Position Type: Fractional
Reports To: CEO, Herbal Goodness
About Herbal Goodness:
Herbal Goodness is a leading wellness brand specializing in premium herbal supplements, superfoods, and holistic health solutions. We are a 100% women-owned and minority-owned company committed to promoting natural health and empowering women worldwide. Our product lines include teas, supplements, tinctures, and more—all crafted with sustainability and the highest quality standards in mind.
We are expanding rapidly and seeking a CFO and Business Growth Plan Owner and Implementer to lead our financial strategy, revenue growth, and business expansion efforts. This role will be responsible for owning the short- and long-term revenue growth strategy and P&L, aiming to drive the business's overall financial success and sustainability.
Role Overview:
We are seeking a Fractional Chief Financial Officer (CFO) to join our team and provide high-level financial leadership and strategic insights. As a fractional CFO, you will play a key role in guiding the financial operations of Herbal Goodness, providing financial oversight, and collaborating closely with the CEO and leadership team to drive the company’s short and long-term growth initiatives. This role requires strong expertise in managing complex financial systems, fundraising, and financial strategy in the wellness and consumer goods space.
This is a part-time, remote position and will be an excellent fit for a highly skilled financial and operations leader looking to contribute to a fast-growing, mission-driven business. In the immediate term, this fractional role will focus on financial oversight, the development of a comprehensive business growth plan, and the execution of strategies to enhance our financial performance.
The initial engagement will be a 60-day contract consisting of two phases:
Phase 1: Baseline Study – In this first month, you will conduct a comprehensive analysis of Herbal Goodness’ current financial performance, business operations, market positioning, and competitive landscape to establish a clear baseline for the business.
Phase 2: 5-Year Business Plan Development – During the second month, you will use the insights gained from the baseline study to develop a strategic business plan. This plan will include growth targets, market expansion strategies, product development initiatives, and financial projections to guide the company's growth trajectory for the next five years.
After completing Phase 1 and Phase 2, we will assess the outcomes and determine how to proceed with the next steps, which may include ongoing implementation of the business growth plan.
Initial Key Responsibilities:
Project 1: “Strategic Foundations” (60-Day Initial Engagement)
- Phase 1: Baseline Study (Days 1-30)
- Conduct a thorough analysis of Herbal Goodness’ current financial health, including sales performance, revenue streams, cost structures, and profitability.
- Assess the competitive landscape, identifying key competitors, market trends, and potential opportunities for growth.
- Identify the strengths, weaknesses, opportunities, and threats (SWOT) to establish a clear strategic foundation. Provide a comprehensive report on the current state of the business with actionable insights for growth.
- Phase 2: 5-Year Business Plan Development (Days 31-60)
- Develop a clear and actionable business plan with measurable growth targets for the next five years.
- Identify key initiatives and resources needed for market expansion and product development.
- Create financial projections that align with the company's growth targets and operational goals.
- Establish a refined business model, ensuring alignment between business objectives, execution, and measurable success.
Project 2: “Implementation” (Duration TBD)
- Based on the outcomes of the Baseline Study and 5-Year Business Plan, you will collaborate with the CEO and leadership team to determine the next steps for business implementation.
- Lead the execution of strategic initiatives, including sales and revenue growth, market expansion, and product development.
- Oversee the monitoring and tracking of progress against established targets and KPIs.
- Drive continuous improvement in operational efficiency and financial performance.
Long Term Key Responsibilities:
- Financial and Operations Strategy Strategy & Planning:
- Work closely with the CEO to develop and implement the company’s operational and financial strategy and long-term revenue goals.
- Serve as business Orchestrator and Chief Operations Officer to synergize strategies and break down silos across business units.
- Provide financial forecasting, budgeting, and modeling to support growth and scalability.
- Identify and implement operational and financial systems and processes to optimize efficiency, accuracy, and decision-making. Driven cash flow management and capital allocation to support business priorities.
- Financial Operations & Oversight:
- Oversee financial reporting, accounting, and compliance for the business.
- Lead the preparation and analysis of monthly financial statements (P&L, Balance Sheet, Cash Flow) and provide actionable insights.
- Establish and track key financial metrics, KPIs, and dashboards to assess business performance. Manage the company’s accounting team (if applicable) and ensure timely, accurate reporting.
- Fundraising & Investor Relations:
- Support the CEO in company valuation and raising capital for business expansion, including equity, debt, or grants as necessary.
- Lead financial due diligence for fundraising activities and liaise with investors and stakeholders. Prepare financial documents, reports, and presentations for potential investors.
- Cost Control & Profitability:
- Identify areas of potential cost savings and implement cost control measures across the business.
- Review pricing strategies, margin analysis, and profitability of key products and services. Monitor and optimize the company’s supply chain and vendor relationships to ensure profitability.
- Risk Management & Compliance:
- Manage financial risk and ensure compliance with tax, legal, and regulatory requirements.
- Conduct risk assessments and implement internal controls to safeguard the company’s financial assets. Ensure the company is in compliance with all applicable financial regulations and industry standards.
- Collaboration with Leadership:
- Collaborate with the CEO and leadership team to support strategic decision-making and operational efficiency.
- Act as a financial advisor on major business decisions such as new product launches, mergers/acquisitions, and partnerships.
- Assist in the development and execution of financial aspects of the company’s growth initiatives.
Required Qualifications:
- Experience:
- At least 10+ years of experience in finance, with 5+ years in a senior financial leadership role (CFO, VP of Finance & Operations, Finance Director).
- Experience working with fast-growing companies, preferably in the wellness, CPG, or e-commerce space.
- International Experience a plus
- Proven track record of managing financial strategy and operations for scaling businesses.
- Skills:
- Strong expertise in financial modeling, budgeting, forecasting, and reporting.
- Deep knowledge of accounting principles, tax regulations, and financial regulations.
- Experience in fundraising, investor relations, and financial due diligence.
- Familiarity with financial software and systems (e.g., QuickBooks, Xero, NetSuite, Gusto).
- Familiarity with ERP systems deployment and management Strong business acumen with the ability to provide actionable financial insights and recommendations.
- Education:
- Bachelor’s degree in Finance, Accounting, or related field required; CPA, CFA, or MBA required.
- Bachelor’s degree in Finance, Accounting, or related field required; CPA, CFA, or MBA required.
- Other:
- Excellent communication and leadership skills.
- Ability to work remotely, independently, manage priorities, and meet deadlines in a fast-paced environment.
- A strong passion for wellness, health, and sustainability, aligning with Herbal Goodness’ mission.
