We get it. As small business owners, we are overextended and super busy. So how do you know if that can’t breathe feeling is due to high-growth, workaholism, or something else. Let’s see if we can help.

First, let’s establish what we mean by high-growth. Growth can be measured by revenue, employees, and units sold or the number of customers. If you see a fast increase to double what these measurements were before, your business is in high growth. But if your small business isn’t watching these figures how do you know?

We’re talking about 5 signs your small business or start-up is in high-growth mode and how you can collaborate with a Fractional CFO to ease the pain.

1. You are scared.

You don’t know what is happening because you have no clue what your finances look like. Boo. Things are happening in your business faster than you are comfortable with and you just know something bad is going to sneak up and scare the shit out of you. A Fractional CFO can be the EYES you need so a ghost doesn’t come out of the dark. They can monitor your current financial surroundings as well as establish forecasts to help understand what your future finances look like so you are prepared rather than having something jump out and scare you.

2. You are claustrophobic.

You can’t seem to get away from your team. Is your team outgrowing your current location? But how do you even know if you can afford a bigger space? A Fractional CFO can plan a larger space into your financial forecast, analyze the results, and help you make the best decision for your growing team. Want to try this on your own?

3. Your team is needy.

Do you need to hire a manager to take some of the load off you? How do you know if you can afford to hire a manager, that’s a big investment. A Fractional CFO can plan to hire a manager into your financial forecast, analyze the results, and help you understand when the right time to hire is based on your financial landscape. How much more can you get done in the day if someone else was available to guide the team on a daily basis?

4. You are embarrassed.

Customers are receiving invoices or statements showing they owe you money when they have already paid their invoice. Oops. Your bookkeeper isn’t able to keep up with the volume of transactional work and they are behind on applying customer payments to invoices. How embarrassing is this? Get ahead of this early so your small business keeps its professional appearance. You don’t want to look like a mess, do you? A Fractional CFO can establish operating standards and expectations for your bookkeeper and hold them accountable. Data should be processed at a minimum on a weekly basis to keep records current to ensure you are operating off the most recent data and customer payments are getting applied timely. Need help automating processes?

5. You feel like a fireman.

You spend all your time putting out fires rather than thinking strategically about the direction of your small business. If your business is growing you have no idea how or why. A Fractional CFO can formalize a financial strategy session to get the conversation going about your vision for your small business and establish monthly accountability meetings where you meet to discuss where you are, where you want to go, and how to get there. Want to learn more about our process?