FocusCFO's Michael Stier is on the Gross Profit Podcast, sitting down with host James Kennedy to dive deep into the world of fractional CFOs. They explore the rapid growth of fractional CFO services, the benefits they bring to businesses, and how FocusCFO stands out in the growing fractional executive industry.
What is a Fractional CFO and How Can They Help Your Business Grow?
A fractional CFO is an experienced financial executive who provides part-time financial leadership to businesses. SMBs who may not have the budget, or the need, for a traditional, full-time CFO benefit from the experience of a talented executive on a schedule and budget that fits their needs.
Why FocusCFO is a Leader in the Fractional CFO Industry
FocusCFO's explosive growth in recent years is attributed to several factors, including their adoption of the Entrepreneurial Operating System (EOS). "The real starting point for us in our growth is when we decided to adopt and run EOS ourselves internally," says Stier. This shift allowed FocusCFO to move from a founder-led organization to one with a strong leadership team and a clear vision.
That vision includes a focus on what sets our organization apart: Experienced, C-Level executives with decades working in industry, not just for it; an embedded approach, with the CFO working in the business as part of the leadership team; and, a team approach, where clients and associates benefit from the shared expertise, experience, and best practices of the entire organization.
The Benefits of Hiring a Fractional CFO from FocusCFO
Businesses turn to fractional CFOs for various reasons. The podcast highlights common pain points:
- Rapid Growth: "Growth is typically a torpedo to your cash flow."
- Cash Flow Challenges: "Their idea of cash flow was what was in my bank account on a Friday afternoon."
- Owner Burnout: "I'm tired, I'm beat up... just help me package this thing so I can sell."
- Exit Planning: "How do I grow this business so it's something of real value that when I exit, it actually will fund my personal goals?"
FocusCFO addresses these issues by acting as a "strategic partner," providing financial expertise, operational insights, and an outside perspective.
How to Hire a Fractional CFO
Hiring a Fractional CFO starts with a conversation. If you're interested in learning more about how a Fractional CFO can help your business create and execute a financial roadmap for the future, reach out today for a complimentary consultation.
