specific results before the work starts.
Want to ask Debbie these questions yourself?
Book a 45-minute discovery call. At the end you will know whether she is the right fit.