Frequently asked questions
Clear answers before we begin.
What the monthly service includes, how the tools support the work, and where your responsibilities remain.
What is financial navigation?
A monthly financial education, analysis, and planning service that helps you understand business performance, maintain a forward-looking financial plan, and identify practical next steps. It provides continuity through recurring meetings and follow-through.
Are you taking on the role of my CFO?
No. MW Financial Navigator is an educational and analytical support service, not an officer appointment or an outsourced management role. Mike does not take control of operations, direct your employees, authorize spending, or manage client funds. You retain responsibility for decisions and implementation.
How long do we work together?
A paid three-month initial period establishes the model and recurring analysis. Six-month or annual continuation is available by agreement. All include at least a monthly review. The written agreement defines the term, fees, renewal, and termination provisions.
What happens each month?
We review current results and the measures that matter to you, update the financial outlook, and meet to discuss changes, tradeoffs, and next steps. A written Financial Navigation Report explains material actual-versus-forecast differences, the updated outlook, and agreed next steps. For decisions in scope, it evaluates alternatives and conditions for acting.
What role do planning tools play?
Financial planning software supports the forecasting and financial review process. Simple spreadsheets may be used where appropriate. Mike adds interpretation and discussion grounded in your priorities. Tools, access, software costs, and responsibilities are defined in the engagement.
Do I have to connect QuickBooks or Xero?
No. Mike can manually enter the agreed actuals into the forecast from your closed financial reports. I use consistent categories and check totals against the source statements. A connection is optional and does not replace review of the data.
Can the service support a quarterly strategic review?
Yes. Monthly records and reviews can feed a deeper quarterly assessment. We compare activity over matching periods and use ending balances for cash. The engagement defines the depth and timing of strategy reports.
What is in a decision report?
The decision and deadline, relevant actual-versus-forecast results, assumptions, alternatives and downside scenarios, cash implications, considerations and trade-offs for your evaluation, and responsibilities for follow-up. The number and depth of decision studies are agreed in scope.
Do you replace my bookkeeper or CPA?
No. The service complements your existing professionals. Your bookkeeping needs to be maintained so I can work with useful information. Tax preparation, audit and assurance work, legal advice, and investment advice are outside this service.
How does this differ from project-based assistance?
The distinction is the recurring work we agree to maintain: preparing actuals, investigating variances, updating scenarios, writing decision reports, and following through. SBDC programs can also offer business education and planning resources. This is a private, paid service of MW Business Consulting LLC. It is separate from the SBDC, SBA, universities, and other public programs, whose services and availability vary. No sponsorship, endorsement, or preferential access is implied.
Do I need an accounting background?
No. I discuss your numbers in plain language and focus on the business questions behind them. You bring your knowledge of the business; Mike helps you interpret the financial picture.
What information do you need?
Typically, current financial statements, planning assumptions, relevant bookkeeping reports, and your priorities. Exact requirements depend on the agreed scope. Sensitive information should be shared only through the approved process, not ordinary website forms.
How are AI tools used?
AI may assist with sanitized metric summaries after identifying and sensitive details have been removed. Raw private financial statements, customer and employee names, bank details, tax IDs, account numbers, and identifying transactions are not entered into AI tools. Mike reviews the output using his own analysis and agreed business measures. Approved tools and data-handling arrangements are addressed in the engagement; removing identifiers is not a promise of complete anonymity.
What does it cost, and is support available between meetings?
Fees reflect the scope, complexity, and information available. The monthly fee, meeting duration, software costs, deliverables, and any between-meeting support are agreed in writing before work begins. Additional work requires a separate scope.
Are outcomes guaranteed?
No. Forecasts and scenarios depend on assumptions and the information provided. Actual results may differ, and no profit level, cost saving, financing approval, or other outcome is guaranteed.