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@richardlebreton6690 2 күн бұрын
degreed accountant with over 20 years of GL but no CPA, do I have to be certified?
@TheCFOreport 2 күн бұрын
@@richardlebreton6690 no. Most full time CFOs don’t even hold a CPA license.
@prathameshARE 2 күн бұрын
❤❤❤
@TheCFOreport 2 күн бұрын
@@prathameshARE ❤️❤️❤️
@richardlebreton6690 3 күн бұрын
this is where being a GL (manageral) accountant for 20+ years worked against me. I thought these were basic services to perform as a freelance bookkeeper.
@josesantana4295 12 күн бұрын
Amazing video!
@TheCFOreport 12 күн бұрын
@@josesantana4295 glad it was helpful Jose
@mariac447 12 күн бұрын
Great content! Thanks a lot! Regarding getting clients who pays 7K per month, its possible to get them based outside of US? Im a fractional cfo based in Spain, at the moment I'm getting my clients mainly from Upwork.
@TheCFOreport 12 күн бұрын
I haven't seen a ton of people getting many higher caliber clients on UpWork in the past few years. That's just my anecdotal experience though.
@mariac447 12 күн бұрын
@TheCFOreport I see, so do you have the link of your marketing strategy mentioned in the video?
@buttonenfuego 12 күн бұрын
I'm getting clients that are tired of CFO services that are templates. They are upset with customization. So many Fractionals and online companies use the temples for streamlining and scaling. Good in theory, but I'm finding my clients all come to me for customized services. Which yes, is a lot of work. I'm trying to find the balance
@mariac447 12 күн бұрын
where do you get the clients mainly? Upwork?
@TheCFOreport 12 күн бұрын
No shortage of ways to run a firm. You've got to figure out what works best for you and the audience you're trying to serve... One thought though: there's a difference between just delivering templated reports (low value; I do not recommend) and standardized services with tailored insights and perspectives (higher value; this is what works best for my firm).
@mattpiccirillo5697 13 күн бұрын
Great video this week for anyone in the early stages of their CFO firm journey! Can’t wait to check out the free resources!
@TheCFOreport 13 күн бұрын
@@mattpiccirillo5697 yessir!
@alphatech1031 15 күн бұрын
Hi Michael, I’m an MBA (just a state university) with a background in wealth management for institutions. Would a mid career MBA with a CFP and CPA be a good fit as a fractional CFO to advise in strategy for professional services firms? ( i work with dentists, lawyers, doctors, accountants)Apart from primary reporting and tax, what would these clients ask of me that they don’t already as their financial advisor? I am considering a career shift and doing a part time CFO gig on the side, yes for “not get-rich” pay. I have my main gig for my six figures and benefits. I hope the firm I contract with would cover the marketing and my payroll. I am targeting $40 an hour or so to test the waters and ensure I deliver value. Please advise thnx.
@theselftaughtcfo 15 күн бұрын
All of this! My bold baby step was changing my title on LinkedIn. Literally did this last week and then found your channel! I'm in binge mode now.
@TheCFOreport 15 күн бұрын
@@theselftaughtcfo Glad you’re loving them Emily! I’d love for you to check out my Inner Circle program. This month I’m doing a live training on monthly client reporting. If you’re interested, use this link to try the first month for just $1 😁 www.thecfoaccelerator.com/offers/F3Mgh6mq?coupon_code=INNERCIRCLE1
@theselftaughtcfo 15 күн бұрын
@TheCFOreport thank you so much, I'll see you soon!
@TheCFOreport 15 күн бұрын
@@theselftaughtcfo we will be on the lookout for you!
@theselftaughtcfo 19 күн бұрын
Every.Single.Word spoke to ME!!! All of this is me! Excellent talk!
@theselftaughtcfo 19 күн бұрын
This was amazing! So glad I found you!
@TheCFOreport 19 күн бұрын
@@theselftaughtcfo me too!
@theselftaughtcfo 19 күн бұрын
@@TheCFOreportI think I found my rabbit, ill be reaching out soon🥹
@collinstariq 20 күн бұрын
So good! Fear is the thief of our dreams
@TheCFOreport 20 күн бұрын
@@collinstariq I love that quote
@HighPerCapitaExpertise 26 күн бұрын
Thanks!! We are strategically located in Quito - Ecuador and have available high qualified financial professionals!
@KurtisHanni 27 күн бұрын
Wow, what'd Gary do to Michael!?!
