In this episode of Building Wealthy Habits, Laura and Jeremiah discuss the role of fractional CFOs in growing businesses. They explore the progression from handling finances in-house to hiring a tax preparer, bookkeeper, and controller. They highlight that eventually businesses reach a point where they need a strategic thinker and financial expert, which is where a fractional CFO comes in. They discuss the benefits of hiring a fractional CFO, such as cost savings and access to expertise, and provide resources for finding fractional CFO services.
In this episode:
00:00 Introduction: Moving into a Growth Phase
02:01 The Role of a Bookkeeper
04:24 The Strategic Role of a Fractional CFO
06:12 The Need for Stair-Stepping towards a CFO
08:03 The Value of a Support Network
10:06 The Growth of the Fractional CFO Industry
13:24 Choosing a Fractional CFO Service
15:17 Long-Term Engagement with a Fractional CFO
17:07 The Benefits of Service Companies
19:02 Financial Advisors and Fractional CFOs
21:04 Conclusion: Get the Help You Need
Reach out at contact@tricordadvisors.com
Connect with Jeremiah:
LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
Email: Jeremiah@tricordadvisors.com
Email: Laura@tricordadvisors.com
Connect with Laura:
LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
Email: Laura@tricordadv.com
