Ellen Wood is the CEO and co-founder of vcfo, an Austin-based professional services firm renowned for its innovative “Virtual CFO” concept. Ellen has been a trailblazer in providing fractional CFO and CHRO solutions, catering to the needs of small and medium-sized businesses. Under her leadership, vcfo has supported over 6,000 clients, offering an integrated suite of finance, HR, and recruiting solutions across its offices in Austin, Denver, Dallas and Houston.
Ellen led the development and release of v360™, an innovative business assessment and strategic roadmap to enhance business value beyond revenue growth or EBITDA. This new offering evaluates critical areas – leadership, policies, infrastructure, sales, governance and employee programs. The goal is to provide businesses with 15-20 actionable recommendations to boost shareholder value, leveraging over 28 years of expertise from vcfo’s seasoned professionals. The v360™ process requires minimal client time investment it a practical and impactful tool for businesses preparing for growth opportunities, funding events, mergers or sales.
With v360™, Ellen emphasizes the importance of proactively understanding and enhancing a company’s value. v360™ is designed to shift the focus from day-to-day operations to strategic growth initiatives, ensuring businesses are well-prepared for future transitions. By offering a detailed picture of a company’s current market position and robust recommendations for value enhancement, v360™ helps businesses capitalize on rising CEO confidence and the positive economic outlook, ultimately driving significant long-term value.
Ellen’s commitment to excellence and strategic support for businesses has been recognized with the 2024 Lifetime Achievement Award by Vistage, the world’s largest CEO coaching and peer advisory organization. This prestigious award honors long-standing members who demonstrate bold decision-making and inspire their peers. Ellen’s nomination and recognition by her fellow Vistage members highlight her significant impact on the industry and her community.
Beyond her professional achievements, Ellen is deeply involved in community service. She has held leadership roles as Chairman of the Board for the University Federal Credit Union (UFCU) and the Austin Chamber of Commerce. Ellen also contributes her expertise to Opportunity Austin and the Central Texas Quality of Life Foundation boards, among other committee positions in various organizations.
Ellen’s approach to leadership is marked by vision, resilience, and an unwavering commitment to excellence. Through her initiatives, she has been instrumental in expanding international capital relationships and supporting the local technology community. Ellen’s peers and colleagues admire her generosity, authenticity, and dedication to improving and helping those around her.
Under Ellen’s guidance, vcfo continues to evolve, ensuring that clients receive flexible, game-changing finance and HR solutions tailored to their business needs. Her legacy of leadership and community involvement sets a benchmark for excellence in the industry. For more information, please visit www.vcfo.com.
Company: vcfo
We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company.
Ellen Wood: Thank you for the warm welcome. I’m Ellen Wood, CEO of vcfo, a company pioneered the concept “Virtual CFO.” Back in 1996, we had a vision to make top-tier financial expertise accessible on a fractional affordable basis to companies that didn’t have the resources or need for a full-time CFO. That vision became vcfo, and we’ve since supported over 6,000 businesses across industries by providing fractional CFO, HR, and recruiting services.
Our work goes beyond numbers. We focus on strengthening companies holistically, whether through strategic financial planning, leadership development, or our newest innovation, v360™. v360 is a comprehensive business assessment designed to identify opportunities and risks, providing a clear roadmap for companies to enhance their value and reach their long-term goals.
This journey has been deeply personal to me. It started with my own challenges as a young CFO trying to navigate complex situations, like selling a telecommunications company, without a guide to lean on. That experience instilled a deep understanding of the value of experienced advisors. Today, I’m proud of the community we’ve built at vcfo and the impact we’ve made on businesses across the country.
How does your company integrate purpose and impact into its overall business strategy?
Ellen Wood: Purpose is at the core of what we do at vcfo. Our goal is to help businesses not only succeed financially but also grow as contributors to their communities and in support of their people. Our commitment is to make the same decision for a client that we would for our own company. We help our clients achieve stronger operations in both financial management and human resources. This work often creates a ripple effect, improving outcomes for employees, customers, and entire communities.
One story that highlights this impact involves a founder and majority owner of a services business who was diagnosed with cancer. Facing this difficult moment, the founder realized there was no exit plan for the company. Although the partners had good intentions, none of them had the experience to assess the business’s true value or develop a strategy for moving forward. When they turned to vcfo, we conducted a v360 assessment that revealed the company’s actual value was ten times higher than they originally thought. By uncovering value in areas they had not considered, we helped the founder secure a future for their family, the business and the people who depended on it.