@TheCFOreport 27 күн бұрын
@@KurtisHanni it’s what Gary DIDN’T do.
@netinterested8634 27 күн бұрын
bye Gary
@TheCFOreport 27 күн бұрын
@@netinterested8634 Gary gone.
@ValeHow-de5ts 28 күн бұрын
Fab explanation, many thanks
@TheCFOreport 28 күн бұрын
@@ValeHow-de5ts glad it was helpful!
@nickestrada401 Ай бұрын
Could you make a video highlighting how a fractional CFO can benefit a commercial lender? Appreciate all your work
@TheCFOreport Ай бұрын
@@nickestrada401 added it to the list!
@tikon6586 Ай бұрын
This was a great video. I had my second CFO call today, and the client was totally disengaged. I thought I explained everything properly, talked about cash flow projection, how it’s going to help the business growth decision making. But they were still confused as to the difference of accounting/bookkeeping vs fractional CFO services
@StevenKader Ай бұрын
Is it possible to be a part time CFO working remote? Winding down from a corporate job and would like to work less hours from anywhere. Thx.
@TheCFOreport Ай бұрын
@@StevenKader great question. The vast majority of fractional CFOs only do remote work - my firm included!
@lekeshahill2477 Ай бұрын
When you DM people on LinkedIn, do you have a script?
@TheCFOreport Ай бұрын
@@lekeshahill2477 we are covering that next week at the prospecting workshop!
@JoshuaStone-n7d Ай бұрын
Hey Michael! Thanks for all the great content! Question, toward the end, you talk about 70-90% margin and the difference being your salary in an S Corp. If that’s the case, that is anyway owner compensation so in essence, the after tax margin to the owner is the same, close to 90%, correct? Thanks for clarifying.
@lekeshahill2477 Ай бұрын
With the coffee chat, do you send them a gift card to get coffee?
@TheCFOreport Ай бұрын
@@lekeshahill2477 I don’t
@lunamorris2091 Ай бұрын
I love this video. The thing I like in your videos is that everything is in a detailed and learning manner.
@TheCFOreport Ай бұрын
@@lunamorris2091 I’m happy you’re finding them helpful!
@mattpiccirillo5697 Ай бұрын
Fantastic interview! Reminds you how much work is required to be successful, but helps you get there more efficiently. I met Jay at the CFO Accelerator this year, really great guy (Cam too).
@TheCFOreport Ай бұрын
@@mattpiccirillo5697 glad you enjoyed Matt. And yes, both great guys!
@futureBLU Ай бұрын
Watching this has been an excellent use of my time. 🙌
@TheCFOreport Ай бұрын
@@futureBLU thanks!
@Jaktgbabu 2 ай бұрын
Thanks well informed ❤
@Themodestceo 2 ай бұрын
What are you saying when you message them?
@TheCFOreport 2 ай бұрын
Let’s discuss on our call later!
@josemateuslopes8241 2 ай бұрын
From now on I'll follow you. Very amazing. Thank you
@TheCFOreport 2 ай бұрын
Happy to help!
@burlyn88 2 ай бұрын
Perhaps dumb question here...but I always assumed Profit was after ALL expenses. How do I know what other sorts of things fall under the COGS category vs Overhead?
@TheCFOreport 2 ай бұрын
COGS are the expenses directly related to making your product or delivering your service. Example: Let’s say you sell dry erase markers. Your COGS would include the marker shell, the felt inside the marker, the lid, the box, etc. Let’s say all of your COGS total up to $1.25. You sell your marker for $2 then your gross profit is $0.75. Example 2: If you sell plumbing services, your COS would include the payroll your company paid the plumber that works for your company. So if you pay them $30/hr and they spend 3 hours at the job your COS would be $90. Let’s say you bill $100. Your revenue for that job would be $300. Your COS is $90 and therefore your gross profit is $210. These are two very basic examples but I hope it helps!
@leebstill 2 ай бұрын
tax plan iq is wayyyyyyyy better than corvee, just fyi
@TheCFOreport 2 ай бұрын
Corvee was more our jam but mad respect for those that prefer Tax Plan IQ!
@crazysleepintime 2 ай бұрын
I love, love, LOVE what you said about being aware that when you are top dog you need to be careful about what you say otherwise you start a "wake". Coming from the corporate world, it seemed like our execs didn't recognize this and it would disrupt so make workflows.
@TheCFOreport 2 ай бұрын
It’s an easy trap to fall into if you aren’t self aware.
