Moving from a full-time CFO role to a fractional career can be rewardingâbut it does take a bit of getting used to. Hereâs what to consider before taking the leap.
The demand for fractional or part-time CFOs has never been higher. Businesses, especially SMEs and scaleups, need senior financial leadership but often canât justify a full-time hire. This has led many CFOs to explore the fractional career model, swapping corporate structure for flexibility, variety, and independence.
But making the switch isnât just about reducing hoursâit requires a shift in mindset, structure, and expectations. Andy Collier, Head of Brand Experience at The CFO Centre, has worked with hundreds of finance professionals whoâve made this transition. He shares the key factors every CFO should consider before making the move.
1. Understand why you want to go fractional
Before you take the leap, itâs worth getting crystal clear on your motivations. According to Andy, CFOs typically switch to fractional work, working with a portfolio of clients, for one (or more) of the following reasons:
- More variety â They want to work across multiple businesses and industries rather than being tied to one company.
- Work-life balance â Theyâre seeking greater flexibility in their schedules.
- Escape from corporate politics â They love the strategic aspects of finance but donât want to be bogged down by the bureaucracy that comes with working for a corporate.
- A late-career pivot â They want to keep working, and giving back, but on their own terms.
Your reason for going fractional will shape your success. Fractional CFOs juggle multiple clients, manage unpredictable schedules, and must be highly adaptable but the rewards often outweigh the complexities.
2. Be financially prepared for the transition
One of the biggest shocks for CFOs transitioning to fractional work is the financial adjustment. Unlike a full-time role with a guaranteed salary, fractional CFOs start with zero clients and need time to build their portfolio.
Andy recommends having at least six months of financial runway before making the switch:
âI made sure I had a financial safety net of six months before going fractional. That way, I wasnât making decisions just to bring in income.â
Without a financial cushion, CFOs may take on the wrong clients, undervalue their services, or struggle with the initial uncertainty. Planning ahead and having those clear expectations ensures you have time to find the right opportunities rather than rushing into the first offer that comes along.
3. Shift your mindset from employee to trusted advisor
Just as full-time CFOs are deeply embedded in a business, so are fractional CFOs âattending board meetings, overseeing day-to-day operations, and leading teams. They need to understand the detail but with a focus on delivering value quickly.
âIn a full-time role, 80% of your time might be spent on operational finance and only 10% on strategy. As a fractional CFO, that flips. You need to focus on high-value strategic work, not doing the day-to-day accounting.â
This means:
- Prioritising strategic insights over number-crunching.
- Training in-house teams to handle operational finance.
- Adapting quickly to different business environments.
4. Know where your clients will come from
Most CFOs underestimate how hard it is to win clients. In a full-time role, you donât have to sell yourselfâyour job is secure if you keep delivering. But in the fractional world, CFOs must be happy in a selling situation â often itâs about asking the right questions rather than simply restating their experience.
Andy warns:
âI tried to go fractional on my own at firstâand failed. I had no route to market, no way of finding clients. I quickly realised I needed a more structured approach.â
To succeed, you ideally need:
- A strong network â Existing relationships can lead to your first clients.
- A clear value proposition â What problems do you solve better than others?
- A strategy for client acquisition â Whether through referrals, marketing, or joining a platform like The CFO Centre.
You can make it without all these things on day one, but it may need extra energy etc to launch yourself. If youâre uncomfortable with selling yourself, consider joining a team of like-minded colleagues that help with business development.
5. Adapt to working with founders, not just boards
Full-time CFOs often report to boards, investors, and executive teams. Fractional CFOs, however, also frequently work with founders and small business ownersâwho think very differently.
âA lot of our clients are first-time founders. They might not fully understand finance. They need a CFO who can simplify complex issues, act as a mentor, and guide them through the startup and scaleup challenges.â
This means:
- Being comfortable with ambiguityâmany SMEs wonât have structured finance functions.
- Adapting your communication styleâfounders care about cash flow and growth, not technical accounting.
- Acting as a trusted advisor, not just a finance leader.
6. Consider whether you want to be independent or join a team of like-minded colleagues
Finally, decide whether you want to go fully independent or work within an established fractional CFO team.
Independent Fractional CFOs
- Have full control over their clients and pricing.
- Must do their own marketing and client acquisition
- Need strong connections to secure work quickly.
Joining a team of Fractional CFOs (e.g., The CFO Centre)
- Provides a tried and tested approach to finding new clients and generate client leads as a team.
- Helps CFOs with business development and onboarding.
- Offers a peer community for learning and collaboration.
Each path has pros and cons. If you have a strong personal brand and network, going independent can be for you. If you prefer a team-based approach, joining a business who can offer stability, support and growth may work best for you.
Final Thoughts: Is fractional CFO work right for you?
Before making the switch, ask yourself these three critical questions:
- Why do I want to become a fractional CFO? â Is it for flexibility, variety, or something else?
- How do I become a fractional CFO? Do your researchâAndy emphasises that thorough preparation is key to a successful transition. Understanding your approach in advance will set you up for success.
- Who am I going to do it with? â Will you take the independent route or join an established team? Carefully consider which path aligns best with your goals and resources.
Fractional CFO work isnât for everyone. But for those who thrive in dynamic, fast-paced environments, want to make an impact, and enjoy helping multiple businesses grow, it can be one of the most rewarding career shifts available.
As Andy Collier puts it:
âPeople donât just hire a CFOâthey hire someone they trust to be in their corner. If youâre ready to embrace that role, fractional work can be an incredible career move.â
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