Land of 10,000 Unicorns?
Minneapolis, Minnesota, has established itself as a thriving center for tech, innovation, and business, fueled by a dynamic ecosystem that has fostered the growth of numerous notable companies. One standout success story is Target Corporation, a retail giant that was founded in Minneapolis in 1902 and has since become a household name across the United States. Target has continuously embraced innovation, leveraging technology to enhance the shopping experience and adapt to changing consumer demands. With its headquarters in Minneapolis, Target has not only contributed to the city’s economic growth but has also served as an inspiration for aspiring entrepreneurs and businesses.
Another prominent company that has made a significant impact in Minneapolis is Medtronic, a global leader in medical technology. Founded in 1949, Medtronic has been at the forefront of innovation, developing a wide range of medical devices and therapies to improve patient outcomes. Its contributions to the healthcare industry have positioned Minneapolis as a hub for medical technology and research, attracting talent and investment from around the world.
Minneapolis has also nurtured a number of fast-growing companies that have garnered attention for their innovative approaches. One such company is Code42, a data security and recovery software provider. Code42’s solutions help organizations protect and recover their valuable data in the event of data breaches, accidental deletions, or system failures. The company’s rapid growth and success highlight Minneapolis’ ability to foster tech companies at the forefront of data protection and cybersecurity.
The city has also seen the rise of several notable startups. Leadpages, a software-as-a-service (SaaS) company founded in 2012, has gained recognition for its platform that enables businesses to create and optimize high-converting landing pages. By empowering entrepreneurs and marketers with powerful conversion tools, Leadpages has become a key player in the digital marketing industry. Additionally, When I Work, a workforce management software company founded in 2010, has experienced significant growth by providing businesses with user-friendly scheduling and communication solutions. Its innovative approach to workforce management has propelled its success and contributed to Minneapolis’ reputation as a hub for tech startups.
In summary, Minneapolis, Minnesota, has emerged as a thriving center for tech, innovation, and business. Companies like Target Corporation and Medtronic have cemented their presence in the city, driving economic growth and inspiring others with their success. Fast-growing companies such as Code42, Leadpages, and When I Work have also made significant contributions to Minneapolis’ tech ecosystem, showcasing the city’s ability to foster innovation and entrepreneurship. With its robust startup culture, a skilled workforce, and a supportive business environment, Minneapolis continues to attract companies and entrepreneurs seeking to make their mark in the world of technology and business.
Minneapolis Fractional CFOs
While we don’t have any fractional CFOs in Minneapolis specifically, we do have several throughout the North Midwest. However, due to high demand, their availability will change constantly. Never fear. Our roster is currently expanding at a rate of 5-7 superstars per week. The best thing to do is to contact us and explain your exact needs so we can research who we currently have available that will be the best fit.
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Ready to talk about how a Fractional CFO can help your business? Click the button below and schedule a free strategy session.
Remote Fractional CFOs
With the rapid advancements in technology and the increasing popularity of remote work, operating as a Fractional CFO in a virtual capacity has become the norm. This virtual setup offers numerous benefits for both the Fractional CFO and their clients. One significant advantage is the ability for businesses to tap into top-tier talent from diverse geographical areas without being limited by physical proximity. Additionally, working virtually provides the Fractional CFO with greater flexibility in terms of their location and eliminates the need for extensive travel.
Furthermore, virtual work arrangements empower Fractional CFOs to effectively manage their time and workload. They can leverage digital communication tools and online project management platforms to collaborate seamlessly with client teams, conduct meetings, monitor progress, and deliver results remotely.
While many Fractional CFOs primarily operate virtually, some may offer in-person meetings and consultations depending on the specific needs and preferences of the client. This option can be particularly valuable for clients who prefer face-to-face interactions or require in-person collaboration for certain aspects of the engagement.
Ultimately, whether a Fractional CFO works in-person or virtually is determined by the unique circumstances, client preferences, and the nature of the project. However, the virtual work model has gained significant prominence and widespread adoption due to its convenience, efficiency, and ability to transcend geographical boundaries.
Industry Specific CFOs
What might make the most sense is to focus on choosing a fractional CFO based on their domain knowledge of your industry, rather than location. Our current roster includes the ex-CFOs and ex-VPs of Marketing from Walt Disney, CISCO, Zipcar, Salesforce, Hootsuite, UberEATS, eHarmony, eBay, PayPal, Whole Foods, PepsiCo, NBC Universal, Hasbro, Edelman, Omnicom Group, and more…
Check out our example Fractional CFOs for B2B, SaaS and startups. Whether you are D2C, B2B, B2C, B2B2C or whatever industry you are in, we’ve probably done it.
What if you could hire someone who has already done exactly what you are trying to do? Hire the best.
Ready to Book a Call?
Ready to talk about how a Fractional CFO can help your business? Click the button below and schedule a free strategy session.
Why Engage a Fractional CFO?
