With the growing number of firms entering the virtual CFO and advisory space, there are two important things that you need to know to prevent being in a bottleneck position and improve your chances of scaling your firm.
Listen Below.
0:32 – There are two reasons why many have trouble scaling their virtual CFO and advisory services.
0:54 – We want to create a model that can scale, and which can operate systematically, in a fashion where no bottlenecks exist.
1:08 – The first big reason why many firms have trouble scaling is that they approach these services in an ad hoc fashion.
1:59 – If your services consist primarily of consulting for one-off scenarios, these are exceptionally ad hoc and become very difficult to systematize.
2:24 – You might enjoy offering those kinds of ad hoc services, but know that you can’t scale them.
3:28 – When thinking to scale virtual CFO services, consider how you can turn ad hoc services into recurring ones.
3:45 – The second reason is having trouble figuring out what exactly is the deliverable they are offering.
4:32 – The problem mostly came down to incorrect packaging and therefore poor scoping of their services.
5:17 – The key to packaging your services is to compartmentalize and start thinking about them in terms of a deliverable.
6:04 – Defining your deliverable and focusing on recurring services will significantly increase your chances to scale up.
