Tyler Martin, fractional CFO and business advisor, discusses his career journey and insights for small business owners.
Key Takeaways
- Tyler provides fractional CFO services for businesses in the $1-10M revenue range, helping with financial strategy and growth
- Key advice: Focus on systems, delegation, cash flow management, and leadership skills early on in business
- Tyler hosts two podcasts: "Profit and Grid" for home service businesses and "Think Business with Tyler" interviewing 7-8 figure business owners
Topics
Tyler's Business Background
- Started as a CPA, left to start his own practice with zero clients
- Grew practice to 200 business clients in 5 years
- Joined and eventually led an engineering services company, growing it to $25M revenue before selling
- Now runs CFO Made Easy, providing fractional CFO services
Value of Fractional CFO Services
- Helps businesses in $1-10M revenue range with financial strategy
- Bridges gap between CPA (taxes) and bookkeeper (historical records)
- Focuses on forward-looking financial planning and business strategy
- Can be more cost-effective than full-time CFO for smaller businesses
Leadership Lessons
- Learned to adjust management style to individual employees
- Stopped labeling employees (e.g. "millennials") and gave everyone a clean slate
- Focused on understanding what motivates each person
- Realized treating everyone exactly the same wasn't effective
Advice for Business Owners
- Delegate effectively but still understand core business functions
- Implement systems and processes early on
- Focus on cash flow management and forecasting
- Continuously improve leadership skills
- Be proactive in financial reviews and understanding clients personally
You can subscribe to the podcast at https://matthewefird.com.
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