@leebstill 2 ай бұрын
Im about to binge tf out of your channel I think i actually finally might have found my coach
@TheCFOreport 2 ай бұрын
Let’s go! 😂
@HS-PGA 2 ай бұрын
I found unless a cfo or accountant has actually run a business they have no idea how to advise clients , they only seem to know only how to prepare financial statements .
@TheCFOreport 2 ай бұрын
That’s true a fairly high percentage of the time (but not always). That’s why all of the CFOs in my firm have also run businesses of their own and most have also sat in the C Suite at other businesses as well.
@HS-PGA 2 ай бұрын
@@TheCFOreport Thanks Michael . How can I DM you to chat about your inner circle program ? I’ve got a CFO firm for last 12 years.
@TheCFOreport 2 ай бұрын
@@HS-PGA DM me on LinkedIn! www.linkedin.com/in/iammichaelking
@HS-PGA 2 ай бұрын
@@TheCFOreport done ✅
@GPLundy 2 ай бұрын
Good job
@TheCFOreport 2 ай бұрын
Thanks!
@Any-Day-DigitalMarketingAgency 2 ай бұрын
Sir, I sincerely apologize if my message offended you. My intention was not to waste your time or cause any discomfort. You don't need to hire me, but I can assure you that reading the entire message can help you take your Channel one step further. If you are unfamiliar with this topic, don't worry-it's normal. Please search Google for "What is KZfaq video SEO," "Video SEO benefits," and "What is VidIQ?" Once you find the answers, install VidIQ, check your video SEO score, and compare it with the audit report I provided.
@c.bonabycpa1613 2 ай бұрын
Thank you for this video. Great information!
@TheCFOreport 2 ай бұрын
Glad it was helpful!
@yanivpasco 2 ай бұрын
Awesome value 🎉
@TheCFOreport 2 ай бұрын
Thank you!
@MsSheilaC 2 ай бұрын
Im happy to hear your honesty about the mental clarity piece. I’m three months in and I feel like I’m still slogging through, but I have found other videos even if rare, that say the same thing so gives me hope.
@TheCFOreport 2 ай бұрын
Stay with it Sheila. It’s worth it. If you’re able to throw in some regular exercise that may help as well.
@billrobinson5761 2 ай бұрын
If you're using FinancialCents, I'm not clear on why you need ClickUp? We use Fathom for advanced KPI and financial reporting and cash flow mgmt/forecasting (vs your Google sheets CFO reporting). Thank you for the video share - overall great recs.
@yanivpasco 2 ай бұрын
Great discussion - Love it!
@TheCFOreport 2 ай бұрын
Glad it was helpful!
@buttonenfuego 2 ай бұрын
I'm curious on the Daily Ritual Shutdown
@denisegurule1437 2 ай бұрын
Totally enjoying your videos. I know my niche, but don't know how to start as a side hustle and grow into full time.
@TheCFOreport 2 ай бұрын
Check out this video Denise: kzfaq.info/get/bejne/erl2qMSVmMCupo0.htmlsi=WWG_EcRQXnzieR0f
@netinterested8634 3 ай бұрын
Great advice, thank you Michael!
@kasulerremie6057 3 ай бұрын
This is great thank you
@c.bonabycpa1613 3 ай бұрын
This was a great interview!
@user-cj5go6oh1x 3 ай бұрын
Great value content guys, thank you!
@TheCFOreport 3 ай бұрын
Glad you enjoy it. Let us know if you have any other topics you’d like me to tackle!
@cesarp9233 3 ай бұрын
Thanks for this interview. Everything that was spoken about felt like it was speaking to me specifically.
@TheCFOreport 3 ай бұрын
Glad it was helpful. Where are you in your journey?
@YouCant-kl8jx 3 ай бұрын
what a loser
@nerf_herder90 3 ай бұрын
I'm a CPA who went into public accounting to own my own firm. I've been in long enough to know that the CPA Partner life isn't all it's cracked up to be. My real passion is helping business owners understand the story their numbers are telling. I only have a couple clients, is your program right for me?
@TheCFOreport 3 ай бұрын
That’s exactly what we do! Email us at [email protected] or DM me on LinkedIn. I’d love to hear more and see how we might help!
@kasulerremie6057 3 ай бұрын
This is inspiring am starting my cfo company and your videos have helped a great deal. Thank you
@TheCFOreport 3 ай бұрын
Exciting! Let me know how we can support!!!