In a 2023 Deloitte and Workplace Intelligence study 75% of CEOs said they were seriously considering leaving their job to find better wellbeing support.

The study also found that one in three C-suite executives constantly struggles with fatigue and poor mental health.

This creates business risk for a company and organisation if a CEO is dealing with stress and wellbeing whilst juggling the demands of running a company.

When leaders are under pressure they tend to become more risk-averse, defensive and erratic in thinking and decision making processes. It can also lead to people making more unethical and less value-driven decisions as psychological safety is reduced.

In Britain burnout is a £28 billion a year problem as costs pile up from days lost due to stress, fatigue and poor mental health. An AXA mind health study showed that 21% of all British adults are in emotional stress.
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Here at Capstone Group, our CEO, Matthew Reynolds, has years of experience as a CEO and has completed further studies in counselling and psychotherapy. Our CEO mentor and CEO executive coaching clinics are designed to help people work with stress rather than fight stress and learn tools and techniques to thrive in difficult workplace situations.

​Germany is one of the largest, most vibrant, and attractive start-up ecosystems in the world. There are more than 60,000 start-ups in highly specialized sectors across the country.
 
Innovative start-up business models and technologies are transforming entire industries. Start-ups are a driving force of innovation, economic growth and long-term prosperity.
 
Many of these start-ups are often globally focused and employing staff in diverse locations remotely and cannot afford the services of a full time CFO.
 
A Virtual CFO provides professional financial advice and help guides the growing business to success.
 
 A Virtual CFO can function as the company’s CFO, without being the full-time employee.
 
Accounting systems produce numbers and reports, but the skill is in the analysis of the number and trends, strategy creation and execution, risk management and analysis, capital budgeting, stakeholder relations, CEO mentoring, and stakeholder engagement.
 
A Virtual CFO will always be available even when not on site.
 
Hiring an outsourced Chief Financial Officer (CFO) in Germany for an ambitious start-up offers numerous benefits: cost savings, flexibility in engagement, access to specialized expertise, allowing internal teams to focus on core competencies, strategic financial guidance, scalability to evolving needs, risk management support, adoption of cutting-edge technologies, objective decision-making, compliance expertise, and stability during executive transitions.
 
In summary, outsourcing CFO services provides cost-effective access to high-level financial expertise, enhancing flexibility, strategic guidance, and operational efficiency for businesses. Vitally important in that critical phase from startup or early stage to growth and expansion phase.
 
 

This is a global business market. With companies working remotely and having employees, customers, stakeholders and consultants working in various corners of the globe.

The role and function of a Virtual CFO can be transformative helping companies to realise their strategic ambitions. Bookkeepers are great at producing accounts but in todays fast changing world it is data analysis, data analytics and interpreting numbers and trends that make a dramatic and measurable difference.

Virtual CFOs provide financial expertise to companies remotely. They offer the flexibility of a tailored, part-time financial service – yet one that is always available to answer questions and monitor and analyse business performance. This allows smaller companies to access high level insights typically reserved for larger corporations.

Outsourcing a CFO is cost effective without the headaches of sick leave and annual leave. The Virtual CFO engagement can be expanded as the business grows.

Virtual CFOs bring a unique perspective and skills to the role – often they have worked in varying industries and occupations and supported businesses as they move from start up to growth phase.

Finding the right CFO is important – they often also become a mentor and a business coach for companies as they grow.

The business financials are the key to knowing current and future financial position. However, the real skill from a Virtual CFO is being able to interpret the financials – what do they mean for strategy, sales goals, performance goals, competition, capital requirements and more.

Virtual CFOs will help generate in-depth reports, conduct financial analysis, and offer advice to make the right strategic decisions.
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A virtual CFO will help review the current budget and create a plan to not only survive an economic downturn but also to utilise a company’s strategic advantage in the market, manage and beat competition, utilise assets and resources, and create a “gameplan” for long term sustainable business success.
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Why having a business strategy is critical to business success?
 
Not having a business strategy is like sailing rudderless into a storm. How do you know where you are going? Or how to change direction when things become difficult.
Crafting, developing and announcing a strategy makes excellent business sense. It gives a business direction and employees feel engaged and enthusiastic about what and why they are achieving.
Before a strategy can be developed several key elements need to be considered:

(i)        what are the strengths, weaknesses, threats and opportunities facing the business;
(ii)       a critical analysis of the businesses current and historical performance should be undertaken
(iii)      An analysis of the macro and micro factors impacting on the business need to be considered
(iv)      An evaluation of the key businesses resources

An effective business strategy will clearly identify where the business is headed and why. The strategy document will define the destination and what are the strategic resources that will be utilised to reach that destination. It will outline the best route the business will undertake to reach that direction and provide the tools and metrics to be used to critically analyse progress towards the strategic direction.

It is essential to continually assess progress towards the strategy and to realign strategy and direction if required.

An experienced accountant and business adviser will be able to assist in all aspects of strategy development and formulation, together with providing reporting in the continual monitoring of actual business performance against the metrics that have been established in the strategy document.