Our commitment to impact also comes to life through initiatives like vcfogives. This vcfo program engages team members to participate in financial and volunteer support of dozens of charitable organizations across our markets. In one example, for more than 15 years we have supported Bookspring, a nonprofit dedicated to improving childhood literacy. Our team provides both provide financial support and regularly participates in the distribution of books to hundreds of children in underserved areas. Often, Bookspring books are the first and perhaps only books in the home. Another favorite program is our annual Pay It Forward project where each employee is given $100 to use in any way they feel led to give. We have had employees use their hundred dollars in so many ways such as for snacks for parents at a local NICU, buying groceries for local firefighters, and providing some additional support to a favorite waitress as she took time off after having a baby. In recent years, we have been supporting a local animal rescue and recently secured a van to support their mission and more easily move dogs as needed.
Through our services and community efforts, we focus on helping businesses align their operations with a greater sense of purpose. This approach strengthens the companies we serve and the communities where they operate, creating meaningful and lasting results.
Can you share an example of how your business has successfully balanced profitability with social responsibility or sustainability?
Ellen Wood: At vcfo, we’ve always believed that profitability and social responsibility are deeply connected. Through our vcfogives program, we’ve built a culture where giving back is not just encouraged but celebrated. Whether it’s organizing programs to support underserved communities, fostering literacy initiatives for children, or honoring our veterans with support of Honor Flight, we focus on creating impactful ways to give back while also engaging our employees and partners.
Our efforts go beyond financial contributions. Team members actively volunteer their time, serve on nonprofit boards, and participate in programs like our holiday initiative, Pay it Forward, where each employee is empowered and funded to perform random acts of kindness of their choosing. This holistic approach ensures that giving back is embedded into the way we operate.
What’s most rewarding is how these initiatives align with our broader mission of helping businesses thrive. Just as we optimize value and efficiency for our clients, we aim to create meaningful impact in the communities we serve. We’ve found that when purpose and profitability are aligned, it strengthens not only our team but also the long-term success of our company. It’s proof that doing good and doing well truly go hand in hand.
What role does philanthropy or community involvement play in your company’s mission, and why is it important to you as a leader?
Ellen Wood: Philanthropy has always been a guiding principle for me, well before vcfo. I remember working on a PTA reading program when my son was in the first grade, and an entrepreneur parent shocked me by writing a large check to fully fund it for the entire school. That moment stuck with me—it showed me how businesses could make a real difference in their communities by sharing their resources.
As I mentioned above, this belief evolved into vcfogives, a program that reflects our company values. Whether it’s supporting organizations like Safe Place, mobilizing resources for hurricane relief, or contributing to food banks during times of heightened need, we focus our efforts on making a tangible impact. In another example, we mobilized resources during the pandemic to support nonprofits facing financial strain, ensuring they could continue their vital work.
Philanthropy also strengthens our team and our client relationships. Our employees take pride in working for a company that values giving back, and our clients often share these values, deepening our partnerships. We strive to lead by example and show that businesses can be a force for good while delivering outstanding client results.
How do you ensure that purpose-driven initiatives resonate with both your employees and your customers?
Ellen Wood: The key is authenticity and alignment. vcfo has built a culture where purpose is a natural extension of our work. You have to walk the talk. For our employees, this starts with ensuring they feel valued and supported. When your team knows they’re part of something bigger, they engage more deeply, whether through their work with clients or community initiatives.
For clients, we use tools like v360 to demonstrate how purpose-driven strategies can enhance business value. One client, for instance, was hesitant to invest in their employee programs. Through v360, we showed them how these initiatives could improve retention and productivity while making their company more attractive to buyers. The results spoke for themselves, reinforcing that purpose isn’t just a feel-good concept but a valid driver of success for the bottom line.
We also prioritize clear communication, ensuring everyone involved understands and embraces our purpose-driven efforts. When employees and clients see the tangible outcomes of these initiatives, it creates a shared sense of pride and commitment.
What advice would you give to other leaders looking to embed purpose and impact into their organizations?
Ellen Wood: Start by defining your values and aligning your actions with them. Purpose-driven initiatives must reflect the essence of your company, not a trend or checklist. At vcfo, our commitment to “People First” is the foundation of how we operate, from prioritizing our employees’ well-being to designing client solutions that consider long-term community impact.
Leaders should also create space for collaboration. Engage your team in shaping purpose-driven initiatives and ensure they have a voice in how these efforts evolve. This builds buy-in and ensures the initiatives are grounded in your organization’s realities.
Finally, be patient and persistent. Embedding purpose takes time, but the rewards—increased loyalty, stronger partnerships, and greater resilience—are worth it. And don’t underestimate the ripple effect. When businesses lead with purpose, they inspire others to do the same, creating a culture of impact far beyond their walls.