When considering the right type of CFO services for your business, it’s important to ask targeted questions that reveal their approach, experience, and how they can help meet your specific needs. Whether you’re looking for short-term financial support, ongoing virtual assistance, or a part-time expert, asking the right question can make a big difference. Here are the best questions to ask an SOS CFO, Virtual CFO, and Fractional CFO to better understand how they can bring value to your business. 1. Question for an SOS CFO: “In a financial crisis, how do you prioritize immediate actions while also laying the groundwork for long-term stability?” An SOS CFO is typically brought in to handle urgent financial matters when a company is facing a crisis. This question allows them to explain their crisis management approach. It’s important to understand how they quickly diagnose the financial health of the business and prioritize urgent actions like securing cash flow, reducing costs, or restructuring debt. At the same time, their response should show that they have a strategy beyond short-term fixes, ensuring the company can recover and continue on a path to growth once the crisis has passed. 2. Question for a Virtual CFO: “How do you stay aligned with our business goals and ensure proactive financial management when working remotely?” A Virtual CFO provides ongoing financial support remotely, often for growing businesses that don’t yet need a full-time CFO. This question addresses a common concern with virtual services—how well they stay integrated with your team and business goals without being physically present. A strong Virtual CFO will have processes in place to stay connected, whether through regular virtual meetings, cloud-based tools, or strategic planning sessions. Their answer should demonstrate their ability to provide proactive advice, monitoring financial health, and ensuring the business is well-positioned for future growth. Question for a Fractional CFO: “How do you balance the specific needs of our business with your other clients to ensure we receive the attention and expertise we need?” A Fractional CFO works on a part-time basis, offering expert financial guidance while balancing multiple clients. It’s essential to understand how they manage their time and ensure that your business gets the necessary attention. This question gives the Fractional CFO an opportunity to explain how they prioritize their workload, maintain open communication, and ensure they stay fully engaged with your company’s financial health. They should outline their approach to managing your financial strategy, even with limited time, and how they ensure your business receives the benefit of their expertise when it matters most. Conclusion Each type of CFO—SOS, Virtual, or Fractional—serves a unique role in business financial management. By asking these questions, you can better understand their processes and determine which option is the right fit for your business. The key is to ensure that regardless of the service, they align with your company’s goals and can deliver the level of support you need, whether it’s during a crisis, for ongoing financial management, or for expert part-time guidance.