When it comes to reaping the benefits of a fractional Chief Marketing Officer (CFO), the impact on business growth should not be underestimated. Choosing a fractional CFO who possesses true marketing leadership skills, as opposed to a mere marketing manager, can bring significant advantages to your organization. Here’s why enlisting the services of a fractional Chief Marketing Officer (CFO) can revolutionize your business:
- Focus on Core Business: As a business owner, your attention is crucial for driving success. By engaging a fractional Chief Marketing Officer (CFO), you can shift your focus to core operations while entrusting marketing strategies and leadership to a seasoned professional.
- Comprehensive Marketing Strategy: Collaborating with a fractional Chief Marketing Officer (CFO) empowers you to develop a well-crafted marketing strategy that aligns with your business objectives. Their expertise ensures an actionable plan that encompasses all crucial aspects of marketing, including digital marketing, content marketing, and paid advertising.
- Efficient Resource Management: Managing a dedicated marketing team can be challenging for small businesses. With fractional Chief Marketing Officer (CFO) services, you can optimize resource allocation and leverage the expertise of a fractional CFO without the need for a full-time executive, effectively managing your marketing department.
- Industry Expertise and Fresh Perspective: Fractional Chief Marketing Officers (CFOs) bring valuable industry expertise and a fresh perspective to your organization. Their deep understanding of market trends and connections with specialists can uncover untapped opportunities, enabling business growth.
- Enhanced Hiring Practices: Fractional Chief Marketing Officers (CFOs) contribute to recruiting top marketing talent by providing guidance on job descriptions, interview processes, and talent retention strategies. Their experience ensures you attract and retain skilled professionals to strengthen your marketing team.
Fractional CFO Services: Tailored Solutions for Your Needs
Understanding the range of services a fractional CFO offers is essential for selecting the right fit for your organization. Whether you require strategic planning, marketing leadership, or assistance with specific marketing campaigns, fractional CFOs provide customized solutions. Consider the following services when evaluating the need for a fractional CFO:
- Marketing Strategy Development: A fractional CFO crafts a comprehensive marketing strategy aligned with your business objectives, covering key areas such as brand strategy, content marketing, and digital marketing.
- Leadership and Training: Fractional CFOs offer valuable leadership and training, guiding your marketing team to execute effective marketing initiatives and optimize the sales conversion time (sales cycle).
- Marketing Automation and Technology: Fractional CFOs assess your automation needs and provide guidance on implementing the right marketing automation tools and technologies to streamline operations.
- Brand Management and Communication: Fractional CFOs play a pivotal role in shaping your brand strategy, ensuring consistent messaging and effective communication with your target audience.
- Customer Acquisition Optimization: A fractional CFO assists in optimizing customer acquisition channels, analyzing metrics such as the Sean Ellis score, customer lifetime value (CLV), customer acquisition cost (CAC), and return on ad spend (ROAS). They track 30-day marketing qualified leads (MQL) and 30-day sales qualified leads (SQL) to measure the effectiveness of your acquisition efforts.
For a more detailed article on Fractional CFO services, see our article titled “Fractional CFO Services.”
Conducting a Comprehensive Customer Acquisition Audit
Successful marketing efforts require a leader who understands how to drive revenue growth. Auditing customer acquisition channels is a crucial step in optimizing your marketing initiatives and driving growth. Follow these steps to conduct a comprehensive customer acquisition audit:
- Refine Your Buyer Personas: Begin by reevaluating your Buyer Personas (ICP). Start with a broad understanding and then narrow down your target audience. Utilize qualitative and quantitative data to inform your decision-making process.
- Conduct an Acquisition Channel Audit: Identify and assess all customer acquisition channels in use, including paid advertising, social media, content marketing, email marketing, SEO, and affiliate marketing.
- Establish Clear Objectives and KPIs: Set specific objectives and key performance indicators (KPIs) for each acquisition channel based on your business goals. This will provide a clear direction and measurable targets.
- Implement “Create, Build, Measure, Learn” Loops: Adopt an iterative approach by creating strategies, executing them, measuring results, and learning from the outcomes. Iterate this process to optimize your marketing initiatives.
- Automate and Monitor Data: Gather accurate data for each channel and analyze essential metrics such as conversion rates, cost per acquisition (CAC), customer lifetime value (CLV), and return on ad spend (ROAS). Automation can streamline data collection and monitoring processes.
- Systemize and Automate Processes: Leverage the expertise of a fractional CFO to systemize and automate key marketing processes, enhancing efficiency and scalability for long-term growth.
What Does a Fractional CFO Cost?
What does a fractional CFO cost? Most Fractional CFOs are hired on a project basis with a flat rate for a Scope of Work that outlines a specific set of deliverables. However, they are also sometimes hired on an hourly, daily, or project basis to take on marketing initiatives that would otherwise be difficult to manage without a dedicated marketing executive. In such cases, we’ve been seeing rates fall between $150 – $300 /hr. True, it’s a big range, so how do you know what you should pay? The cost of hiring a fractional CFO can vary depending on the experience of the CFO, the fractional CFO job description, the Scope of Work, and the length of the engagement.
For a more detailed article on fractional CFO rates see our article “What is a Good Fractional CFO Hourly Rate” or see our Pricing Page.
