What is a Virtual CFO?
I find this term intriguing. What is virtual reality?
Wikipedia defines it as follows:
“Virtual reality is a computer-simulated environment that can simulate physical presence in places in the real world or imagined worlds.”
TheFreeDictionary defines it as follows:
“A computer simulation of a real or imaginary system that enables a user to perform operations on the simulated system and shows the effects in real time.”
SearchCIO-Midmarket defines it as follows:
“Virtual reality is an artificial environment that is created with software and presented to the user in such a way that the user suspends belief and accepts it as a real environment.”
All of these definitions define the environments as being artificial or simulated; not real.
It sounds like a Virtual CFO is an artificial or simulated CFO; maybe even a holographic CFO. Virtual reality is used in gaming for entertainment and to escape the real world. It is also used to simulate “what if” situations. However, virtual reality is not reality; that’s why it’s called virtual. Ask yourself (outside of gaming or “what if” scenario’s) do you prefer the real or virtual reality? Do you prefer a virtual vacation over a real vacation? Do you prefer virtual liquor over real liquor? Do you prefer a real spouse over a virtual spouse? (You may not want to answer that one at least not to your real spouse.)
Small business owner’s need real CFO’s; not artificial or simulated CFO’s. As a business owner, would you prefer real profits or virtual profits; which would your bank prefer? Would you prefer your profits be denominated in real US dollars or bitcoins?
Every company needs financial guidance®. The small business owner needs real financial guidance; not virtual guidance. Although CFO 4 Small BizTM utilizes technology to perform the work, CFO 4 Small BizTM provides the small business owner with a real CFO on a part-time basis. You will never get a Virtual CFO with CFO 4 Small BizTM; you will always get a real CFO who will work with you to increase your profits in real dollars. Small business owners need the financial guidance provided by a CFO; they just don’t need it on a full-time basis. A CFO 4 Small BizTM “Part-Time CFO” can provide that guidance.
I conclude by still saying that I find the term Virtual CFO as intriguing. But that is just me as I don’t live in the world of virtual reality but in the real world.
Dave Mayo, CPA, CGMA
Founder & Partner
CFO 4 Small BizTM