When you have a small business or startup, hiring a CFO or COO is entirely unnecessary. You definitely need the expertise and a bit of work on such functions. But a full-time hire is only logical for larger businesses that truly need full-time staff to manage finances and operations. Hence, an interim CFO & COO is the solution.interim CFO


These two functions ought to be combined in smaller businesses because they are so intertwined. A good small business CFO will be responsible for accounting, financial statements, investor reporting, and performance metrics/reporting. Since operations aren’t yet very big, they can use financial tools to manage the non-product aspects of hiring/payroll, performance monitoring, budgeting, and more.


What does interim mean in the context of these positions? Different companies can choose different arrangements:

  • Have a standby CFO/COO to help only when there is a financial event occurring (a financial model is needed, end of year accounting, raising capital, etc)
  • Make your interim CFO/COO available for consultation as needed
  • Have your interim CFO/COO work remotely and part-time. This might be 10 hours/week, for example.
  • Outsource this function as-needed. Some weeks you might need 40 hours. The next week you might need 5. You pay by the hour.


By keeping this function interim, you do two things. First, you ensure that the hire is variable. You don’t need to commit equity or full-time compensation since each hire is so critical in initial startup stages. Second, you get a single person that can give you expertise over time. And as you grow into a larger company, you can use the interim label as a “tryout” for the full-time role.


I would love to talk about helping your company with CFO/COO tasks on an interim basis. I have spent my career helping and advising large banks on all aspects of finance including budgeting, financial reporting, metrics, financial modeling, accounting systems, and more. Likewise, I offer a service to create investor decks that can be interwoven into this role.


Get into contact with me using the contact form below. I’m happy to give you a free consultation on why this service can benefit your company and talk more specifically about your needs.

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