Fractional CFO - There are a variety of reasons your business might need a part-time (Fractional) CFO.
As your business grows, a good fractional CFO can provide you with more services, including building cash-flow models, improving your balance of receivables and payables, providing advice on capital-market activities, and helping you think strategically about reinvesting profits in a way that benefits continued growth.

While you hire more employees, you might employ the fractional CFO to help develop and implement your systems and train new staff accordingly.  Also, if you now have a bookkeeper inputting data, you CFO can pull out KPIs from the data and help company executives interpret the financial statements and make sound decisions based on financials. An a part-time CFO can serve as a coach and sounding board, someone you can call when you have a question.

If you need to raise capital, a part-time CFO with the right experience can help you locate and talk to potential investors, develop your pitch deck and marketing materials, and make sure you have an up-to-date capitalization table (showing ownership percentages and equity dilutions of founders and investors through each round of investment).  A potential new investor needs to have faith in the company through the CFO, and there is only one shot to get this right.  Same thing if you are try8ing to get a bank loan.  These things need to be done right the first time, or you run the risk of the transaction falling apart.

And one last piece of advice for small- to mid-size-business owners and CEOs:  One of the best reasons to call on a CFO is if you are spending more time doing administrative, finance, and back-office tasks than on growing your business.